Astronautics company, Intuitive Machines Inc. (NASDAQ:LUNR), unveiled plans for its Near Space Network Services (NSNS) program, highlighting a strategic pivot toward recurring, high-margin revenue from lunar orbit infrastructure.

What Happened: During its first quarter earnings call on Tuesday, the company positioned its satellite-based relay and navigation network as a cornerstone of its long-term growth model.

“The Lunar Data Satellite constellation portion of NSNS is designed to provide secure and continuous connectivity for navigation, command, and control of spacecraft,” CEO Stephen Altemus says, adding that it will be used to serve a “wide array of customers while driving higher margin recurring revenue streams.”

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Altemus says that its customers include NASA, from which it has already secured an $18 million task order under its Commercial Lunar Payload Services (CLPS) program. He also expects this infrastructure to be used by “future commercial customers operating on or around the Moon.”

The company’s CFO, Peter McGrath, said during the call that, “We're building the assets, they're capital assets that we own. And then we're going to be selling them as a service.”

He then compared the NSNS business model to commercial satellite networks like Globalstar Inc. (NASDAQ:GSAT) or Iridium Communications Inc. (NASDAQ:IRDM), citing its potential to generate stable, service-based revenue.

The company expects to launch its first NSNS data relay satellite alongside its IM-3 lunar delivery mission in the first half of 2026.

Why It Matters: Intuitive has been dubbed one of the leading space stocks to watch as the industry scales new heights, as the company carves out a niche for itself in Lunar exploration, becoming a critical partner for NASA’s Artemis Program.

During its first quarter results on Tuesday, Intuitive reported $62.5 million in revenue, up 14% from the prior quarter, with $272.34 million in order backlog towards the end of the quarter.

Price Action: The stock was up 22.42% on Tuesday, trading at $11.63 per share, and is up 2.75% after hours.

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