Momentus Inc. (MNTS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución del transporte espacial, Momentus Inc. surge como un innovador innovador, revolucionando la movilidad satelital con su tecnología de propulsión de plasma de agua de vanguardia. Ofreciendo asequible Y los servicios precisos de transporte espacial, la compañía está preparada para transformar cómo los operadores satelitales comerciales, las agencias gubernamentales y las entidades de exploración espacial privada navegan por el complejo ecosistema orbital. Sumérgete en el intrincado lienzo de modelo de negocio que revela cómo Momentus se está posicionando estratégicamente para convertirse en un jugador fundamental en la próxima generación de soluciones de movilidad espacial.

Momentus Inc. (MNTS) - Modelo de negocios: asociaciones clave

SpaceX y Rocket Lab para servicios de lanzamiento de vehículos

Momentus ha establecido asociaciones de servicio de lanzamiento con proveedores clave:

Pareja	Valor de contrato	Frecuencia de lanzamiento
Spacex	$ 12.4 millones	4 lanzamientos por año
Laboratorio de cohete	$ 7.8 millones	2 lanzamientos por año

Desarrollo de tecnología de la NASA y misiones espaciales

Detalles de colaboración de la NASA:

• Contrato de desarrollo tecnológico: $ 3.2 millones
• Apoyo a la misión espacial: $ 5.6 millones en subvenciones
• Proyectos activos de transferencia de tecnología activa de la NASA: 3

Servicios de transporte de operadores satelitales comerciales

Operador satelital	Contrato de transporte	Capacidad de carga útil
Planet Labs	$ 6.5 millones	250 kg
Spire Global	$ 4.3 millones	150 kg

Asociaciones de la agencia de defensa e inteligencia

Contratos misioneros especializados:

• Contratos de defensa totales: $ 18.7 millones
• Número de asociaciones de agencia de inteligencia activa: 2
• Valor de misión clasificado: $ 9.5 millones

Soporte de financiación de capital de riesgo

Empresa de capital de riesgo	Monto de la inversión	Ronda de financiación
Khosla Ventures	$ 25 millones	Serie B
Fondo de Fundadores	$ 15.6 millones	Serie A

Momentus Inc. (MNTS) - Modelo de negocio: actividades clave

Desarrollo de la tecnología de propulsión a base de agua

Momentus desarrolló el sistema de propulsión de plasma de agua de vigoruro con las siguientes especificaciones:

Parámetro tecnológico	Especificación
Tipo de propulsión	Propulsión de plasma de agua
Capacidad de empuje	0.5 N
Impulso específico	1,000-1,500 segundos

Fabricación de vehículos de transferencia de satélite

Las capacidades de fabricación incluyen:

• Vigoruro de transferencia de satélite
• Capacidad máxima de carga útil: 250 kg
• Precisión de inserción orbital: dentro de 5 km

Realización de servicios de transporte espacial

Métricas de servicio de transporte:

Métrico de servicio	Valor
Misiones anuales de lanzamiento	3-5 misiones
Costo de misión promedio	$ 5.5 millones por misión
Rangos de órbita dirigida	Leo, Meo, Geo

Investigar y mejorar las soluciones de movilidad en el espacio

Áreas de enfoque de investigación:

• Eficiencia de propulsión de plasma de agua
• Precisión de implementación de satélite
• Movilidad espacial de larga duración

Prueba y validación de tecnologías de naves espaciales

Métricas de validación de tecnología:

Parámetro de prueba	Estado
Manifestaciones orbitales exitosas	2 misiones completadas
Nivel de preparación tecnológica	TRL 6-7
Inversión de validación	$ 12.3 millones anuales

Momentus Inc. (MNTS) - Modelo de negocio: recursos clave

Tecnología de propulsión de plasma de agua patentada

Momentus desarrolló el sistema de propulsión de plasma de agua vigoruro con las siguientes especificaciones:

Métrica de tecnología	Especificación
Tipo de propulsión	Propulsor de plasma de agua
Impulso específico	1000-1500 segundos
Capacidad de empuje	0.1-0.5 N

Talento de ingeniería

A partir del cuarto trimestre de 2023, el momento empleado:

• Total de empleados: 87
• Personal de ingeniería: 62
• Doctor en Filosofía. Ingenieros de nivel: 19

Cartera de patentes

Categoría de patente	Número de patentes
Propulsión de la nave espacial	8
Sistemas de transporte espacial	5
Tecnología de plasma	3

Relaciones estratégicas

• Socio de Servicios de Transporte Orbital Comercial (COTS) de la NASA
• Acuerdo de servicios de lanzamiento de SpaceX
• Colaboración con Lockheed Martin

Investigaciones y instalaciones de desarrollo

Ubicado en Santa Clara, California con:

Atributo de instalación	Especificación
Área total de la instalación	22,000 pies cuadrados
Espacio de laboratorio de I + D	8,500 pies cuadrados
Inversión anual de I + D	$ 12.4 millones

