Reported Earnings • Aug 13
Second quarter 2026 earnings released: US$0.70 loss per share (vs US$22.03 loss in 2Q 2025) Second quarter 2026 results: US$0.70 loss per share. Net loss: US$8.27m (loss widened 28% from 2Q 2025). Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Aerospace & Defense industry in the US. Annonce • Jul 31
Momentus Inc. Demonstrates Milestone Execution With Vigoride 7 Orbital Service Vehicle And Provides Updates On Payload Mission Execution Momentus Inc. announced its Vigoride 7 Orbital Service Vehicle (OSV) has successfully completed another key milestone during its mission, which is scheduled to last for several months. The Vigoride 7 mission began on March 30, 2026 when the OSV was launched to low-Earth orbit on the SpaceX Transporter 16 mission. The Vigoride 7 OSV is carrying 10 payloads for a range of customers including NASA and U.S. Defense Department/Department of War organizations and commercial customers. The Vigoride 7 OSV has completed a series of orbit-lowering maneuvers, reducing its altitude nearly 20 km through more than 50 controlled and precisely timed operations of both of its on-board Microwave Electrothermal Thrusters (METs) that utilize water as its propellant. The innovative Momentus MET has now cumulatively been used over 400 times to maneuver the Vigoride spacecraft on the Company’s missions since 2023 demonstrating the maturity of this proprietary system. In addition to completing orbit-lowering maneuvers, Momentus and its mission partners continue to operate hosted payloads on the Vigoride 7 mission. Two hosted payloads developed by Momentus are showing good results. Vigoride’s momentum wheels, flown on the vehicle for the first time, are working smoothly and responding to commands as expected. Flight testing of a titanium, additively manufactured fuel tank designed by Momentus is going well and holding pressure as expected. The flight test of this fuel tank is a key step in demonstrating the potential of additive manufacturing, otherwise known as 3D printing, to accelerate innovation in spacecraft design, reduce production timelines, and enable complex geometries that improve performance of mission-critical spacecraft components. The Momentus designed fuel tank is of the type that is in high demand as small satellites are produced in much greater numbers. Momentus and our mission partners continue to operate and execute mission plans for other hosted payloads on Vigoride 7 that provide communications, on-board computing, and conduct in-space assembly of structures. The Company plans to provide further updates on these payloads and the ongoing Vigoride 7 mission in the future. The Company’s upcoming fully-booked Vigoride 8 mission is scheduled to fly in 2027 carrying two NASA payloads. Momentus has also begun work on its Vigoride 9 spacecraft. Momentus still has capacity available on the Vigoride-9 mission. Annonce • Jul 29
Momentus Completes Spacecraft Critical Design Review for Vigoride 8 Mission Launch Momentus has announced the successful completion of the Spacecraft Critical Design Review (CDR) for its Vigoride 8 mission, transporting two hosted payloads under contracts with NASA. Successful completion of this key program milestone formally concludes the design and analysis phase of the preparation of the spacecraft. Momentus has been successfully executing two contracts from NASA to carry two cutting-edge hosted payloads in orbit: the Spaceworks COSMIC payload and the Juno Rotating Detonation Rocket Engine (RDRE) payload. NASA and mission customers from Spaceworks, COSMIC, and Juno attended the Vigoride 8 review onsite at Momentus’ San Jose headquarters where all subsystems and systems were examined in a detailed nine-hour review. At the conclusion of the review, the Vigoride 8 design received a “green” overall status to proceed, which signifies design maturity and program discipline underscoring Momentus’ space heritage, and reliance on this unique insight and expertise to enable precise design and comprehensive mission plans at a competitive pace. The Company’s upcoming fully booked Vigoride 8 mission is scheduled to fly in 2027 with these NASA-hosted payloads. Momentus has also begun work on its subsequent Vigoride 9 spacecraft and mission planning. Momentus still has capacity available on the Vigoride 9 mission, and organizations interested in securing a payload slot can contact the Momentus Commercial team. Board Change • Jun 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Director Brian Kabot was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jun 17
Momentus Inc. has completed a Follow-on Equity Offering in the amount of $25.000002 million. Momentus Inc. has completed a Follow-on Equity Offering in the amount of $25.000002 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,851,852
Price\Range: $13.5
Discount Per Security: $0.945
Transaction Features: Registered Direct Offering Annonce • Jun 14
Momentus Inc. has filed a Follow-on Equity Offering in the amount of $25 million. Momentus Inc. has filed a Follow-on Equity Offering in the amount of $25 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,851,852
Price\Range: $13.499999
Transaction Features: Registered Direct Offering Annonce • May 30
Momentus Inc. announced that it has received $25.006992 million in funding On May 28, 2026, Momentus Inc. closed the transaction. The paid the Placement Agent a cash fee of 7.0% of the aggregate gross proceeds and issued to the Placement Agent warrants to purchase 147,100 shares of Common Stock (the “Placement Agent Warrants”) at an exercise price of $9.35 per share, which are exercisable 180 days from the date of commencement of sales of the private placement offering. Annonce • May 27
Momentus Inc. announced that it expects to receive $25 million in funding Momentus Inc. has announced that it has entered into securities purchase agreements with existing institutional investors for the purchase and sale of 2,942,000 shares of its common stock (or common stock equivalents in lieu thereof) in a private placement priced at-the-market under Nasdaq rules. The gross proceeds from the offering are expected to be approximately $25,000,000 before deducting placement agent fees and other estimated offering expenses on May 27, 2026. The closing of the offering is expected to occur on or about May 28, 2026, subject to the satisfaction of customary closing conditions. Annonce • May 01
Momentus Inc. Advances Vigoride 8 Mission with Preliminary Design Review Completion Momentus Inc. announced they completed the Preliminary Design Review for the Vigoride 8 mission, a fully booked flight carrying the Spaceworks COSMIC payload and the NASA-commissioned Juno Rotating Detonation Rocket Engine (RDRE) payload. A Preliminary Design Review verifies that a mission or system’s proposed design meets all requirements and is technically sound enough to advance into detailed development. Completing this significant milestone keeps the mission on schedule for an early 2027 launch. This design work is being conducted by Momentus under two contracts it has signed with NASA. The completion of the Preliminary Design Review provides further indication of the Company’s operational progress and commercial traction that matter to our long-term trajectory. A fully manifested mission demonstrates early customer commitment and demand for Momentus’ in-space transportation services. A successful Preliminary Design Review confirms that the program is ready to enter detailed design, a key step toward maintaining schedule discipline. A clear path to Critical Design Review in late May 2026 provides visibility into the program’s next major milestone and supports confidence in the mission timeline. Investment in expanded infrastructure, including the new facility used for the review, positions the company to support higher mission throughput and future growth. Annonce • Apr 17
