Momentus Inc Financials

MNTS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Momentus Inc (MNTS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 0/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Momentus Inc has an operating margin of -1404.1%, meaning the company retains $-1404 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -2206.9% the prior year.

Growth

Momentus Inc's revenue declined 31.6% year-over-year, from $3.1M to $2.1M. This contraction results in a growth score of 0/100.

Liquidity

Momentus Inc's current ratio of 0.30 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Momentus Inc generated -$16.6M in operating cash flow, capex of $0 consumed most of it, leaving -$16.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

Momentus Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.48x

For every $1 of reported earnings, Momentus Inc generates $0.48 in operating cash flow (-$16.6M OCF vs -$34.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-75.1x

Momentus Inc earns $-75.1 in operating income for every $1 of interest expense (-$29.7M vs $395K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$2.1M

YoY-31.6%

Momentus Inc generated $2.1M in revenue in fiscal year 2024. This represents a decrease of 31.6% from the prior year.

EBITDA

-$28.8M

YoY+57.2%

Momentus Inc's EBITDA was -$28.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 57.2% from the prior year.

Free Cash Flow

-$16.6M

YoY+73.2%

Momentus Inc generated -$16.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 73.2% from the prior year.

Net Income

-$34.9M

YoY+49.3%

Momentus Inc reported -$34.9M in net income in fiscal year 2024. This represents an increase of 49.3% from the prior year.

EPS (Diluted)

$-23.19

YoY+92.8%

Momentus Inc earned $-23.19 per diluted share (EPS) in fiscal year 2024. This represents an increase of 92.8% from the prior year.

Cash & Debt

$1.6M

YoY-25.8%

5Y CAGR+7.5%

Momentus Inc held $1.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

96.9%

YoY+24.6pp

Momentus Inc's gross margin was 96.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 24.6 percentage points from the prior year.

Operating Margin

-1404.1%

YoY+802.8pp

Momentus Inc's operating margin was -1404.1% in fiscal year 2024, reflecting core business profitability. This is up 802.8 percentage points from the prior year.

Net Margin

-1653.1%

YoY+578.1pp

Momentus Inc's net profit margin was -1653.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 578.1 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$9.8M

YoY-71.5%

Momentus Inc invested $9.8M in research and development in fiscal year 2024. This represents a decrease of 71.5% from the prior year.

