The last few weeks have been eventful for space-exploration company Intuitive Machines Inc., which recently ended its second moon-landing mission after less than 24 hours on the lunar surface.
Nonetheless, the company has its sights set firmly on the future, with a backlog of future projects a highlight of its fourth-quarter results Monday.
Intuitive Machines’ stock was up 9% in premarket trading on Monday after its fourth-quarter revenue climbed 79% year-over-year.
“Today, we stand stronger than ever— financially secure, debt-free, and ready to take the next leap,” Intuitive Machines Chief Executive Steve Altemus said in a statement.
The company’s robust backlog has already been cited as a positive for Intuitive Machines, which has won a slew of lucrative contracts, such as NASA’s Near Space Network contract, which could be worth up to $4.82 billion.
Speaking during a conference call to discuss the results, Altemus said that the company’s next moon mission, IM-3, is on track for this time next year. The mission will also deploy the first of five data relay satellites for the NSN contract, he said.
Intuitive Machines reported a net loss of $149.3 million, compared with a profit of $7.7 million in the prior year’s quarter. Intuitive Machines did not provide a loss-per-share number. Analysts surveyed by FactSet were looking for a loss of 8 cents a share.
The Houston-based company gave a full-year revenue outlook of $250 million to $300 million, below the FactSet consensus estimate of $329.6 million.
Intuitive Machines is one of a number of space stocks that have been in the spotlight recently. Earlier this month the company’s Athena lander toppled over after touching down on the Moon, although mission controllers were able to communicate with it. However, Intuitive Machines ended the mission after less than 24 hours on the surface.
Last year Intuitive Machines made history when its Odysseus lander became the first commercial lander to successfully land on the moon’s surface.
Intuitive Machines shares are up 15.3% in the last 12 months, outpacing the S&P 500 index’s gain of 8.3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.