Intuitive Machines, Inc.
For the period ended Mar 31, 2026. Filed May 15, 2026.
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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.
Mar 31, 2026 · Filed May 15, 2026
LUNR$11.81-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(52,528) | $975 |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 13,048 | 623 |
| Bad debt expense | 357 | — |
| Amortization of debt discount and issuance costs | 277 | — |
| Share-based compensation expense | 8,842 | 2,844 |
| Change in fair value of earn-out liabilities | — | 33,369 |
| Change in fair value of warrant liabilities | 9,422 | (43,002) |
| Change in fair value of contingent consideration liabilities | 521 | — |
| Other | (1,927) | 194 |
| Changes in operating assets and liabilities: | ||
| Trade and other receivables, net | 1,275 | 15,418 |
| Inventory, net | (1,726) | — |
| Contract assets | (12,642) | 13,077 |
| Prepaid expenses | (17,685) | (1,576) |
| Orbital receivables, net | 7,689 | — |
| Other assets, net | 3,012 | 547 |
| Accounts payable and accrued expenses | 26,483 | 5,856 |
| Accounts payable – affiliated companies | 682 | 1,789 |
| Contract liabilities – current and long-term | (17,119) | (8,626) |
| Securitization liabilities | (2,692) | — |
| Pension and other postretirement benefits | (2,763) | — |
| Other liabilities | (17,294) | (2,069) |
| Net cash provided by (used in) operating activities | (54,768) | 19,419 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (9,876) | (6,122) |
| Acquisition of businesses, net of cash acquired | (444,779) | — |
| Net cash used in investing activities | (454,655) | (6,122) |
| Cash flows from financing activities: | ||
| Warrants exercised | — | 176,620 |
| Redemption of warrants | — | (66) |
| Transaction costs related to the issuance of securities | (7,550) | — |
| Repurchase of Class A Common Stock | — | (20,700) |
| Proceeds from issuance of securities | 175,000 | — |
| Payment of withholding taxes from share-based awards | (1) | (3,505) |
| Net cash provided by financing activities | 167,449 | 152,349 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (341,974) | 165,646 |
| Cash, cash equivalents and restricted cash at beginning of the period | 585,339 | 209,649 |
| Cash, cash equivalents and restricted cash at end of the period | 243,365 | 375,295 |
| Less: restricted cash | 11,741 | 2,042 |
| Cash and cash equivalents at end of the period | $231,624 | $373,253 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest | $23 | $— |
| Cash paid for taxes | $70 | $66 |
| Accrued capital expenditures | $10,092 | $930 |
| Noncash investing activities: | ||
| Class A Common Stock issued in acquisition, at fair value | $403,952 | $— |
| Noncash financing activities: | ||
| Issuance of Class C Common Stock related to earn-out awards (Note 16) | $— | $167,525 |
| Preferred dividends | $(162) | $(147) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.