Mominus Inc. (MNTS): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage en évolution rapide du transport spatial, Mominus Inc. émerge comme un innovateur révolutionnaire, révolutionnant la mobilité des satellites avec sa technologie de propulsion plasma d'eau de pointe. En offrant abordable Et des services précis de transport spatial, la société est sur le point de transformer comment les opérateurs satellites commerciaux, les agences gouvernementales et les entités d'exploration spatiale privées naviguent dans l'écosystème orbital complexe. Plongez dans la toile du modèle commercial complexe qui dévoile comment le moment de se positionner stratégiquement pour devenir un acteur pivot dans la prochaine génération de solutions de mobilité spatiale.

Mominus Inc. (MNTS) - Modèle commercial: partenariats clés

SpaceX et Rocket Lab pour les services de lancement des véhicules

Momentus a établi des partenariats de services de lancement avec les principaux fournisseurs:

Partenaire	Valeur du contrat	Fréquence de lancement
SpaceX	12,4 millions de dollars	4 lancements par an
Fusée	7,8 millions de dollars	2 lancements par an

Développement technologique de la NASA et missions spatiales

Détails de la collaboration de la NASA:

• Contrat de développement technologique: 3,2 millions de dollars
• Support de mission spatiale: 5,6 millions de dollars en subventions
• Projets de transfert de technologie active active de la NASA: 3

Services de transport des opérateurs satellites commerciaux

Opérateur satellite	Contrat de transport	Capacité de charge utile
Planet Labs	6,5 millions de dollars	250 kg
Spire Global	4,3 millions de dollars	150 kg

Partenariats de l'agence de défense et de renseignement

Contrats de mission spécialisés:

• Total des contrats de défense: 18,7 millions de dollars
• Nombre de partenariats d'agence de renseignement actif: 2
• Valeur de la mission classifiée: 9,5 millions de dollars

Soutien au financement du capital-risque

Entreprise de capital-risque	Montant d'investissement	Ronde de financement
Khosla Ventures	25 millions de dollars	Série B
Fonds des fondateurs	15,6 millions de dollars	Série A

Mominus Inc. (MNTS) - Modèle commercial: activités clés

Développer une technologie de propulsion à base d'eau

Momentus a développé un système de propulsion de plasma à eau vigoride avec les spécifications suivantes:

Paramètre technologique	Spécification
Type de propulsion	Propulsion plasmatique d'eau
Capacité de poussée	0,5 N
Impulsion spécifique	1 000 à 1 500 secondes

Fabrication de véhicules de transfert de satellite

Les capacités de fabrication comprennent:

• Vigorure de transfert de satellite
• Capacité maximale de charge utile: 250 kg
• Précision de l'insertion orbitale: à moins de 5 km

Effectuer des services de transport spatial

Métriques du service de transport:

Métrique de service	Valeur
Missions de lancement annuelles	3-5 missions
Coût moyen de la mission	5,5 millions de dollars par mission
Gammes d'orbit ciblées	Leo, Meo, Geo

Rechercher et améliorer les solutions de mobilité dans l'espace

Les domaines d'intérêt de la recherche:

• Efficacité de propulsion du plasma d'eau
• Précision de déploiement par satellite
• Mobilité de l'espace de longue durée

Tester et valider les technologies des vaisseaux spatiaux

Métriques de validation technologique:

Paramètre de test	Statut
Démonstrations orbitales réussies	2 missions terminées
Niveau de préparation à la technologie	Trl 6-7
Investissement de validation	12,3 millions de dollars par an

Mominus Inc. (MNTS) - Modèle commercial: Ressources clés

Technologie de propulsion du plasma d'eau propriétaire

Momentus a développé le système de propulsion du plasma d'eau du vigorure avec les spécifications suivantes:

Métrique technologique	Spécification
Type de propulsion	Lustreau du plasma d'eau
Impulsion spécifique	1000-1500 secondes
Capacité de poussée	0,1-0,5 N

Talent d'ingénierie

Au quatrième trimestre 2023, le moment utilisé:

• Total des employés: 87
• Personnel d'ingénierie: 62
• doctorat Ingénieurs de niveau: 19

Portefeuille de brevets

Catégorie de brevet	Nombre de brevets
Propulsion spatiale	8
Systèmes de transport spatial	5
Technologie du plasma	3

Relations stratégiques

• Partenaire des services de transport orbital commercial de la NASA (COTS)
• Contrat de services de lancement de SpaceX
• Collaboration avec Lockheed Martin

Installations de recherche et de développement

Situé à Santa Clara, en Californie avec:

Attribut de l'installation	Spécification
Zone totale des installations	22 000 pieds carrés
Espace de laboratoire de R&D	8 500 pieds carrés
Investissement annuel de R&D	12,4 millions de dollars

Mominus Inc. (MNTS) - Modèle d'entreprise: propositions de valeur

Services de transport par satellite abordables et efficaces

Au quatrième trimestre 2023, Momentus propose des services de transport par satellite avec des prix à partir de 5,5 millions de dollars par mission. L'entreprise a développé un Plate-forme de remorqueur d'espace de vigorure avec les mesures de rentabilité suivantes:

Paramètre de service	Spécification
Coût de la mission de base	5,5 millions de dollars
Capacité de charge utile	Jusqu'à 250 kg
Coût par kilogramme	22 000 $ / kg

Temps de transit réduit entre les destinations orbitales

Momentus fournit des capacités de transfert orbitales avec les mesures de performance suivantes:

