Intuitive Machines to Acquire Lanteris Space Systems: A Bold Move in the Space Industry
Intuitive Machines, a leading space technology pioneer, is set to acquire Lanteris Space Systems, formerly Maxar Space Systems, in a groundbreaking deal. This acquisition is a game-changer, positioning Intuitive Machines as a prime player in the multi-billion-dollar space arena.
The Financials:
- The combined entity's revenue surpasses $850 million* with a positive Adjusted EBITDA* and a substantial $920 million* backlog as of September 30, 2025.
- The transaction is valued at $800 million, comprising $450 million in cash and $350 million in Intuitive Machines Class A common stock, subject to adjustments.
- Lanteris, as a standalone company, is cash-generative, and the combined entity is expected to maintain sufficient cash for ongoing operations.
Expanding Horizons:
This acquisition accelerates Intuitive Machines' growth, expanding its data services business from lunar and Earth-based operations into LEO, MEO, GEO, Moon, Mars, and deep space missions. It strengthens the company's position to lead future national security space programs, civil space endeavors, and commercial space initiatives.
Strategic Vision:
"Intuitive Machines is poised to redefine the space industry," said Steve Altemus, CEO of Intuitive Machines. "We're transitioning from a lunar-focused company to a multi-domain space leader, setting new standards for the industry's next generation." This acquisition is a pivotal step towards achieving this vision.
Lanteris' Expertise:
Lanteris Space Systems, a renowned satellite manufacturer, brings a wealth of experience with an exceptional track record in delivering highly reliable spacecraft for national security, civil, and commercial clients. Their rapid commercial agility and proven flight success make them an ideal partner for Intuitive Machines.
Q3 2025 Highlights:
- Recognized revenue of $52.4 million, driven by key programs like OMES, CLPS, and NSNS.
- Adjusted EBITDA of ($13.2) million for the third quarter.
- Backlog of $235.9 million at the end of the quarter.
- Issued $345 million in convertible notes, resulting in a Q3 ending cash balance of $622.0 million.
- Acquired KinetX to enhance deep space navigation capabilities.
- Secured AFRL contract extensions and commercial rideshare payloads.
- Received software development certification for Lunar Terrain Vehicle operations.
- Near-term potential awards for Lunar Terrain Vehicle delivery and the next CLPS mission.
Looking Ahead:
Despite government shutdown-related uncertainties affecting year-end revenue, Intuitive Machines remains confident in its ability to secure near-term awards. The company will provide an updated outlook for the combined entity in early 2026.
Investor Call:
Intuitive Machines invites investors to join a call on November 4, 2025, at 8:30 am ET to discuss this acquisition and Q3 results. Dial-in details are provided below.
About the Companies:
Intuitive Machines is a diversified space technology company, known for its successful lunar missions. Lanteris Space Systems, with its expertise in satellite manufacturing, is ready to meet the demands of the evolving space economy.
Advent's Role:
Advent, a global private equity investor, has played a significant role in positioning Lanteris for growth. With their extensive experience and global reach, Advent has contributed to the strategic alignment of these two space industry leaders.
Financial Measures:
The press release includes non-GAAP financial measures like Adjusted EBITDA, which is a key performance indicator for the company's operating performance. A reconciliation to the most comparable GAAP financial measure is provided.
Forward-Looking Statements:
This release contains forward-looking statements with associated risks and uncertainties. These statements reflect the company's current expectations but are subject to various factors that could cause actual results to differ materially. Investors are cautioned not to rely solely on these statements.
Investor and Media Contacts:
For further inquiries, please contact the designated representatives.
*Note: Amounts presented are for the last twelve months ended September 30, 2025, on a combined basis. Lanteris' revenue and Adjusted EBITDA margins are approximate and subject to change upon further adjustments.
And here's where it gets intriguing: How will this acquisition shape the future of space exploration and commercialization? Will it spark a new era of innovation and competition in the industry? Share your thoughts in the comments below!
