Intuitive Machines (LUNR) Operating Expenses (2021 - 2026)
Intuitive Machines (LUNR) reported Operating Expenses of $225.9 million for Q1 2026, up 211.2% year-over-year from $72.6 million in Q1 2025, and up 190.1% on a QoQ basis from $77.9 million in Q4 2025.
Intuitive Machines (LUNR) has 6 years of Operating Expenses data on file, last reported at $225.9 million in Q1 2026.
- Quarterly Operating Expenses rose 211.2% year-over-year to $225.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $450.6 million (up 59.79% YoY) and the FY2025 annual result came in at $297.3 million, up 4.17% from the prior year.
- Operating Expenses rose to $225.9 million in Q1 2026 per LUNR's latest filing, from $77.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $225.9 million in Q1 2026 and bottomed at $21.4 million in Q2 2022.
- The 5-year median for Operating Expenses is $67.9 million (2025), against an average of $61.4 million.
- The widest annual swing landed in 2022, when Operating Expenses surged 142453.06%; it then fell 6.02% in 2025.
- Tracing LUNR's Operating Expenses over 5 years: stood at $27.4 million in 2022, then jumped by 39.21% to $38.1 million in 2023, then surged by 78.72% to $68.1 million in 2024, then rose by 14.43% to $77.9 million in 2025, then soared by 190.1% to $225.9 million in 2026.
- Per Business Quant, the three latest LUNR Operating Expenses figures stand at $225.9 million (Q1 2026), $77.9 million (Q4 2025), and $67.9 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | General Electric | 316.77 Bn | 306.03 Bn | 9.11 Bn | 10.18 Bn |
| 2 | Rtx | 238.61 Bn | 233.51 Bn | 9.08 Bn | 19.59 Bn |
| 3 | Boeing | 172.59 Bn | 151.68 Bn | 2.55 Bn | 2.10 Bn |
| 4 | Lockheed Martin | 122.59 Bn | 120.70 Bn | 2.08 Bn | - |
| 5 | Howmet Aerospace | 102.88 Bn | 100.44 Bn | 854.00 Mn | 120.00 Mn |
| 6 | General Dynamics | 92.64 Bn | 88.99 Bn | 9.09 Bn | 12.06 Bn |
| 7 | Rocket Lab | 82.19 Bn | 80.92 Bn | 76.49 Mn | 132.46 Mn |
| 8 | Northrop Grumman | 78.95 Bn | 76.86 Bn | 3.45 Bn | 8.89 Bn |
| 9 | TransDigm | 70.63 Bn | 66.75 Bn | 1.51 Bn | 273.00 Mn |
| 10 | Intuitive Machines | 5.66 Bn | 5.42 Bn | 183.13 Mn | 225.93 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 225.93 Mn |
| Dec 31, 2025 | 77.88 Mn |
| Sep 30, 2025 | 67.86 Mn |
| Jun 30, 2025 | 78.95 Mn |
| Mar 31, 2025 | 72.60 Mn |
| Dec 31, 2024 | 68.06 Mn |
| Sep 30, 2024 | 72.20 Mn |
| Jun 30, 2024 | 69.14 Mn |
| Mar 31, 2024 | 75.99 Mn |
| Dec 31, 2023 | 38.08 Mn |
| Sep 30, 2023 | 36.74 Mn |
| Jun 30, 2023 | 32.16 Mn |
| Mar 31, 2023 | 33.69 Mn |
| Dec 31, 2022 | 27.36 Mn |
| Sep 30, 2022 | 22.07 Mn |
| Jun 30, 2022 | 21.44 Mn |
| Mar 31, 2022 | 22.97 Mn |
| Dec 31, 2021 | 449,716.00 |
| Sep 30, 2021 | 21,737.00 |
| Mar 31, 2021 | 16,114.00 |