Quote from: Phil Stooke on 05/10/2022 04:05 pmNews from the current Lunar Surface Science Workshop just a few minutes ago: Lunar Flashlight, bumped from Artemis-1 as not ready in time, is now manifested as a secondary payload on IM-1 in the 4th quarter of this year. Stated by Barbara Cohen, who should know.Amusingly. Lunar Flashlight might get to the Moon before Artemis I fly.It helps using a reputable flight proven launcher.
News from the current Lunar Surface Science Workshop just a few minutes ago: Lunar Flashlight, bumped from Artemis-1 as not ready in time, is now manifested as a secondary payload on IM-1 in the 4th quarter of this year. Stated by Barbara Cohen, who should know.
On our second mission, we'll land and deploy a small rocket-fueled drone, which will use its thrusters to hop across the lunar surface - then, for the 1st time ever, descend into pitch black craters. What will we see? 👀gifs only
Commercial Lunar Network Completed Ahead of IM-1 Moon MissionTeams from Intuitive Machines and five space antenna ground stations validated the complete lunar communications solution required for Intuitive Machines’ first mission to the Moon, IM-1.Under an agreement with NASA and as part of a Live Sky exercise of Intuitive Machines Lunar Telemetry and Tracking Network (LTN), Intuitive Machines personnel utilized each of the IM-1 required deep space antennas to acquireand track NASA’s Lunar Reconnaissance Orbiter (LRO) from Intuitive Machines’ Nova Control in Houston, Texas.“Completing these exercises with a spacecraft currently orbiting the Moon proves that our network is prepared for our first mission,” said Brian Mader, Intuitive Machines Mission Operations Engineer. “It’s incredible; the Intuitive Machines and ground station teams are laying the critical infrastructure to support a growing lunar economy.”Contact: Josh Marshall[email protected]
https://twitter.com/Int_Machines/status/1533863539336781825QuoteOn our second mission, we'll land and deploy a small rocket-fueled drone, which will use its thrusters to hop across the lunar surface - then, for the 1st time ever, descend into pitch black craters. What will we see? gifs only
On our second mission, we'll land and deploy a small rocket-fueled drone, which will use its thrusters to hop across the lunar surface - then, for the 1st time ever, descend into pitch black craters. What will we see? gifs only
Intuitive Machines, a premiere space exploration company, plans to go public through a business combination with Inflection Point Acquisition Company $IPAX to accelerate growth in the lunar economy. Read the full press release here for additional details:https://www.intuitivemachines.com/investors
🚀+🔥=🍾Christening the "Flame Range" *Not Pictured* -Rocket Engine Petting Zoo (coming soon)
Inflection Point Acquisition Corp., the SPAC merging with lunar lander developer Intuitive Machines, has set Feb. 8 for a shareholder vote on the merger, according to a prospectus filed with the SEC. https://sec.gov/Archives/edgar/data/1844452/000121390023004867/f424b30123_inflectionpoint.htm
The announcement did not disclose a specific landing site, but company spokesperson Josh Marshall told SpaceNews that the new landing site is at Malapert A, a crater near the south pole previously identified as a potential landing site for lunar expeditions. He confirmed that NASA requested the change in the landing site.[...]Marshall said that NASA is increasing the value of the CLPS task order to accommodate the change, but deferred questions about the revised dollar value to NASA.[...]The company announcement also stated that the landing is now planned for late June.
Intuitive Machines (@Nasdaq: LUNR) is ringing the opening bell in New York. Our live stream:
Commercial lunar lander company Intuitive Machines has completed its merger with a special purpose acquisition company (SPAC), raising far less money than originally anticipated.<snip>The companies announced the merger in September 2022, long after the mania surrounding SPACs has cooled both in the space industry and the overall market. Inflection Point had $301 million of cash in trust, and the companies said they had arranged an additional $55 million in investment from the SPAC’s sponsors and a founder of Intuitive Machines, along with $50 million CF Principal Investments LLC, an affiliate of Cantor Fitzgerald & Company. In an investor presentation linked to the merger announcement, the companies anticipated having more than $330 million in cash after transaction expenses.However, in the Feb. 13 announcement that the merger had closed, the companies announced only $55 million of “committed capital from an affiliate of its sponsor and company founders.” The companies did not mention any proceeds of the SPAC itself, which could have been depleted by redemptions, where SPAC shareholders request their money back rather than hold stock in the merged company.
NASA Selects Intuitive Machines Team to Develop Survive the Lunar Night Technology:https://www.intuitivemachines.com/post/nasa-selects-intuitive-machines-team-to-develop-survive-the-lunar-night-technologyhttps://twitter.com/Int_Machines/status/1683939550878633984
Buying down exploration technology risk isn't simple, but serves as a key element to continuously moving forward. For our part, we have chosen a liquid Oxygen/Methane propulsion system; it could be the first use of cryogenic propellants for a planetary lander.
What are you guys using for on-surface lighting? Halogen? LEDs?
We intend to use sun and a small series of LED lights near the camera system.
