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Momentus Inc. Announces First Quarter 2022 Financial Results

May 10, 2022

Momentus Inc.  announced its financial results for the first quarter ended March 31, 2022. 

“They have extensive track records of success over several decades in the aerospace industry. They give our team a major competitive advantage. We are determined to build a team of highly talented people dedicated to making our compelling vision for the new space economy become a reality.”

"We’re excited to have seen momentum building last quarter as we move toward the first launch of our Vigoride orbital transfer vehicle to low earth orbit," said Momentus Chief Executive John Rood. “We recently shipped the Vigoride spacecraft to Cape Canaveral, Florida for integration onto a SpaceX rocket. Cape Canaveral has been the site of so many historic firsts in space, and we’re looking forward to a historic first for our company when we put the Vigoride spacecraft in orbit for the first time.”

Rood went on to say, “We’re grateful for the cooperation and dedication shown by our U.S. government partners to enable Momentus to obtain all the necessary government licenses and approvals needed to launch Vigoride 3, a separate third-party deployer system, and customer satellites on the SpaceX Transporter-5 mission targeted for this month.”

First Quarter 2022 Business Highlights:

Completed a series of extensive ground tests on the Vigoride spacecraft targeted to launch this month. These tests included system-level thermal vacuum testing, which closely simulates the environment Vigoride will encounter in space, and vibration testing, which simulates the environment the spacecraft will encounter during launch.

Delivered the Vigoride 3 spacecraft to the launch site at Cape Canaveral, Florida for integration on the SpaceX Falcon 9 launch vehicle.

Integrated customer satellites and an experimental customer payload onto the Vigoride spacecraft.

In addition to a port for the Vigoride orbital transfer vehicle, Momentus purchased a second port on the SpaceX Transporter-5 mission to use a third-party deployer system to place other customer satellites in orbit. This is part of the Company’s effort to explore providing services as a ride share aggregator and deploying customer satellites that have less complex requirements at lower cost.

Signed Launch Services Agreements for four additional SpaceX missions including Transporter-6, targeted for October 2022, Transporter-7, targeted for January 2023, Transporter-8, targeted for April 2023, and Transporter-9, targeted for October 2023.

Took substantial steps to address regulatory matters affecting the Company culminating in obtaining all the necessary government licenses and approvals for Momentus to launch its first orbital transfer vehicle to space. This included:

Continued implementation of our National Security Agreement (NSA) with the U.S. Government, which is overseen by the Department of Defense and Department of the Treasury;

Approval of license updates from the National Oceanic and Atmospheric Administration (NOAA) both during the quarter and after the close of the quarter;

Obtaining a license from the Federal Communications Commission (FCC) for our first Vigoride launch after the end of the quarter; and

Approval of a favorable payload determination from the Federal Aviation Administration (FAA) after the end of the quarter.

Added key talent with impressive and long careers that will provide a competitive advantage. (This occurred during the quarter and after the end of the quarter). Key talent additions included:

Charles Chase, Vice President of Engineering;

Nick Zello, Vice President of Manufacturing and Operations;

Gary Bartmann, Vice President of Supply Chain; and

Jason Garkey, Chief Security Officer.

“The caliber of the leaders we added recently is truly impressive,” said Momentus Chief Executive John Rood. “They have extensive track records of success over several decades in the aerospace industry. They give our team a major competitive advantage. We are determined to build a team of highly talented people dedicated to making our compelling vision for the new space economy become a reality.”