Momentus Inc. Reports Q1 2025 Financial Results with Revenue Decline and Improved Net Loss

Momentus Inc. reported its financial results for the first quarter of 2025, revealing a service revenue of $322,000, a decrease of 37% from $513,000 in the same period last year. The company incurred a net loss of $6.2 million, an improvement from the $8.3 million loss reported in the first quarter of 2024. This reduction in losses is attributed to a significant decrease in operating expenses, which fell by 26% to $6.5 million, down from $8.8 million in the prior year. The decrease in operating expenses was primarily driven by lower research and development costs, which decreased from $2.7 million to $1.9 million, and a reduction in selling, general, and administrative expenses from $6.2 million to $4.6 million.

Momentus has made strategic advancements in its product offerings, including the development of the M-1000 satellite bus, which shares substantial commonality with its Vigoride Orbital Service Vehicle (OSV). The company has successfully launched four missions to date, deploying 17 customer satellites and providing hosted payload services. The Vigoride OSV has demonstrated significant flight heritage, which Momentus plans to leverage for future missions. The company is also focused on enhancing its technology, particularly its water plasma propulsion system, to meet the growing demand for satellite bus services.

Operationally, Momentus has signed contracts with customers and collected approximately $3.0 million in customer deposits as of March 31, 2025. However, the company continues to face challenges, including a substantial accumulated deficit of $414.2 million and ongoing liquidity concerns. As of the end of the quarter, Momentus had cash and cash equivalents of $3.4 million, which management indicates may not be sufficient to fund its operations and business plan. The company is actively seeking additional capital to support its growth and operational needs.

Looking ahead, Momentus acknowledges the uncertainty surrounding its ability to continue as a going concern, emphasizing the need for substantial additional capital to fund its operations. The company plans to finance its operations through equity or debt financings, although it cautions that such financing may not be available on favorable terms. The management's outlook reflects a commitment to advancing its technology and expanding its market presence, while also addressing the financial challenges that could impact its future operations.