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.”
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