Momentus Inc. announced that it has received $5.000003 million in funding On April 15, 2026, Momentus Inc. closed the transaction. Annonce • Apr 16
Momentus Inc. has filed a Follow-on Equity Offering in the amount of $5.000003 million. Momentus Inc. has filed a Follow-on Equity Offering in the amount of $5.000003 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,333,334
Price\Range: $3.75
Transaction Features: Registered Direct Offering Annonce • Apr 14
Momentus Inc Marks Technical Achievements as Vigoride-7 Prepares for Payload Operations Momentus Inc. shared a series of significant achievements in the ongoing Vigoride-7 mission, marking one of the most successful early-phase operations in the company’s history. Following separation from SpaceX’s Transporter-16 mission at approximately 520 km altitude, the Vigoride-7 Orbital Service Vehicle powered on autonomously, deployed its solar arrays, and executed initial configuration as designed. Within hours, Momentus established two-way communication between Vigoride-7 and their San Jose based Mission Operations Center. Early communication verified the spacecraft and its hosted payloads are healthy. Comprehensive bus system checks validated that primary and redundant subsystems for power, command & data handling, and attitude control were fully operational. Their major milestones to date include: Pressurization of the main water-based propulsion tank to mission-required levels; Activation of the Reaction Control Subsystem (RCS) accumulators, responsible for pressure regulation of 8 redundant RCS thrusters, providing fine attitude control; Attitude Control System (ACS) successfully dampened out their spacecraft’s rotation rates as they prepare to perform an initial orbit adjustment prior to commencing payload operations. Achieving these milestones paves the way for the next phase of the mission: a planned orbit-lowering maneuver that will position Vigoride-7 for upcoming payload operations. Momentus will continue to release progress reports as the mission unfolds over the coming weeks. Annonce • Apr 13
Momentus Inc., Annual General Meeting, May 19, 2026 Momentus Inc., Annual General Meeting, May 19, 2026. Annonce • Mar 30
Momentus Inc. Launches Vigoride 7 Orbital Service Vehicle Momentus Inc. announced the successful launch of its Vigoride 7 Orbital Service Vehicle to low-Earth orbit aboard SpaceX’s Transporter-16 mission. The Vigoride 7 spacecraft, integrated on a dedicated launch plate aboard the Falcon 9, is slated to conduct a series of in-space operations to test, validate, and showcase a suite of next-generation capabilities. Over the course of the mission, Momentus will host and operate 10 government and commercial payloads, including demonstrations of autonomous rendezvous and proximity operations (RPO), in-space assembly technologies, advanced communications systems, and high-performance onboard computing. These activities are being conducted under contracts with the National Aeronautics and Space Administration (NASA), multiple U.S. Department of War organizations, and commercial partners. This includes approximately USD 4.2 million in contracts with the Defense Advanced Research Projects Agency (DARPA), an approximately USD 1.9 million contract with SpaceWERX, the innovation arm of the U.S. Space Force, and additional agreements with NASA’s Johnson Space Center and Armstrong Flight Research Center. The Vigoride 7 mission will be operated from Momentus’ Mission Control Center in San Jose, California. With over 300 kg of payload capacity and up to 3 kW of peak onboard power, the Vigoride platform is designed to support increasingly complex commercial and government use cases in LEO and beyond. Momentus works with DARPA, the Space Force, AFRL, NASA, and innovative commercial partners including Portal, Orbit Fab, CisLunar Industries, DPhi, Scout Space, and Solstar Space. Their missions reflect the growing demand for flexible, responsive, and capable in-space services. As previously announced, Vigoride 8, scheduled to launch early next year, is fully manifested, flying two complex payloads funded through the NASA Flight Opportunities Program out of Armstrong Flight Research Center. Annonce • Jan 06
Momentus Inc. announced that it expects to receive $5 million in funding Momentus Inc entered into a securities purchase agreement with an existing single institutional investor for a private placement to issue 925,926 common share at an issue price of $5.40 for the proceeds of $5,000,000.4 along with warrant on January 5, 2026. The warrants will have an exercise price of $5.40 per share, will be exercisable immediately following receipt of shareholder approval and will expire five years from the initial exercise date. The closing of the offering is expected to occur on or about January 6, 2026, subject to the satisfaction of customary closing conditions. Annonce • Jan 05
Momentus Develops Additive Manufactured Fuel Tank with Strategic Partner Velo3D to Be Flight Testing on Vigoride-7 Mission Momentus Inc. announced the development of an additive manufactured fuel tank. The fuel tank is scheduled to perform flight testing aboard Momentus's Vigoride-7 Orbital Service Vehicle. The tank was produced in collaboration with Velo3D, a leading provider of advanced metal additive manufacturing technology. This milestone demonstrates the potential of additive manufacturing to accelerate innovation in spacecraft design, reduce production timelines, and enable complex geometries that improve performance in demanding space environments. The fuel tank, designed by Momentus and manufactured using Velo3D's advanced metal 3D printing technology, represents a significant step forward in the adoption of additive manufacturing for mission-critical spacecraft components. By leveraging Velo3D's fully integrated solution, Momentus designed and produced a tank with optimized features that would be difficult or impossible to achieve with traditional manufacturing methods. Momentus plans to utilize this technology to serve new markets as a qualified supplier for space-rated fuel tanks that typically are high cost and require long lead times. The Vigoride-7 mission marks another step in Momentus' commitment to advancing in-space infrastructure and services. By integrating additive manufacturing into its supply chain, Momentus aims to reduce costs, shorten development cycles, and enhance the resilience of its spacecraft systems. Annonce • Dec 17
