Momentus Inc Stock Price, News & Analysis

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.

Momentus Inc. (NASDAQ: MNTS) has announced a service agreement with LuxSpace to transport its Triton-X small satellite platform aboard a Vigoride Orbital Transfer Vehicle in 2023. This mission aims to demonstrate key Triton-X subsystems. LuxSpace's CEO highlighted the importance of the launch for validating technologies within the Triton-X product line. Momentus CEO expressed commitment to support LuxSpace, emphasizing the role of hosted payloads in providing operational efficiency. The Triton-X platform is designed for small LEO satellites, leveraging over 15 years of heritage from previous designs.

Momentus Inc. (NASDAQ: MNTS) reported its Q2 2022 financial results, marking significant milestones in its space services initiative. The company has cleared regulatory hurdles and successfully launched its Vigoride 3 vehicle, deploying seven customer satellites to low Earth orbit. Momentus plans to incorporate lessons learned from this launch into future missions, with additional launches scheduled for late 2022 and beyond. The company aims to reduce its cash burn rate and extend its financial runway into 2023 by cutting overhead and delaying R&D projects.

Momentus (NASDAQ: MNTS), a U.S. commercial space company, will report its financial results for Q2 2022 on August 11, 2022, before U.S. markets open. The company will host a conference call at 12:00 p.m. ET to discuss these results. Participants can join the call by dialing +1 (800) 715-9871 for U.S. callers or +1 (646) 307-1963 for international callers. Additional information will be available on their Investor Relations website.

Momentus (NASDAQ: MNTS), a U.S. commercial space company, reported its fourth Mission Update for the inaugural Vigoride mission initiated on May 25. Since June 29, the company deployed four additional customer satellites, bringing the total to seven, with three remaining onboard. Anomalies were experienced during the initial mission, but the root cause was identified, and corrective actions are in progress. Future launches with SpaceX are planned for November 2022 and beyond, continuing the development of in-space transportation services.

Momentus Inc. (NASDAQ: MNTS) announced the appointment of Krishnan J. Anand as Vice President of Program Management. Anand will focus on enhancing program management practices, ensuring financial and quality objectives are met. His previous experience includes leading program management at Kitty Hawk Corp/Wisk Aero and roles at Lockheed Martin, where he managed a $256M THAAD missile defense project. This strategic hire aims to bolster Momentus's capabilities in commercial space transportation and infrastructure services.

FreeWire Technologies, a leader in ultrafast electric vehicle charging, has announced the appointment of Alex Fishkin as Chief Legal Officer, Elaine Wu as Vice President of Strategic Sourcing & Logistics, and Mark Marosz as Vice President of Quality & Compliance. These strategic hires come amidst growing demand for EV charging solutions and aim to enhance operations amidst supply chain challenges. FreeWire is also expanding its U.S. operations, driven by the Bipartisan Infrastructure Law, and recently launched a new global headquarters in Newark, CA to accelerate innovation in EV charging.

Momentus Inc. (NASDAQ: MNTS) provided a third Mission Update following the launch of its Vigoride-3 spacecraft on May 25. The vehicle faced operational anomalies including malfunctioning deployable solar arrays, impacting power and communications. Despite these challenges, two customer satellites were successfully deployed on May 28. However, the company has expressed decreased confidence in deploying additional satellites as communication issues persist. Momentus plans further Vigoride launches later this year, intending to implement lessons learned from the current mission.

Momentus Inc. (NASDAQ: MNTS) announced that CEO John Rood will participate in a virtual fireside chat on IPO Edge on June 1 at 2:00 p.m. ET. The discussion will focus on the Company's first demonstration mission and its vision for in-space transportation and infrastructure services, aimed at enabling the space economy. Momentus specializes in offering in-space infrastructure, including transportation and hosted payloads, with a unique water plasma propulsion system under development.