Houston, TX - Intuitive Machines (LUNR.O) announced on Tuesday that it has secured a lucrative contract from NASA worth up to $4.82 billion for navigation and communication services supporting missions in the near space region.
Credit: Intuitive Machines
The contract, which has a base period of five years with an additional five-year option period, tasks Intuitive Machines with deploying lunar relay satellites to aid NASA's Artemis campaign. The company will provide critical communication and navigation services, enabling enhanced data transmission and autonomous operations.
The news sent Intuitive Machines' shares soaring 52% to $8.21 in aftermarket trading, more than doubling their value so far this year.
"We see the win today as significant validation towards Intuitive's outlook and its ability to continue to win additional contracts," said Andres Sheppard, senior analyst at Cantor Fitzgerald.
The contract supports NASA's ambitious Artemis program, aiming to send commercial robot landers to the moon on science scouting missions and return astronauts to Earth's natural satellite this decade.
Intuitive Machines previously received $118 million from NASA to build and fly Odysseus, which became the first U.S. spacecraft to land on the moon in half a century in February. Although the spacecraft experienced technical issues, it marked a significant milestone as the first lunar landing by a commercially manufactured and operated space vehicle.
NASA's strategy involves partnering with private companies for low-budget, high-reward missions to the moon, allowing for financial flexibility and innovation.
"Today's contract award demonstrates NASA's commitment to collaborating with industry leaders to achieve our Artemis goals," said a NASA spokesperson.
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