Filing Flows › Intuitive Machines (LUNR) › Q3 2025
Intuitive Machines (LUNR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Intuitive Machines (LUNR) reported revenue of $52.4M for the third quarter 2025 (Q3 2025), -10% from a year earlier and +4% from the quarter before. Operating margin was -29.4%, net loss $10.0M (19.0% of revenue).
Intuitive Machines, Q3 2025: revenue $52.4M (-10% year over year), operating margin -29.4%, net loss $10.0M, operating cash flow −$7.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $52.4M | +4% | -10% |
| Operating profit | −$15.4M | — | — |
| Net earnings | −$10.0M | — | — |
| Operating cash flow | −$7.2M | — | — |
What changed
Revenue was $52.4M in Q3 2025, down 10% year over year and up 4% from the previous quarter.
Operating costs exceeded revenue by $15.4M, an operating margin of -29.4%. Total costs fell 6% while revenue fell 10%. The fastest-growing cost line was General & admin (+65%). The quarter ended with a net loss of $10.0M, narrower than the previous quarter's $38.2M loss. Minority interests bore $3.1M of it: to shareholders the quarter was a loss of $6.8M. Non-operating items added $5.5M, -55% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$7.2M. Non-cash charges added back $815K of depreciation and $1.4M of share-based compensation. Working capital and other items added $550K. Capital expenditures of $11.8M exceeded it, leaving free cash flow of −$19.0M.
Questions
What was Intuitive Machines' revenue in the third quarter 2025?
Intuitive Machines (LUNR) reported revenue of $52.4M for the third quarter 2025 (Q3 2025), -10% from a year earlier and +4% from the quarter before.
Was Intuitive Machines profitable in the third quarter 2025?
Operating loss was $15.4M (-29.4% of revenue) and net loss $10.0M.
Source: Intuitive Machines 10-Q on SEC EDGAR.