Overview
- The company reported $186.7 million in Q1 revenue versus higher forecasts, a loss of $0.25 per share against a $0.06 estimate, and $2.7 million in positive adjusted EBITDA, with sales nearly tripling from a year ago.
- Shares slipped about 3.7% in pre-market trading after the release, reflecting concern over the gap to expectations despite sizable growth and a recent run-up tied to contract news.
- Backlog reached a record $1.1 billion as new awards totaled $428.9 million, including a Space Development Agency tracking-layer award and a $180.4 million NASA CLPS task order.
- Management said the January 13 Lanteris deal helped drive results yet left about $13 million of early-quarter revenue out of Q1, and it kept full-year guidance at $900 million to $1 billion with positive adjusted EBITDA.
- Intuitive Machines gained a slot on the U.S. Space Force’s Andromeda IDIQ for space domain awareness in geosynchronous orbit, which lets it bid on work but brings no revenue until task orders are won, and it signed an agreement to buy Goonhilly Earth Station to add a space-to-ground data network.