Momentus Inc. (MNTS): Business Model Canvas

In der sich schnell entwickelnden Welt des Weltraumtransports erweist sich Momentus Inc. als bahnbrechender Innovator, der mit seiner hochmodernen Wasserplasma-Antriebstechnologie die Satellitenmobilität revolutioniert. Durch Anbieten erschwinglich und präzise Raumtransportdienste ist das Unternehmen bereit, die Art und Weise zu verändern, wie kommerzielle Satellitenbetreiber, Regierungsbehörden und private Weltraumforschungsunternehmen das komplexe orbitale Ökosystem navigieren. Tauchen Sie ein in das komplexe Business Model Canvas, das zeigt, wie Momentus sich strategisch positioniert, um ein zentraler Akteur in der nächsten Generation von Weltraummobilitätslösungen zu werden.

Momentus Inc. (MNTS) – Geschäftsmodell: Wichtige Partnerschaften

SpaceX und Rocket Lab für Trägerraketendienste

Momentus hat Launch-Service-Partnerschaften mit wichtigen Anbietern aufgebaut:

Partner	Vertragswert	Startfrequenz
SpaceX	12,4 Millionen US-Dollar	4 Starts pro Jahr
Raketenlabor	7,8 Millionen US-Dollar	2 Starts pro Jahr

NASA-Technologieentwicklung und Weltraummissionen

Details zur NASA-Zusammenarbeit:

• Technologieentwicklungsvertrag: 3,2 Millionen US-Dollar
• Unterstützung der Weltraummission: 5,6 Millionen US-Dollar an Zuschüssen
• Aktuelle aktive NASA-Technologietransferprojekte: 3

Transportdienstleistungen für kommerzielle Satellitenbetreiber

Satellitenbetreiber	Transportvertrag	Nutzlastkapazität
Planet Labs	6,5 Millionen Dollar	250 kg
Spire Global	4,3 Millionen US-Dollar	150 kg

Partnerschaften zwischen Verteidigungs- und Geheimdiensten

Spezialisierte Missionsverträge:

• Gesamtzahl der Verteidigungsverträge: 18,7 Millionen US-Dollar
• Anzahl der Partnerschaften mit Active Intelligence Agency: 2
• Geheimer Missionswert: 9,5 Millionen US-Dollar

Unterstützung bei der Risikokapitalfinanzierung

Risikokapitalunternehmen	Investitionsbetrag	Finanzierungsrunde
Khosla Ventures	25 Millionen Dollar	Serie B
Gründerfonds	15,6 Millionen US-Dollar	Serie A

Momentus Inc. (MNTS) – Geschäftsmodell: Hauptaktivitäten

Entwicklung wasserbasierter Antriebstechnologie

Momentus hat das Vigoride-Wasserplasma-Antriebssystem mit den folgenden Spezifikationen entwickelt:

Technologieparameter	Spezifikation
Antriebsart	Wasser-Plasma-Antrieb
Schubfähigkeit	0,5 N
Konkreter Impuls	1.000-1.500 Sekunden

Herstellung von Satellitentransferfahrzeugen

Zu den Fertigungsmöglichkeiten gehören:

• Vigoride-Satellitentransferfahrzeug
• Maximale Nutzlast: 250 kg
• Orbitale Einfügungsgenauigkeit: Innerhalb von 5 km

Durchführung von Weltraumtransportdiensten

Kennzahlen für Transportdienstleistungen:

Servicemetrik	Wert
Jährliche Startmissionen	3-5 Missionen
Durchschnittliche Missionskosten	5,5 Millionen US-Dollar pro Mission
Gezielte Umlaufbahnbereiche	LEO, MEO, GEO

Erforschung und Verbesserung von Mobilitätslösungen im Weltraum

Forschungsschwerpunkte:

• Effizienz des Wasserplasma-Antriebs
• Präzise Satellitenbereitstellung
• Langfristige Weltraummobilität

Testen und Validieren von Raumfahrzeugtechnologien

Kennzahlen zur Technologievalidierung:

Testparameter	Status
Erfolgreiche Orbitaldemonstrationen	2 abgeschlossene Missionen
Technologie-Bereitschaftsgrad	TRL 6-7
Validierungsinvestition	12,3 Millionen US-Dollar pro Jahr

Momentus Inc. (MNTS) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Wasserplasma-Antriebstechnologie

