Momentus Inc. Reports Q2 2026 Financial Results with Revenue Growth and Increased Losses

Momentus Inc. reported its financial results for the second quarter of 2026, revealing a significant increase in service revenue but continued operational losses. The company generated $25,000 in service revenue for the three months ended June 30, 2026, a decrease of 87% compared to $191,000 in the same period last year. For the six months ended June 30, 2026, revenue rose to $3.24 million, up from $513,000 in the prior year, primarily driven by hosted payload services and engineering project services for U.S. government clients. Despite this revenue growth, Momentus recorded a net loss of $8.27 million for the quarter, compared to a loss of $6.45 million in Q2 2025, reflecting a 28% increase in losses year-over-year.

The company's total operating expenses for the second quarter were $8.13 million, a 33% increase from $6.13 million in the same quarter of 2025. Research and development expenses surged by 93% to $4.23 million, attributed to increased payroll and subcontractor costs. Selling, general, and administrative expenses remained relatively stable at $3.90 million, slightly down from $3.94 million in the previous year. The increase in operating expenses contributed to a loss from operations of $8.11 million, compared to a loss of $5.94 million in the prior year.

Momentus has made strategic advancements, including the successful launch of its Vigoride 7 Orbital Service Vehicle (OSV) on March 30, 2026, which is currently providing hosted payload services for various U.S. government agencies. The company has also initiated work on its Vigoride 8 mission, scheduled for 2027, which is fully booked with NASA payloads. As of June 30, 2026, Momentus had 21,963,401 shares of Class A common stock outstanding, reflecting a significant increase in share count due to various financing activities, including an At-The-Market (ATM) offering that raised approximately $109.9 million in net cash during the first half of 2026.

The company’s cash and cash equivalents rose to $107.6 million as of June 30, 2026, compared to $12.8 million at the end of 2025, significantly improving its liquidity position. Momentus attributed this increase to successful financing activities, including sales of common stock and the exercise of warrants. Looking ahead, the company anticipates continued investment in research and development, operational expansion, and the pursuit of additional contracts with both commercial and government clients. However, it also acknowledged the potential need for further capital to support its growth strategy and operational needs.