Intuitive Machines reported $815M of remaining performance obligations at 30 Jun 2026, up 550% from a year earlier and up 3% from the previous quarter. That is 1.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.11.
Net new backlog added in the latest quarter: $22.4M.
Over the last twelve months it turned about 287% of its opening backlog into revenue (12-month conversion).
Customer prepayments (contract liabilities) cover 27.0% of the backlog.
Twelve-month book-to-bill: 2.41, i.e. 2.41 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +433 points — orders are running ahead of revenue.
By backlog size it ranks 255th among US filers the cockpit tracks.
Intuitive Machines backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Jun 2026
$815M
$490M
1.7 yrs
$220M
31 Mar 2026
$792M
$334M
2.4 yrs
$208M
31 Dec 2025
$103M
$210M
0.5 yrs
$63.7M
30 Sep 2025
$119M
$220M
0.5 yrs
$67.8M
30 Jun 2025
$125M
$226M
0.6 yrs
$71.6M
31 Mar 2025
$136M
$217M
0.6 yrs
$70.9M
31 Dec 2024
$169M
$228M
0.7 yrs
$79.5M
30 Sep 2024
$196M
$204M
1.0 yrs
$55.7M
30 Jun 2024
$94.6M
$158M
0.6 yrs
$43.9M
31 Mar 2024
$65.8M
$134M
0.5 yrs
$32.3M
31 Dec 2023
$57.2M
$79.6M
0.7 yrs
$41.4M
30 Sep 2023
$69.1M
$88.1M
0.8 yrs
$50.2M
Questions
What is Intuitive Machines's backlog?
Intuitive Machines reported $815M of remaining performance obligations at 30 Jun 2026, up 550% from a year earlier and up 3% from the previous quarter. That is 1.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.11.
How fast does Intuitive Machines's backlog turn into revenue?
Over the last twelve months Intuitive Machines recognised revenue equal to about 287% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.