Share Buybacks

YoY-100.0%

Momentus Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

YoY-100.0%

Momentus Inc invested $0 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

MNTS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.1M-31.6%	$3.1M+933.1%	$299K-9.4%	$330K-9.6%	$365K	N/A
Cost of Revenue	$66K-92.3%	$855K+3188.5%	$26K+119.3%	-$135K-136.7%	$368K	N/A
Gross Profit	$2.0M-8.3%	$2.2M+718.3%	$273K	N/A	-$3K	N/A
R&D Expenses	$9.8M-71.5%	$34.4M-17.7%	$41.7M-18.7%	$51.3M+125.9%	$22.7M	N/A
SG&A Expenses	$21.9M-39.1%	$36.1M-27.6%	$49.8M+1.9%	$48.9M+309.4%	$11.9M	N/A
Operating Income	-$29.7M+56.5%	-$68.2M+25.3%	-$91.3M+8.5%	-$99.8M-187.8%	-$34.7M	N/A
Interest Expense	$395K-83.1%	$2.3M-55.6%	$5.3M-63.0%	$14.2M+2927.4%	$470K	N/A
Income Tax	$0	$0	$0-100.0%	$2K+100.0%	$1K-97.9%	$48K
Net Income	-$34.9M+49.3%	-$68.9M+27.8%	-$95.4M-179.1%	$120.7M+139.3%	-$307.0M	N/A
EPS (Diluted)	$-23.19+92.8%	$-323.96-453.5%	$-58.53	$1.70+134.7%	$-4.90	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$234K+22.5%	$191K-40.7%	$322K+13.0%	$285K-76.4%	$1.2M+135.7%	$513K-49.9%	$1.0M+201.8%	$339K
Cost of Revenue	$0-100.0%	$2K	N/A	$66K	$0	N/A	N/A	$119K
Gross Profit	$234K+23.8%	$189K-41.3%	$322K+13.0%	$285K-76.4%	$1.2M+135.7%	$513K-24.0%	$675K+206.8%	$220K
R&D Expenses	$2.3M+6.2%	$2.2M+14.5%	$1.9M-6.6%	$2.1M-28.0%	$2.9M+6.5%	$2.7M-66.7%	$8.0M+34.1%	$6.0M
SG&A Expenses	$4.2M+5.4%	$3.9M-14.2%	$4.6M-8.8%	$5.0M-5.4%	$5.3M-13.6%	$6.2M-4.9%	$6.5M-30.2%	$9.3M
Operating Income	-$6.2M-5.1%	-$5.9M+3.9%	-$6.2M+9.0%	-$6.8M+2.4%	-$7.0M+16.4%	-$8.3M+39.9%	-$13.8M+8.1%	-$15.1M
Interest Expense	$177K+94.5%	$91K+158.3%	-$156K-152.9%	$295K	$0-100.0%	$57K-63.2%	$155K-70.8%	$530K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$11.1M-71.7%	-$6.5M-4.5%	-$6.2M+48.0%	-$11.9M-69.0%	-$7.0M+15.6%	-$8.3M+41.0%	-$14.1M+7.0%	-$15.2M
EPS (Diluted)	$-1.08+12.2%	$-1.23+25.0%	$-1.64	$-1.76+70.3%	$-5.92+36.0%	$-9.25+96.9%	$-295.05-3997.9%	$-7.20

MNTS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$10.0M-51.8%	$20.6M-77.7%	$92.4M-50.3%	$185.8M+411.6%	$36.3M-79.2%	$174.2M
Current Assets	$4.5M-57.8%	$10.7M-85.9%	$76.3M-55.0%	$169.7M+514.4%	$27.6M+1927.7%	$1.4M
Cash & Equivalents	$1.6M-25.8%	$2.1M-96.5%	$61.1M-61.8%	$160.0M+595.7%	$23.0M+2004.4%	$1.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$879K	$0	$0	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$17.8M+1.7%	$17.5M-67.6%	$53.8M-0.2%	$53.9M-83.4%	$325.8M+104.2%	$159.5M
Current Liabilities	$15.0M+35.1%	$11.1M-74.3%	$43.2M+11.2%	$38.9M+431.4%	$7.3M+3644.8%	$195K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$7.8M-345.1%	$3.2M-91.7%	$38.6M-70.7%	$131.9M+145.6%	-$289.5M-2069.6%	$14.7M
Retained Earnings	-$408.0M-9.4%	-$373.0M-22.7%	-$304.1M-45.7%	-$208.7M+36.6%	-$329.3M-6687.6%	$5.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$19.6M+113.2%	$9.2M-21.6%	$11.7M+17.8%	$10.0M-33.7%	$15.0M-19.9%	$18.7M-9.2%	$20.6M-38.3%	$33.5M
Current Assets	$7.1M+65.4%	$4.3M-37.6%	$6.8M+51.1%	$4.5M-26.5%	$6.2M-33.9%	$9.3M-13.2%	$10.7M-49.3%	$21.2M
Cash & Equivalents	$670K+407.6%	$132K-96.1%	$3.4M+116.2%	$1.6M+75.3%	$897K-46.4%	$1.7M-21.1%	$2.1M-78.3%	$9.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0-100.0%	$200K	$0-100.0%	$879K+5760.0%	$15K0.0%	$15K	$0-100.0%	$44K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$20.3M+5.9%	$19.2M+8.3%	$17.7M-0.4%	$17.8M+5.7%	$16.8M+10.1%	$15.3M-12.6%	$17.5M-40.2%	$29.2M
Current Liabilities	$17.3M-8.7%	$19.0M+11.8%	$17.0M+13.1%	$15.0M+30.5%	$11.5M+19.6%	$9.6M-13.5%	$11.1M-51.9%	$23.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$694K+93.0%	-$10.0M-67.0%	-$6.0M+23.5%	-$7.8M-334.9%	-$1.8M-151.5%	$3.5M+9.4%	$3.2M-25.7%	$4.3M
Retained Earnings	-$431.7M-2.6%	-$420.6M-1.6%	-$414.2M-1.5%	-$408.0M-5.1%	-$388.4M-1.8%	-$381.4M-2.2%	-$373.0M-3.9%	-$358.9M

