LUNR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• Intuitive Machines, Inc., collectively with its subsidiaries (the “Company,” “IM,” “Intuitive Machines,” “we,” “us” or “our”) is a space infrastructure and services company founded in 2013 and focused on enabling sustained infrastructure and human activity beyond Earth. We believe the United States …

• We design, build, integrate and operate spacecraft, communications networks, and space systems that support operations across low Earth orbit (“LEO”), geostationary orbit (“GEO”), cislunar space, and deep space. Our strategy is to evolve space activity from single-mission execution toward continuous…

• Our operating model is organized around three integrated capabilities:

• •Build — designing, manufacturing, and delivering spacecraft, landers, satellites, surface systems, propulsion, and avionics for government and commercial customers;

• •Connect — integrating deployed assets into communications, navigation, command and control, and data relay networks that enable persistent connectivity; and

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• We are a space technology, infrastructure, and services company founded in 2013 that is contributing to the establishment of cislunar infrastructure and helping to develop cislunar and deep space commerce. Cislunar encompasses objects in orbit in the Earth-Moon system and on the Lunar surface, while…

• The United States (“U.S.”) government has indicated that returning to the Moon is of strategic importance to the U.S. and we believe it will continue to have bipartisan support as we enter the next generation space race with the People’s Republic of China (“China”). We believe that space is the next…

• The U.S. Space Force (“Space Force”) has recently begun to turn its attention to the cislunar space, as noted in the Mitchell Institute paper “Securing Cislunar Space and the First Island Off the Coast of Earth.” As the leading CLPS provider and the first company to have successfully landed and oper…

• We primarily generate revenue through our contracts with customers of our orbital and lunar access services and by collecting and transmitting cislunar data for science, technology and infrastructure. We are a provider and supplier of space products and services that we believe will enable sustained…

• We employ a “land-and-expand” go-to-market strategy with the goal to deliver increasing value and repetitive revenue with each customer over time by expanding the scope of the services we offer. We work closely with our customers and partners to enable their early success. We expect that deeper adop…

Text added vs the prior filing · source: 10-Q · 2026-05-15

• We are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our market risk exposure is primarily the result of fluctuations in interest rates, forei…

• We had cash and cash equivalents and restricted cash totaling approximately $243.4 million as of March 31, 2026. Our cash and cash equivalents consist of highly liquid interest bearing overnight sweep and demand deposit accounts, and are held for purposes of working capital and strategic business in…

• In August 2025, we issued $345.0 million aggregate principal amount of 2.500% Convertible Notes (as defined in Note 10 - Debt in the unaudited condensed consolidated financial statements contained elsewhere in this Quarterly Report) and the full amount was outstanding as of March 31, 2026. We carry …

• Our revenue and expenses are primarily denominated in U.S. dollars and we have not had material foreign currency risk nor recognized foreign exchange gains or losses to date. We believe our exposure to foreign currency fluctuation from operating expenses is immaterial as the related costs do not con…

• Inflationary factors, such as increases in the cost of our materials, supplies, and overhead costs may adversely affect our operating results. Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, we may experience some effect…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this item.

Text added vs the prior filing · source: 10-Q · 2026-05-15

• On January 13, 2026, we completed the Lanteris acquisition. Prior to the acquisition, Lanteris was a privately held company and was not subject to the rules and regulations of the SEC. We are currently in the process of integrating Lanteris into our operations and internal control environment.

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• how well designed and operated, can provide only reasonable, not absolute, assurance of achieving their desired control objectives.

Text added vs the prior filing · source: 10-Q · 2026-05-15

• During the three months ended March 31, 2026, no director or Section 16 officer of the Company adopted or terminated a

• “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• During the three months ended September 30, 2025, certain of our officers or directors listed below adopted or terminated trading arrangements for the purchase or sale of shares of our Class A Common Stock in amounts and prices determined in accordance with a formula set forth in each such plan:

• Timothy CrainChief Growth Officer and Senior Vice PresidentSeptember 16, 2025December 18, 2026

• the sale of up to 1,000,000 shares and contains pricing conditions that preclude or limit the sale of shares below predetermined minimum pricing