U.S.-based Intuitive Machines (LUNR.US), which specializes in providing hardware and software to support lunar exploration, will report financial results tomorrow, for Q3 2024. Investors expect the company's revenue to rise more than 300% year-on-year to $52 million, thanks to government contracts, and its loss per share to fall nearly 50% to $0.13 from $0.22 in Q3 2023.
- Wall Street is buying the company's stock, hoping to see it emerge from debt to future profitability. Investors are also hoping that the new administration in the US will be interested in increasing its involvement in the space business, with Elon Musk's SpaceX; the billionaire is also expected to take a new position in the US administration, as Secretary of Efficiency for the Department of DOGE. A day before the release of the results, the company's shares are up 19%.
- In September, Intuitive Machines was awarded a contract to supply communications and navigation systems, valued at up to $4.83 billion. In August, in turn, the company recorded a contract valued at nearly $117 millions, which included the delivery of scientific and technological payloads that will be launched to the Moon's South Pole; the company recently celebrated the successful landing of the Nova-C rover, on the Moon.
The company also said the new hardware infrastructure would lower the cost of missions to the moon, which, given the Artemis program and rivalry with China, could take its business to a whole new level. The company debuted on the stock market in 2021, and so far its stock, alongside space hardware maker Redwire (RDW.US), is doing best among its competitors. During last week, Intuitive's director and one of the significant shareholders, Kamal Ghafarrian, sold more than 596k company shares.
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Source: xStation5
