Momentus Inc Stock Price, News & Analysis

Momentus Inc. (NASDAQ: MNTS), a U.S. commercial space company, will release its third-quarter 2022 financial results after U.S. market close on November 8, 2022. Following the release, a conference call will occur at 5:00 p.m. ET (2:00 p.m. PT) for discussion of the results. Participants can access the call via a designated number. Momentus specializes in in-space infrastructure services and is developing innovative propulsion systems. The press release also contains forward-looking statements and encourages caution regarding reliance on these projections.

Momentus Inc. (NASDAQ: MNTS) has successfully completed Thermal Vacuum (TVAC) testing of its Vigoride Orbital Service Vehicle in preparation for the upcoming SpaceX Transporter-6 mission in December. This milestone follows successful vibration testing and comprehensive evaluations of various subsystems. The upgraded Vigoride vehicle design enhances payload capacity while introducing modularity for customized mission profiles. The second mission will focus on delivering payloads for Caltech and Qosmosys, while also demonstrating Vigoride's water-based Microwave Electrothermal Thruster propulsion system.

Momentus Inc. (NASDAQ: MNTS) has successfully completed extensive ground testing of solar arrays for its upcoming Vigoride Orbital Service Vehicle, set to launch on SpaceX Transporter-6 in December 2022. The tests aimed to ensure effective deployment and functionality, addressing previous issues encountered during the first demonstration mission. The next mission will include innovative customer payloads and a new propulsion system designed for enhanced performance.

Momentus Inc. (NASDAQ: MNTS) has announced an equity distribution agreement to implement an at-the-market equity offering program, allowing them to sell up to $50 million in Class A common stock over three years. Sales will be facilitated by Stifel, Nicolaus & Company. Proceeds are intended for the development of the Vigoride orbital service vehicle and general corporate purposes, but the actual amount raised may be lower than the maximum. The offering is registered under the effective registration statement with the SEC, which allows capital raising of up to $200 million.

Momentus Inc. (NASDAQ: MNTS) has announced the successful completion of vibration testing for its Vigoride Orbital Service Vehicle, which is set to launch on SpaceX's Transporter-6 mission in December 2022. This testing represents a crucial milestone in preparation for upcoming missions. The vehicle, which features enhanced payload capacity and improvements following learnings from its first mission, will carry payloads for clients such as Caltech and Qosmosys, while also testing its water-based propulsion system.

Sidus Space, Inc. (NASDAQ:SIDU) partners with Momentus Inc. (NASDAQ:MNTS) under a memorandum of understanding (MOU) to explore launching LizzieSat™ satellites using Momentus’ Vigoride Orbital Service Vehicle. The collaboration aims to enhance mission versatility, allowing Sidus to provide power and data to LizzieSat™ in orbit. The companies are interested in four potential mission launches initially and will seek joint payload opportunities and government solicitations. Sidus aims to improve customer value and flexibility in satellite missions with this partnership.

Momentus Inc. (NASDAQ: MNTS) has released its fifth Mission Update for the Vigoride mission launched on May 25. Since the last update on August 3, the company successfully deployed additional payloads, including the SelfieSat, which will capture images of Earth. Momentus has now deployed eight customer satellites in low Earth orbit and plans to continue deploying remaining payloads. The company has agreements with SpaceX for further Vigoride launches throughout 2023, reflecting its ongoing efforts to expand in-space infrastructure services.

Momentus Inc. (NASDAQ: MNTS) announced its participation in two major space events: the World Satellite Business Week from September 12-16 and the International Astronautical Congress from September 18-22, both in Paris, France. CEO John Rood will discuss in-space logistics on September 14. Momentus aims to promote its vision for space infrastructure, focusing on last-mile delivery and sustainability solutions. The company successfully launched its Vigoride vehicle earlier this year and plans another launch in November.

Momentus Inc. (NASDAQ: MNTS) has granted inducement awards to 30 new employees, totaling 1,269,645 restricted stock units (RSUs) worth approximately $2.55 million, based on a share price of $2.01 as of August 22, 2022. These awards are designed to attract talent and are contingent on the employees' continued service, featuring a three- or four-year vesting schedule. Momentus focuses on in-space infrastructure services, including transportation and payload hosting, powered by its innovative water plasma propulsion technology.