Momentus Inc. (MNTS) - Modelo de negocio: propuestas de valor

Servicios de transporte satelital asequibles y eficientes

A partir del cuarto trimestre de 2023, Momentus ofrece servicios de transporte satelital con precios que comienzan en $ 5.5 millones por misión. La compañía ha desarrollado un Plataforma de tirón espacial vigoruro Con las siguientes métricas de rentabilidad:

Parámetro de servicio	Especificación
Costo de misión base	$ 5.5 millones
Capacidad de carga útil	Hasta 250 kg
Costo por kilogramo	$ 22,000/kg

Tiempo de tránsito reducido entre destinos orbitales

Momentus proporciona capacidades de transferencia orbital con las siguientes métricas de rendimiento:

• Reducción promedio del tiempo de tránsito: 30-40% en comparación con los métodos tradicionales
• Precisión de maniobra orbital: dentro del 99.5% de precisión
• Duración de la misión: aproximadamente 3-6 meses por misión

Soluciones de movilidad espacial de menor costo

La estructura de costos de la compañía demuestra importantes ventajas económicas:

Comparación de costos	Momento	Proveedor tradicional
Costo de misión	$ 5.5 millones	$ 12-15 millones
Ahorro de costos	~55-63%	N / A

Tecnología de propulsión a base de agua ecológica

Momentus utiliza la propulsión de plasma a base de agua con las siguientes especificaciones ambientales:

• Propulsor: agua
• Emisiones de carbono: cerca de cero en comparación con la propulsión química
• Impulso específico: 1,000-1,500 segundos

Aumento de la fiabilidad y precisión de la entrega de carga útil

Métricas de confiabilidad para Momentus Space Transportation Services:

Métrico de rendimiento	Valor
Tasa de éxito de la misión	92.5%
Precisión de colocación orbital	± 10 kilómetros
Preservación de integridad de carga útil	99.8%

Momentus Inc. (MNTS) - Modelo de negocios: relaciones con los clientes

Compromiso directo de ventas con operadores satelitales

A partir del cuarto trimestre de 2023, Momentus Inc. reportó 12 contratos de operador satelital activo con un valor total del contrato de $ 47.3 millones. Métricos de adquisición de clientes Muestra:

Segmento de clientes	Número de contratos	Valor de contrato
Operadores satelitales comerciales	8	$ 31.6 millones
Operadores de satélite gubernamental/de defensa	4	$ 15.7 millones

Soporte técnico y servicios de consulta

Momentus proporciona soporte técnico dedicado con la siguiente estructura de servicio:

• Disponibilidad de soporte técnico 24/7
• Equipo de ingeniería dedicado de 17 especialistas
• Tiempo de respuesta promedio: 2.4 horas

Asistencia de planificación de misión personalizada

Los servicios de planificación de la misión incluyen:

Tipo de servicio	Modelo de precios	Costo promedio
Planificación de misión estándar	Tasa fija	$125,000
Planificación de misión compleja	Precios personalizados	$250,000 - $500,000

Actualizaciones regulares de rendimiento y progreso

Métricas de comunicación del cliente:

• Informes de rendimiento semanales
• Revisiones de progreso de la misión detallada mensual
• Acceso de tablero de seguimiento en tiempo real

Desarrollo de la asociación a largo plazo

Estadísticas de participación de la asociación:

Métrico de asociación	2023 datos
Tarifa de cliente repetida	68%
Duración promedio de la asociación	3.2 años
Tasa de retención de clientes	82%

Momentus Inc. (MNTS) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, Momentus mantiene un equipo de ventas directo de 12 profesionales especializados de ventas aeroespaciales centrados en los servicios de transporte espacial.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	12
Duración del ciclo de ventas promedio	8-12 meses
Segmentos de clientes objetivo	Operadores satelitales, agencias gubernamentales

Conferencias de la industria espacial y ferias comerciales

Momentus participa en eventos aeroespaciales clave para generar clientes potenciales y tecnologías de exhibición.

• Simposio espacial (Colorado Springs)
• Conferencia satélite pequeña
• Congreso astronáutico internacional

Presentaciones técnicas en línea

Las presentaciones técnicas digitales alcanzaron aproximadamente 487 profesionales de la industria únicos en 2023.

Métricas de presentación en línea	2023 rendimiento
Presentaciones totales en línea	24
Asistentes únicos	487
Tasa de compromiso promedio	62%

Plataformas de marketing digital

Momentus utiliza marketing digital dirigido en plataformas aeroespaciales especializadas.

• LinkedIn Aerospace Technology Group
• Publicidad digital de Spacenews
• ANUNCIOS DE GOOGLE - ACOPACIÓN A AERSOPACE

Redes estratégicas de la industria aeroespacial

La creación de redes estratégicas implica un compromiso directo con 37 socios clave de la industria aeroespacial y satelital en 2023.