Momentus Completes Key Milestone for Next Launch of Spacecraft with Customer Payloads Momentus Inc. announced the successful completion of Environmental Testing of its Vigoride-7 Orbital Service Vehicle, scheduled to launch aboard SpaceX's Transporter-16 mission targeted for launch no earlier than March 2026. Vigoride 7 is scheduled to carry payloads for several customers, including the U.S. Defense Department, NASA, and commercial customers, that will generate new revenue. The rigorous testing campaign included Thermal Testing, which simulated the extreme temperature swings of space to validate spacecraft performance and reliability; and Vibration Testing conducted at Experior Laboratories, which exposed Vigoride-7 to the mechanical stresses of launch conditions. Annonce • Nov 15
Momentus Inc. announced delayed 10-Q filing On 11/14/2025, Momentus Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • Aug 15
Momentus Inc. announced delayed 10-Q filing On 08/14/2025, Momentus Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • Jun 30
Momentus Inc. has completed a Follow-on Equity Offering in the amount of $3.999979 million. Momentus Inc. has completed a Follow-on Equity Offering in the amount of $3.999979 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 680,000
Price\Range: $1.41
Discount Per Security: $0.0987
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 2,156,880
Price\Range: $1.40999
Discount Per Security: $0.098699 Annonce • Jun 25
Momentus Regains Compliance with Nasdaq Minimum Stockholders' Equity Requirement On June 24, 2025, Momentus Inc. (the Company") announced that it has received a letter from the Nasdaq Hearings Panel (the Panel") of The Nasdaq Stock Market (Nasdaq") providing written confirmation that the Company has regained compliance with the minimum stockholders' equity requirement for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(b)(1) (the Equity Rule"). As previously reported, on January 12, 2025, the Company had received a letter issued by the Panel granting the Company's request to continue its listing on The Nasdaq Capital Market until April 15, 2025, while the Company executed its plan to regain compliance with the Equity Rule. The Company had also previously reported that as of April 15, 2025, as a result of the execution of its compliance plan, the Company believed that it had satisfied the Equity Rule, subject to the receipt of formal confirmation from the Panel which has now been provided. Annonce • Jun 18
Momentus Inc. has filed a Follow-on Equity Offering in the amount of $5 million. Momentus Inc. has filed a Follow-on Equity Offering in the amount of $5 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 3,875,968
Price\Range: $1.29
Discount Per Security: $0.0903
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 3,875,968 Annonce • Apr 15
Momentus Inc., Annual General Meeting, May 19, 2025 Momentus Inc., Annual General Meeting, May 19, 2025. Annonce • Apr 02
Momentus Inc. announced delayed annual 10-K filing On 04/01/2025, Momentus Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annonce • Jan 29
Momentus Inc. Announces Resignation of Paul Ney, Momentus Chief Legal Officer and Corporate Secretary Momentus Inc. announced Paul Ney, Momentus Chief Legal Officer and Corporate Secretary, has resigned from his role effective January 27, 2025. Mr. Ney has accepted a position as the Deputy Counsel to the President for National Security Affairs and National Security Council Legal Advisor at the White House in the Trump Administration. Momentus will announce a successor for Mr. Ney at a later date. Annonce • Jan 22
Momentus Inc. has filed a Follow-on Equity Offering. Momentus Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Warrants
Security Type: Equity Warrant
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant Annonce • Jan 17
Momentus Regains Compliance with the Requirement to Maintain A Minimum Bid Price On January 13, 2025, Momentus Inc., received a letter issued by Nasdaq Hearings Panel (the Panel") granting the Company's request to continue its listing on The Nasdaq Capital Market (Nasdaq") until April 15, 2025 while the Company executes its plan to regain compliance with the requirements of Nasdaq Listing Rule 5550(b). Additionally, the Panel confirmed that the Company has regained compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set in Nasdaq Listing Rule 5550(a)(2), as a result of the reverse stock split the Company effected on December 12, 2024. If the Company does not come into compliance with Nasdaq Listing Rule 5550(b) by April 15, 2025, the Company's common stock will be subject to delisting from The Nasdaq Capital Market. Annonce • Dec 20
Momentus Inc. has completed a Follow-on Equity Offering in the amount of $4.959994 million. Momentus Inc. has completed a Follow-on Equity Offering in the amount of $4.959994 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 230,000
Price\Range: $6.2
Discount Per Security: $0.434
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 570,000
Price\Range: $6.19999
Discount Per Security: $0.43399
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 800,000 Annonce • Oct 25
Momentus Receives Non-Compliance Notice from Nasdaq Regarding Minimum Stockholders’ Equity On October 17, 2024, Momentus Inc., received notice from the Listing Qualifications Department of The Nasdaq Capital Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with the requirements of Nasdaq Listing Rule 5550(b) as a result of not having a minimum of $2,500,000 in stockholders’ equity for continued listing as of June 30, 2024, a market value of listed securities of at least $35 million, or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. While the Notice has no immediate effect on the listing of the Company’s shares on Nasdaq, as previously disclosed on September 26, 2024, the Company previously received deficiency notifications from Nasdaq that resulted in the Company requesting a hearing before a Nasdaq Hearing Panel (“Panel”) to appeal Nasdaq’s delisting determination. The Company has requested such a hearing and intends to also address this latest notice of deficiency at the hearing. Additionally, the Company recently filed its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, resolving two of the deficiencies previously identified by Nasdaq. However, if the Panel does not accept the Company’s plan to regain compliance with the Nasdaq listing rules, the Company’s common stock will be subject to delisting from Nasdaq. Annonce • Sep 28
Momentus Receives Nasdaq Notice of A Delisting Determination Momentus Inc. (“Momentus” or the “Company”) announced that it received notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Capital Market LLC (“Nasdaq”) indicating the Company’s continued non-compliance with the minimum bid price requirement, pursuant to Listing Rule 5550(a)(2). As previously reported, on March 27, 2024, the Company received a letter (the “Bid Price Deficiency Notice”) from Nasdaq notifying the Company that, because the closing bid price for its common stock has been below $1.00 per share for 30 consecutive business days, it no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), and Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. Additionally, the Notice states that since the Company has not yet filed its Form 10-Qs for the periods ended March 31, 2024 and June 30, 2024, it no longer complies with Listing Rule 5250(c)(1), and that these matters individually serve as separate and additional basis for delisting the Company’s securities from The Nasdaq Capital Market. The Company intends to request a hearing before a Nasdaq Hearings Panel, which will automatically stay the suspension of trading in the Company’s securities for a period of 15 days from the date of the request. The Company also intends to seek an extended stay pending the hearing, although no assurance can be provided that such an extension would be granted. The Company is working to evidence compliance with all applicable requirements for continued listing on the Nasdaq Capital Market and intends to submit a plan to that effect to the Panel as part of the hearing process; however, there can be no assurance the Panel will grant any request for continued listing or that the Company will be able to regain compliance with the applicable listing criteria within the period of time that may be granted by the Panel. The Notices have no immediate effect on the listing or trading of the Company’s common stock and the common stock will continue to trade on the Nasdaq Capital Market under the symbol “MNTS". Annonce • Sep 17
