The craziest day for $LUNR since inception, after dropping 20% at market open, then recovering 20% within 20 minutes and ending the day green at +3% 😂 Here’s a quick recap of $LUNR Q2 2026 earnings: • Cash & Equivalents: $367M • Revenue: $206M, +309% YoY • Net Income: $(63)M vs. $(38)M YoY • Adj. EBITDA: $(14)M vs. $(25)M YoY • FCF (6Mo): $(146)M vs. $(14)M YoY • Backlog: $1.8B, +727% YoY Crazy backlogs, yes +727% YoY!! $LUNR has generated $1.7B in bookings this year, including $1.2B in new bookings this past quarter through today. The backlog is literally half their market cap! Probably one of the most undervalued space stocks looking at peers. They are lower in cash than I expected, but the ATM offering is only ~50% of the way and seems to be at an average of $25. We can expect the other half of the dilution to happen as the stock recovers. This is one of the perks of an at-the-moment offering as it adds more flexibility. IM-3 mission is now delayed to Q1 2027 and will still deploy the first lunar relay satellite, but IM-4 is now slated to deploy all four remaining lunar relay satellites, so we can expect revenue from that much earlier than expected. This also implies more revenue from that $4.8B IDIQ contract and more revenue earlier after satellites are deployed. They are still guiding for $900M-$1B for full year 2026 along with positive EBITDA.
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6 Comments
Mike L@noviceadvisor · 19h
So you went into margin call territory and held on and went out of margin call in a span of hours? Legendary! 😆
Daddy Jay@daddy.jay · 19h
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