I am a psuedo-positive long!
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Intuitive Machines (IM) has the largest cash balance and order book in its history, and may triple its revenue in 2024.
IM is the only commercial operation with proven lunar capability, giving it a first-mover advantage in the growing lunar industry.
IM's success in its first lunar mission validates its technology and business model, positioning it as a key player in the space sector
I remember saying the cost was determined by weight of the payload
CEO Steve Altemus shedding some light on the upcoming missions:
(On IM-2, IM-3 and IMC-1) they're all completely sold and they're all here in the factory. The Drill is integrated onto a panel. The Hopper just has a vibration test to do yet. It's fully functional and assembled. The 4G LTE hardware is in the laboratory being tested with Nokia. So that's full. the third mission is being built also, and we have a lot of components for the lander itself being in the laboratories or the shops being handcrafted. That will go a few months after the second mission.And so that'll come together quickly. But again, that mission is sold out. we're cultivating payloads for our first completely commercial mission. And we have several of those payloads that are under contract that we will fly on IMC-1, which is commercial mission one. And I haven't set a date for that, because what we're doing is we're aggregating and manifesting a set of payloads before we say, okay, IMC-1 is full enough to put and cement on the manifest on a certain calendar day.
They were so happy with the results and with working with IM, that they just booked a payload for IM-2
Lonestar Data Holdings, known for its contributions to lunar edge processing and data storage, has unveiled its latest project: the “Freedom” Payload. This second in space-based data services is slated to be deployed aboard Intuitive Machines’ IM-2 Lander later this year.
NASA awards Intuitive Machines $30M Lunar Terrain Vehicle contract
NASA has awarded Intuitive Machines $30M as a prime contractor to complete a Lunar Terrain Vehicle Services Feasibility Assessment. The contract tasks the Company's global team with creating a feasibility roadmap to develop and deploy a Lunar Terrain Vehicle on the Moon using Intuitive Machines' Nova-D cargo-class lunar lander. The first phase award marks the Company's entrance into human spaceflight operations within NASA's $4.6B LTV Services project. "This procurement strategically aligns with the Company's flight-proven capability to deliver payloads to the surface of the Moon under the agency's Commercial Lunar Payload Services initiative, further solidifying our position as a proven commercial contractor in lunar exploration," said Intuitive Machines CEO Steve Altemus. "Our global team is on a path to provide essential lunar infrastructure services to NASA...."
I'll be watching!
Highlights from the 2023 4th Quarter conference call:
Revenue: Q4 revenue of $30.6 million and full-year revenue of $79.5 million, primarily driven by NASA CLPS contracts and OMES III.
Operating Loss: Q4 operating loss of $(5.9) million and full-year operating loss of $(56.2) million, reflecting increased costs and investments.
Backlog: Year-end contracted backlog nearly doubled to $268.6 million, signaling strong future revenue potential.
Cash Balance: Cash balance of $54.6 million as of March 1, 2024, bolstered by warrant exercises from an institutional investor.
Gross Margin: Achieved positive gross margin in December due to OMES III revenue and cost discipline.
Adjusted EBITDA: Negative Adjusted EBITDA of $(49.6) million for the full year, reflecting operational investments and growth initiatives.
Free Cash Flow: Negative free cash flow of $(75.2) million for the full year, due to operating cash use and property and equipment purchases.
Update on the announcement of the LTVS contract (Lunar rover):
NASA will host a news conference to announce the company, or companies, selected to move forward in developing the LTV (Lunar Terrain Vehicle), which will help Artemis astronauts explore more of the Moon’s surface on future missions. The televised event will take place at 4 p.m. EDT (3 p.m. CDT), Wednesday, April 3, at the agency’s Johnson Space Center in Houston.
The news conference will air live on NASA+, NASA Television, the NASA app, and the agency’s website. Learn how to stream NASA TV through a variety of platforms including social media.
From the Financial Times March 14, 2024
Steve Altemus says NOVA-D lander could charge $$550 million per landing
LUNR CEO Steve Altemus on yesterday's podcast:
"And then we have two more missions to go. Probably later this and then one early next year. We’ve designed and offered to the government their next human moon buggy, the lunar terrain vehicle, and we would deliver that to the surface. It’s about the size of an F-150 pickup truck and sell that as a service the government and sell it to commercial interest also. And so providing that space infrastructure as a service is kind of, we’re on our way landing softly, communicating, navigating and bringing equipment, cargo and mobility to the surface."
AND:
"So, I think it’s a really special time in history and I love to be a pioneer and breaking this new frontier for the United States."
I can wait two weeks. If we go a little lower I'll be adding more
From IM's website Feb 26, 2024
Flight controllers intend to collect data
until the lander’s solar panels are no
longer exposed to light. Based on Earth
and Moon positioning, we believe flight
controllers will continue to communicate
with Odysseus until Tuesday morning.