Momentus Inc. announced that it expects to receive $2.75 million in funding Momentus Inc. entered into a securities purchase agreement to issue 5,000,000 Class A common stock at a price of $0.55 per share for gross proceeds of $2,750,000, and class A common warrant to purchase 10,000,000 shares of Class A Stock and, class B common warrant to purchase 5,000,000 shares of Class A Stock on September 15, 2024. The class A and class B common warrants will have an exercise price of $0.575. The closing of the offering is expected to occur on or about September 17, 2024. The Company paid the Placement Agent a cash fee of 7% of the aggregate gross proceeds and also agreed to issue to the Placement Agent warrants to purchase 500,000 shares of Class A Stock at an exercise price of $0.6325, which are exercisable immediately. Annonce • Aug 16
Momentus Inc. announced delayed 10-Q filing On 08/15/2024, Momentus Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • Jun 23
Nasdaq Hearings Panel Grants Momentus' Request for Continued Listing Subject to the Company Filing its Form 10-Q by October 14, 2024 As previously disclosed in a Current Report on Form 8-K filed on May 30, 2024, Momentus Inc. (the ‘Company’) received an additional notice from The Nasdaq Stock Market LLC (‘Nasdaq’) indicating that the Company was delinquent in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the ‘Form 10-Q’) and was therefore not in compliance with Nasdaq Listing Rule 5250(c)(1). Following submission of the Company’s plan to cure such delinquency, on June 18, 2024, the Nasdaq Hearings Panel granted the Company’s request for continued listing subject to the Company filing its Form 10-Q by October 14, 2024. The Company plans to file the Form 10-Q as soon as practicable; however, no assurance can be given as to the definitive date on which such report will be filed. Annonce • May 31
Momentus Receives Nasdaq Deficiency Notification Regarding Delayed Form 10-Q Momentus Inc. (Momentus" or the Company") announced that it received notice (the Notice") from the Nasdaq Capital Market LLC (Nasdaq") notifying the Company that it is not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed with the U.S. Securities and Exchange Commission (the Commission") the Company's Form 10-Q for the period ended March 31, 2024, and because the Company has not filed its Form 10-K for the year ended December 31, 2023. This notification has no immediate effect on the listing of the Company's shares on Nasdaq. However, if the Company fails to timely regain compliance with the Nasdaq Listing Rule, the Company's common stock will be subject to delisting from Nasdaq. The Company may submit a plan to regain compliance with these requirements by June 17, 2024. Any staff exception to allow the Company to regain compliance, if granted, will be limited to a maximum of 180 calendar days from the Form 10-K's due date, or until October 14, 2024. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The Company is working diligently and expects to file the Form 10-K and the Form 10-Q within the 60-day period described above, which would eliminate the need for the Company to submit a formal plan to regain compliance. Annonce • May 18
Momentus Inc. announced delayed 10-Q filing On 05/17/2024, Momentus Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • May 09
Momentus Inc., Annual General Meeting, Jun 25, 2024 Momentus Inc., Annual General Meeting, Jun 25, 2024. Annonce • Apr 22
Momentus Receives Nasdaq Deficiency Notification Regarding Delayed Form 10-K Momentus Inc. (Momentus" or the Company") announced that it received formal notice (the Notice") from the Nasdaq Capital Market LLC (Nasdaq") notifying the Company that it is not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed with the U.S. Securities and Exchange Commission (the Commission") its Form 10-K for the year ended December 31, 2023 (the Form 10-K"). The Notice has no immediate impact on the listing of the Company's common stock on Nasdaq, and the Company's listing remains fully effective. The Company has 60 calendar days from the date of the Notice, or until June 17, 2024, to file the Form 10-K or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule 5250(c)(1). If the Company submits a plan to Nasdaq and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the due date of the filing of the Form 10-K, or until October 14, 2024, to regain compliance. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. The Company's objective is to regain compliance with the listing requirement, and the Company currently intends to file the Form 10-K with the Commission as soon as it completes the preparation and review of its financial statements for the year ended December 31, 2023. Annonce • Apr 03
Momentus Inc. announced delayed annual 10-K filing On 04/02/2024, Momentus Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annonce • Mar 30
Momentus Receives Deficiency Letter from the Nasdaq Capital Market LLC Regarding Non-Compliance with the Minimum Bid Requirement for Continued Listing on Nasdaq, as Set in Nasdaq Listing Rule 5550(a)(2) On March 27, 2024, Momentus Inc. (the ‘Company’) received a deficiency letter (the ‘Notice’) from the Nasdaq Capital Market LLC (‘Nasdaq’) notifying the Company that, based upon the closing bid price of the Company’s Class A common stock, par value $0.00001 per share (the ‘Common Stock’), for the last 30 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set in Nasdaq Listing Rule 5550(a)(2) (the ‘Minimum Bid Requirement’). The Notice has no immediate impact on the listing of the Company’s common stock on Nasdaq, and the Company’s listing remains fully effective. The Company’s objective is to regain compliance with the listing requirement and it is pursuing actions aimed at growing the business and increasing the value of the Company and its share price. The Company is provided a compliance period of 180 calendar days from the date of the Notice, or until September 23, 2024, to regain compliance with Nasdaq Listing Rule 5550(a)(2). If at any time before September 23, 2024, the closing bid price of the Company’s Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, subject to Nasdaq’s discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H), Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Requirement, and the matter would be resolved. If the Company does not regain compliance with the Minimum Bid Requirement during the initial 180 calendar day period, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. The Company will continue to monitor the closing bid price of its Common Stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance periods. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company’s Common Stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. The Company intends to actively monitor the closing bid price of the Common Stock and will evaluate available options to regain compliance with the Minimum Bid Requirement. However, there can be no assurance that the Company will regain compliance with the Minimum Bid Requirement during the 180-day compliance period, secure a second period of 180 days to regain compliance or maintain compliance with the other Nasdaq listing requirements. If the Common Stock ceases to be listed for trading on Nasdaq, the Company would expect that the Common Stock would be traded on one of the three tiered marketplaces of the OTC Markets Group. Annonce • Mar 26
