Intuitive Machines shares rose about 10% on Friday morning to around $19, reversing the prior session's decline after investors shifted focus from the company's second-quarter miss to its record backlog and bookings. The company reported Q2 2026 revenue of $206.2 million, below the roughly $221.1 million consensus, while its GAAP loss widened to $0.29 per share from $0.22 and missed the expected $0.10 loss. Even so, backlog reached about $1.8 billion, up $1.5 billion from the end of 2025, with year-to-date bookings of $1.7 billion, including $1.2 billion during and after the quarter. Intuitive Machines maintained full-year 2026 guidance for $900 million to $1 billion in revenue and positive adjusted EBITDA, ended the quarter with $367 million in cash, and said authority-to-proceed awards could add another $300 million in the second half. Stifel added support by upgrading the stock to Buy from Hold, though it lowered its price target to $26 from $32. Virgin Galactic also gained about 10% to nearly $3.50 in what appeared to be a rebound from Thursday's 8% drop after the company pushed its first commercial service target to February 2027 from the fourth quarter of 2026. On Virgin Galactic's earnings, reported figures conflicted: one set showed a $0.58 loss per share versus a $0.60 consensus with $0.13 million in revenue, while another compilation cited by Stocktwits and Fiscal.ai showed a $0.50 loss against a $0.65 estimate. CEO Michael Colglazier said the $750,000 tranche of spaceflight expeditions was oversubscribed and booked ahead of schedule. The rally was narrow across listed space names, with Rocket Lab, AST SpaceMobile and Planet Labs little changed and the Procure Space ETF roughly flat, underscoring that the move was concentrated in Intuitive Machines and Virgin Galactic rather than the broader sector.