Intuitive Machines To Acquire Lanteris Space Systems In $800 Million Deal

• Intuitive Machines said that the transaction is expected to close in the first quarter of 2026 and noted that, as a stand-alone company, Lanteris is a cash-generating business.
• The company said that the transaction is priced at $800 million, consisting of $450 million in cash and $350 million in Intuitive Machines Class A common stock.
• Intuitive Machines CEO Steve Altemus said that the combined entity's revenue exceeds $850 million.

Intuitive Machines (LUNR) said on Tuesday it would buy Lanteris Space Systems, formerly known as Maxar Space Systems, from private equity firm Advent International.

The company said that the transaction is priced at $800 million, consisting of $450 million in cash and $350 million in Intuitive Machines Class A common stock.

Intuitive Machines said that the transaction is expected to close in the first quarter of 2026 and noted that, as a stand-alone company, Lanteris is a cash-generating business. As a combined company, Intuitive Machines expects to have adequate cash on hand for continued operations.

Executive Take On The Deal

Intuitive Machines CEO Steve Altemus said that the combined entity's revenue exceeds $850 million, with positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and $920 million in backlog as of September 30.

“This strategic acquisition positions Intuitive Machines as a next generation space prime directly in the flow of multi-billion-dollar space programs,” Altemus said.

“Our focus over the last two and half years has been to position Lanteris for sustainable growth by pivoting and investing behind national security priorities including helping enable next generation missile defense for America,” said Managing Partner of Advent, Shonnel Malani.

Intuitive Machines Q3 Results

The company said that the timing associated with its year-end revenue is impacted by uncertainty related to the government shutdown. Intuitive said that based on the current backlog, it expects fourth-quarter revenue to be in line with the third-quarter revenue.

Shares of Intuitive Machines fell nearly 10% in premarket trading. Retail sentiment on the stock remained unchanged in the ‘bearish’ territory, with message volumes at ‘low’ levels, according to data from Stocktwits.

Intuitive Machines’ third-quarter revenue came in at $52.4 million, compared with Wall Street expectations of $66.62 million, according to data compiled by Fiscal AI. Its quarterly net loss was $10.0 million with adjusted EBITDA of $13.2 million.

Shares of the company have declined over 36% this year but have jumped nearly 50% in the last 12 months. 

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