In a stunning turn of events, shares of Intuitive Machines (LUNR) have skyrocketed by an impressive 17.7%, making it one of the top gainers in today’s market. The space technology company has been on a wild ride lately, with its stock price plummeting after a moon mission mishap just two weeks ago.

However, investors are clearly optimistic about Intuitive Machines’ future prospects, as evidenced by the significant jump in share value. So, what’s behind this sudden surge? Let’s dive into the numbers and explore why LUNR is making headlines today.

Record-Breaking Backlog

Intuitive Machines reported a record-breaking quarterly backlog of $328.3 million, representing a 22% increase from last quarter. This impressive growth can be attributed to new awards primarily associated with contracts from NASA, as well as task order modifications to other existing contracts. The company’s CEO, Steve Altemus, credited the firm’s “proven technologies and expertise” for propelling it beyond NASA and into new markets.

Sales Soar

The space technology provider also saw a significant jump in sales, with revenue soaring 80% year-over-year to $54.7 million. While costs skyrocketed, resulting in adjusted EBITDA sinking by 146%, the company’s focus on expanding its customer base and diversifying its services seems to be paying off.

Positive Outlook

Intuitive Machines is optimistic about its future prospects, with a full-year revenue forecast of $250-300 million. The company also anticipates positive run-rate adjusted EBITDA by the end of 2025 and predicts positive adjusted EBITDA for 2026.

While there are certainly risks associated with investing in space technology companies like Intuitive Machines, today’s news suggests that investors believe the potential rewards outweigh these concerns. As always, it’s essential to do your own research and consider multiple perspectives before making any investment decisions.

What’s Next?

With its record-breaking backlog and sales surge, Intuitive Machines is certainly an exciting stock to watch in the coming months. Will this momentum continue, or will investors’ enthusiasm wane as we move forward?

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Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Please do your own research before making any investment decisions.