Momentus Inc. Announces Chief Financial Officer Changes Momentus Inc. welcomes new interim Chief Financial Officer (CFO) Lon Ensler to the Company. Ensler will assume the role of interim CFO on April 2, 2024 following the departure of the Company’s incumbent Chief Financial Officer, Eric Williams. Lon Ensler brings over 30 years of financial leadership and experience to the company. His diverse background spans both established corporations and dynamic startups, making him an excellent fit to enable the company’s growth trajectory. Company’ current Chief Financial Officer, Eric Williams, has resigned from his role effective the end of day April 1, 2024. Williams assumed the role as company’ Chief Financial Officer on May 11, 2023. In this role, he led the Company’s accounting and financial planning and analysis group. Under his guidance, the company completed several transactions to raise capital, engaged with public markets investors, and prepared for future milestones. Annonce • Feb 14
Momentus Receives an Approval Letter from Nasdaq to Transfer the Listing of its Class A Common Stock from the Nasdaq Global Market to the Nasdaq Capital Market On February 7, 2024, Momentus Inc. (the ‘Company’) received an approval letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that the Nasdaq staff approved the Company’s application to transfer the listing of its Class A common stock (the ‘Common Stock’) and warrants from the Nasdaq Global Market to the Nasdaq Capital Market. On this basis, the previous listing deficiency regarding minimum stockholder’s equity will be closed. The Common Stock and the warrants will continue to trade under the symbols ‘MNTS’ and ‘MNTSW,’ respectively, and the trading of the Common Stock and the warrants will not be affected by the transfer. Annonce • Feb 08
Prime Movers Lab Provides Information to Shareholders of Momentus On February 7, 2024, Prime Movers Lab LLC announced that a statement is being filed to report the fact that as of September 27, 2023, each of Prime Movers ceased to be the beneficial owner of more than five percent of Momentus Inc.’s class of securities. Annonce • Jan 18
Momentus Inc. has completed a Follow-on Equity Offering in the amount of $4.000367 million. Momentus Inc. has completed a Follow-on Equity Offering in the amount of $4.000367 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 900,000
Price\Range: $1.085
Discount Per Security: $0.07595
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 2,787,000
Price\Range: $1.08499
Discount Per Security: $0.075949
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 3,687,000
Transaction Features: Registered Direct Offering Annonce • Jan 10
Momentus Receives Non-Compliance Notice from Nasdaq On January 3, 2024, Momentus Inc. (the “Company”) received a deficiency letter (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company failed to hold an annual meeting of stockholders within 12 months after its fiscal year ended December 31, 2022, as required by Nasdaq Listing Rule 5620(a) (the “Annual Meeting Requirement”). The Notice has no immediate impact on the listing of the Company’s common stock on Nasdaq, and the Company’s listing remains fully effective. Under Nasdaq Rules, the Company has 45 calendar days, or until February 20, 2024, to submit a plan to regain compliance with the Annual Meeting Requirement (the “Compliance Plan”). If the Compliance Plan is accepted, Nasdaq can provide the Company an extension of up to 180 days from the date of notice to cure such listing deficiency. There can be no assurance that Nasdaq will accept the Compliance Plan, and if Nasdaq does not accept the Compliance Plan, the Company will have the opportunity to appeal the determination to the Nasdaq Hearings Panel which has the authority to grant the Company an additional extension of time of up to 180 calendar days to regain compliance. If the Company fails to regain compliance with these requirements or to submit an acceptable Compliance Plan to Nasdaq within the time allotted, the Company will be subject to delisting from the Nasdaq Global Select Market. If the common stock ceases to be listed for trading on Nasdaq, the Company would expect the common stock would be traded on one of the three tiered marketplaces of the OTC Market Groups. Annonce • Dec 06
Momentus Inc. Announces an Update on Its Latest Mission Momentus Inc. announced an update on its latest mission that launched on the SpaceX Transporter-9 mission on November 11. On this mission, the company used a third-party deployer system to deliver payloads into orbit. The company supported five payloads for four customers. Since launch, the Company has confirmed the deployment of the Hello Test 1 and 2 satellites for Hello Space. The company cannot confirm the deployment of the remaining three satellites for three other customers and based on the results of a detailed investigation undertaken, the company does not believe those satellites were released from the third-party deployer system. The company appreciates and thanks SpaceX for its work and collaboration in providing information necessary to assist ongoing investigation into the likely root cause of the issues encountered. The company has also been in regular communication with customers. Annonce • Nov 29
Momentus Receives Deficiency Letter from Nasdaq Regarding Non-Compliance with the Minimum Stockholders’ Equity Requirement for Continued Listing Set Forth in Nasdaq Listing Rule 5450(b)(1)(A) On November 21, 2023, Momentus Inc. (the ‘Company’) received a deficiency letter (the ‘Notice’) from the Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing set forth in Nasdaq Listing Rule 5450(b)(1)(A). Nasdaq Listing Rule 5450(b)(1)(A) requires listed companies to maintain stockholders’ equity of at least $10,000,000 (the ‘Stockholders’ Equity Requirement’). The Staff further indicated that, as of the date of the Notice, the Company did not comply with certain requirements under the alternative standards set forth in Nasdaq Listing Rules 5450(b)(2) and 5450(b)(3) for continued listing on the Nasdaq Global Select Market. The Notice has no immediate impact on the listing of the Company’s common stock on Nasdaq, and the Company’s listing remains fully effective. Under Nasdaq Rules, the Company has 45 calendar days, or until January 5, 2024, to submit a plan to regain compliance (the ‘Compliance Plan’). If the Compliance Plan is accepted, Nasdaq can provide the Company an extension of up to 