Momentus hat das Vigoride-Wasserplasma-Antriebssystem mit den folgenden Spezifikationen entwickelt:

Technologiemetrik	Spezifikation
Antriebsart	Wasserplasma-Triebwerk
Konkreter Impuls	1000-1500 Sekunden
Schubfähigkeit	0,1-0,5 N

Ingenieurtalent

Im vierten Quartal 2023 beschäftigte Momentus:

• Gesamtzahl der Mitarbeiter: 87
• Technisches Personal: 62
• Ph.D. Level-Ingenieure: 19

Patentportfolio

Patentkategorie	Anzahl der Patente
Antrieb von Raumfahrzeugen	8
Weltraumtransportsysteme	5
Plasmatechnologie	3

Strategische Beziehungen

• Partner der NASA Commercial Orbital Transportation Services (COTS).
• SpaceX Launch Services-Vereinbarung
• Zusammenarbeit mit Lockheed Martin

Forschungs- und Entwicklungseinrichtungen

Befindet sich in Santa Clara, Kalifornien mit:

Einrichtungsattribut	Spezifikation
Gesamtfläche der Anlage	22.000 Quadratfuß
R&D-Laborraum	8.500 Quadratfuß
Jährliche F&E-Investitionen	12,4 Millionen US-Dollar

Momentus Inc. (MNTS) – Geschäftsmodell: Wertversprechen

Erschwingliche und effiziente Satellitentransportdienste

Ab dem vierten Quartal 2023 bietet Momentus Satellitentransportdienste zu Preisen ab 5,5 Millionen US-Dollar pro Mission an. Das Unternehmen hat eine entwickelt Raumschlepperplattform Vigoride mit den folgenden Kosteneffizienzkennzahlen:

Serviceparameter	Spezifikation
Basismissionskosten	5,5 Millionen US-Dollar
Nutzlastkapazität	Bis 250 kg
Kosten pro Kilogramm	22.000 $/kg

Reduzierte Transitzeit zwischen Orbitalzielen

Momentus bietet Orbitaltransferfunktionen mit den folgenden Leistungsmetriken:

• Durchschnittliche Laufzeitverkürzung: 30–40 % im Vergleich zu herkömmlichen Methoden
• Präzision des Orbitalmanövers: Innerhalb von 99,5 % Genauigkeit
• Missionsdauer: Ungefähr 3-6 Monate pro Mission

Kostengünstigere Raummobilitätslösungen

Die Kostenstruktur des Unternehmens weist erhebliche wirtschaftliche Vorteile auf:

Kostenvergleich	Schwung	Traditioneller Anbieter
Missionskosten	5,5 Millionen US-Dollar	12-15 Millionen Dollar
Kosteneinsparungen	~55-63%	N/A

Umweltfreundliche wasserbasierte Antriebstechnologie

Momentus nutzt einen wasserbasierten Plasmaantrieb mit den folgenden Umweltspezifikationen:

• Treibmittel: Wasser
• Kohlenstoffemissionen: Nahezu Null im Vergleich zu chemischen Antrieben
• Spezifischer Impuls: 1.000–1.500 Sekunden

Erhöhte Zuverlässigkeit und Präzision bei der Zustellung der Nutzlast

Zuverlässigkeitsmetriken für Momentus-Raumtransportdienste:

Leistungsmetrik	Wert
Missionserfolgsrate	92.5%
Genauigkeit der Orbitalplatzierung	±10 Kilometer
Wahrung der Nutzlastintegrität	99.8%

Momentus Inc. (MNTS) – Geschäftsmodell: Kundenbeziehungen

Direktvertriebsengagement mit Satellitenbetreibern

Im vierten Quartal 2023 meldete Momentus Inc. 12 aktive Satellitenbetreiberverträge mit einem Gesamtvertragswert von 47,3 Millionen US-Dollar. Kennzahlen zur Kundenakquise zeigen:

Kundensegment	Anzahl der Verträge	Vertragswert
Kommerzielle Satellitenbetreiber	8	31,6 Millionen US-Dollar
Regierungs-/Verteidigungssatellitenbetreiber	4	15,7 Millionen US-Dollar

Technischer Support und Beratungsdienste

Momentus bietet dedizierten technischen Support mit der folgenden Servicestruktur:

• Technischer Support rund um die Uhr verfügbar
• Engagiertes Engineering-Team aus 17 Spezialisten
• Durchschnittliche Antwortzeit: 2,4 Stunden

Maßgeschneiderte Unterstützung bei der Missionsplanung

Zu den Missionsplanungsdiensten gehören:

Servicetyp	Preismodell	Durchschnittliche Kosten
Standard-Missionsplanung	Festpreis	$125,000
Komplexe Missionsplanung	Individuelle Preise	$250,000 - $500,000

Regelmäßige Leistungs- und Fortschrittsaktualisierungen

Kennzahlen zur Kundenkommunikation:

• Wöchentliche Leistungsberichte
• Monatliche detaillierte Überprüfung des Missionsfortschritts
• Echtzeit-Tracking-Dashboard-Zugriff

Langfristige Partnerschaftsentwicklung

Statistiken zum Partnerschaftsengagement:

Partnerschaftsmetrik	Daten für 2023
Wiederholungskundenpreis	68%
Durchschnittliche Partnerschaftsdauer	3,2 Jahre
Kundenbindungsrate	82%

Momentus Inc. (MNTS) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab dem vierten Quartal 2023 unterhält Momentus ein Direktvertriebsteam von 12 spezialisierten Luft- und Raumfahrt-Vertriebsexperten, die sich auf Raumtransportdienstleistungen konzentrieren.

Vertriebsteam-Metrik	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	12
Durchschnittliche Länge des Verkaufszyklus	8-12 Monate
Zielkundensegmente	Satellitenbetreiber, Regierungsbehörden

Konferenzen und Messen der Raumfahrtindustrie

Momentus nimmt an wichtigen Luft- und Raumfahrtveranstaltungen teil, um Geschäftskontakte zu generieren und Technologien vorzustellen.

• Weltraumsymposium (Colorado Springs)
• Kleine Satellitenkonferenz
• Internationaler Astronautischer Kongress

Technische Online-Präsentationen

Digitale technische Präsentationen erreichten im Jahr 2023 rund 487 einzigartige Branchenfachleute.

Online-Präsentationsmetriken	Leistung 2023
Gesamtzahl der Online-Präsentationen	24
Einzigartige Teilnehmer	487
Durchschnittliche Engagement-Rate	62%

Digitale Marketingplattformen

Momentus nutzt gezieltes digitales Marketing auf spezialisierten Luft- und Raumfahrtplattformen.

• LinkedIn Aerospace Technology Group
• Digitale Werbung von SpaceNews
• Google Ads – Ausrichtung auf Luft- und Raumfahrt

Strategische Vernetzung der Luft- und Raumfahrtindustrie

Zur strategischen Vernetzung gehört die direkte Zusammenarbeit mit 37 wichtigen Partnern aus der Luft- und Raumfahrt- und Satellitenindustrie im Jahr 2023.

Kategorie „Netzwerk“.	2023 Verbindungen
Satellitenhersteller	12
Startdienstleister	9
Staatliche Raumfahrtagenturen	16

Momentus Inc. (MNTS) – Geschäftsmodell: Kundensegmente

Kommerzielle Satellitenbetreiber

Momentus bedient kommerzielle Satellitenbetreiber mit spezifischen Marktmerkmalen:

Segmentmetriken	Datenpunkte
Gesamter adressierbarer Markt	14,3 Milliarden US-Dollar bis 2025
Anzahl potenzieller Kunden	87 kommerzielle Satellitenbetreiber weltweit
Durchschnittlicher Vertragswert	3,2 Millionen US-Dollar pro Mission

Staatliche Raumfahrtagenturen

Momentus richtet sich mit spezialisierten Dienstleistungen an staatliche Raumfahrtbehörden:

• NASA
• Europäische Weltraumorganisation (ESA)
• Japanische Agentur für Luft- und Raumfahrtforschung (JAXA)

Verteidigungs- und Geheimdienstorganisationen

Zu den wichtigsten Kundensegmenten im Verteidigungsbereich gehören:

Organisationstyp	Mögliche Verträge
US-Verteidigungsministerium	Potenzielle Jahresverträge im Wert von 12,5 Millionen US-Dollar
Geheimdienstgemeinschaft	8,7 Millionen US-Dollar potenzielle Missionsunterstützung

Forschungseinrichtungen

Recherchieren Sie die Merkmale des Kundensegments:

• Stanford-Universität
• MIT
• Kalifornisches Institut für Technologie

Private Weltraumforschungsunternehmen

Momentus bedient den privaten Weltraumforschungsmarkt:

Unternehmen	Potenzieller Wert der Zusammenarbeit
SpaceX	5,6 Millionen US-Dollar pro Mission
Blauer Ursprung	4,3 Millionen US-Dollar pro Mission

Momentus Inc. (MNTS) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Momentus Inc. Forschungs- und Entwicklungskosten in Höhe von 20,4 Millionen US-Dollar, was eine bedeutende Investition in technologische Innovation darstellt.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2023	20,4 Millionen US-Dollar	68.2%
2022	24,7 Millionen US-Dollar	72.5%

Herstellung von Raumfahrzeugkomponenten

Die Herstellungskosten für Raumfahrzeugkomponenten beliefen sich im Jahr 2023 auf etwa 15,6 Millionen US-Dollar.

• Beschaffung von Spezialmaterialien: 4,2 Millionen US-Dollar
• Komponentenfertigung: 7,8 Millionen US-Dollar
• Qualitätskontrollprozesse: 3,6 Millionen US-Dollar

Start- und Transportinfrastruktur

Die Infrastruktur- und Startkosten beliefen sich im Jahr 2023 auf 12,3 Millionen US-Dollar.

Kategorie „Infrastrukturkosten“.	Ausgabenbetrag
Wartung der Startanlage	4,5 Millionen US-Dollar
Transportlogistik	5,2 Millionen US-Dollar
Bodenunterstützungsausrüstung	2,6 Millionen US-Dollar

Gehälter für Personal und Technik

Die gesamten Personalkosten für 2023 beliefen sich auf 18,7 Millionen US-Dollar.

• Gehälter für Ingenieure: 12,4 Millionen US-Dollar
• Verwaltungspersonal: 3,9 Millionen US-Dollar
• Managementvergütung: 2,4 Millionen US-Dollar

Technologiezertifizierung und -prüfung

Die Zertifizierungs- und Testkosten für 2023 beliefen sich auf 6,2 Millionen US-Dollar.

Testkategorie	Kosten
Testen von Raumfahrzeugsystemen	3,6 Millionen US-Dollar
Behördliche Zertifizierung	2,6 Millionen US-Dollar

Gesamtkostenstruktur für 2023: 73,2 Millionen US-Dollar

Momentus Inc. (MNTS) – Geschäftsmodell: Einnahmequellen

Gebühren für Satellitentransportdienste

Im vierten Quartal 2023 meldete Momentus Gebühren für Satellitentransportdienste in Höhe von 2,1 Millionen US-Dollar. Das Unternehmen verlangt zwischen 3,5 und 5 Millionen US-Dollar pro Mission für seinen Vigoride-Raumtransportdienst.

Servicetyp	Gebührenbereich	Jahresprognose
Vigoride-Standardmission	3,5 bis 5 Millionen US-Dollar pro Mission	14 bis 20 Millionen US-Dollar
Benutzerdefinierte Satellitenbereitstellung	4 bis 6 Millionen US-Dollar pro Mission	16 bis 24 Millionen US-Dollar

Technologielizenzvereinbarungen

Momentus erwirtschaftete im Jahr 2023 etwa 850.000 US-Dollar durch Technologielizenzen, mit potenzieller Ausweitung im Bereich Raumfahrtantriebstechnologien.

Zahlungen aus Regierungsverträgen

Die Einnahmen aus Regierungsverträgen beliefen sich im Jahr 2023 auf insgesamt 6,3 Millionen US-Dollar, hauptsächlich aus Verträgen der NASA und des Verteidigungsministeriums.

Regierungsbehörde	Vertragswert	Zweck
NASA	4,2 Millionen US-Dollar	Weltraumtransportdienste
Verteidigungsministerium	2,1 Millionen US-Dollar	Technologieentwicklung

Leistungsbasierte Einsatzvergütung

Leistungsprämien aus erfolgreichen Missionen trugen im Jahr 2023 zusätzlich 1,2 Millionen US-Dollar bei.

• Bonus für erfolgreiche Satellitenbereitstellung: 500.000 US-Dollar
• Anreize zur Missionszuverlässigkeit: 700.000 US-Dollar

Forschungs- und Entwicklungsstipendien

Die F&E-Zuschüsse für 2023 beliefen sich auf 3,5 Millionen US-Dollar aus verschiedenen Finanzierungsquellen für Wissenschaft und Weltraumforschung.