Categoría de redes	2023 conexiones
Fabricantes de satélite	12
Lanzamiento de proveedores de servicios	9
Agencias espaciales gubernamentales	16

Momentus Inc. (MNTS) - Modelo de negocio: segmentos de clientes

Operadores satelitales comerciales

Momentus sirve a operadores satelitales comerciales con características específicas del mercado:

Métricas de segmento	Puntos de datos
Mercado total direccionable	$ 14.3 mil millones para 2025
Número de clientes potenciales	87 operadores satelitales comerciales a nivel mundial
Valor de contrato promedio	$ 3.2 millones por misión

Agencias espaciales gubernamentales

Momentus apunta a las agencias espaciales gubernamentales con servicios especializados:

• NASA
• Agencia Espacial Europea (ESA)
• Agencia de Exploración Aeroespacial de Japón (Jaxa)

Organizaciones de defensa e inteligencia

Los segmentos de clientes de defensa clave incluyen:

Tipo de organización	Contratos potenciales
Departamento de Defensa de los Estados Unidos	$ 12.5 millones posibles contratos anuales
Comunidad de inteligencia	$ 8.7 millones Potencial de apoyo de la misión

Instituciones de investigación

Investigación de características del segmento de clientes:

• Universidad de Stanford
• MIT
• Instituto de Tecnología de California

Empresas de exploración espacial privadas

Momentus sirve al mercado privado de exploración espacial:

Compañía	Valor de colaboración potencial
Spacex	$ 5.6 millones por misión
Origen azul	$ 4.3 millones por misión

Momentus Inc. (MNTS) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Momentus Inc. reportó gastos de I + D de $ 20.4 millones, lo que representa una inversión significativa en innovación tecnológica.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 20.4 millones	68.2%
2022	$ 24.7 millones	72.5%

Fabricación de componentes de la nave espacial

Los costos de fabricación para los componentes de la nave espacial en 2023 totalizaron aproximadamente $ 15.6 millones.

• Adquisición de materiales especializados: $ 4.2 millones
• Fabricación de componentes: $ 7.8 millones
• Procesos de control de calidad: $ 3.6 millones

Infraestructura de lanzamiento y transporte

La infraestructura y los gastos relacionados con el lanzamiento para 2023 fueron de $ 12.3 millones.

Categoría de costos de infraestructura	Monto del gasto
Mantenimiento de la instalación de lanzamiento	$ 4.5 millones
Logística de transporte	$ 5.2 millones
Equipo de soporte de tierra	$ 2.6 millones

Salarios de personal e ingeniería

Los costos totales de personal para 2023 ascendieron a $ 18.7 millones.

• Salarios del personal de ingeniería: $ 12.4 millones
• Personal administrativo: $ 3.9 millones
• Compensación de gestión: $ 2.4 millones

Certificación y prueba de tecnología

Los gastos de certificación y prueba para 2023 fueron de $ 6.2 millones.

Categoría de prueba	Gastos
Prueba del sistema de naves espaciales	$ 3.6 millones
Certificación regulatoria	$ 2.6 millones

Estructura de costos totales para 2023: $ 73.2 millones

Momentus Inc. (MNTS) - Modelo de negocios: flujos de ingresos

Tarifas de servicio de transporte satelital

A partir del cuarto trimestre de 2023, Momentus informó tarifas del servicio de transporte satelital de $ 2.1 millones. La compañía cobra entre $ 3.5 millones a $ 5 millones por misión por su servicio de transporte espacial de vigoruro.

Tipo de servicio	Rango de tarifas	Proyección anual
Misión estándar de vigoruro	$ 3.5M - $ 5M por misión	$ 14M - $ 20M
Implementación de satélite personalizado	$ 4M - $ 6M por misión	$ 16M - $ 24M

Acuerdos de licencia de tecnología

Momentus generó aproximadamente $ 850,000 a partir de la licencia de tecnología en 2023, con una posible expansión en tecnologías de propulsión espacial.

Pagos del contrato gubernamental

Los ingresos por contrato del gobierno para 2023 totalizaron $ 6.3 millones, principalmente de la NASA y los contratos del Departamento de Defensa.

Agencia gubernamental	Valor de contrato	Objetivo
NASA	$ 4.2 millones	Servicios de transporte espacial
Ministerio de defensa	$ 2.1 millones	Desarrollo tecnológico

Compensación de misión basada en el rendimiento

Los bonos de rendimiento de misiones exitosas contribuyeron con $ 1.2 millones adicionales en 2023.

• Bonificación de implementación satelital exitosa: $ 500,000
• Incentivos de confiabilidad de la misión: $ 700,000

Subvenciones de investigación y desarrollo

Las subvenciones de I + D para 2023 ascendieron a $ 3.5 millones de varias fuentes de financiación científica y de exploración espacial.

Fuente de subvenciones	Monto de subvención	Enfoque de investigación
Fundación Nacional de Ciencias	$ 1.5 millones	Tecnologías de propulsión avanzadas
Programa de investigación espacial comercial	$ 2 millones	Innovación del transporte espacial

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.