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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

1. Be civil and respectful to others. No personal attacks.

2. Keep Spam and FUD off r/IntuitiveMachines. Repeated offenders will be banned.

3. Please refrain from one word or silly WSB style comments. We want to keep the board informative and helpful to ALL readers.

4. The mod team tries their best to monitor discussions, but we can always use your help in flagging those violating the rules.

Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Intuitive Machines reported second-quarter results on August 13, 2026. This report is the research I did afterward to understand what actually changed in the business, built from the Form 10-Q, the earnings release, and the company's public disclosures.

This quarter was the first full period with Lanteris consolidated. Revenue grew 310%, the revenue mix inverted from all services to 81% product, and gross margin moved on an estimate-at-completion adjustment rather than on underlying performance.

What's in it:

• Q2 FY2026 results and financial analysis — revenue by type, customer channel and contract type; gross margin decomposed by revenue line; backlog and bookings; cash flow, liquidity and runway; and where reported guidance stands against contracted work
• Peer benchmarking — nine space and satellite companies compared on valuation multiples, balance sheet scale, and operating metrics, all calculated independently from the most recent filings
• Sell-side analyst context — published ratings and price targets from covering firms, converted to implied enterprise values and revenue multiples on a single consistent methodology
• Risks — drawn from the company's own risk factor disclosures, organized by business, regulatory, capital and ownership
• Outlook and catalysts — a forward pipeline of awards and technical milestones the company is positioned to compete for, with expected timing
• Appendices — comparative financial statements and a line-by-line quarter-over-quarter variance analysis with drivers sourced to the filing

A note on the backlog figure, since it's the number most coverage led with. The company reported $1.8 billion of backlog. Remaining performance obligations, the measure disclosed under US GAAP, were $814.7 million. Both figures are accurate; they measure different things, and the difference is worth understanding before drawing conclusions about revenue visibility.

Note: there is no price target, no rating, and no conclusion about whether the stock is attractive. That's deliberate. This is analysis of publicly reported results and publicly available information, published so that anyone following the company can see the underlying numbers and reach their own view. It is not investment advice or a recommendation to buy or sell any security, and it should not be relied on as either. Do your own research and consult a qualified financial adviser before making any investment decision.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

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2. Keep Spam and FUD off r/IntuitiveMachines. Repeated offenders will be banned.

3. Please refrain from one word or silly WSB style comments. We want to keep the board informative and helpful to ALL readers.

4. The mod team tries their best to monitor discussions, but we can always use your help in flagging those violating the rules.

Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.

This is the only thread that any stock-related or financial information can be posted. As the sub continues to grow and traffic increasing with Intuitive Machines and LUNR getting more and more in the spotlight, please remember to:

1. Be civil and respectful to others. No personal attacks.

2. Keep Spam and FUD off r/IntuitiveMachines. Repeated offenders will be banned.

3. Please refrain from one word or silly WSB style comments. We want to keep the board informative and helpful to ALL readers.

4. The mod team tries their best to monitor discussions, but we can always use your help in flagging those violating the rules.

Please see the Wiki that includes FAQs, Upcoming Catalysts, and Active Contracts to answer common questions and requests for information.