LUNRIntuitive Machines, Inc.
Search, Detection, Navigation, Guidance, Aeronautical Sys
- Revenue
- $207M
- 9.2% YoY
- Operating margin
- -42.1%
- 67% YoY
- EBITDA
- −$84M
- 51% YoY
- Market cap
- $898M
- Employees
- 525
- $395K revenue each
- Net debt / EBITDA
- —
- −$31M net debt
- AI in 10-K
- 1.6
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-145% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo20% of assetsOver 40% of assets
- Shareholder dissentNo90% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$395K · 53rd pctBottom quartile of its SIC industry
- Quiet on AINo1.6 per 10K words · 48th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$898M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$262M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $86M | $80M | $228M | $207M | 9.2% |
| Operating income | −$7M | −$61M | −$57M | −$87M | 52% |
| Net income | −$190K | $62M | −$283M | −$83M | 71% |
| Operating cash flow | $784K | −$45M | −$58M | −$14M | 75% |
| Capex | $16M | $30M | $10M | $42M | 312% |
| Stock-based comp | $624K | $4M | $9M | $9M | 2.1% |
| Buybacks | — | — | $0 | $21M | |
| Dividends | $0 | $8M | $0 | — |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jul 7, 2026 | Ghaffarian Kamal Seyed | SCHEDULE 13D/A | 19.7% | Passive |
| Jul 1, 2026 | Ghaffarian Kamal Seyed | SCHEDULE 13D/A | 19.7% | Passive |
| Dec 8, 2025 | Ghaffarian Kamal Seyed | SCHEDULE 13D/A | 25.6% | Passive |
| Jun 13, 2025 | Ghaffarian Kamal Seyed | SCHEDULE 13D/A | 26.0% | Passive |
| Apr 2, 2025 | Ghaffarian Kamal Seyed | SCHEDULE 13D/A | 26.3% | Passive |
| Dec 20, 2024 | Ghaffarian Kamal Seyed | SCHEDULE 13D/A | 82.8% | Passive |
| Nov 20, 2024 | Ghaffarian Kamal Seyed | SC 13D/A | 35.8% | Passive |
| Nov 6, 2024 | Ghaffarian Kamal Seyed | SC 13D/A | 84.2% | Passive |
| Sep 25, 2024 | Ghaffarian Kamal Seyed | SC 13D/A | — | Passive |
| Sep 23, 2024 | BLITZER MICHAEL | SC 13D/A | 4.0% | Passive |
Insider trading
- Open-market buys, 12 mo
- $2M · 2
- Open-market sells, 12 mo
- $264M · 74
- Net
- −$262M
Pay vs performance
No pay-versus-performance disclosure yet.