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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue $ 58,478,000 $ 12,731,000 $ 173,338,000 $ 48,960,000
Operating expenses:        
Depreciation 482,000 329,000 1,319,000 944,000
Impairment of property and equipment (see Note 4) 5,044,000 0 5,044,000 0
General and administrative expense (excluding depreciation) 12,319,000 9,913,000 39,726,000 27,956,000
Total operating expenses 72,202,000 36,735,000 217,337,000 102,588,000
Operating loss (13,724,000) (24,004,000) (43,999,000) (53,628,000)
Other income (expense), net:        
Interest income (expense), net 31,000 (228,000) 31,000 (781,000)
Change in fair value of earn-out liabilities (33,328,000) 36,036,000 (33,816,000) 61,066,000
Change in fair value of warrant liabilities (33,686,000) 10,259,000 (36,641,000) 10,259,000
Change in fair value of SAFE Agreements 0 0 0 (2,353,000)
Loss on issuance of securities 0 (6,729,000) (68,080,000) (6,729,000)
Other income (expense), net 346,000 (418,000) 768,000 (379,000)
Total other income (expense), net (66,637,000) 38,920,000 (137,738,000) 61,083,000
Income (loss) before income taxes (80,361,000) 14,916,000 (181,737,000) 7,455,000
Income tax expense (50,000) (605,000) (50,000) (292,000)
Net income (loss) (80,411,000) 14,311,000 (181,787,000) 7,163,000
Net loss attributable to Intuitive Machines, LLC prior to the Business Combination 0 0 0 (6,481,000)
Net income (loss) (post Business Combination) (80,411,000) 14,311,000 (181,787,000) 13,644,000
Net loss attributable to redeemable noncontrolling interest (25,679,000) (18,992,000) (50,001,000) (39,691,000)
Net income attributable to noncontrolling interest 668,000 0 2,429,000 0
Net income (loss) attributable to the Company (55,400,000) 33,303,000 (134,215,000) 53,335,000
Less: Preferred dividends (143,000) (674,000) (751,000) (1,657,000)
Net income (loss) attributable to Class A common shareholders - basic (55,543,000) 32,629,000 (134,966,000) 51,678,000
Net income (loss) attributable to Class A common shareholders - diluted $ (55,543,000) $ 32,629,000 $ (134,966,000) $ 51,678,000
Net income (loss) per share        
Net income (loss) per share of Class A common stock - basic (in dollars per share) [1] $ (0.83) $ 1.87 $ (2.55) $ 3.17
Net income (loss) per share of Class A common stock - diluted (in dollars per share) [1] $ (0.83) $ 1.27 $ (2.55) $ 2.14
Weighted-average common shares outstanding        
Weighted average shares outstanding - basic (in shares) 67,072,014 17,411,217 52,971,882 16,294,029
Weighted average shares outstanding - diluted (in shares) 67,072,014 26,126,245 52,971,882 24,964,408
Nonrelated Party        
Operating expenses:        
Cost of revenue (excluding depreciation) $ 45,873,000 $ 26,493,000 $ 144,141,000 $ 73,688,000
Affiliated Entity        
Operating expenses:        
Cost of revenue (excluding depreciation) $ 8,484,000 $ 0 $ 27,107,000 $ 0
[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 September 30, 2023. See Note 1 - Business Description and Note 11 - Net Income (Loss) per Share for additional information.