Momentus Inc. Q1 FY2023 earnings call

• Momentus demonstrated progress in space transportation, with 3 Vigoride orbital service vehicles in orbit, and Vigoride 7 set to launch later in 2023. • Core technology like the microwave electro thermal thruster (MET) has been successfully operated in space, with over 35 firings and 140+ minutes of firing time. • Signed contracts with multiple customers including FOSSA Systems, Hello Space, Lunasonde, SatRev, and others. • Focus on U.S. government market, including teaming with Astroscale for Hubble Space Telescope reboost and selection for SDA funding. • Tape Spring Solar Array (TASSA) launched on Vigoride 6 mission for testing, aiming to reduce manufacturing costs and lead times. • Eric Williams discussed financial highlights, noting $33M backlog, $39M cash and cash equivalents, and going concern qualification due to liquidity risk.

No specific product segment financial performance with absolute terms and revenue contribution % provided in the transcript.

• Plan to continue driving bookings and revenue growth. • Implement plan to reduce operating expenses and drive closure of legal matters. • Explore opportunities to raise additional funds. • Expect improved liquidity and balance sheet strength to operate into 2024.

• Forward-looking statements subject to risks and uncertainties due to factors that could materially differ from projections. • Going concern qualification as current cash balance poses risk of not meeting obligations in next 12 months.

Q: On operational side, update on Vigoride 6 mission timeline for NASA satellites and TASSA array testing, and on financing sources and capital process.

A: Vigoride 6 will deploy NASA satellites by late July and test TASSA starting end July; regarding financing, evaluating capital sources and implementing plan to reduce operating costs while capturing new business.

Q: Questions on revenue recognition and deployment estimates.

A: Revenue recognition depends on contract value per deployment; later quarters hard to forecast, with revenue varying by satellite size.