Intuitive Machines Jumps 16% for Week as $1.8 Billion Backlog Offsets Target Cuts
Updated
Updated · Yahoo Finance · Aug 17
Intuitive Machines Jumps 16% for Week as $1.8 Billion Backlog Offsets Target Cuts
3 articles · Updated · Yahoo Finance · Aug 17
Summary
Intuitive Machines shares rose 8% Friday to $19.01, extending their weekly gain to 16% as investors focused on a record $1.8 billion backlog and upcoming lunar and defense catalysts.
B. Riley cut its target to $43 from $45 and Cantor Fitzgerald to $32 from $43, but both kept bullish ratings, arguing the backlog, contract wins and NASA and defense awards still support strong upside.
Q2 results were mixed: Intuitive Machines posted a $0.29-per-share loss versus a $0.07 expected loss, while revenue of $206.17 million missed forecasts but topped the year-ago level by more than fourfold.
The company reaffirmed its 2026 revenue outlook of $900 million to $1 billion and positive adjusted EBITDA, saying contract timing—not demand—is the main variable in converting backlog to sales.
More than 80 spacecraft are under contract, and management expects 25% to 30% of Q2 backlog to convert into 2026 revenue, followed by 35% to 40% in 2027.