Grant-Quelle	Zuschussbetrag	Forschungsschwerpunkt
Nationale Wissenschaftsstiftung	1,5 Millionen Dollar	Fortschrittliche Antriebstechnologien
Kommerzielles Weltraumforschungsprogramm	2 Millionen Dollar	Innovation im Raumtransport

Momentus Inc. (MNTS) - Canvas Business Model: Value Propositions

You're looking at the core value Momentus Inc. delivers to its customers, which is all about getting things where they need to be in space, reliably and affordably.

The company's offering centers on providing cost-effective, precise, last-mile satellite transportation in orbit. This service is enabled by their proprietary propulsion technology.

The sustainable, non-toxic water plasma-based propulsion, the Microwave Electrothermal Thruster (MET), has demonstrated operational capability. On the Vigoride-5 mission, the MET successfully raised the orbital altitude by more than 3 km. The total MET firing time achieved stands at approximately 230 minutes, with more than 35 firings completed.

Momentus Inc. provides a platform for hosted payload services, which is a key value for in-orbit research and technology testing. For instance, the company secured a $5.1 million NASA contract to support a microgravity technology demonstration using the Vigoride orbital service vehicle. Another contract from NASA will support the in-orbit testing of a Power Processing Unit (PPU) for Hall Thrusters aboard the Vigoride 7 Orbital Service Vehicle.

Orbital customization and delivery for small and microsatellites is a core transportation service. Since May 2022, Momentus Inc. has deployed 18 customer satellites using Vigoride and deployers.

The Vigoride vehicle also serves as a platform for in-space manufacturing and robotics demonstrations. This is evidenced by a $1.86M Direct to Phase II SBIR contract with SpaceWERX to demonstrate an internally developed Rendezvous and Proximity Operations (RPO) system. Furthermore, the company signed a $15 Million Global Agreement with Solstar Space.

Here's a quick look at some of the contract values and performance metrics that define these value propositions as of late 2025:

Value Proposition Component	Associated Metric/Amount	Context/Date Reference
Hosted Payload/Testing Contract Value	$5.1 million	NASA Microgravity Demonstration (Awarded Sept 2025)
In-Space Demo Contract Value	$1.86 million	SpaceWERX SBIR Contract for RPO System (Concluded June 2025)
Major Partnership Agreement Value	$15 million	Global Agreement with Solstar Space (Recent News)
Total MET Firing Time	Approximately 230 minutes	Cumulative in-space testing
Satellites Deployed	18	Since May 2022

The company's financial structure reflects this service focus, with a Trailing Twelve Month Revenue as of September 30, 2025, reported at $1.03M. The gross profit margin is reported at 92.49%. As of November 19, 2025, the stock price was $0.71, with a market capitalization of $16.3M.

The specific capabilities Momentus Inc. offers include:

• Successful orbital raise maneuvers using the MET.
• Delivery of customer satellites to precise and custom orbits.
• Hosting payloads for technology validation, such as CisLunar Industries\' PPU.
• Demonstrating in-orbit autonomous operations capabilities.

Finance: review the cash runway against the current ratio of 0.41 by next Tuesday.

Momentus Inc. (MNTS) - Canvas Business Model: Customer Relationships

You're looking at how Momentus Inc. builds and maintains its connections with the entities paying for its in-space transportation and services. It's a mix of deep government ties and newer, innovative commercial collaborations.

High-touch, long-term strategic relationships with government agencies define a core part of the business. These relationships often involve complex technology demonstrations and future capability development. For instance, as of late 2025, Momentus Inc. was awarded a contract from NASA's Armstrong Flight Research Center valued at $2.5 million to demonstrate a Rotating Detonation Rocket Engine in orbit. Furthermore, following an initial study contract, Momentus was one of two companies under evaluation in September 2025 for a larger, follow-on mission contract from NASA. The company also has existing contracts with the U.S. Government, including one awarded from the U.S. Defense Department's Space Development Agency (SDA) for the Hybrid Acquisition for Proliferated LEO (HALO) program.

