AcquisitionsMay 14, 2026, 07:56 AM
Intuitive Machines to acquire Goonhilly Earth Station for £37M
AI Summary
Intuitive Machines, Inc. announced a definitive agreement to acquire Goonhilly Earth Station Ltd. (UK) and its COMSAT subsidiary (US operations), aiming to expand its integrated space-to-ground data services network. The UK acquisition is valued at £37 million, split equally between stock and cash, and is expected to close in Q3 2026, subject to regulatory approvals. Concurrently, the company reported record Q1 2026 financial results, with revenue of $186.7 million, positive Adjusted EBITDA of $2.7 million, and a record backlog of $1.1 billion. The company also provided a positive full-year 2026 revenue outlook.
Key Highlights
- Intuitive Machines' subsidiary to acquire Goonhilly Earth Station (UK) for £37,000,000.
- Consideration for UK acquisition split equally: 960,649 shares of Class A Common Stock and cash.
- Acquisition expected to close in Q3 2026, subject to UK and FCC regulatory approvals.
- Reported record Q1 2026 revenue of $186.7 million, nearly 3x prior year.
- Achieved record positive Adjusted EBITDA of $2.7 million in Q1 2026.
- Ended Q1 2026 with record backlog of $1.1 billion, an $842 million increase from year-end 2025.
- Awarded $428.9 million in new contracts, including a $180.4 million CLPS contract from NASA.
- Full-year 2026 revenue outlook of $900 million - $1 billion.
Price Impact
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