Filing Flows › Intuitive Machines (LUNR) › Q1 2026
Intuitive Machines (LUNR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Intuitive Machines (LUNR) reported revenue of $187M for the first quarter 2026 (Q1 2026), +199% from a year earlier and +317% from the quarter before. Operating margin was -21.0%, net loss $52.5M (28.1% of revenue).
Intuitive Machines, Q1 2026: revenue $187M (+199% year over year), operating margin -21.0%, net loss $52.5M, operating cash flow −$54.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $187M | +317% | +199% |
| Operating profit | −$39.2M | — | — |
| Net earnings | −$52.5M | — | -5487% |
| Operating cash flow | −$54.8M | — | -382% |
What changed
Revenue was $186.7M in Q1 2026, up 199% year over year and up 317% from the previous quarter. Product revenue was the largest line at 76% of revenue. Service revenue declined 33%.
Operating costs exceeded revenue by $39.2M, an operating margin of -21.0%. Total costs grew 211% against revenue growth of 199%. The fastest-growing cost line was Research & development (+514%). The quarter ended with a net loss of $52.5M, narrower than the previous quarter's $59.7M loss. Minority interests bore $15.1M of it: to shareholders the quarter was a loss of $37.4M.
Operating cash flow was −$54.8M. Non-cash charges added back $13.0M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items used $24.1M. Capital expenditures of $9.9M exceeded it, leaving free cash flow of −$64.6M.
Questions
What was Intuitive Machines' revenue in the first quarter 2026?
Intuitive Machines (LUNR) reported revenue of $187M for the first quarter 2026 (Q1 2026), +199% from a year earlier and +317% from the quarter before.
Was Intuitive Machines profitable in the first quarter 2026?
Operating loss was $39.2M (-21.0% of revenue) and net loss $52.5M.
Source: Intuitive Machines 10-Q on SEC EDGAR.