Intuitive Machines, Inc. (NASDAQ:LUNR) Q3 2024 Earnings Conference Call November 14, 2024 8:30 AM ET

Company Participants

Stephen Zhang - Head, Investor Relations
Steve Altemus - Chief Executive Officer
Pete McGrath - Chief Financial Officer

Conference Call Participants

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

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Intuitive Machines' Third 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] Please be advised that today's conference is being recorded.

I would now like to turn the conference over to Stephen Zhang, Head of Investor Relations. Please go ahead.

Stephen Zhang

Good morning. Welcome to the Intuitive Machines' third quarter 2024 earnings call. Chief Executive Officer, Steve Altemus and Chief Financial Officer, Pete McGrath 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 press 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 to our website, which provides additional context on our operational and financial performance. You can find this presentation on our Investor Relations' page at www.intuitivemachines.com/investors.

Now, I'll turn the call over to Steve Altemus.

Steve Altemus

Thanks Steven and welcome to everyone joining us this morning. Intuitive Machines had a very strong third quarter highlighted by key awards, revenue growth and we closed the quarter with record highs in both cash and backlog, validating our upward trajectory. Q3 revenue was $58.5 million, over four times our Q3 sales last year. Our cash balance at the end of Q3 reached $89.6 million. This strong cash position combined with zero debt provides ample liquidity as we continue our blueprint to commercialize the moon.