Intuitive Machines, Inc. (LUNR) is soaring higher in extended trading on Tuesday after the company secured a major contract from NASA. The deal, worth up to $4.82 billion, will see Intuitive Machines provide communication and navigation services in the near-space region, encompassing the area from Earth’s surface to beyond the Moon. This marks a significant step forward for the company and highlights its leadership in space technology.
The contract, a firm-fixed-price, multiple award, indefinite-delivery/indefinite-quantity (IDIQ) task order, spans a base period of five years with a potential five-year extension. The initial ordering period begins on October 1, 2024, and runs through September 30, 2029. If the option period is exercised, the contract could extend through September 30, 2034.
Intuitive Machines’ lunar satellite constellation will be a key element in fulfilling the contract. The company plans to deploy lunar relay satellites, ensuring reliable communication and navigation capabilities. This technology will be critical for NASA’s Artemis program, which aims to establish a long-term human presence on the Moon.
“This contract marks an inflection point in Intuitive Machines’ leadership in space communications and navigation,” said Intuitive Machines CEO Steve Altemus. “We’re pleased to partner with NASA, as one team, to support the Artemis campaign and endeavors to expand the lunar economy.”
The news of this contract sent LUNR stock soaring, up 37.04% after-hours to $7.40 at the time of publication. This significant investment from NASA speaks volumes about Intuitive Machines’ capabilities and its crucial role in the future of lunar exploration.
