Al Root

Shares of commercial space technology company Intuitive Machines rose after the company reported solid first-quarter results while maintaining full-year financial guidance. The quarter gave investors a chance to catch their breath.

Intuitive on Tuesday reported a $10.1 million operating loss from sales of $62.5 million. Wall Street was looking for a loss of $11.2 million from sales of $63.4 million, according to FactSet. A year ago, Intuitive reported a $2.8 million loss from $73.2 million in sales.

Intuitive is still a relatively new company. Quarterly revenue fluctuates depending on the pace of contract awards and missions. For 2025, the company still expects to generate sales of between $250 and $300 million. Wall Street projects $272 million, up from $228 million generated in 2024.

The company also expects to produce positive earnings before interest, taxes, depreciation, and amortization, or Ebitda, in 2026. The guidance matches what the company provided in March.

"We continue to emphasize execution as we see the administration rethinking how the federal government acquires emerging technologies and services, instigates private-sector innovation, and creates long-term value," Intuitive Machines CEO Steve Altemus said in a news release. "Intuitive Machines brings proven performance and speed to market across [several space programs] with a track record of stretching the federal dollar through innovation that scales."

Shares of the space technology company were up 14% at $10.85 in premarket trading. Futures on the S&P 500 were up 0.1%.

Coming into Tuesday, Intuitive stock has fallen 48% this year. Some problems with the company's second moon mission have weighed on shares. Intuitive's lunar lander, Athena, tipped over after landing near the moon's south pole.

Intuitive investors, however, are used to volatility. Shares have gained 57% over the past 12 months and have ranged from about $3 to $25 over that span. The $22 range is more than 200% of the current stock price. That is unusual. The peak-to-trough range for GE Aerospace is about $70 a share or 30% of recent stock prices.

Intuitive ended the quarter with about $373 million in cash. Wall Street projects cash use of less than $65 million in 2025 and 2026 combined. Positive free cash flow is expected when sales hit about $500 million annually.

The company will need to continue to win awards from NASA and others to reach that milestone.

Write to Al Root at allen.root@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

May 13, 2025 09:13 ET (13:13 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.