180 days from the date of notice to cure such listing deficiency. There can be no assurance that Nasdaq will accept the Compliance Plan, and if Nasdaq does not accept the Compliance Plan, the Company will have the opportunity to appeal the determination to the Nasdaq Hearings Panel which has the authority to grant the Company an additional extension of time of up to 180 calendar days to regain compliance. If the Company fails to regain compliance with these requirements or to submit an acceptable Compliance Plan to Nasdaq within the time allotted, the Company will be subject to delisting from the Nasdaq Global Select Market. The Company intends to submit the Compliance Plan on or before January 5, 2024. If the Common Stock ceases to be listed for trading on Nasdaq, the Company would expect that the Common Stock would be traded on one of the three tiered marketplaces of the OTC Markets Group. New Risk • Nov 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$63m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$63m free cash flow). Share price has been highly volatile over the past 3 months (38% average weekly change). Earnings have declined by 2.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (219% increase in shares outstanding). Minor Risks Revenue is less than US$5m (US$2.2m revenue). Market cap is less than US$100m (US$16.8m market cap). Annonce • Nov 15
Momentus Inc. Continues Testing of Sustainable Spacecraft Engine and New Type of Solar Array Momentus Inc. continues to advance in-space testing of its Microwave Electrothermal Thruster (MET) and recently completed initial in-space testing of its Tape Spring Solar Array (TASSA). The MET is the Vigoride Orbital Service Vehicle's (OSV) primary propulsion method that relies on solar power and uses water as a propellant. The Vigoride OSV has redundant systems to improve reliability, including two MET thrusters that can be operated independently. The Vigoride OS Vigoride OSV will typically operate using one thruster, however, having two thrusters on the spacecraft enhances reliability and if additional thrust is needed to support faster movement of satellites over substantial distances or to new orbits, firing both thrusters enables the spacecraft to travel faster and farther. Momentus successfully completed the initial on-orbit testing sequence of the MET earlier this year and then paused testing to prioritize providing hosted payload services to Caltech for its Space Solar Power Demonstration program. The MET technology has achieved firing times that are consistent with the operational times required for Momentus missions. Its non-toxic water propellant is intended to enable simpler, safer, and more cost-efficient operations preparing the spacecraft for launch on Earth and in operation in space. Initial In-Space TASSA Testing Complete: Momentus' TASSA is a developmental payload onboard the Vigoride-6 OSV that utilizes flexible solar cell technology, allowing the solar array to be extended and retract like a tape measure, using its concave shape to provide rigidity. Momentus was recently notified that its application was approved to issue the company a patent for technology behind TASSA. TASSA is designed to be deployed and retract on orbit numerous times, is configurable to varying lengths based on power requirements, and utilizes thin film solar cells that are radiation resistant and self-annealing. To date, the mission was able to demonstrate the majority of the major performance requirements, including boomoke deployment, initial roll out deployment, thin film flexible solar cell power generation, low-cost slip ring performance, and retraction, providing confidence as well as identifying areas for improvement as Momentus continues development of this technology. Once TASSA is fully flight qualified, Momentus estimates that replacing Vigoride's current solar array with TASSA will substantially reduce the overall recurring production cost of its spacecraft. Since August, Momentus has signed six commercial contracts and raised more than $16 million in gross proceeds. The Company is currently booking customers for 2024 missions. Annonce • Nov 04
Momentus Inc. Completes Vibration Testing of Vigoride-7 Orbital Service Vehicle Momentus Inc. announced that it has completed vibration testing of its Vigoride Orbital Service Vehicle scheduled to launch on the SpaceX Transporter-10 mission no earlier than March 2024. The vibration testing conducted at Experior Laboratories exposed the Vigoride spacecraft to the forces and environmental factors it may experience during launch. Momentus' next flight will launch on the SpaceX Transorter-9 mission scheduled for no earlier than November 2023. Momentus will use a plate deployer to provide transportation services for five payloads: The AMAN-1 Earth Observation satellite for SatRev of Poland. The satellite can also be used for other services such as land surveys, precision agriculture, weather, environmental, and smart cities. The JINJUSat-1 satellite for CONTEC Co. of the Republic of Korea. cameras mounted on the satellite are carrying out a mission to take pictures of the Earth. The Picacho satellite for Lunasonde - a U.S. sub-surface imaging company with the goal of making underground resources - like water and minerals - easier to find. The Hello Test 1 and 2 satellites for Hello Space of Turkey as part of their "Hello for IoT" mission. The two PocketQubes are part of Hello Space's broader mission to enable worldwide IoT ecosystems and end-to-data data services for various industries. Hello Test 1 and 2 are Hello Space's second and third satellites launched into orbit. Momentus has executed three orbital missions to date, deployed 15 customer payloads, and provided hosted payload services. The Company is currently booking rideshare and hosted payload customers on the SpaceX Transporter-11 mission targeted for no earlier than June 2024 and the SpaceX Transporter-12 mission targeted for no earlier than October 2024. Momentus provides its transportation and in-space services on either a deployer mounted directly to a Rideshare modular plate or a Vigoride Orbital Service Vehicle depending on customer mission requirements. Momentus also offers its M-1000 satellite bus for customized and dedicated flights. Email to start the reservation process. Annonce • Oct 31
Momentus Inc. to Report Q3, 2023 Results on Nov 14, 2023 Momentus Inc. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Annonce • Oct 06
Momentus Inc. has completed a Follow-on Equity Offering in the amount of $4 million. Momentus Inc. has completed a Follow-on Equity Offering in the amount of $4 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 2,000,000
Price\Range: $2
Discount Per Security: $0.14
Security Name: Pre Funded Warrants
Security Type: Equity Warrant
Securities Offered: 290,000
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 1,710,000
Transaction Features: Registered Direct Offering New Risk • Oct 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 2.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Market cap is less than US$10m (US$2.96m market cap). Minor Risk Revenue is less than US$5m (US$2.0m revenue). Annonce • Sep 11
