Why Intuitive Machines (LUNR) Is Up 17.2% After Winning US$600 Million-Plus Satellite Deal

Intuitive Machines announced a $600M contract to build 3 GEO satellites, boosting its backlog to $1.8B. The deal, part of $920M in Q2 bookings, diversifies its portfolio across commercial, civil, and national security sectors. The award follows its $800M acquisition of Maxar Space Systems' assets in January 2026.

Intuitive Machines (LUNR) reported Q2 revenue of $206.2M, with backlog at $1.8B. Growth driven by spacecraft manufacturing, NASA contracts, and national security projects. Commercial demand increased with a $600M contract for GEO satellites. National security revenue rose to 30% of total. LUNR aims to expand space infrastructure, targeting recurring revenue. EPS estimates show a 57.14% decrease for 2026, followed by a 52.19% increase in 2027. LUNR trades at a 4.14X P/S premium. Shares rose 10% i

Intuitive Machines (LUNR) reported Q2 earnings below expectations, with a net loss of $0.29 per share and revenue of $206.2M, missing Wall Street targets. Despite this, shares rose 10.5% as the company reaffirmed its full-year guidance and announced plans for a lunar satellite constellation by 2028, with a backlog of $1.8B.

Intuitive Machines (NASDAQ: LUNR) said NASA’s JPL selected it to provide the spacecraft platform, system-level integration, and mission solutions for EAGLE-VSWIR, an Earth observation mission. The mission will use the IM 300TM bus and target a 2028 launch, with a hyperspectral VSWIR instrument. The award is the second NASA LEO science mission it supports.

Intuitive Machines (LUNR) shares rose about 6% after the company said an undisclosed customer hired it for a $600 million, multi-satellite space communications infrastructure using its IM 1300TM platform. The customer, satellite count, launch details, and per-satellite pricing were not disclosed. Investors will watch contract duration and annual revenue impact.

Intuitive Machines said it was authorized to proceed with a multi-satellite communications infrastructure program worth over $600 million, using its satellite communications capabilities and IM 1300 platform to design, build, integrate and support multiple spacecraft. The customer and program details were not disclosed. The company frames this as part of its build, connect and operate strategy.