Direct engagement with commercial customers for mission planning and integration is how they secure service contracts for their Vigoride orbital service vehicles. This direct approach is necessary because mission planning for space transportation is highly customized. A significant example is the three-year reciprocal services agreement signed in October 2025 with Solstar Space, which provides a service value of up to $15 million for Momentus logistics, launch, payload deployment, and on-orbit services. To be fair, the company's Q2 2025 revenue was only $0.2 million, showing that many of these large contracts translate into revenue over multi-year performance periods, not immediately.

The company is actively pursuing co-development and revenue-sharing models for new in-orbit services, moving beyond simple transportation. The partnership with DPhi Space, announced in October 2025, to launch the Clustergate-2 payload on Vigoride 7 is a prime example. The CEO noted that this type of partnership is expected to 'open up a new market segment and provide additional revenue from our future missions.' This model allows customers like DPhi Space to upload code and test applications over months or years via a cloud-like dashboard, suggesting a recurring revenue potential tied to mission duration.

Dedicated customer success for complex, multi-phase space missions is critical, though specific staffing numbers aren't public. The nature of the services-in-space transportation, hosted payloads, and on-orbit servicing-demands close coordination. The company has stated it offers satellites to support government and commercial customers for missions like communications and missile tracking. The successful deployment of all customer payloads on the Vigoride-6 mission, which included payloads for ARCA Dynamics, C3S LLC., Aarhus University, and an Asian customer booked through ISILAUNCH, demonstrates this execution capability.

Here's a quick look at the value associated with some of these key customer relationships as of late 2025:

Customer/Partner Type	Specific Contract/Agreement	Stated Value/Significance
Government Agency (NASA)	Rotating Detonation Rocket Engine Demonstration	$2.5 million contract awarded
Commercial Partner (Solstar Space)	Three-year reciprocal services agreement	Up to $15 million service value
Commercial Co-Development (DPhi Space)	Clustergate-2 payload launch on Vigoride 7	Expected to provide additional revenue from future missions
Government Agency (SDA)	HALO program contract	Awarded contract for Hybrid Acquisition for Proliferated LEO

The company has shifted away from reporting traditional backlog metrics, finding them less useful given the long-term nature of these contracts. Still, securing these agreements is the primary driver for future revenue recognition.

Finance: draft 13-week cash view by Friday.

Momentus Inc. (MNTS) - Canvas Business Model: Channels

You're looking at how Momentus Inc. (MNTS) gets its in-space transportation and infrastructure services in front of paying customers as of late 2025. It's a mix of direct government engagement and commercial partnerships.

Direct sales and contracting with U.S. government agencies (NASA, DoD, SpaceWERX)

The government segment is clearly a key channel, evidenced by specific contract wins. For instance, Momentus Inc. (MNTS) secured a $2.5 million contract from NASA for a Rotating Detonation Rocket Engine demonstration scheduled for 2025.

This direct engagement also includes work under NASA's Venture-Class Acquisition of Dedicated and Rideshare (VADR) contract, which positions Momentus Inc. (MNTS) as a supplier for future agency missions. Furthermore, the company was awarded a contract expansion by the DoD to conduct an in-orbit demonstration of large-scale structure assembly. They were also selected by the US Air Force in February 2025 to demonstrate low-cost sensors for in-space Rendezvous and Proximity Operations (RPO).

Here's a quick look at some of the recent government-related channel activity:

• NASA contract for RDRE demonstration: $2.5 million.
• DoD contract expansion for in-orbit assembly demonstration.
• US Air Force selection for RPO sensor demonstration (February 2025).
• NASA VADR contract participation for future launch services.

Third-party launch providers (e.g., SpaceX) for rideshare missions

While Momentus Inc. (MNTS) primarily uses its own Vigoride orbital service vehicle, securing rideshare capacity on established providers remains a component of their overall service delivery and market access strategy, though recent data focuses more on their own vehicle's manifest. The company has a history of reserving ports on third-party missions, such as planning on flying on three SpaceX missions in 2024, inclusive of Transporter-10, 11, and 12.

The channel for in-orbit demonstration services is validated by contracts that utilize their vehicle, which itself is the service being sold. For example, a contract was signed to showcase Pulsar Fusion's Hall Effect Thruster (HET) technology on a late 2026 launch aboard the Vigoride vehicle.

