Shares of Intuitive Machines (LUNR.O) fell sharply on Thursday following indications that their second lunar landing attempt may have failed to achieve an upright position. Data from the Athena lander suggests it ended on its side after landing, much like the company’s first attempt last year, according to the company.
The Athena lander, carrying 11 payloads and scientific instruments, touched down near the lunar south pole after launching atop a SpaceX rocket on February 26 from Florida. However, the company is concerned about its orientation.
“We don’t believe we’re in the correct attitude on the surface of the moon, yet again,” said Steve Altemus, CEO of the Houston-based startup, during a news conference.
Intuitive Machines is one of several companies working with NASA to facilitate the return of the United States to the moon, with the agency supporting private sector involvement to achieve lower-cost spaceflight initiatives.
Following the news, Intuitive Machines shares were down 36% in extended trading, trading at approximately $7. This comes after a 20% drop to $11.26 during the regular Nasdaq session.
Altemus explained that data returned to Earth from the lander indicated the vehicle was not upright. Specifically, he cited data from the Inertial Measurement Unit, or IMU, which suggested the lander was “oriented somewhat on our side.”
“The IMU measurement was the piece of data that gave us the most clarity … so we think that’s the case,” Altemus added, confirming the assessment.
The positioning of the lander could create difficulties with power generation, rendering the mission “off-nominal,” Altemus stated. He also mentioned “challenges” with the laser rangefinders, which are used to measure distance.
Athena’s landing was scheduled for touchdown at 12:32 p.m. ET (1732 GMT). Telemetry showed that its engine was still running at that time as it appeared to hover above the lunar surface. Minutes later, the engine was shut down, and the company confirmed Athena was “on the surface of the moon,” although its precise position remained uncertain.
The company may choose to delay its third lunar landing mission, currently planned for next year, to wait for the deployment of a company communications satellite, Altemus said.
Company executives attempted to offer an optimistic perspective on the situation. Chief Technology Officer Tim Crain described the flight to the moon as successful along with crater-recognition algorithms that performed “almost an order of magnitude better than we anticipated.”
“The future is bright for Intuitive Machines to land lots and lots of cargo on the moon,” Crain commented.
Intuitive Machines’ initial lunar landing attempt about a year ago saw its Odysseus lander make a hard touchdown due to a faulty laser altimeter causing damage that resulted in the craft toppling over.
Five nations have successfully achieved soft landings on the moon in the past: the Soviet Union, the United States, China, India, and, last year, Japan. The United States and China are working to place astronauts on the moon this decade, enlisting allies and engaging their private sectors in spacecraft development.
India’s Chandrayaan-3, an uncrewed mission in 2023, touched down close to the lunar south pole. Major spacefaring nations are interested in that region for its resource extraction potential. Subsurface water ice could theoretically be converted into rocket fuel.
Firefly Aerospace, based in Austin, celebrated a clean touchdown of its Blue Ghost lander this month, marking the most successful soft landing to date by a private company.
Intuitive Machines, Firefly, Astrobotic Technology, and other companies are developing lunar spacecraft under NASA’s Commercial Lunar Payload Services program, with the goal of developing low-budget spacecraft to explore the lunar surface before the U.S. sends astronauts there around 2027.
