Momentus Inc.
- Open
- 4.64
- Day high
- 5.31
- Day low
- 4.60
- Prev close
- 4.87
- Volume
- 1.1M
- Mkt cap
- $50M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.8
- P/S
- 12.4
- Yield
- —
- Per share
- —
- ▲Insiders net buying $35K over the last 3 months (5 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
Momentus Inc. (MNTS) is a Industrials company listed on NASDAQ. The stock is down 78% over the past year. Over the trailing 3 months, insiders filed 5 open-market buys and 0 sales (SEC Form 4).
Momentus Inc. (MNTS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MNTS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | — | $-2.15 | — | $3M | — |
| Nov 19, 2025 | — | $-19.29 | — | $234000 | — |
| Aug 19, 2025 | — | $-1.23 | — | $191000 | — |
| May 15, 2025 | — | $-1.64 | — | $322000 | — |
| Nov 14, 2024 | $-564.77 | $-6.30 | +98.9% | $107000 | -92.9% |
| Sep 16, 2024 | $-2.21 | $10.00 | +552.5% | $1M | +0.0% |
| Nov 14, 2023 | $-7.09 | $-100.84 | -1322.3% | $339000 | -66.1% |
| Aug 14, 2023 | $-119.05 | $-140.06 | -17.6% | $2M | +610.4% |
| May 11, 2023 | $-0.23 | $-168.07 | -72973.9% | $22000 | -92.1% |
| Mar 7, 2023 | $-0.28 | $-175.07 | -62425.0% | $120000 | -76.0% |
| Aug 11, 2022 | — | $-217.09 | — | $50000 | — |
| Mar 8, 2022 | — | $-35.01 | — | $270000 | -92.5% |
MNTS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 26, 2026 | Hadfield Chrisdirector | Buy | 2,000 | $7.19 |
| May 22, 2026 | Kabot Briandirector | Buy | 250 | $5.51 |
| May 21, 2026 | Layman Jonofficer: Chief Legal Officer | Grant | 14,270 | — |
| May 21, 2026 | Layman Jonofficer: Chief Legal Officer | Grant | 15,107 | — |
| May 21, 2026 | Layman Jonofficer: Chief Legal Officer | Grant | 6,457 | — |
| May 21, 2026 | Layman Jonofficer: Chief Legal Officer | Grant | 10,635 | — |
| May 21, 2026 | Rood John C.director, officer: Chief Executive Officer | Grant | 40,485 | — |
| May 21, 2026 | Ensler Lonofficer: Chief Financial Officer | Grant | 15,107 | — |
| May 21, 2026 | Ensler Lonofficer: Chief Financial Officer | Grant | 5,405 | — |
| May 21, 2026 | SCHWARZ ROBERT Eofficer: Chief Technology Officer | Grant | 10,635 | — |
| May 21, 2026 | SCHWARZ ROBERT Eofficer: Chief Technology Officer | Grant | 6,457 | — |
| May 21, 2026 | Rood John C.director, officer: Chief Executive Officer | Grant | 55,350 | — |
| May 20, 2026 | Hadfield Chrisdirector | Option | 913 | — |
| May 20, 2026 | Kabot Briandirector | Buy | 1,850 | $5.40 |
| May 20, 2026 | Kabot Briandirector | Option | 913 | — |
Source: MNTS SEC Form 4 filings, latest May 26, 2026. For informational purposes only — not investment advice.
See the full MNTS insider & 13F page →Momentus Inc. company profile
Overview
Momentus Inc. (NASDAQ:MNTS) is a space infrastructure services company founded by Mikhail Kokorich in 2017 and headquartered in Santa Jose, California. The company went public in 2020 through a SPAC merger and operates in the rapidly growing commercial space industry. Momentus provides in-space transportation and orbital services using its proprietary Vigoride orbital service vehicles, positioning itself as a critical link in the space supply chain by moving satellites from their initial deployment orbits to their final operational positions.
Business
Momentus operates in the commercial space services industry, specifically focusing on what's known as "last-mile delivery" for satellites. The space industry has evolved to where satellites are typically launched in batches to a single orbit, but many need to be moved to different orbital positions to begin their missions. This creates a transportation gap that Momentus aims to fill. The company's core offering revolves around its Vigoride orbital service vehicles (OSVs), which are essentially space tugs that can carry multiple small satellites and deploy them to their designated orbits. These vehicles use Momentus's proprietary Microwave Electrothermal Thruster (MET) technology, which uses water as propellant and microwave energy for propulsion - a more efficient and environmentally friendly alternative to traditional chemical propulsion systems. Momentus operates through several business segments: 1. Orbital Transportation Services (primary revenue driver): Provides satellite deployment and orbital transfer services using Vigoride vehicles. This segment has generated the majority of the company's limited revenue to date, approximately 70-80% based on recent quarters. 2. Satellite Bus Manufacturing: Developing the M-1000 satellite bus platform to expand into providing complete satellite solutions rather than just transportation services. 3. In-Space Infrastructure Services: Emerging services including satellite servicing, debris removal, and rendezvous and proximity operations (RPO), which could address the growing need for satellite deorbiting under new FCC regulations. The company has successfully launched multiple Vigoride vehicles and deployed 18 customer satellites to date, demonstrating the viability of its core technology platform.
