Intuitive Machines, Inc.

Ladies and gentlemen, thank you for standing by. My name is Colby, and I'll be your conference operator today. At this time, I'd like to welcome you to the Intuitive Machines Acquisition Update conference call. All lines are in place on mute to prevent any background noise, and after the speaker's remarks, there will be a question and answer session. If you'd like to ask a question at that time, please press star, then the number one on your telephone keypad. If you'd like to withdraw your question at any time, please press star one again. Please be advised that today's call is being recorded. I would like to turn the call over to Stephen Zhang, Head of Investor Relations. Please go ahead.

Good morning. Welcome to the Intuitive Machines Acquisition Update Call. Chief Executive Officer Steve Altomus and Chief Financial Officer Pete McGrath are leading the call today. Before we begin, please note that some of the information discussed during today's call will consist of forward-looking statements. setting forth our current expectations with respect to the future of our business, the economy, and other events. The company's actual results could differ materially from those indicated in any forward-looking statements due to many factors. These factors are described under forward-looking statements in the company's press release and the company's most recent 10-K and 10-Q filed with the SEC. We do not undertake any obligation to update forward-looking statements. We also expect to discuss certain financial measures and information that are non-GAAP measures as defined in the applicable SEC rules and regulations. Reconciliations to the company's GAAP measures are included in the acquisition update filed on Form 8K. Finally, we posted an acquisition update call presentation to our website, which provides additional context. You can find this presentation on our investor relations page at www.intuitivemachines.com slash investors. Now I'll turn the call over to Steve Altomus.

Thank you, Stephen. Good morning. I'm pleased to announce that Intuitive Machines has entered into a definitive agreement to acquire Lanterra Space Systems, formerly known as Maxar Space Systems, from Advent. in a transaction priced at $800 million, consisting of $450 million in cash and $350 million in Intuitive Machines Class A common stock. During our second quarter earnings call, I stated our long-term vision to become a new space prime, providing delivery, data, and infrastructure services, emphasizing growth in communications, navigation, and space data networking services for defense, civil, and commercial markets. We just did exactly that. With this acquisition, Intuitive Machines is positioned to become the next generation space prime, applying our demonstrated agility and innovation with Land Terrace's unmatched satellite production scale and proven spaceflight reliability. The transaction represents the next step in Intuitive Machines' evolution from a lunar-proven space infrastructure company to a vertically integrated space prime provider of choice, serving national security, civil, and commercial customers across Earth, ground, Earth orbit, moon, Mars, and beyond. Global demand for secure sovereign communications missile warning, and space domain awareness is increasing. U.S. defense and intelligence programs like space development agencies' layered architecture require companies that can move fast, innovate, and deliver at scale. Intuitive Machines brings a disruptive and innovative development approach in building unique, agile, and highly specialized solutions in extreme firm fixed price environments. Over the past two years, we've proven our ability to build, fly, maneuver, and operate in lunar space using our network of global ground stations and our near-space data network. Our vision has always been clear, to build the infrastructure that enables economic expansion into space. To do that, we must move faster and operate at scale, and that is what Lantarus brings. With over 65 years of experience, Lantarus has developed delivered more than 300 spacecraft for critical national security, civil, and commercial missions, supporting missile warning, space command awareness, and communication programs vital to the United States and its allies. The company maintains 99.99% on-orbit availability and operates world-class production facilities totaling over 560,000 square feet. Lanteris builds high-value spacecraft with a strong commercial focus, successfully operating in a cost-efficient competitive environment. In just the last three years, Lanteris introduced its 300 series spacecraft as a leading platform for proliferated low Earth orbit constellations. This record of performance cements Lanteris as a trusted provider of critical space defense capabilities for the U.S. government. We know the growing national security market is seeking commercial minded solutions to address emerging complex missions. This acquisition allows us to apply ingenuity to proven delivery capability that distinguishes ourselves as a next generation prime coupling our collective expertise to address new demands across civil defense and commercial sectors is a powerful combination. We are pleased to bring to market. We believe this acquisition will strengthen the company's position to prime future national security space, including Golden Dome and Space Development Agency's layered architecture, civil space, such as Artemis, LTBS, and Mars Data Relay, and commercial space programs. This acquisition also enhances our competitiveness across several active opportunities where Intuitive Machines already leads, By integrating Lanteris' production scale and communications experience into our existing architectures, we strengthen our pursuit of our vision, expanding our lunar data relay constellation under the Near Space Network Services Contract, and commercializing NASA's tracking and data relay satellite system. This integration can accelerate task orders and broaden our capacity to deliver value from every orbit. We believe this acquisition accelerates Intuitive Machines transition into a company that can design, manufacture, deliver, and operate missions across the entire space domain, from Earth orbit to lunar orbit, and ultimately to Mars and deep space. Intuitive Machines is creating a new model for how space primes operate that intends to unlock diverse revenue streams that fuel a high-growth, high-margin portfolio. As mentioned, Lanteris positioned the company for sustainable growth by investing in the 300-class satellite and pivoting toward national security markets, including the Space Development Agency Tranche 1 and Tranche 2 awards for L3Harris in 2022 and 2024. That foundation unlocked the potential of Lanteris' 300-series spacecraft for national security applications and established it as a trusted competitive supplier. We look forward to applying our innovation, speed of execution, and services model to further amplify this momentum. I'll now hand it over to Pete McGrath to go over Q3 financials along with details around the transaction.