Intuitive Machines to acquire Lanteris Space Systems for $800M; Q3 revenue $52.4M

Intuitive Machines, Inc.

Acquisition of Lanteris (formerly Maxar Space Systems) for $800M ($450M cash + $350M stock at $12.34/share); expected close Q1 2026.
Combined entity pro forma: revenue >$850M, positive Adj. EBITDA, $920M backlog as of Sept 30, 2025.
Q3 2025 standalone: revenue $52.4M, net loss ($10.0)M, Adj. EBITDA ($13.2)M; cash $622M after $345M notes.
Q4 revenue expected in line with Q3 (~$52M) due to government shutdown uncertainty; 2026 combined outlook in early 2026.

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