Revenue model
Momentus generates revenue primarily through service contracts for satellite deployment and orbital transportation. Customers pay the company to transport their satellites from initial launch orbits to final operational positions, with pricing typically based on the mass of the payload and the complexity of the orbital transfer required. The company's primary customers include satellite manufacturers, government agencies (NASA, Department of Defense), and commercial satellite operators who need their payloads moved to specific orbits after launch. Revenue is recognized upon successful completion of satellite deployment missions. The business model faces several margin-influencing factors: Positive margin factors include the growing small satellite market, increasing demand for precise orbital positioning, new FCC regulations requiring satellite deorbiting (creating new service opportunities), and the company's proprietary MET technology which offers cost advantages over traditional chemical propulsion. The development of reusable Vigoride vehicles could significantly improve unit economics, as each vehicle could potentially be used 6-7 times. Negative margin factors include the high fixed costs of space missions, regulatory delays that can postpone revenue recognition, intense competition from established aerospace companies, the inherent risks of space operations that can result in mission failures, and the current low utilization of manufacturing capacity. The company also faces challenges from the cyclical nature of launch opportunities and the long sales cycles typical in the aerospace industry. The company has maintained a backlog of $33 million as of late 2022, though this has declined from previous levels, indicating some challenges in converting pipeline opportunities into firm contracts.
Competitive moat
Momentus possesses a moderate technological moat based on its proprietary Microwave Electrothermal Thruster technology and operational experience in space. The company's MET propulsion system, which uses water as propellant, offers theoretical advantages in terms of efficiency and environmental impact compared to traditional chemical thrusters. Additionally, the company has accumulated valuable operational experience through multiple successful Vigoride missions and satellite deployments. However, this moat is not particularly strong or defensible. The space transportation market is becoming increasingly competitive, with established aerospace giants like SpaceX, Northrop Grumman, and others developing their own orbital transfer capabilities. These competitors often have significantly greater financial resources, established customer relationships, and proven track records at scale. The regulatory environment also presents both opportunities and challenges - while new FCC deorbiting requirements could create new markets for Momentus's services, the same regulations and launch licensing requirements create barriers that well-funded competitors can more easily navigate. The company's small scale and limited financial resources make it vulnerable to competitive pressure from larger players who can offer integrated solutions, better pricing, or more comprehensive service packages. The technical barriers to entry in orbital maneuvering, while significant, are not insurmountable for well-funded competitors, particularly those already operating in adjacent space markets. Momentus's best defensive position lies in its early-mover advantage in the specific niche of small satellite orbital transfer services and its growing operational experience, but this advantage could erode quickly if larger competitors decide to prioritize this market segment.
Risks & safety
Momentus presents significant financial risk with minimal margin of safety for investors. Liquidity and Solvency Concerns: • Cash position of only $3.4 million as of Q1 2025, down from $61 million in 2022 • Current ratio of 0.40, indicating inability to cover short-term obligations • Negative working capital of approximately $10.1 million • Annual cash burn of approximately $16.6 million based on 2024 operations • Current cash runway suggests potential liquidity crisis within months without additional funding Debt and Capital Structure: • Total liabilities of $17.7 million exceed total assets of $11.7 million • Negative shareholders' equity of approximately $6 million • Company has been raising capital through equity offerings, diluting existing shareholders Valuation Metrics: • Trading at negative enterprise value due to financial distress • Revenue of only $2.1 million in 2024 against market cap of approximately $9.4 million • Negative EBITDA of $29.7 million in 2024 • Stock price has declined from over $500 in 2022 to under $2 currently Other Considerations: • Early-stage company with limited revenue generation relative to expenses • High execution risk in space operations • Regulatory and technical challenges inherent in space industry • Need for continuous capital raises to fund operations
Recent development
Over the past few years, Momentus has focused on proving its core technology while expanding its service offerings and pursuing government contracts. The company successfully demonstrated its Microwave Electrothermal Thruster technology in space through multiple Vigoride missions, with Vigoride 3 launched in May 2022 and Vigoride 5 in January 2023, collectively deploying 18 customer satellites. A key strategic pivot has been the expansion beyond pure transportation services into satellite manufacturing with the development of the M-1000 satellite bus platform. This represents an attempt to capture more value in the space supply chain by offering complete satellite solutions rather than just orbital transfer services. The company has also pursued government and defense market opportunities, submitting proposals for NASA Tipping Point programs and Department of Defense contracts. While not selected for the SDA Tranche 2 Transport Layer Alpha program, management indicated they learned valuable lessons and continue pursuing similar opportunities. Technology development has focused on creating reusable Vigoride vehicles and developing Rendezvous and Proximity Operations (RPO) capabilities. The reusability initiative could significantly improve unit economics, while RPO capabilities position the company to address the growing market for satellite servicing and deorbiting services driven by new FCC regulations. Financial management has become increasingly critical, with the company reducing operating expenses by over 50% year-over-year in 2023 and exploring various capital-raising alternatives including at-the-market offerings. The company has also been exploring strategic partnerships and alternatives to address its capital constraints. Despite these developments, revenue generation has remained inconsistent, with quarterly revenues ranging from $107,000 to $1.2 million, indicating ongoing challenges in scaling operations and converting backlog into recognized revenue.
MNTS company profile · for informational purposes only — not investment advice.
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