Small-cap space stocks rebounded after a steep monthly slide: Intuitive Machines rose 9% to $11.47, Rocket Lab gained 7% to $57.72, and SpaceX rose 2% to $149.79. Intuitive Machines is still down 27% over the past month. In its Q2 2026 report, it posted revenue of $206.17 million, more than four times the $50.31 million a year earlier, and a record backlog of $1.76 billion, while confirming full-year revenue guidance of $900 million to $1 billion. National-security work rose from 3% to 30% of Q2 revenue, and the company won an 18-spacecraft award for the Golden Dome missile defense constellation. However, it has not guided on when it expects free cash flow, and ended Q2 with $367 million after a $60 million operating outflow.
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