HIGHOutside partySupplier
single launch provider
“10-K Item 1A: 'We rely on a limited number of suppliers for certain materials and supplied components, including a single launch provider for our lunar missions.'”
LUNR · Concentration risk · 10-K extracted
Intuitive Machines (LUNR) concentration risks
Updated
The most significant concentration Intuitive Machines discloses is single launch provider, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Intuitive Machines’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-in & outside partyCustomer
U.S. government contracts
“10-K Item 1A: 'We depend significantly on U.S. government contracts, which often are only partially funded, subject to immediate termination'”
MEDIUMBuilt-inProduct / Revenue mix
build contracts
“10-K Item 1: 'These build contracts generate the majority of our near-term revenue'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile combines a high-share supplier dependency with two medium-share exposures on the customer and revenue-type dimensions, and the three interact in ways that amplify the underlying risk. On the supply side, the company relies on a single launch provider for its lunar missions — a high-share dependency with no disclosed alternative. Because launch availability is the enabling constraint for the company's core service offering, a failure, delay, or commercial disruption at the sole launch provider would directly impair the company's ability to execute missions and recognize revenue. The customer base is dominated by U.S. government contracts, which represent a significant but medium-share exposure with a mixed character — structurally supported by long-cycle space exploration priorities but subject to the dependency risk of partial funding, potential immediate termination, and shifting congressional appropriations. These contracts are the company's primary revenue conduit and also the mechanism through which launch-mission demand is generated, creating a feedback loop between customer concentration and the single-launch-provider dependency. Compounding both, build contracts generate the majority of near-term revenue — a medium-share structural concentration reflecting the current stage of the business, where contract execution rather than recurring service revenue dominates the income statement. Together the profile presents a concentrated demand source (U.S. government), a sole-source operational dependency (launch provider), and a front-loaded revenue model (build contracts), creating a business where execution on a small number of contracts with a single launch provider defines near-term financial performance.
For the engine’s reasoning on LUNR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Aerospace & Defense
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| LUNR● | Intuitive Machines, Inc. | 1 | 2 | 0 | 3 |
| AVAV | AeroVironment, Inc. | 1 | 1 | 2 | 4 |
| ACHR | Archer Aviation Inc. | 1 | 0 | 0 | 1 |
| AXON | Axon Enterprise, Inc. | 0 | 2 | 0 | 2 |
| AIR | AAR Corp. | 0 | 0 | 1 | 1 |
| ATRO | Astronics Corporation | 0 | 0 | 1 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.