Momentus Inc.

Listed Company

MNTSWCIK 0001781162NasdaqNon-AcceleratedSmaller ReportingGuided Missiles & Space Vehicles & PartsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.10M

Net Income

$-30.50M

Total Assets

$40.32M

Equity

$17.14M

Shares Out

5.73M

Op. Cash Flow

$-23.30M

Business

Momentus Inc. is a U.S. commercial space company that designs, builds, and operates satellites, satellite buses, orbital service vehicles (OSVs) and related in‑orbit infrastructure and transportation services. Its primary products and technologies include Vigoride OSVs and variants (M-500, M-1000), modular satellite buses, the Tape Spring Solar Array (TASSA), and the Microwave Electrothermal Thruster (MET), alongside hosted payload offerings. Key business segments include OSV-based space transportation and last‑mile delivery, satellite and constellation bus production, satellite technologies, hosted payloads, and in‑orbit servicing. The company serves government and commercial satellite operators globally, distributing services through partnerships with launch providers and ride‑share integration onto third‑party rockets.

Summary from filing dated 2025-04-01

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Service revenue	1	2	3	300,000	330,000
Cost of revenue	2,000	66,000	855,000	26,000	−135,000
Gross profit	1	2	2	273,000	465,000
Research and development expenses	9	10	34	42	51
Selling, general and administrative expenses	19	22	36	50	49
Total operating expenses	28	32	70	92	100
Loss from operations	−27	−30	−68	−91	−100
Realized loss on disposal of assets	0	−188,000	−17,000	−168,000	−17,000
Interest income	57,000	25,000	1	522,000	2,000
Interest expense	−677,000	−395,000	−2	—	—
Loss on debt extinguishment	−3	−4	0	—	—
Change in fair value of convertible debt carried at fair value	−835,000	0	—	—	—
Change in fair value of warrant liability	2	0	561,000	5	37
Other expense	−1	−447,000	−180,000	54,000	−5
Total other income (expense), net	−3	−5	−748,000	−4	220
Net loss	−31	−35	−69	−95	121
Deemed dividend on downround of warrants	−117,000	0	—	—	—
Net loss attributable to common stockholders	−31	−35	—	—	—
Net loss attributable to common stockholders	−31	−35	—	—	—
Net loss per share, basic (in dollars per share)	−49.1	−414.01	−323.96	−58.53	1.85
Net loss per share, diluted (in dollars per share)	−49.1	−414.01	−323.96	−58.53	1.7
Weighted average shares outstanding, basic (in shares)	622,937	84,409	212,744	2	65
Weighted average shares outstanding, fully diluted (in shares)	622,937	84,409	212,744	2	71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	13	2	2	61	160
Restricted cash, current	100,000	0	0	1	197,000
Accounts receivable	0	879,000	0	—	—
Insurance receivable	100,000	408,000	100,000	4	0
Prepaids and other current assets	9	2	9	10	9
Total current assets	22	5	11	76	170
Property, machinery and equipment, net	953,000	2	3	4	5
Intangible assets, net	201,000	253,000	341,000	337,000	349,000
Operating right-of-use asset	8	347,000	5	6	8
Other non-current assets	9	3	602,000	5	3
Total assets	40	10	21	92	186
Accounts payable	4	6	3	2	2
Accrued liabilities	2	3	5	8	10
Loan payable, current	3	5	2	12	21
Contract liabilities, current	4	345,000	0	2	0
Operating lease liability, current	836,000	685,000	1	1	1
Litigation settlement contingency	802,000	420,000	0	9	0
Other current liabilities	541,000	1,000	9,000	27,000	5
Total current liabilities	16	15	11	43	39
Contract liabilities, non-current	100,000	2	1	1	2
Warrant liability	3,000	3,000	3,000	564,000	6
Operating lease liability, non-current	7	333,000	5	6	7
Other non-current liabilities	0	515,000	489,000	465,000	483,000
Total non-current liabilities	7	3	6	11	15
Total liabilities	23	18	17	54	54
Commitments and Contingencies (Note 12)	—	—	—	—	—
Series A preferred stock, $0.00001 par value; 20,000,000 shares authorized and 547,408 issued and outstanding as of December 31, 2025; 20,000,000 shares authorized and 0 issued and outstanding as of December 31, 2024	0	0	0	0	—
Additional paid-in capital	456	400	376	343	341
Accumulated deficit	−439	−408	−373	−304	−209
Total stockholders equity (deficit)	17	−8	3	39	132
Total liabilities and stockholders equity (deficit)	40	10	21	92	186

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	857,000	894,000	1	1
Amortization of debt (premium) and issuance costs	12,000	147,000	1	3	12
Amortization of right-of-use assets	228,000	1	1	1	1
Change in fair value of the Credit Provision Derivative	−164,000	0	—	—	—
Impairment of prepaid services	2	0	—	—	—
Debt issuance costs expensed for convertible debt carried at fair value	165,000	0	—	—	—
Loss on debt extinguishment	3	4	0	—	—
Loss on issuance of warrant liabilities	1	0	—	—	—
Stock-based compensation expense	3	6	8	12	18
Issuance of convertible notes for legal services	331,000	0	—	—	—
Accounts receivable	879,000	−879,000	0	—	—
Prepaids and other current assets	−7	7	−565,000	−2	−14
Insurance receivable	308,000	−308,000	4	0	—
Other non-current assets	2	−2	3	−147,000	−325,000
Accounts payable	131,000	3	453,000	373,000	2
Accrued liabilities	−734,000	−2	−3	−2	7
Accrued interest	544,000	136,000	−131,000	131,000	0
Other current liabilities	537,000	−5,000	−14,000	−5	5
Contract liabilities	2	1	−2	1	−1
Operating lease liability	−762,000	−1	−1	−1	−426,000
Litigation settlement contingency	382,000	420,000	−9	0	—
Other non-current liabilities	−516,000	25,000	24,000	23,000	11,000
Net cash used in operating activities	−23	−17	−62	−88	−87
Purchases of property, machinery and equipment	−12,000	0	−94,000	−583,000	−3
Proceeds from sale of property, machinery and equipment	0	135,000	113,000	34,000	0
Purchases of intangible assets	0	−41,000	−38,000	−184,000	−118,000
Net cash (used in) provided by investing activities	−12,000	94,000	−19,000	−733,000	−3
Proceeds from issuance of convertible notes and warrants	2	5	0	—	—
Payment of convertible notes	−2	−575,000	0	—	—
Proceeds from issuance of loan payable	0	2	0	—	—
Proceeds from issuance of related party notes	0	500,000	0	—	—
Principal payments on related party notes	0	−500,000	0	—	—
Principal payments on loan payable	0	−5	−13	−10	−2
Payment of debt issuance costs	−424,000	−438,000	0	0	−144,000
Proceeds from exercise of warrants	16	0	8	0	—
Payments for issuance costs related to exercise of warrants	−2	0	—	—	—
Repurchase of Section 16 Officer shares for tax coverage exchange	−1,000	−4,000	−88,000	−331,000	−151,000
Proceeds from issuance of common stock and related warrants	23	16	19	0	128
Payments for issuance costs related to common stock and related warrants	−2	−2	−2	0	−21
Net cash provided by financing activities	35	16	2	−10	227
Increase (Decrease) in cash, cash equivalents, and restricted cash	11	−920,000	−60	−98	137

Filings

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