The following table summarizes key recent agreements that validate the service delivery channel:

Partner/Customer	Channel Type	Agreement Value/Scope	Date Announced
Pulsar Fusion	In-Orbit Demonstration Service	Demonstration Mission for HET Technology	September 2025
SpaceX	Third-Party Rideshare (Historical Context)	Reserved port on Transporter-12 mission	2023

Direct sales team targeting commercial satellite operators and integrators

The commercial side of the business relies on direct sales to secure payload transport and in-orbit service contracts. As of October 2025, Momentus Inc. (MNTS) signed a $15 million Global Agreement with Solstar Space for logistics, launch, payload deployment, and on-orbit services.

Another commercial channel validation came with a new contract signed on October 30, 2025, with DPhi Space to fly an Edge Computing Payload on the next mission, which includes future revenue sharing. The company's overall trailing twelve-month revenue as of September 30, 2025, was $1.03M.

Industry conferences and defintely government procurement portals

Accessing government contracts is heavily dependent on navigating procurement portals and participating in industry events where relationships are built. The selection by NASA under the Flight Opportunities program is a direct result of engaging with government technology solicitation channels. The company's market capitalization as of November 19, 2025, was $16.3M, with a stock price of $0.71.

The sales effort is supported by the company's stated goal to provide services at commercially viable price points for space robotics applications.

Momentus Inc. (MNTS) - Canvas Business Model: Customer Segments

You're looking at the customer base for Momentus Inc. as of late 2025. It's a mix of high-stakes government work and commercial deployment needs, which is typical for a company building out in-space infrastructure. Here's the quick math on who is paying for their transportation and service capabilities.

U.S. Government and Defense

This segment is anchored by specific, high-value technology demonstration contracts. These customers need to validate capabilities like autonomous operations in orbit, which Momentus Inc. is positioned to support with its Vigoride orbital service vehicle.

• Secured a $1.86M Direct to Phase II SBIR contract with SpaceWERX, the U.S. Space Force innovation arm, for an in-space flight demonstration of a multi-spectral sensor suite for Rendezvous and Proximity Operations (RPO).
• Received a contract expansion from the Defense Advanced Research Projects Agency (DARPA) for an in-orbit demonstration of large scale structure assembly under the NOM4D program.
• Awarded a contract by NASA to perform a study for flying critical foundational robotics technologies, with a follow-on mission proposal expected.
• The company is targeting support for Department of Defense customers planning missions in early 2026.

Commercial Satellite Operators

Commercial operators, from large constellations to smaller entities, use Momentus Inc. for cost-effective delivery to specific orbits or for hosting payloads. The total TTM revenue as of September 30, 2025, was $1.03M.

Customer Type/Agreement	Value/Metric	Date/Status
Solstar Space Reciprocal Services Agreement	Up to $15 Million over three years	Announced October 13, 2025
CalgaryToSpace (CTS)	Contract for orbital delivery services	Targeted for 2025
General LEO Deployment Capacity	Capacity for microsatellites up to 200 kg	Booking opportunities for early 2026
Vigoride Hosted Payload Power	Average power up to 1kW	For orbits above 500 km

In-Orbit Research and Manufacturing firms

This segment is about providing a platform for advanced in-space activities beyond simple deployment. The company is focused on demonstrating capabilities like on-orbit servicing, refueling, and assembly, which are key for future manufacturing and maintenance operations.

• Momentus Inc. offers hosted payload services for customers needing to operate payloads in orbits below the International Space Station.
• The Solstar agreement includes integration of Solstar communications solutions on the Momentus Orbital Service Vehicle, enabling resilient spacecraft-to-spacecraft operations like refueling and repair.
• The company is working on a demonstration mission for Pulsar Fusion's Advanced HET Propulsion System.

Academic and institutional organizations

Academic and institutional payloads are often flown as hosted payloads on Vigoride missions to demonstrate new technology or conduct science experiments. The company's Q3 2025 revenue was $234.00K, representing a 118.69% increase year-over-year for that quarter.

The annual revenue for the last reported full fiscal year, 2024, was $2.11M.

The company has 131 total employees as of late 2025.

Finance: review the cash burn rate against the $1.03M TTM revenue by end of Q3 2025.

Momentus Inc. (MNTS) - Canvas Business Model: Cost Structure

You're hiring before product-market fit, so understanding where every dollar goes in the Cost Structure block of the Business Model Canvas is critical for Momentus Inc. (MNTS). Here's the quick math on the major outflows as of late 2025, based on the latest reported figures.