Momentus Regains Compliance with Nasdaq Minimum Bid Price Momentus Inc. announced that it has received formal notice from the Listing Qualifications staff of The Nasdaq Stock Market LLC indicating that Momentus has regained compliance with the minimum bid price requirement set in Nasdaq Listing Rule 5450(a)(1). To regain compliance with the Rule, the Company’s common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days, which was achieved on September 7, 2023. As a result, the listing matter has been closed. Annonce • Sep 08
Momentus Inc. announced that it expects to receive $5 million in funding Momentus Inc. announced that it has entered into a securities purchase agreement to issue an aggregate of 210,000 class A common stock at a price of $7.43 per share for the gross proceeds of $1.5603 million, pre funded warrants at a price of $7.42999 per warrant, series warrants and series B warrants for the total gross proceeds of $5 million on September 7, 2023. The pre funded warrants will be exercisable into 462,948 shares of Class A Stock, at an exercise price of $0.00001 per share. The warrants have an exercise price per share of class A stock equal to $7.18 per share. The series A warrants are exercisable immediately and will expire September 11, 2028. The series B warrants are exercisable immediately and will expire September 11, 2024. The transaction is expected to close on September 11, 2023. Annonce • Aug 01
Momentus Inc. to Report Q2, 2023 Results on Aug 14, 2023 Momentus Inc. announced that they will report Q2, 2023 results After-Market on Aug 14, 2023 Annonce • Jul 29
Momentus Inc. Targets Next Flight No Earlier Than November 2023 Aboard SpaceX Transporter-9 Mission Momentus Inc. announced its next flight is targeted for no earlier than November 2023 aboard the SpaceX Transporter-9 mission. During this mission, Momentus will use a deployer to place three satellites into Low-Earth Orbit for three different customers: The AMAN-1 Earth Observation satellite will be deployed for SatRev. The satellite can also be used for other services such as land survey, precision agriculture, weather, environmental and smart cities. The JINJUSat-1 satellite will be deployed for CONTEC Co. of the Republic of Korea. JINJUSat-1is spearheaded by three entities: Jinju City, Korea Testing Laboratory, and Gyeongsang National University. Once in orbit, cameras mounted on the satellite will carry out a mission to take pictures of the Earth. The Picacho satellite will be deployed for Lunasonde - a U.S. sub-surface imaging company with the goal of making underground resources – like water and minerals – easier to find. The Picacho CubeSat is a technology demonstration of Lunasonde’s sensors. It will measure the power spectral density of low-frequency radio signals in the ionosphere, which will help inform designs for the company’s future satellites. Additionally, Momentus now plans to launch its Vigoride-7 OSV, originally scheduled for launch in October 2023, on SpaceX’s Transporter-10 mission targeted for no earlier than February 2024. On the Vigoride-7 mission, Momentus will aim to deploy several customer satellites in Low-Earth Orbit and provide services to a hosted payload. The Company will also release a target satellite and maneuver the OSV into proximity with the target satellite for a Remote Proximity Operations demonstration. The revised mission plans will enable Momentus to launch Vigoride-7 with a fuller load of payloads for deployment in LEO with better mission economics, while still meeting the needs of customers requiring orbital delivery in 2023. Annonce • Jun 03
Momentus Inc., Annual General Meeting, Jun 21, 2023 Momentus Inc., Annual General Meeting, Jun 21, 2023, at 12:00 Pacific Daylight. Annonce • May 04
Momentus Inc. to Report Q1, 2023 Results on May 11, 2023 Momentus Inc. announced that they will report Q1, 2023 results After-Market on May 11, 2023 Reported Earnings • Mar 09
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: US$1.17 loss per share (down from US$1.85 profit in FY 2021). Net loss: US$95.4m (down 179% from profit in FY 2021). Revenue missed analyst estimates by 38%. Earnings per share (EPS) also missed analyst estimates by 4.2%. Revenue is forecast to grow 107% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Aerospace & Defense industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Annonce • Feb 10
Prime Movers Lab Engages in Discussions with Momentus On February 9, 2023, Prime Movers Lab announced that it has previously engaged with members of Momentus Inc.’s Board of Directors and management team to share its concerns with the trajectory of the Company. Prime Movers Lab stated that it has appreciated the Board’s willingness to engage in meaningful discussions to date. Prime Movers Lab also stated that in communications with management and the Board of the Company, it has requested that the Company immediately appoint, subject to customary onboarding procedures, Dakin Sloss to the Board to ensure that there is a direct stockholder representative in the boardroom and requested that the Company provide certain information regarding the Company’s capital expenditures, operational expenditures, plans to raise capital and growth forecasts. Prime Movers Lab added that it hopes to continue to engage constructively with the Board and management, but it intends to closely monitor its investment in the Company and would continue to evaluate all potential courses of action to protect its interests and the interest of all stockholders of the Company. Annonce • Feb 07
Momentus Inc. Provides Momentus Vigoride-5 Status Update Momentus Inc. announced that its Vigoride-5 Orbital Service Vehicle launched on the SpaceX Transporter-6 mission on January 3 continues to be in good health and that the team is continuing to fully commission the vehicle in preparation for further on-orbit operations. Recent activities have focused on tuning the performance of the attitude determination system and beginning pressurization of the vehicle’s propulsion system. The vehicle’s power and temperatures continue to be within the nominal expected ranges. Annonce • Jan 05
Momentus Inc. Launches Vigoride Orbital Service Vehicle on Spacex Transporter-6 Mission Momentus Inc. launched its second demonstration flight of the Vigoride Orbital Service Vehicle to low-Earth orbit aboard the SpaceX Transporter-6 mission. Momentus established contact with its Vigoride vehicle on its first orbital pass and confirmed that both solar arrays are deployed, and the vehicle is generating power and charging its batteries. The Vigoride OSV is designed to support a range of transportation and in-space infrastructure services. A key part of the Vigoride spacecraft is the Microwave Electrothermal Thruster that is designed to use water as a propellant. The MET is designed to produce thrust by expelling extremely hot gases through a rocket nozzle. Unlike a conventional chemical rocket engine, which creates thrust through a chemical reaction, the MET is designed to create a plasma and thrust using microwave energy. Using the MET, Momentus aims to offer cost-effective, efficient, safe, and environmentally friendly propulsion to meet the demands for in-space transportation and infrastructure services. Priorities for this flight include hosting Caltech’s Space-based Solar Power Project payload, deploying a satellite with the Qosmosys Zeus-1 payload, and testing Vigoride’s performance in space, including its MET system. Momentus launched its inaugural mission in May 2022. The Company deployed eight customer satellites during that mission for FOSSA Systems, Orbit NTNU and Bronco Space at the California State Polytechnic University. Major Estimate Revision • Dec 15
