Intuitive Machines, Inc. (LUNR)

Intuitive Machines, Inc. (NASDAQ: LUNR), founded in 2013 and headquartered with facilities in Texas, California, Arizona, Maryland, and Colorado, is a space infrastructure and services company focused on enabling sustained infrastructure and human activity beyond Earth across low Earth orbit (LEO), geostationary orbit (GEO), cislunar space, and deep space. The company became a public holding company in February 2023 following its business combination with Inflection Point Acquisition Corp., and has since expanded through the October 2025 acquisition of KinetX and the January 2026 acquisition of Lanteris Space Holdings, the latter bringing decades of GEO satellite manufacturing expertise, including the widely used 1300-class satellite platform. Intuitive Machines operates under an integrated "Build-Connect-Operate" strategy: Build involves designing, manufacturing, and delivering spacecraft, landers, satellites, surface systems, propulsion, and avionics; Connect involves integrating these assets into communications, navigation, and data relay networks; and Operate involves providing mission operations, hosted payload services, data services, and navigation/timing capabilities, aiming to shift from mission-based delivery toward recurring, service-based infrastructure revenue.

The company's primary customer is NASA, for whom it has secured multiple Commercial Lunar Payload Services (CLPS) lunar delivery contracts (having completed IM-1 and IM-2 missions), is developing the Gateway Power and Propulsion Element, is a prime contractor on the Lunar Terrain Vehicle program, and provides Near Space Network communications and data relay services. It also serves national security customers, including the Space Development Agency (building satellite buses for Tranche 1 and 2 Tracking Layer programs with L3Harris), the Missile Defense Agency (SHIELD program), and the U.S. Air Force Research Laboratory (JETSON/START contracts). Commercial and international customers include Columbia Sportswear, Nokia, AstroForge, Lonestar Data Holdings, Hughes Network Systems, Vantor, and various global telecommunications and space agency clients, alongside partnerships with firms such as Boeing, Northrop Grumman, Michelin, Leonardo, and Telespazio.

As of March 11, 2026, the company had approximately 159.4 million Class A shares and 57.4 million Class C shares outstanding, with a non-affiliate market value of Class A common stock of approximately $1.3 billion as of June 30, 2025; it is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, and is not a shell company.