{
  "id": 2410598,
  "title": "Intuitive Machines (LUNR) Hits Record $1.8B Backlog as Spending Scales Up",
  "url": "https://urgent.news/2026/08/21/intuitive-machines-lunr-hits-record-1-8b-backlog-as-spending-scales-up",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T16:50:51.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/intuitive-machines-lunr-hits-record-165051224.html"
  },
  "original_language": "en",
  "account": "Intuitive Machines (LUNR) has reported a record $1.8 billion backlog and quadrupled its second-quarter revenue to $206 million. The company anticipates revenue between $900 million and $1 billion for the year, with adjusted EBITDA still positive in 2026. Bookings reached $1.7 billion this year, with $1.2 billion in Q2, the highest quarterly total ever. Backlog is now 37% civil, 49% commercial, and 14% national security, with Q2 bookings 50% commercial and 30% national security. Intuitive Machines secured NASA's CS-8 lunar delivery mission and 16 satellites for SDA's Tranche 1 tracking layer, plus another 18 satellites for Tranche 3 and 18 for the Golden Dome missile defense architecture. Commercially, it landed three geostationary communication satellites worth over $600 million and deployed SiriusXM-11. Gross profit increased to $36 million from negative $12 million, but operating loss widened to $47 million due to higher SG&A, amortization, and a $14.7 million cost adjustment for the IM-4 lunar lander program. The company is raising $235 million in net proceeds through its at-the-market stock program, with capital expenditures totaling $24 million for its NSNS satellite constellation and ground network, with CapEx expected to remain elevated. Hedge fund ownership climbed to 30 funds, while short sellers account for 27.14% of the float, indicating skepticism about whether the backlog will convert into results or if cash burn will catch up.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}