Filing Flows › Intuitive Machines (LUNR) › Q4 2025
Intuitive Machines (LUNR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 19, 2026
Intuitive Machines (LUNR) reported revenue of $44.8M for the fourth quarter 2025 (Q4 2025), -18% from a year earlier and -15% from the quarter before. Operating margin was -73.9%, net loss $59.7M (133.2% of revenue).
Intuitive Machines, Q4 2025: revenue $44.8M (-18% year over year), operating margin -73.9%, net loss $59.7M, operating cash flow −$7.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.8M | -15% | -18% |
| Operating profit | −$33.1M | — | — |
| Net earnings | −$59.7M | — | — |
| Operating cash flow | −$7.3M | — | — |
What changed
Revenue was $44.8M in Q4 2025, down 18% year over year and down 15% from the previous quarter.
Operating costs exceeded revenue by $33.1M, an operating margin of -73.9%. Total costs grew 14% against a revenue fall of 18%. The fastest-growing cost line was General & admin (+197%). The quarter ended with a net loss of $59.7M, wider than the previous quarter's $10.0M loss. Minority interests bore $19.8M of it: to shareholders the quarter was a loss of $39.9M.
Operating cash flow was −$7.3M. Non-cash charges added back $1.4M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $49.1M. Capital expenditures of $15.6M exceeded it, leaving free cash flow of −$22.9M.
Questions
What was Intuitive Machines' revenue in the fourth quarter 2025?
Intuitive Machines (LUNR) reported revenue of $44.8M for the fourth quarter 2025 (Q4 2025), -18% from a year earlier and -15% from the quarter before.
Was Intuitive Machines profitable in the fourth quarter 2025?
Operating loss was $33.1M (-73.9% of revenue) and net loss $59.7M.
Source: Intuitive Machines 10-K on SEC EDGAR.