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8-K: Intuitive Machines Reports Fourth Quarter and Full-Year 2024 Financial Results

SEC ·  Mar 24 11:32

Summary by Moomoo AI

Intuitive Machines reported strong financial results for Q4 and full-year 2024, with Q4 revenue increasing 79% YoY to $54.7M and annual revenue nearly tripling to $228M. The company achieved record backlog of $328.3M, up 22% YoY, while maintaining positive gross margins for the second consecutive quarter. Year-end cash position stood at $207.6M, rising to $385M by March 2025 following warrant redemption.The company successfully executed the southernmost lunar landing and expanded its service offerings through additional NASA contracts for Near Space Network services. Strategic developments included a $125M stock offering and partnership with South Korea's Boryung Corporation, along with new contracts for orbital transfer vehicle development.Looking ahead, Intuitive Machines projects 2025 revenue between $250-300M and expects to achieve positive run-rate Adjusted EBITDA by year-end 2025, with full positive Adjusted EBITDA in 2026. The company maintains a debt-free status and strong financial position to pursue growth opportunities through both internal innovation and strategic acquisitions.
Intuitive Machines reported strong financial results for Q4 and full-year 2024, with Q4 revenue increasing 79% YoY to $54.7M and annual revenue nearly tripling to $228M. The company achieved record backlog of $328.3M, up 22% YoY, while maintaining positive gross margins for the second consecutive quarter. Year-end cash position stood at $207.6M, rising to $385M by March 2025 following warrant redemption.The company successfully executed the southernmost lunar landing and expanded its service offerings through additional NASA contracts for Near Space Network services. Strategic developments included a $125M stock offering and partnership with South Korea's Boryung Corporation, along with new contracts for orbital transfer vehicle development.Looking ahead, Intuitive Machines projects 2025 revenue between $250-300M and expects to achieve positive run-rate Adjusted EBITDA by year-end 2025, with full positive Adjusted EBITDA in 2026. The company maintains a debt-free status and strong financial position to pursue growth opportunities through both internal innovation and strategic acquisitions.
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