I believe this is why the stock is down so much. The original time frame for the mission was 9-10 days. IM just reported that they will lose contact with the lander on Tuesday. That is only five days of mission time. Basically, cut in half. My guess is that the Lander on its side has caused a solar panel directional problem. If upright, we would have had a better angle to the sun and thus longer solar battery charging. All will be fine if they are able to complete all the tasks they are being paid for in the smaller window.
From this morning's SEC filing. The float is 29.2 mil shares
Tweet from IM: "We have a new home!"
“Odysseus has a new home” https://t.co/oVgLobxH8T
— Intuitive Machines (@Int_Machines) February 22, 2024
ODYSEUS HAS A NEW HOME!!!!
Planned Trajectory Correction Maneuvers Complete Ahead of Lunar Orbit Insertion
Intuitive Machines flight controllers commanded the IM-1 mission’s second planned Trajectory Correction Maneuver (TCM) with enough precision to eliminate the need for the initially planned third TCM engine firing. Today’s TCM fired at 1400 CST for 8 seconds, and it is the final maneuver before Odysseus’ largest challenge to date, Lunar Orbit Insertion (LOI), scheduled for February 21, 2024.
From their twitter account 6:00pm ET Feb 20, 2024
Intuitive Machines flight controllers commanded the IM-1 mission’s second planned Trajectory Correction Maneuver (TCM) with enough precision to eliminate the need for the initially planned third TCM engine firing
Here is the video released today by IM. It details the progress up to date.
From IM's twitter account:
The IM-1 mission to land on the Moon has triumphed over numerous challenges, showcasing exceptional resilience, innovation, and teamwork.
Intuitive Machines expects to land on the Moon at 1649 CST on Thursday, February 22nd.
I'm getting alot of DM's from people wanting my opinion. I took the day off from the board. I jumped in and out and see there are a few more knuckleheads on board. I've muted them. First, the mission: I am totally impressed with the technical skill the men and women at IM possess. I love the patience of these folks, and I love the transparency they provide. They are literally tweaking this lander on the fly. Monitoring and adjusting as they see fit. This isnt just a fly the lander to the moon and hope we stick the landing. In a weird way, I have more confidence in a successful landing then I did at launch. With the technology they possess, i can see them placing NOVA-C on the surface of the moon. Maybe thats my shares talking, idk, but I feel more confident. Next, we need to talk about an unsuccessful landing. Even if the landing is unsuccessful, the things that IM has accomplished at this point makes the mission a success. Yes, the share price will drop and the haters will be out in spades, but I feel and I believe IM and NASA will still view this as a success. They have shown the ability to successfully perform a stage 2 separation. They have proven to show that they have been able to keep communication with the lander. They have proven that they are able to fire up the main engine, The first space methane engine in history. today's update tells us that they have accomplished trajectory correction maneuver number one.
All accomplishments! In my opinion, failure, will be because of an unforeseen mechanical failure. A broken line, a stuck landing arm, something malfunctioning. I feel if everything is in working order, they will stick the landing. These guys are good. Finally: I expect the share price tomorrow to reach $10.00. That’s a 30% increase. There will be times the MM will need shares and he will short it down. You can see this by noticing a step down pattern in the share price ending with a long tail drop. From there, the price corrects and heads back up because the MM is now selling shares (allowing buyers) that he just grabbed lower. I dont think we have a short squeeze play. Not enough short interest. I see warrants in the $2.50-$3.00 range. Keep an eye on them. They tell you how good the chances are of a SP over $11.50. At $3.00, they are trading at a premium (to a $10.00 stock price) the chances are real good. Like I said before, I believe the warrants will be locked out tomorrow and a premium will have to be paid. The SP will drift higher Wednesday and Thursday into the landing. I expect the landing will be delayed, which is good for us folks on the east coast as we can get home from work and watch it with a cocktail!
I have no plans of selling any of my many shares and warrants if a landing is not successful. If successful, I will keep an eye on the price Monday, (maybe an announcement or a friendly tweet?). And take some profit if things go crazy. I dont think I will sell any of my $.24 warrants (42K) any time soon. They look too good in my portfolio (haha). But I have a bunch more that I would consider flipping. Closing, This is a long term hold for me. I believe you get a few chances at a stock like this. I owned Amazon at $20 and sold for a few thousand in profit. Sorry if this was long, but I hope it helps. Good luck to all you fellow LUNRatics
Update From IM Feb 19th, 2024:
Flight controllers received and analyzed data from the February 16th engine Commissioning
Maneuver (CM). Data from the 21-second full-thrust mainstage engine CM confirmed Odysseus
hit its 21 m/s target with approximately 0.8 m/s accuracy. The GIF below was created from
images taken while the lander maneuvered to CM burn attitude. Propulsion mixture ratios,
mass flow rate, and temperature were as predicted. Overall, Intuitive Machines characterizes
the execution of the CM as nominal and per expectations,
On February 18th, flight controllers commanded the lander’s first planned trajectory correction
maneuver, igniting the lander’s engine for the second time, and are planning the anticipated
final required maneuver before Odysseus’ largest challenge to date, lunar orbit insertion,
which is expected on Wednesday, February 21st.
