Intuitive Machines, Inc. (LUNR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 284.63% of current shares
Recent Dilution: 118.23% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
160M
Potential Supply
450M
Additional shares possible
Splits
None
Past 2 years

Summary

LUNR currently has 159M outstanding shares. with significant dilution risk as 454M authorized shares could dilute existing holders by 284.6%. The company has significantly diluted shareholders by 118.23% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

8-K filing: Intuitive Machines, Inc. entered into a Share Purchase Agreement to acquire Goonhilly Earth Station Limited for aggregate consideration of £37,000,000, including the issuance of 960,649 shares of its Class A Common Stock.

160M 450M
Mar 19, 2026

10-K filing | 159.4M shares outstanding

160M 450M
Nov 13, 2025

10-Q filing | 117.8M shares outstanding

120M 450M
Aug 07, 2025

10-Q filing | 117.4M shares outstanding

120M 450M
May 13, 2025

10-Q filing | 107.1M shares outstanding

110M 450M
Mar 25, 2025

10-K filing | 115.7M shares outstanding

120M 450M
Feb 04, 2025

8-K filing: Intuitive Machines issued 7,500,000 shares of Class C common stock to Stephen Altemus, Timothy Crain, and Dr. Kamal Ghaffarian. The company also purchased 941,080 shares of Class A common stock from Michael Blitzer for $20,700,000 in connection with warrant redemption. ($20.7M proceeds)

81M 450M
Nov 18, 2024

POS AM filing: This Post-Effective Amendment No. 1 deregisters any and all securities that remain unsold or otherwise unissued under the Registration Statement due to the termination of the Purchase Agreement.

81M 450M
Nov 15, 2024

10-Q filing | 80.9M shares outstanding

81M 460M
Aug 13, 2024

10-Q filing | 62.3M shares outstanding

62M 460M
May 14, 2024

10-Q filing | 53.7M shares outstanding

54M 460M
Mar 27, 2024

S-3 filing: Intuitive Machines, Inc. is offering up to $300,000,000 of Class A Common Stock. Additionally, this prospectus relates to the resale of shares and warrants by selling securityholders and the issuance of shares upon redemption of units, exercise of warrants, and conversion of preferred stock.

160M 460M
Mar 25, 2024

10-K filing | 51.1M shares outstanding

51M 190M
Jan 30, 2024

8-K filing: Intuitive Machines issued 3,487,278 shares of Class A Common Stock to Ghaffarian Enterprises, LLC in exchange for a $10.0 million contribution to repay a credit line. ($10.0M proceeds)

21M 190M
Jan 11, 2024

8-K filing: Intuitive Machines, Inc. entered into a warrant exercise agreement with an existing accredited investor to exercise an outstanding Series B Common Stock Purchase Warrant for 4,705,883 shares of Class A common stock, receiving new warrants and reducing exercise prices of existing warrants in exchange for approximately $11.8 million in gross proceeds. ($11.8M proceeds)

21M 190M
Nov 13, 2023

10-Q filing | 21.0M shares outstanding

21M 190M
Sep 21, 2023

S-1 filing: This is an S-1 filing related to the offering of Class A Common Stock issuable upon the exercise of PIPE Warrants held by the selling stockholder and PIPE shares.

16M 190M
Sep 06, 2023

8-K filing: Intuitive Machines, Inc. completed a private placement on September 5, 2023, selling 4,705,883 shares of Class A Common Stock along with warrants to purchase an additional 9,411,766 shares of Class A Common Stock, for gross proceeds of $20.0 million, and also sold shares of Class A and Class C common stock to Ghaffarian Enterprises, LLC on September 6, 2023 for $0.6 million. ($20.6M proceeds)

16M 170M
Aug 14, 2023

10-Q filing | 15.7M shares outstanding

16M 170M
Jun 29, 2023

S-1/A filing: This prospectus relates to the potential offer and sale from time to time by CF Principal Investments LLC of up to 4,789,272 shares of class A common stock, that may be issued by us to Cantor pursuant to a common stock purchase agreement, and also relates to 95,785 shares of Class A Common Stock which we have agreed to issue to Cantor in connection with the execution of the Purchase Agreement

15M 170M
Jun 29, 2023

S-1/A filing: This S-1/A filing registers the resale of (i) 95,187,767 shares of class A common stock, (ii) 6,845,000 warrants to purchase Class A Common Stock at an exercise price of $11.50 per share, (iii) 1,450,000 public warrants to purchase Class A Common Stock at an exercise price of $11.50 per share and (iv) 21,930,384 shares of Class A Common Stock issuable upon the exercise of outstanding Warrants.

15M 170M
Jun 23, 2023

S-1/A filing: This S-1/A filing registers the resale of shares of Class A common stock, private placement warrants and public warrants.

15M 170M
Jun 05, 2023

S-1/A filing: This S-1/A filing relates to the potential offer and sale from time to time by CF Principal Investments LLC of up to 4,789,272 shares of class A common stock and 95,785 Commitment Shares.