MNTS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$16.6M+73.1%	-$61.8M+29.7%	-$87.9M-1.4%	-$86.7M-166.5%	-$32.5M	N/A
Capital Expenditures	$0-100.0%	$94K-83.9%	$583K-80.4%	$3.0M+97.9%	$1.5M	N/A
Free Cash Flow	-$16.6M+73.2%	-$61.9M+30.0%	-$88.5M+1.4%	-$89.7M-163.5%	-$34.0M	N/A
Investing Cash Flow	$94K+594.7%	-$19K+97.4%	-$733K+76.3%	-$3.1M-93.0%	-$1.6M	N/A
Financing Cash Flow	$15.6M+710.7%	$1.9M+120.2%	-$9.5M-104.2%	$226.8M+408.0%	$44.7M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$10.0M	$0-100.0%	$40.0M	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$5.3M-63.9%	-$3.2M+22.2%	-$4.2M+27.2%	-$5.7M-411.8%	-$1.1M+78.7%	-$5.3M+66.8%	-$15.8M-24.1%	-$12.8M
Capital Expenditures	N/A	N/A	N/A	$0	$0	$0	$0-100.0%	$41K
Free Cash Flow	N/A	N/A	N/A	-$5.7M-411.8%	-$1.1M+78.7%	-$5.3M+66.8%	-$15.8M-23.7%	-$12.8M
Investing Cash Flow	$0	$0	$0	$0+100.0%	-$1K+97.4%	-$39K-225.0%	-$12K-250.0%	$8K
Financing Cash Flow	$5.9M+30947.4%	-$19K-100.3%	$6.0M-0.2%	$6.0M+1617.4%	$350K-92.8%	$4.8M-38.1%	$7.8M+603.4%	$1.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	$0	$0	$0	$0	$0

MNTS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	96.9%+24.6pp	72.3%-19.0pp	91.3%	N/A	-0.8%	N/A
Operating Margin	-1404.1%+802.8pp	-2206.9%+28319.8pp	-30526.8%-296.2pp	-30230.6%-20733.1pp	-9497.5%	N/A
Net Margin	-1653.1%+578.1pp	-2231.1%+29689.9pp	-31921.1%-68482.9pp	36561.8%+120678.8pp	-84117.0%	N/A
Return on Equity	N/A	N/A	N/A	91.5%	N/A	N/A
Return on Assets	-351.1%-17.4pp	-333.8%-230.5pp	-103.3%-168.2pp	64.9%+910.3pp	-845.3%	N/A
Current Ratio	0.30-0.7	0.97-0.8	1.76-2.6	4.37+0.6	3.78-3.2	6.97
Debt-to-Equity	-2.27-7.8	5.48+4.1	1.39+1.0	0.41+1.5	-1.13-12.0	10.85
FCF Margin	-785.8%+1218.8pp	-2004.5%+27584.1pp	-29588.6%-2411.7pp	-27177.0%-17852.0pp	-9324.9%	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	100.0%+1.0pp	99.0%-1.0pp	100.0%0.0pp	100.0%0.0pp	100.0%0.0pp	100.0%+34.0pp	66.0%+1.1pp	64.9%
Operating Margin	-2669.2%+442.8pp	-3112.0%-1191.2pp	-1920.8%+464.8pp	-2385.6%-1809.6pp	-576.0%+1047.2pp	-1623.2%-269.8pp	-1353.4%+3090.9pp	-4444.3%
Net Margin	-4732.5%-1355.5pp	-3377.0%-1460.2pp	-1916.8%+2244.3pp	-4161.1%-3580.7pp	-580.3%+1040.2pp	-1620.5%-242.1pp	-1378.4%+3093.3pp	-4471.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-56.5%+13.7pp	-70.2%-17.5pp	-52.6%+66.5pp	-119.2%-72.4pp	-46.8%-2.4pp	-44.4%+23.9pp	-68.3%-23.0pp	-45.3%
Current Ratio	0.41+0.2	0.22-0.2	0.40+0.1	0.30-0.2	0.54-0.4	0.970.0	0.97+0.1	0.92
Debt-to-Equity	-29.24-27.3	-1.92+1.0	-2.96-0.7	-2.27+7.1	-9.36-13.7	4.38-1.1	5.48-1.3	6.80
FCF Margin	N/A	N/A	N/A	-2013.0%-1920.3pp	-92.7%+931.3pp	-1024.0%+524.3pp	-1548.3%+2227.5pp	-3775.8%

