Intuitive Machines (LUNR) Cash Flow: Operating & Free Cash Flow

Intuitive Machines Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Intuitive Machines, Inc. (LUNR) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	-106.85	-346.92	10.14	-6.41	-35.65	-4.25
Depreciation & Amortization	3.60	1.86	1.38	1.07	0.84	0.58
Deferred Income Tax	3.93	0.00	0.01	-0.01	0.00	0.00
Stock Based Compensation	8.61	8.80	4.27	0.62	0.32	0.00
Change in Working Capital	44.84	-17.78	11.36	4.55	20.26	11.90
Change in Accounts Receivable	52.72	-56.42	-14.25	-3.88	2.74	0.17
Change in Inventory	0.00	0.00	0.00	0.00	0.00	0.70
Change in Accounts Payable	-3.13	-4.26	18.53	3.65	-9.08	10.33
Change in Other Working Capital	-4.76	42.91	7.08	4.79	26.60	5.06
Other Operating Activities	31.56	296.45	-72.43	0.95	-2.33	-0.08
Net Cash from Operating Activities	-14.32	-57.59	-45.28	0.78	-16.57	8.15
Investing Activities
Capital Expenditures	-41.70	-10.11	-29.91	-16.41	-3.18	-2.55
Acquisitions	-14.88	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-0.06	0.00	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	-56.58	-10.11	-29.91	-16.41	-3.18	-2.55
Financing Activities
Debt Repayment	335.51	-8.00	-12.00	7.84	12.11	1.66
Common Stock Issued	176.55	61.56	0.00	0.01	0.00	0.00
Common Stock Repurchased	-20.70	0.00	0.00	0.00	0.00	0.00
Dividends Paid	0.00	0.00	-7.95	0.00	0.00	0.00
Other Financing Activities	-44.78	219.23	73.88	4.25	13.00	0.00
Net Cash from Financing Activities	446.59	272.79	53.92	12.10	25.11	1.66
Summary
Net Change in Cash	375.69	205.09	-21.27	-3.53	5.36	7.26
Cash at Beginning of Period	209.65	4.56	25.83	29.35	23.99	16.73
Cash at End of Period	585.34	209.65	4.56	25.83	29.35	23.99
Free Cash Flow	-56.02	-67.70	-75.19	-15.62	-19.74	5.60
Supplemental Disclosures
Interest Paid	-	0.41	1.92	-	-	-
Income Taxes Paid	-	0.61	0.04	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Intuitive Machines Cash Flow

What is Intuitive Machines's free cash flow?

Intuitive Machines had negative free cash flow of $56.02M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$14.32M minus $41.70M of capital expenditures.

How much does Intuitive Machines spend on capital expenditures?

Intuitive Machines spent $41.70M on capital expenditures in fiscal 2025, compared with $10.11M a year earlier.

Does Intuitive Machines pay dividends or buy back shares?

Yes. In fiscal 2025 Intuitive Machines returned $20.70M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition