Intuitive Machines, Inc. (NASDAQ:LUNR) Q1 2024 Earnings Conference Call May 13, 2024 8:30 AM ET

Company Participants

Stephen Zhang - Head of Investor Relations
Steve Altemus - Chief Executive Officer
Steven Vontur - Interim Chief Financial Officer

Conference Call Participants

Suji DeSilva - Roth MKM
Josh Sullivan - The Benchmark Company
Andres Sheppard - Cantor Fitzgerald
Griffin Boss - B. Riley Securities
Austin Moeller - Canaccord Genuity
Edison Yu - Deutsche Bank

Operator

Welcome to Intuitive Machines First Quarter 2024 Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded.

Now I would like to hand the conference over to your host, Stephen Zhang, Head of Investor Relations. Please go ahead sir.

Stephen Zhang

Good morning. Welcome to the Intuitive Machines first quarter 2024 earnings call. Chief Executive Officer, Steve Altemus; and Interim Chief Financial Officer and Controller, Steven Vontur are leading the call today.

Before we begin, please note that some of the information discussed during today's call will consist of forward-looking statements, setting forth our current expectations with respect to the future of our business, the economy and other events. The company's actual results could differ materially from those indicated in any forward-looking statements due to many factors. These factors are described under forward-looking statements in the company's earnings release and the company's most recent 10-K and 10-Q filed with the SEC.

We do not undertake any obligation to update forward-looking statements. We also expect to discuss certain financial measures and information that are non-GAAP measures as defined in the applicable SEC rules and regulations. Reconciliations to the company's GAAP measures are included in the earnings release filed on Form 8-K.

Finally, we posted an earnings call presentation on our website, which provides additional context on our operational and financial performance. You can find this presentation on our Investor Relations page at www.intuitivemachine.com/investors.

I'll now turn the call over to Steve Altemus.

Steve Altemus

Thanks, Stephen. We had an excellent start to the year anchored by our successful IM-1 mission and a full quarter of OMS 3 operations. Revenue was $73.1 million in the quarter, an increase of over 300% versus quarter one of last year. This was yet another historic feat for the company and showcased our continued growth trajectory. The standout accomplishment in the first quarter was Intuitive Machines' first successful lunar mission which fundamentally disrupted the economics of landing on the moon and broke economic and technological barriers to enable this new burgeoning lunar economy.