Intuitive Machines, Inc. ( LUNR ) shares traded lower premarket on Tuesday. The company disclosed a deal to acquire Lanteris Space Systems (formerly Maxar Space Systems) from Advent International LLC for $800 million.

Details

The transaction amount comprises $450 million in cash and $350 million in Intuitive Machines Class A common shares, subject to adjustment.

The deal is expected to close in the first quarter of 2026, pending standard regulatory approvals and closing conditions.

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The acquisition makes Intuitive Machines ( LUNR ) a fully integrated space prime, capable of missions from Earth orbit to the Moon and Mars.

“This marks the moment Intuitive Machines ( LUNR ) transitions from a lunar company to a multi-domain space prime, setting the pace for how the industry’s next generation will operate,” said Intuitive Machines ( LUNR ) CEO Steve Altemus.

Combined Entity

Altemus added that the combined entity generates over $850 million in revenue, with positive adjusted EBITDA and a $920 million backlog as of September 30, 2025.

Lanteris is a cash-generating business, and the combined entity is projected to maintain sufficient cash for ongoing operations.

Intuitive Machines ( LUNR ) Q3 Snapshot

The company reported $52.4 million in recognized revenue, supported by key programs like OMES, CLPS, and NSNS.

The company reported a net loss of $10.0 million, adjusted EBITDA of ($13.2) million, and backlog of $235.9 million in the quarter.

The company says that year-end revenue timing is affected by potential government shutdowns.

Based on the current backlog, the company expects fourth-quarter revenue to match third-quarter figures, and it remains confident in securing near-term awards.

“The new Intuitive Machines ( LUNR ) will combine rapid innovation and precision spacecraft production to meet the growing demand for responsive, high-reliability space infrastructure and services,” Altemus added.

Price Action: LUNR shares are down 2.85% at $11.25 premarket at the last check on Tuesday.

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