XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Revenue $ 73,068,000 $ 18,236,000
Operating expenses:    
Cost of revenue (excluding depreciation) 60,911,000 23,126,000
Depreciation 414,000 296,000
General and administrative expense (excluding depreciation) 17,143,000 8,777,000
Total operating expenses 78,468,000 32,199,000
Operating loss (5,400,000) (13,963,000)
Other expense, net:    
Interest expense, net (20,000) (279,000)
Change in fair value of earn-out liabilities (22,597,000) (3,726,000)
Change in fair value of warrant liabilities (23,964,000) 0
Change in fair value of SAFE Agreements 0 (2,353,000)
Loss on issuance of securities (68,676,000) 0
Other income, net 1,000 89,000
Total other expense, net (115,256,000) (6,269,000)
Loss before income taxes (120,656,000) (20,232,000)
Income tax expense 0 (3,215,000)
Net loss (120,656,000) (23,447,000)
Net loss attributable to Intuitive Machines, LLC prior to the Business Combination 0 (5,751,000)
Net loss (post Business Combination) (120,656,000) (17,696,000)
Net loss attributable to redeemable noncontrolling interest (23,291,000) (8,336,000)
Net income attributable to noncontrolling interest 972,000 0
Net loss attributable to the Company (98,337,000) (9,360,000)
Less: Cumulative preferred dividends (471,000) (328,000)
Net income attributable to Class A common shareholders - basic (98,808,000) (9,688,000)
Net income attributable to Class A common shareholders - diluted $ (98,808,000) $ (9,688,000)
Net income per share:    
Net income per Class A common share - basic (in dollars per share) [1] $ (2.70) $ (0.64)
Net income per Class A common share - diluted (in dollars per share) [1] $ (2.70) $ (0.64)
Weighted-average common shares outstanding    
Weighted average shares outstanding - basic (in shares) 36,612,270 15,224,378
Weighted average shares outstanding - diluted (in shares) 36,612,270 15,224,378
[1] As a result of the Business Combination, the capital structure changed and the net loss per share information for 2023 represents results after the Closing Date of the Business Combination, for the period from February 13, 2023 through March 31, 2023. See Note 1 - Business Description and Note 11 - Net Loss per Share for additional information.