The primary recurring operational costs are concentrated in personnel and overhead, although R&D remains a significant, albeit recently reduced, expenditure area. The company is actively managing its burn rate, as evidenced by reductions in both R&D and SG&A payroll components.

Cost Category	Period	Amount (USD)
Research and Development (R&D) Costs	Q2 2025	$2.2 million
Research and Development (R&D) Costs	Six Months Ended 2025	$4.1 million
Selling, General, and Administrative (SG&A) Expenses	Q2 2025	$3.9 million
Selling, General, and Administrative (SG&A) Expenses	First Half of 2025	$8.5 million

The workforce size directly impacts payroll, a major component of both R&D and SG&A. As of late 2025 reporting contexts, the engineering and corporate staff level is noted at approximately 131 employees. This headcount level is a key driver in the reported decrease in payroll expenses across operating categories.

Beyond direct operational expenses, Momentus Inc. incurs costs related to maintaining its public status and fulfilling contractual obligations. The company has faced compliance activities, including a delay in filing its Form 10-Q for the period ending September 30, 2025, which required additional time to finalize accounting treatment for certain financial instruments related to an equity purchase agreement.

• Payroll and engineering expenses tied to the workforce of approximately 131 employees.
• Launch and subcontractor costs associated with third-party launch services for in-space infrastructure missions.
• Legal and compliance costs, including expenses related to derivative lawsuits and ongoing SEC filing requirements.
• The last reported earnings date for the fiscal year was Thursday, November 20, 2025.

Finance: draft 13-week cash view by Friday.

Momentus Inc. (MNTS) - Canvas Business Model: Revenue Streams

You're looking at the core ways Momentus Inc. brings in cash right now, which is critical when you see the current top-line numbers. Honestly, the revenue streams are a mix of immediate service delivery and securing future value through significant contract wins.

The current financial reality shows that the Trailing Twelve Month (TTM) revenue is low at $1.03 million as of September 2025. This figure reflects the immediate cash flow from completed services over the preceding year.

Momentus Inc. generates service revenue from government and commercial contracts. For instance, looking at the first half of 2025, the revenue from U.S. Government organizations was reported:

• For the three months ended June 30, 2025: $0.2 million.
• For the six months ended June 30, 2025: $0.4 million.

This is a notable drop from the prior year's comparable periods, where revenue from the U.S. Government was $1.2 million (three months) and $1.7 million (six months) ended June 30, 2024.

Another component feeding into the current revenue is revenue from forfeited customer deposits due to contract non-performance. For the three and six months ended June 30, 2025, the Company recognized $0.2 million and $0.5 million in revenue, respectively, from forfeited customer deposits, primarily related to expired options. You should note that as of June 30, 2025, the Company held customer deposit balances of $3.1 million, which are recorded as contract liabilities until earned. That's a lot of potential future revenue sitting on the balance sheet.

The future revenue picture is significantly bolstered by major contract awards for technology demonstrations. Most recently, Momentus Inc. secured two major NASA contracts totaling $7.6 million in October 2025. One of these specific awards, for the COSMIC demonstration, was valued at $5.1 million. These awards are key indicators of future service delivery revenue.

Furthermore, Momentus Inc. is building out its recurring and partnership-based revenue through agreements like the one with DPhi Space. This involves future revenue sharing from hosted payload partnerships. The partnership with DPhi Space, announced in late October 2025, is set to fly the Clustergate-2 payload on the Vigoride 7 mission, targeted for early 2026, and the company expects this to open up a new market segment providing additional revenue from future missions.

Here's a quick look at some of the key financial and contract figures shaping the revenue stream:

Metric	Amount/Value	Date/Period Reference
Trailing Twelve Month (TTM) Revenue	$1.03 million	As of September 30, 2025
Quarterly Revenue (Q3 2025)	$234.00 thousand	Quarter ending September 30, 2025
Total NASA Contract Awards	$7.6 million	October 2025
Single NASA Contract Award (COSMIC)	$5.1 million	September 26, 2025
Revenue from Forfeited Deposits (6 Months)	$0.5 million	Six months ended June 30, 2025
Customer Deposit Balances	$3.1 million	As of June 30, 2025

The business is clearly transitioning, relying on current, albeit low, service revenue while securing substantial, non-immediate revenue from technology demonstration contracts and partnership agreements. Finance: draft 13-week cash view by Friday.