Intuitive Machines secures NASA contracts for Direct-to-Earth services, enhancing lunar mission support and communication capabilities.
Quiver AI Summary
Intuitive Machines, Inc. has announced the acquisition of additional contracts from NASA’s Near Space Network to provide Direct-to-Earth services, enhancing its role as a key supporter of NASA's lunar missions. The new firm-fixed-price contracts focus on geostationary and elliptical orbit communication and navigation services, which are essential for missions departing Earth's orbit and exploring deep space. These agreements aim to increase capacity within NASA's Lunar Exploration Ground Segment while reducing pressure on the Deep Space Network. Intuitive Machines also plans to capitalize on the broader $4.82 billion potential of the contracts, aiming to support NASA's Artemis program and the growth of the lunar economy. The project timelines range from February 2025 to September 2029, with an option to extend through 2034.
Potential Positives
- Intuitive Machines secured additional contracts from NASA's Near Space Network, enhancing its role as a key partner in supporting lunar and deep space missions.
- These contracts include firm-fixed-price task orders, which may provide stable revenue streams and contribute to the company's financial growth with a maximum potential value of $4.82 billion.
- The success of their previous lunar mission, where they transmitted data from beyond Earth's orbit, demonstrates their capability and reliability in space communications.
- The project timelines extend to September 2034, indicating long-term engagements that may lead to sustained business and operational continuity for Intuitive Machines.
Potential Negatives
- The press release heavily relies on forward-looking statements, which come with significant risks and uncertainties, indicating that actual results may differ materially from stated expectations.
- There is an implication of reliance on multiple complex contracts with NASA, which may pose execution risks if challenges arise in fulfilling the terms successfully.
- The extended project timelines for the contracts span several years, indicating a long wait before potential revenue realization, which might concern investors seeking immediate returns.
FAQ
What services has Intuitive Machines secured from NASA?
Intuitive Machines has secured additional contracts for Direct-to-Earth services to support NASA's Near Space Network missions.
How do the new contracts enhance space exploration?
The contracts improve communication and navigation services necessary for missions to exit Earth's orbit and explore lunar and deep space destinations.
What is the total potential value of the NASA contract?
The maximum potential value of the NASA Near Space Network contract is $4.82 billion.
What recent milestone did Intuitive Machines achieve in lunar exploration?
In 2024, Intuitive Machines successfully landed its Nova-C class lunar lander, marking the return of the U.S. to the lunar surface.
How long will the new contracts last?
The project timelines for the new contracts span from February 2025 to September 2029, with a possible five-year extension.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LUNR Insider Trading Activity
$LUNR insiders have traded $LUNR stock on the open market 43 times in the past 6 months. Of those trades, 0 have been purchases and 43 have been sales.
Here’s a breakdown of recent trading of $LUNR stock by insiders over the last 6 months:
- STEVEN VONTUR (See Remarks) has traded it 2 times. They made 0 purchases and 2 sales, selling 11,220 shares.
- KAMAL SEYED GHAFFARIAN has traded it 15 times. They made 0 purchases and 15 sales, selling 4,913,649 shares.
- TIMOTHY PRICE II CRAIN (SVP and Chief Growth Officer) has traded it 12 times. They made 0 purchases and 12 sales, selling 1,852,857 shares.
- STEPHEN J ALTEMUS (Chief Executive Officer) has traded it 11 times. They made 0 purchases and 11 sales, selling 3,000,000 shares.
- MICHAEL BLITZER has traded it 3 times. They made 0 purchases and 3 sales, selling 912,673 shares.
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$LUNR Hedge Fund Activity
We have seen 88 institutional investors add shares of $LUNR stock to their portfolio, and 38 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 2,317,988 shares (+572.3%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 1,807,246 shares (-99.8%) from their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 1,356,495 shares (+inf%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 611,682 shares (+inf%) to their portfolio in Q3 2024
- NUVEEN ASSET MANAGEMENT, LLC added 587,766 shares (+1519.8%) to their portfolio in Q3 2024
- SIMPLEX TRADING, LLC added 350,119 shares (+1289.3%) to their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 222,136 shares (+31.2%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HOUSTON, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines” or the “Company”), a space exploration, infrastructure, and services company, has secured additional contracts from NASA’s Near Space Network (“NSN”) for Direct-to-Earth (“DTE”) services. These contracts further position Intuitive Machines as a vital partner in supporting NASA’s missions to the Moon, and beyond.
DTE communication and navigation services are critical for enabling missions to exit Earth’s orbit, reach lunar destinations, and explore deep space. The new contract awards include:
Subcategory 1.2
: DTE Geostationary (“GEO”) to Cislunar DTE Services, offering enhanced data transmission capabilities and autonomous operations.
Subcategory 1.3
: xCislunar DTE Services, addressing mission needs for highly elliptical orbits and deep space operations.
Both contracts are firm-fixed-price, indefinite-delivery/indefinite-quantity task orders designed to bolster NASA’s Lunar Exploration Ground Segment. These awards add capacity to alleviate demand on the Deep Space Network and support unique mission requirements.
In September,
NASA awarded Intuitive Machines NSN Subcategory 2.2, which involves deploying and operating a constellation of lunar data relay satellites
.
“We are privileged to help NASA deliver essential data and transmission services that support missions navigating the critical pathways between Earth, the Moon, and beyond,” said Intuitive Machines CEO Steve Altemus. “We believe these new awards complement our existing NSN contract and will expand our space communications and navigation service offerings. They position us to capitalize on the $4.82 billion maximum potential value of the NSN contract, while supporting NASA’s Artemis campaign and commercial endeavors to expand the lunar economy.”
Intuitive Machines intends to leverage its proven DTE lunar data transmission network, supported by long-term agreements with strategically located radio astronomy dishes worldwide. During its
first lunar mission
, the Company successfully transmitted data from beyond the Earth’s orbit, around the Moon, and on the Moon’s surface.
Project timelines for these contracts span February 2025 to September 2029, with an additional five-year option period that could extend a contract through September 30, 2034.
About Intuitive Machines
Intuitive Machines is a diversified space exploration, infrastructure, and services company focused on fundamentally disrupting lunar access economics. In 2024, Intuitive Machines successfully landed the Company’s Nova-C class lunar lander, Odysseus, on the Moon, returning the United States to the lunar surface for the first time since 1972. The Company’s products and services are offered through its four in-space business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure. For more information, please visit intuitivemachines.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations regarding revenue for government contracts awarded to us, including under the NSN contract; our operations, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; information regarding our expectations on revenue generation and cash. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at
www.sec.gov
.
These forward-looking statements are based on information available as of the date of this press release and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
Contacts
For investor inquiries:
investors@intuitivemachines.com
For media inquiries:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