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$3.91m to US$7.31m. EPS estimate reaffirmed at -US$1.10 per share. Aerospace & Defense industry in the US expected to see average net income growth of 24% next year. Consensus price target down from US$3.50 to US$2.50. Share price fell 15% to US$0.88 over the past week. Annonce • Dec 03
Momentus Inc. Announces Resignation of Jikun Kim as Chief Financial Officer, Effective January 6, 2023 Momentus Inc. announced that Jikun Kim, chief financial officer, will resign from his role effective January 6, 2023. The company will announce a successor for Kim at a later date. Kim joined the company in September 2020 as chief financial officer. In this role, he led the company’s accounting and financial planning and analysis group. Price Target Changed • Nov 16
Price target decreased to US$3.50 Down from US$8.00, the current price target is an average from 2 analysts. New target price is 138% above last closing price of US$1.47. Stock is down 86% over the past year. The company is forecast to post a net loss per share of US$1.10 compared to earnings per share of US$1.85 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Kimberly A. Reed is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Nov 11
Momentus Inc. Announces Retirement of Dawn Harms as Chief Revenue Officer Momentus Inc. announced that Dawn Harms, Chief Revenue Officer, will retire effective Dec. 31, 2022. Harms joined Momentus in 2019 as Chief Revenue Officer, leading the Company’s commercial sales strategy. From January 2021 to August 2021, she served as interim Chief Executive Officer, and she returned to the CRO role at the conclusion of her interim CEO tenure. The company plans to announce a successor to Harms later 2022. Reported Earnings • Nov 10
Third quarter 2022 earnings released: US$0.26 loss per share (vs US$0.093 loss in 3Q 2021) Third quarter 2022 results: US$0.26 loss per share (further deteriorated from US$0.093 loss in 3Q 2021). Net loss: US$21.3m (loss widened 279% from 3Q 2021). Revenue is forecast to grow 71% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Aerospace & Defense industry in the US. Annonce • Nov 02
Momentus Inc. to Report Q3, 2022 Results on Nov 08, 2022 Momentus Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 08, 2022 Annonce • Nov 01
Momentus Inc. Vigoride Orbital Service Vehicle Completes TVAC Testing Ahead of Launch with SpaceX Momentus Inc. has completed Thermal Vacuum (TVAC) testing of its Vigoride Orbital Service Vehicle scheduled to fly on the SpaceX Transporter-6 mission in December. Thermal vacuum testing allows for the simulation of space conditions, including the temperature and altitude that the Vigoride spacecraft will experience during its mission. The latest Vigoride vehicle design has been modified from the version that flew earlier this year. The updated design increases payload capacity and reduces launch loads transmitted to Momentus' customers. This version of Vigoride also introduces some modularity – particularly with the propulsion system, which should allow Momentus to more easily tailor the vehicle for each mission's unique transfer profile. Momentus’ second demonstration mission priorities include delivering customer payloads to orbit for Caltech and Qosmosys, and testing Vigoride’s performance in space, particularly related to its MET propulsion. The MET uses water as a propellant and produces thrust by expelling very hot gases through a rocket nozzle. However, unlike a conventional chemical rocket engine, which creates heat through a chemical reaction, the MET heats propellant using microwave energy. The non-toxic water propellant enables simpler, safer, and less expensive operations on Earth, and more sustainable in-space services. Annonce • Oct 19
Momentus Inc. Completes Comprehensive Ground Testing of Solar Arrays Ahead of Next Mission Momentus Inc. has completed comprehensive ground testing of the solar arrays that will support its second demonstration mission scheduled to launch on the SpaceX Transporter-6 mission in December 2022. The test campaign included functional, performance and environmental testing for sub-system components and the fully integrated solar arrays on the Vigoride Orbital Service Vehicle. The solar arrays are designed to deploy from Vigoride shortly after separation from the launch vehicle and track the sun throughout the mission to generate power. Momentus plans to fly the next generation of its Vigoride Orbital Service Vehicle on the SpaceX Transporter-6 mission. The vehicle design has been modified to increase payload capacity and reduce launch loads transmitted to Momentus' customers. This version of Vigoride also introduces some modularity – particularly with the propulsion system, which should allow Momentus to more easily tailor the vehicle for each mission's unique transfer profile. Annonce • Sep 21
Momentus Inc. Completes Vibration Testing of Vigoride Orbital Service Vehicle Momentus Inc. (Momentus or the Company) announced that it has completed vibration testing of its Vigoride Orbital Service Vehicle scheduled to launch on the SpaceX Transporter-6 mission in December 2022. The vibration testing conducted at Experior Laboratories exposed the Vigoride spacecraft to the forces and environmental factors it may experience during launch. The December flight will mark Momentus’ second demonstration mission. The vehicle will carry payloads for customers Caltech and Qosmosys. In addition to deploying customer payloads, Momentus will aim to comprehensively test Vigoride in space, including its water-based propellant propulsion system. Recent Insider Transactions Derivative • Aug 24
Chairman exercised options and sold US$146k worth of stock On the 20th of August, John Rood exercised options to acquire 78k shares at no cost and sold these for an average price of US$1.88 per share. This trade did not impact their existing holding. For the year to December 2021, John's total compensation was 3% salary and 97% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2021, John has owned 29.25k shares directly. Company insiders have collectively bought US$945k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 12
Second quarter 2022 earnings released: US$0.28 loss per share (vs US$1.25 profit in 2Q 2021) Second quarter 2022 results: US$0.28 loss per share (down from US$1.25 profit in 2Q 2021). Net loss: US$22.9m (down 136% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3,176%, compared to a 19% growth forecast for the industry in the US. Annonce • Aug 04
Momentus Inc. to Report Q2, 2022 Results on Aug 11, 2022 Momentus Inc. announced that they will report Q2, 2022 results Pre-Market on Aug 11, 2022 Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 17% share price gain to US$1.97, the stock trades at a trailing P/E ratio of 5.5x. Average forward P/E is 18x in the Aerospace & Defense industry in the US. Total loss to shareholders of 80% over the past year. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$1.81, the stock trades at a trailing P/E ratio of 5.1x. Average forward P/E is 18x in the Aerospace & Defense industry in the US. Total loss to shareholders of 86% over the past year.