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Intuitive Machines improves cash position to best since IPO after historic moon mission

·1 min

Intuitive Machines reported its fourth-quarter results, stating that it now has sufficient capital for the near term. The company’s cash balance at the end of the year was $4.5 million, after paying down $12 million in debt. Following its moon landing, the company raised $10 million through equity and saw $50 million in warrant exercises. Intuitive Machines highlighted its cash balance of nearly $55 million on March 1 as the largest balance to date. The company’s net income for the quarter was $4.6 million, down 63%, and revenue was $30.6 million, a 20% drop. The company expects sales to expand based on its backlog and upcoming potential NASA contracts.