In addition, flight controllers completed all NASA and commercial transit payload operations
this morning.
Odysseus continues to be in excellent health, and flight controllers are analyzing and managing
the lander’s thermal conditioning for critical systems and payloads with a combination of
heater power and attitude control to maximize efficiency.
We expect to continue to provide mission updates at least once a day on X and the IM-1 Mission
web page, where we intend to host a live stream for landing coverage.
YouTube short video of Stage 2 separation
https://stkt.co/iS0uAINd
Link to IM's control center as they successfully fire up the main engines.
Way to go guys! And looking forward to the touch down
https://stkt.co/ZImvhjda
Another update, and this one is big (Feb 16, 2024 10;07pm ET)
Intuitive Machines flight controllers successfully fired the first liquid methane and liquid oxygen engine in space, completing the IM-1 mission engine commissioning. This engine firing included a full thrust mainstage engine burn and throttle down-profile necessary to land on the Moon.
Insiders and hedge funds own much of the float
Sounds interesting, but i can't find the pole...Help please
Press Release Feb 15,2024
IM-1 mission Nova-C class lunar lander has launched on SpaceX’s Falcon 9 rocket and successfully commissioned in space by establishing a stable attitude, solar charging, and radio communications contact with the Company’s mission operations center in Houston.
You can track the lunar lander here:
Elon Musk just re-tweeted the mission:
Lunar lander deployed:
Lunar lander deployed https://t.co/tWJP6eu5Eq
— Elon Musk (@elonmusk) February 15, 2024
Second stage separation tweeted by Space X....I'm so proud of these guys and feel lucky to have witnessed that
Deployment of @Int_Machines IM-1 confirmed pic.twitter.com/daPrWFkVng
— SpaceX (@SpaceX) February 15, 2024
Launch delayed one day:
SpaceX, the private rocket and satellite company founded by billionaire Elon Musk, said on the social media platform X that the launch team was "standing down from tonight's attempt" because of irregular methane temperatures before loading.
The precise function of the methane and its implications for the proper function of the Falcon 9 rocket were not immediately explained. The rocket's Merlin engines run on kerosene and liquid oxygen.
The decision to scrub the Intuitive Machines flight, which had been set for liftoff at 12:57 a.m. EST on Wednesday from NASA's Kennedy Space Center at Cape Canaveral, Florida, came about 75 minutes before launch time.
SpaceX said it would aim for the next launch opportunity for the uncrewed mission, which is slated for 1:05 a.m. EST on Thursday.
Intuitive Machines' Nova-C lander, dubbed Odysseus, remains poised atop the Falcon 9 rocket for a mission aimed at conducting the first U.S. lunar touchdown since the last Apollo moon mission a half century ago, and the first by a privately owned vehicle.
Thoughts on a down day just hours ahead of the lunar launch....
First, the market got slammed on the CPI number today showing higher inflation than expected. The Russell , small caps, got hit even harder.
Second, during the briefing today, they were asked twice what the dollar amount was for the non NASA payloads. They told us that they were carrying six payloads for NASA with a $118mil cost. They also mentioned that there are six other non NASA payloads but both times did not share the payments that they are to receive from these payload deliveries. Wall Street prices stocks on revenue. We are getting half of $719mil over the next five years from the latest NASA contract. They are getting $118mil for successfully delivering payload on IM-1, but we dont know what they are getting for the other six non NASA payloads.
Why did they swerve this question? My guess is that the dollar amount of these payloads is not significant thus the avoidance and the subsequent slide in share price.
I'll definitely be watching the launch tonight. I'm not so concerned with the launch, Space X has a 98% success rate. Its the landing. In my mind, I had it at 50/50. Yesterday, CEO Steve Altemus stated that a successful lunar landing is about 80%. Alot better than my prediction! I think he would know better than me, so I'll go with his odds!
CEO Steve Altemus told CNN today that:
" Intuitive Machines has about an 80% chance of safely landing Odysseus on the moon."
Coverage for the first Intuitive Machines/Space X moon mission
https://www.nasa.gov/news-release/nasa-sets-coverage-for-spacex-intuitive-machines-first-moon-mission/?utm_source=TWITTER&utm_medium=NASA&utm_campaign=NASASocial&linkId=314252336
If you read my post, you clearly would have noticed that I admitted to not being an expert on these SEC filings. I stated "If anyone has a different opinion or can clarify this filing more for me, please comment". Ok, so I have your opinion, thank you. Not sure why you called me reckless. My shares were up 40% last week and my warrants almost doubled. But to each their own. I'm here for the long run. If successful, there is a huge upside potential. I believe. I know the risks and am willing to take them. Not sure why that is reckless. Anyhow, have a great day and good luck to you in your investing
From Space Flight Now Twitter
Julianna Scheiman, director, Civil Satellite Missions, SpaceX, confirms that the IM-1 mission for Intuitive Machines is targeting liftoff on Feb. 14.
There will be a wet dress rehearsal on Feb. 7, which will include a fueling of the Nova-C lander.