Q2 2024 Intuitive Machines Inc Earnings Call Transcript
Key Points
- Revenue for the first half of the year was $114.5 million, surpassing all of 2023's revenue.
- Q2 revenues increased by 130% year-over-year, reaching $41.4 million.
- Intuitive Machines Inc (LUNR) has zero debt on its balance sheet and sufficient cash to fund expected operations for the next 12 months.
- The company booked nearly $70 million of new backlog so far this year, with several sizable opportunities still on the horizon.
- Intuitive Machines Inc (LUNR) raised the low end of its full-year 2024 revenue outlook from $200 million to $210 million, resulting in a new range of $210 million to $240 million.
- Operating loss for the quarter was $28.2 million, up from $13.2 million in the second quarter of 2023.
- Higher SG&A expenses due to increases in public company costs, employee compensation benefits, stock-based compensation, and rent on the new corporate headquarters.
- Free cash flow in the quarter was an outflow of $33.5 million, driven predominantly by $21.5 million of launch provider payments.
- The company faces schedule uncertainty for its next two missions, impacting revenue recognition and operational planning.
- Intuitive Machines Inc (LUNR) is still awaiting key contract awards, such as the NSNS and CP22, which introduces some uncertainty in future revenue projections.
Ladies and gentlemen, thank you for standing by, and welcome to the Intuitive Machines second-quarter 2024 conference call. (Operator instructions) Please be advised that today's conference is being recorded. I would now like to turn the conference over to Stephen Zhang, Head of Investor Relations. Go ahead.
Good morning, and welcome to the Intuitive Machines second-quarter 2024 earnings call, Chief Executive Officer, Steve Altemus; and Interim Chief Financial Officer and Controller. Steve Vontour are leading the call today.
Before we begin, please note that some of the information discussed during today's call will consist of forward-looking statements setting forth our current expectations with respect to the future of our business, the economy and other events. The Company's actual results could differ materially from those indicated in any forward-looking statements due to many factors.
These factors are described under forward-looking statements in the company's earnings
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
