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Intuitive Machines gains over $600M defense satellite contract
The award, authorized Aug. 17, expands its order backlog to about $1.8 billion and includes multi-satellite communications work across a 30-month window.
Intuitive Machines received authorization to proceed on a multi-satellite communications infrastructure program valued at over $600 million, with execution spanning 30 months. The company said the work will use its IM 1300 satellite platform to design, manufacture, integrate, and support multiple spacecraft, with customer details remaining confidential.
The contract helped lift Intuitive Machines shares by more than 8% in midday trading toward $20.70 on heavy volume. The deal also increases its order backlog, reported at close to $1.8 billion as of the second quarter of 2026, according to MarketBeat Ratings.
MarketBeat Ratings added that the agreement supports a longer-duration revenue profile through 2028. The story also notes that during the second quarter, national security projects made up about 30% of total revenue, up from roughly 3% in the prior-year period, while civil space accounted for about 38% and commercial about 32%.
The coverage further links the new defense work to Intuitive Machines acquisitions of Goonhilly Earth Station and COMSAT in August 2026, which it says will help create a unified space-to-ground communications network. MarketBeat Ratings also cited an expanded revenue outlook, alongside a Stifel upgrade, as shares reacted to the announcement.