15M 170M
Jun 05, 2023

S-1/A filing: This S-1/A filing registers the resale of shares of Class A Common Stock, Private Placement Warrants and Public Warrants as required by agreements with the Sponsor, certain securityholders, the Series A Investors, and certain legacy investors in Intuitive Machines OpCo.

15M 170M
May 15, 2023

10-Q filing | 15.2M shares outstanding

15M 170M
Mar 31, 2023

S-1 filing: Registration of 4,691,812 shares of Class A common stock for potential offer and sale by CF Principal Investments LLC, including shares issuable under a committed equity facility and commitment shares.

33M 170M
Mar 31, 2023

S-1 filing: This prospectus relates to the resale from time to time of up to (i) 91,135,338 shares of class A common stock, (ii) 6,845,000 warrants to purchase Class A Common Stock, (iii) 1,450,000 public warrants and (iv) 23,332,500 shares of Class A Common Stock upon the exercise of outstanding Warrants.

33M 170M
Mar 31, 2023

10-K filing | 84.2M shares outstanding

84M 170M
Feb 14, 2023

POS AM filing: This POS AM filing discusses the authorization of the board of directors to issue preferred stock in one or more series, including blank check preferred stock, and to fix the powers, designations, preferences, and rights of such stock.

33M 41M
Feb 14, 2023

8-K filing: Intuitive Machines issued and sold 2,166,667 shares of Series A Preferred Stock and 541,667 Preferred Investor Warrants to the Series A Investors for aggregate consideration of $26,000,000 on February 13, 2023. ($52.0M proceeds)

33M 41M
Feb 10, 2023

8-K filing: Inflection Point Acquisition Corp. entered into Forward Purchase Agreements with Polar Multi-Strategy Master Fund and The HGC Fund LP for over-the-counter Equity Prepaid Forward Transactions, where each seller agreed to hold a maximum of 1,250,000 Class A ordinary shares of Inflection Point.

33M 41M
Nov 10, 2022

10-Q filing | 33.0M shares outstanding

33M 41M
Aug 12, 2022

10-Q filing | 33.0M shares outstanding

33M 41M
May 13, 2022

10-Q filing | 33.0M shares outstanding

33M 41M
Apr 14, 2022

10-K filing | 33.0M shares outstanding

33M 41M
Nov 15, 2021

10-Q filing | 33.0M shares outstanding

33M 41M
Nov 04, 2021

8-K filing: Inflection Point Acquisition Corp. consummated its initial public offering of 30,000,000 units at $10.00 per unit, generating gross proceeds of $300,000,000, and the underwriters exercised their over-allotment option in part, purchasing an additional 2,975,000 units for gross proceeds of $29,750,000; simultaneously with the IPO, the company completed a private sale of 6,250,000 warrants to Inflection Point Holdings LLC at $1.00 per warrant, generating gross proceeds of $6,250,000, and consummated a private sale of an additional 595,000 warrants to the Sponsor, generating gross proceeds of $595,000. ($336.6M proceeds)

8.6M 41M
Oct 01, 2021

8-K filing: Inflection Point Acquisition Corp. consummated its initial public offering of 30,000,000 units at $10.00 per Unit, generating gross proceeds of $300,000,000, and completed a private sale of 6,250,000 warrants to Inflection Point Holdings LLC at $1.00 per warrant, generating gross proceeds of $6,250,000. ($306.25M proceeds)

8.6M 41M
Sep 24, 2021

8-K filing: Inflection Point Acquisition Corp. consummated its initial public offering of 30,000,000 units at $10.00 per unit, generating gross proceeds of $300,000,000, and completed the private sale of 6,250,000 warrants to the Sponsor at $1.00 per warrant, generating gross proceeds of $6,250,000. ($306.25M proceeds)

8.6M 41M
Aug 20, 2021

S-1/A filing: Inflection Point Acquisition Corp. is offering 30,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant.

8.6M 41M
May 07, 2021

S-1/A filing: This S-1/A filing registers 30,000,000 units at $10.00 per unit, each consisting of one Class A ordinary share and one-half of one redeemable warrant, along with 8,250,000 private placement warrants for $1.00 each, exercisable for Class A ordinary shares at $11.50 per share.

8.6M 53M
Mar 30, 2021

S-1/A filing: Inflection Point Acquisition Corp. is offering 30,000,000 units at $10.00 per unit, each unit consisting of one Class A ordinary share and one-third of one redeemable warrant, in an initial public offering.

8.6M 38M
Mar 26, 2021

S-1/A filing: This S-1/A filing details an initial public offering of units for a blank check company, Inflection Point Acquisition Corp, with each unit consisting of one Class A ordinary share and one-third of one redeemable warrant, and also describes a private placement of warrants and a forward purchase agreement.

8.6M 43M
Mar 19, 2021

S-1/A filing: Inflection Point Acquisition Corp. is offering 30,000,000 units at $10.00 per unit, each unit consisting of one Class A ordinary share and one-third of one redeemable warrant, as well as private placement warrants and forward purchase agreement.

8.6M 43M
Mar 05, 2021

S-1 filing: Inflection Point Acquisition Corp. is offering 30,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-third of one redeemable warrant, in an initial public offering.

38M 43M
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