Note: Shareholder equity is negative (-$7.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.30), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Momentus Inc's annual revenue?

Momentus Inc (MNTS) reported $2.1M in total revenue for fiscal year 2024. This represents a -31.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Momentus Inc's revenue growing?

Momentus Inc (MNTS) revenue declined by 31.6% year-over-year, from $3.1M to $2.1M in fiscal year 2024.

Is Momentus Inc profitable?

No, Momentus Inc (MNTS) reported a net income of -$34.9M in fiscal year 2024, with a net profit margin of -1653.1%.

What is Momentus Inc's earnings per share (EPS)?

Momentus Inc (MNTS) reported diluted earnings per share of $-23.19 for fiscal year 2024. This represents a 92.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Momentus Inc's EBITDA?

Momentus Inc (MNTS) had EBITDA of -$28.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Momentus Inc's gross margin?

Momentus Inc (MNTS) had a gross margin of 96.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Momentus Inc's operating margin?

Momentus Inc (MNTS) had an operating margin of -1404.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Momentus Inc's net profit margin?

Momentus Inc (MNTS) had a net profit margin of -1653.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Momentus Inc's free cash flow?

Momentus Inc (MNTS) generated -$16.6M in free cash flow during fiscal year 2024. This represents a 73.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Momentus Inc's operating cash flow?

Momentus Inc (MNTS) generated -$16.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Momentus Inc's total assets?

Momentus Inc (MNTS) had $10.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Momentus Inc's capital expenditures?

Momentus Inc (MNTS) invested $0 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Momentus Inc spend on research and development?

Momentus Inc (MNTS) invested $9.8M in research and development during fiscal year 2024.

What is Momentus Inc's current ratio?

Momentus Inc (MNTS) had a current ratio of 0.30 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Momentus Inc's debt-to-equity ratio?

Momentus Inc (MNTS) had a debt-to-equity ratio of -2.27 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Momentus Inc's return on assets (ROA)?

Momentus Inc (MNTS) had a return on assets of -351.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Momentus Inc's cash runway?

Based on fiscal year 2024 data, Momentus Inc (MNTS) had $1.6M in cash against an annual operating cash burn of $16.6M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Momentus Inc's debt-to-equity ratio negative or unusual?

Momentus Inc (MNTS) has negative shareholder equity of -$7.8M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Momentus Inc's Piotroski F-Score?

Momentus Inc (MNTS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Momentus Inc's earnings high quality?

Momentus Inc (MNTS) has an earnings quality ratio of 0.48x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Momentus Inc cover its interest payments?

Momentus Inc (MNTS) has an interest coverage ratio of -75.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Momentus Inc?

Momentus Inc (MNTS) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.