Business
Momentus Inc. Announces First Quarter 2023 Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) (“Momentus” or the "Company”), a U.S. commercial space company that offers orbital
About this update from Momentus Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nMomentus Inc. (NASDAQ: MNTS) (“Momentus” or the \"Company”), a U.S. commercial space company that offers orbital transportation and in-space infrastructure services, today announced its financial results for the first quarter ended March 31, 2023.\n\n\n“Momentus is showing its competitive advantages with flight heritage, early success with our pioneering water-based propellant engine, and a vehicle that can respond to customer needs with flexibility, speed, and a lower cost,” said Momentus Chief Executive Officer John Rood. “We are now operating Vigoride-5 and Vigoride-6 concurrently, and both missions mark key milestones in demonstrating the value proposition of our technology. In less than a year we have launched three of our Vigoride Orbital Service Vehicles into space, deployed nine customer payloads, provided hosted payload services, demonstrated a new, differentiated breed of spacecraft engine, and continue to garner interest with commercial and government customers.”\n\n\n“The Vigoride Orbital Service Vehicle has a large and flexible payload capacity, best-in-class power, and is low cost,” continued Rood. “We’re eager to use the unique attributes of Vigoride to meet government use cases as well as commercial needs. We have made progress demonstrating our value for U.S. Government organizations, like the Defense Department and NASA. We recently partnered with another commercial space company to propose a joint solution for NASA’s consideration as the agency looks to reboost the Hubble space telescope. This collaboration demonstrates how commercial companies can offer inventive and impactful solutions to government customers. We’re also seeing tremendous opportunity for our services in support of Defense Department and U.S. national security missions and increasing interest in Momentus from the Space Development Agency, U.S. Space Force, and the Intelligence Community. As one of the early movers in a rapidly expanding industry, Momentus is poised to fill a key role in the vibrant and growing space economy as we scale our business for growth and expand into new markets in 2023.”\n\n\nRecent Business Highlights:\n\n\n\nLaunched Vigoride-5 aboard the SpaceX Transporter-6 mission from Cape Canaveral, Florida. This vehicle incorporated important lessons learned from Momentus’ inaugural missi...