Intuitive Machines Inc
For the period ended Sep 30, 2024. Filed Nov 15, 2024.
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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, 2024 · Filed Nov 15, 2024
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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(181,787) | $7,163 |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 1,319 | 944 |
| Bad debt expense (recovery) | 440 | (836) |
| Impairment of property and equipment (see Note 4) | 5,044 | — |
| Share-based compensation expense | 7,180 | 2,748 |
| Change in fair value of SAFE Agreements | — | 2,353 |
| Change in fair value of earn-out liabilities | 33,816 | (61,066) |
| Change in fair value of warrant liabilities | 36,641 | (10,259) |
| Loss on issuance of securities | 68,080 | 6,729 |
| Other | 108 | 25 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable, net | (34,871) | (314) |
| Contract assets | (15,083) | 4,974 |
| Prepaid expenses | (55) | (1,471) |
| Other assets, net | 852 | 539 |
| Accounts payable and accrued expenses | 2,194 | 6,995 |
| Accounts payable – affiliated companies | 238 | 1,568 |
| Contract liabilities – current and long-term | 14,314 | (6,285) |
| Other liabilities | 5,948 | 23,260 |
| Net cash used in operating activities | (55,622) | (22,933) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (5,185) | (27,668) |
| Net cash used in investing activities | (5,185) | (27,668) |
| Cash flows from financing activities: | ||
| Proceeds from Business Combination | — | 8,055 |
| Proceeds from issuance of Series A Preferred Stock | — | 26,000 |
| Transaction costs | (437) | (9,371) |
| Proceeds from borrowings | 10,000 | — |
| Repayment of loans | (18,000) | — |
| Proceeds from issuance of securities | 107,935 | 20,000 |
| Member distributions | — | (7,952) |
| Stock option exercises | 300 | — |
| Payment of withholding taxes from share-based awards | (2,291) | (293) |
| Forward purchase agreement termination | — | 12,730 |
| Warrants exercised | 51,360 | 16,124 |
| Contributions from (distributions to) noncontrolling interests | (973) | 196 |
| Net cash provided by financing activities | 147,894 | 65,489 |
| Net increase in cash, cash equivalents and restricted cash | 87,087 | 14,888 |
| Cash, cash equivalents and restricted cash at beginning of the period | 4,560 | 25,826 |
| Cash, cash equivalents and restricted cash at end of the period | 91,647 | 40,714 |
| Less: restricted cash | 2,042 | 62 |
| Cash and cash equivalents at end of the period | $89,605 | $40,652 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest, net | $408 | $1,423 |
| Cash paid for taxes | $277 | $36 |
| Accrued capital expenditures | $— | $579 |
| Noncash operating activities: | ||
| Right-of-use assets obtained in exchange for new operating liabilities | $4,264 | $— |
| Noncash financing activities: | ||
| Transaction costs | $— | $15,074 |
| SAFE Agreements | $— | $20,667 |
| Class A Common Stock related to Equity Facility (Note 7) | $— | $834 |
| Conversion of Series A preferred stock (Note 7) | $23,120 | $— |
| Preferred dividends | $(751) | $(1,657) |
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