Intuitive Machines posts record Q3 revenue, positive adjusted EBITDA and $1.9 bn backlog
Intuitive Machines reported third‑quarter 2026 revenue of $269 million, a 31% sequential increase, and posted its first positive adjusted EBITDA of $8.3 million. The company generated record free cash flow of $33 million, lifted cash balances to $463.8 million and expanded its backlog to a record $1.9 billion with $450 million of new contract awards. Management guided FY 2026 revenue to $920 million‑$950 million and expects 13%‑15% of the backlog to convert to revenue in Q4.
Why it matters
The company said the strong cash generation and backlog expansion position it for higher 2026 revenue, as reflected in its FY 2026 outlook. Investors may view the positive adjusted EBITDA and record free cash flow as a shift toward profitability.
Key facts
- 1Revenue was $269 million, up 31% sequentially. investing.com
- 2Adjusted EBITDA turned positive at $8.3 million. investing.com
- 3Free cash flow reached $33 million. investing.com
- 4Cash and equivalents increased to $463.8 million. investing.com
- 5Backlog grew to $1.9 billion, including $450 million of new contract awards. investing.com
- 6FY 2026 revenue outlook was $920 million‑$950 million. seekingalpha.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.