Intuitive Machines Reports Second Quarter 2023 Financial Results and Announces Expected Launch of First Lunar MissionAugust 14, 2023 at 4:02 PM EDTReceived launch manifest date for first lunar mission, November 15th to 20th.Completed lunar lander full assembly with expected readiness for shipment to Cape Canaveral, Florida, by September 15th.Submitted more than $3 billion in proposals since the first quarter, including diverse product lines across the Department of Defense, Department of Energy, and NASA.Started internal transition execution for NASA’s five-year $719 million Omnibus Multi-Engineering Services (“OMES”) III contract award to deliver on-orbit services to the Joint Polar Satellite System.Validated the Company’s Nuclear in-space venture with NASA Space Technology and Mission Directorate (“STMD”) Tipping Point initiative award in July for the development of a Radioisotope Power System (“RPS”) that may enable assets to survive and operate during the lunar night.HOUSTON, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, “Intuitive Machines,” or the “Company”), a leading space exploration, infrastructure, and services company, today announced its financial results for the second quarter ended June 30, 2023.Intuitive Machines CEO Steve Altemus said, “During the second quarter, we were laser-focused on the final assembly process in preparing IM-1 for launch. Our lunar lander is complete and will be prepared for delivery in September. The Company has secured a launch window from pad 39A, preserving a six-day launch window starting on November 15th.”Mr. Altemus continued, “Progress continues throughout the Company; we’re building the primary IM-2 structure, integrating payloads and mechanisms to the second lander; while the Company transitions into its new Lunar Production and Operations Center at the Houston Spaceport. The City of Houston and the Houston Airport System helped finance the Company’s $40 million facility, designed to support NASA’s $93 billion Artemis program and growing commercial demand for space products and infrastructure, orbital services, lunar access services, and lunar data services.”Operational HighlightsCompleted main engine vibration and main propulsion system acceptance testing to certify Nova-C’s, IM-1 lunar mission spacecraft flight-ready status.Completed a comprehensive spacecraft test, including an engine test firing on IM-1.Integrated NASA’s TRIDENT lunar ice drill to the IM-2 lunar lander.Completed payload deployment mechanisms for IM-2 with the anticipated completion of our rocket-fueled drone, Micro Nova, in September.Expected grand opening of the Company’s Lunar Production and Operations Center at the Houston Spaceport is planned for September 29, 2023.Submitted proposal for NASA’s Near Space Network Services (NSNS) to provide Lunar distance communications to and from earth as well as data relay services around the Moon.Submitted proposal for NASA’s Lunar Terrain Vehicle Services (“LTVS”) bid as the Moon Reusable Autonomous Crewed Exploration Rover (“RACER”) Team to develop NASA’s next-generation Lunar Terrain Vehicle for exploration and development of the south pole region of the Moon.Second Quarter 2023 Financial and Business HighlightsContracted backlog of $137.3 million at quarter-end.Second quarter 2023 revenue of $18.0 million, driven primarily by three NASA Commercial Lunar Payload Services (CLPS) initiative contracts within the Company’s lunar access services, compared to $19.2 million in the prior year end.Second quarter 2023 operating loss of $(13.2) million versus $(2.2) million in the prior year period.Ending cash balance of $39.1 million as of the end of the second quarter.Appointed Nicole Seligman to the Intuitive Machines Board of Directors. Ms. Seligman’s distinguished career has included senior leadership roles in global public companies.2023 OutlookGiven delays to government customer acquisition timelines, U.S. federal budget uncertainty and the uncertain cadence of new contractual awards, we are withdrawing our previously issued financial guidance for full year 2023. This is not a result of the loss of any anticipated material government customer commitments or contract awards.Mr. Altemus stated, “While we continue to work toward our milestones, the Company is taking steps to positively mitigate the effects of outside-controlled program delays and higher-priority launch pad congestion while retaining the integrity of our long-term growth plan. Concurrently, we are also pursuing opportunities to diversify the Company’s revenue streams. We have submitted more than $3 billion in proposals spread across the aerospace and defense sectors, including human spaceflight.”Conference Call InformationIntuitive Machines will host a conference call today, August 14, 2023, at 4:30 pm Eastern Time to discuss these results. Participants may access the call at 1-877-451-6152, international callers may use 1-201-389-0879, and request to join the Intuitive Machines earnings call. A link to the live webcast of the earnings conference call will be made available on the investors portion of the Intuitive Machines’ website at https://investors.intuitivemachines.com.Following the conference call, participants may access the telephonic replay at 1-844-512-2921, international callers may use 1-412-317-6671, and enter access code 13740192. A webcast replay will be available through the same link on the investors portion of the Intuitive Machines’ website at https://investors.intuitivemachines.com.Key Business Metrics and Non-GAAP Financial MeasuresIn addition to the GAAP financial measures set forth in this press release, the Company has included certain financial measures that have not been prepared in accordance with generally accepted accounting principles (“GAAP”) and constitute “non-GAAP financial measures” as defined by the SEC. This includes adjusted EBITDA (“Adjusted EBITDA”).Adjusted EBITDA is a key performance measure that our management team uses to assess the Company’s operating performance and is calculated as net income (loss) excluding results from non-operating sources including interest income, interest expense, gain on extinguishing of debt, share based compensation, change in fair value instruments, depreciation, and provision for income taxes. Intuitive Machines has included Adjusted EBITDA because we believe it is helpful in highlighting trends in the Company’s operating results and because it is frequently used by analysts, investors, and other interested parties to evaluate companies in our industry.Adjusted EBITDA has limitations as an analytical measure, and investors should not consider it in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Other companies, including companies in Intuitive Machines’ industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, net income (loss) and our other GAAP results. A reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure is included below under the heading “Reconciliation of GAAP to Non-GAAP Financial Measure.”The Company has also included contracted backlog, which is defined as the total estimate of the revenue the Company expects to realize in the future as a result of performing work on awarded contracts, less the amount of revenue the Company has previously recognized. Intuitive Machines monitors its backlog because we believe it is a forward-looking indicator of potential sales which can be helpful to investors in evaluating the performance of its business and identifying trends over time.
