Intuitive Machines, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
LUNR$12.04+15.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
(in thousands, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues: | ||||
| Service revenue | $50,987 | $58,478 | $163,824 | $173,338 |
| Grant revenue | 1,450 | — | 1,450 | — |
| Total revenues | 52,437 | 58,478 | 165,274 | 173,338 |
| Operating expenses: | ||||
| Cost of revenue (excluding depreciation) | 41,033 | 45,873 | 146,005 | 144,141 |
| Cost of revenue (excluding depreciation) - affiliated companies | 5,736 | 8,484 | 18,767 | 27,107 |
| Depreciation | 815 | 482 | 2,190 | 1,319 |
| Impairment of property and equipment (see Note 4) | — | 5,044 | — | 5,044 |
| General and administrative expense (excluding depreciation) | 20,272 | 12,319 | 52,448 | 39,726 |
| Total operating expenses | 67,856 | 72,202 | 219,410 | 217,337 |
| Operating loss | (15,419) | (13,724) | (54,136) | (43,999) |
| Other income (expense), net: | ||||
| Interest income | 4,833 | 44 | 9,752 | 118 |
| Interest expense | (1,344) | (13) | (1,442) | (87) |
| Change in fair value of earn-out liabilities | — | (33,328) | (33,369) | (33,816) |
| Change in fair value of warrant liabilities | 1,950 | (33,686) | 31,919 | (36,641) |
| Loss on issuance of securities | — | — | — | (68,080) |
| Other income, net | 25 | 346 | 90 | 768 |
| Total other income (expense), net | 5,464 | (66,637) | 6,950 | (137,738) |
| Loss before income taxes | (9,955) | (80,361) | (47,186) | (181,737) |
| Income tax expense | (5) | (50) | (5) | (50) |
| Net loss | (9,960) | (80,411) | (47,191) | (181,787) |
| Net loss attributable to redeemable noncontrolling interest | (3,445) | (25,679) | (4,944) | (50,001) |
| Net income attributable to noncontrolling interest | 327 | 668 | 1,172 | 2,429 |
| Net loss attributable to the Company | (6,842) | (55,400) | (43,419) | (134,215) |
| Less: Preferred dividends | (158) | (143) | (456) | (751) |
| Net loss attributable to Class A common shareholders | $(7,000) | $(55,543) | $(43,875) | $(134,966) |
| Net loss per share | ||||
| Net loss per share of Class A common stock - basic and diluted | $(0.06) | $(0.83) | $(0.38) | $(2.55) |
| Weighted-average common shares outstanding | ||||
| Weighted average shares outstanding - basic and diluted | 117,815,856 | 67,072,014 | 114,150,168 | 52,971,882 |
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