Alexander Preston's questions to Intuitive Machines (LUNR) leadership • Q2 2025
Question
Alexander Preston of Bank of America, on for Ron Epstein, asked for the rationale behind vertically integrating satellite production for the NSNS contract and inquired about the reason for the delay in receiving the IM-2 mission success payments.
Answer
CEO Steve Altemus explained the decision was driven by supply chain struggles with existing satellite buses, which were not optimized for the lunar environment. He emphasized that investing the ~$100M for NSNS satellites internally builds a valuable, long-term capability. He also clarified the IM-2 payment delay was due to standard negotiation and data-sharing processes with NASA, with the ~$6M in payments now expected in Q3.