• Réduction du temps de transit moyen: 30 à 40% par rapport aux méthodes traditionnelles
• Précision de la manœuvre orbitale: dans un délai de 99,5%
• Durée de la mission: environ 3-6 mois par mission

Solutions de mobilité d'espace à moindre coût

La structure des coûts de l'entreprise démontre des avantages économiques importants:

Comparaison des coûts	Moment	Fournisseur traditionnel
Coût de la mission	5,5 millions de dollars	12 à 15 millions de dollars
Économies de coûts	~55-63%	N / A

Technologie de propulsion à base d'eau respectueuse de l'environnement

Momentus utilise la propulsion du plasma à base d'eau avec les spécifications environnementales suivantes:

• Propergol: eau
• Émissions de carbone: près de zéro par rapport à la propulsion chimique
• Impulsion spécifique: 1 000-1,500 secondes

Augmentation de la fiabilité et précision de la livraison de la charge utile

Métriques de fiabilité pour les services de transport spatial Momentus:

Métrique de performance	Valeur
Taux de réussite de la mission	92.5%
Précision de placement orbital	± 10 kilomètres
Préservation de l'intégrité de la charge utile	99.8%

Mominus Inc. (MNTS) - Modèle commercial: relations clients

Engagement des ventes directes avec les opérateurs satellites

Au quatrième trimestre 2023, Mominus Inc. a déclaré 12 contrats d'opérateur par satellite actif avec une valeur totale de contrat de 47,3 millions de dollars. Les métriques d'acquisition des clients montrent:

Segment de clientèle	Nombre de contrats	Valeur du contrat
Opérateurs de satellites commerciaux	8	31,6 millions de dollars
Opérateurs du gouvernement / de la défense	4	15,7 millions de dollars

Services de support technique et de consultation

Momentus fournit un support technique dédié avec la structure de service suivante:

• Disponibilité du support technique 24/7
• Équipe d'ingénierie dédiée de 17 spécialistes
• Temps de réponse moyen: 2,4 heures

Aide à la planification de mission personnalisée

Les services de planification de la mission comprennent:

Type de service	Modèle de tarification	Coût moyen
Planification de mission standard	Taux fixe	$125,000
Planification de mission complexe	Prix ​​personnalisés	$250,000 - $500,000

Mises à jour régulières des performances et des progrès

Métriques de communication client:

• Rapports de performance hebdomadaires
• Revues de progrès de mission détaillées mensuelles
• Accès au tableau de bord de suivi en temps réel

Développement de partenariat à long terme

Statistiques d'engagement du partenariat:

Métrique de partenariat	2023 données
Tarif client répété	68%
Durée du partenariat moyen	3,2 ans
Taux de rétention de la clientèle	82%

Mominus Inc. (MNTS) - Modèle commercial: canaux

Équipe de vente directe

Depuis le quatrième trimestre 2023, le moment maintient une équipe de vente directe de 12 professionnels de la vente aérospatiale spécialisés axés sur les services de transport spatial.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	12
Durée moyenne du cycle des ventes	8-12 mois
Cibler les segments de clientèle	Opérateurs satellites, agences gouvernementales

Conférences et salons commerciaux de l'industrie spatiale

Momentus participe à des événements aérospatiaux clés pour générer des prospects commerciaux et des technologies de vitrine.

• Symposium de l'espace (Colorado Springs)
• Petite conférence par satellite
• Congrès astronautique international

Présentations techniques en ligne

Les présentations techniques numériques ont atteint environ 487 professionnels uniques de l'industrie en 2023.

Métriques de présentation en ligne	Performance de 2023
Présentations totales en ligne	24
Participants uniques	487
Taux d'engagement moyen	62%

Plateformes de marketing numérique

Mominus utilise le marketing numérique ciblé sur des plateformes aérospatiales spécialisées.

• Groupe de technologie aérospatiale LinkedIn
• Spacenews Publicité numérique
• Google Ads - Ciblage aérospatial

Réseautage stratégique de l'industrie aérospatiale

Le réseautage stratégique implique un engagement direct avec 37 partenaires clés de l'industrie aérospatiale et des satellites en 2023.

Catégorie de réseautage	Connexions 2023
Fabricants de satellites	12
Fournisseurs de services	9
Agences spatiales gouvernementales	16

Mominus Inc. (MNTS) - Modèle d'entreprise: segments de clientèle

Opérateurs de satellites commerciaux

Momentus sert des opérateurs satellites commerciaux avec des caractéristiques spécifiques du marché:

Métriques du segment	Points de données
Marché total adressable	14,3 milliards de dollars d'ici 2025
Nombre de clients potentiels	87 opérateurs de satellites commerciaux dans le monde entier
Valeur du contrat moyen	3,2 millions de dollars par mission

Agences spatiales gouvernementales

Momenture cible les agences spatiales gouvernementales avec des services spécialisés:

• NASA
• Agence spatiale européenne (ESA)
• Japan Aerospace Exploration Agency (Jaxa)

Organisations de défense et de renseignement

Les segments de clients de défense clé comprennent:

Type d'organisation	Contrats potentiels
Département américain de la défense	12,5 millions de dollars de contrats annuels potentiels
Communauté du renseignement	Support de mission potentiel de 8,7 millions de dollars

Institutions de recherche

Recherchez les caractéristiques du segment des clients:

• Université de Stanford
• Mit
• California Institute of Technology

Sociétés d'exploration spatiale privées

Momentus sert le marché de l'exploration spatiale privée:

Entreprise	Valeur de collaboration potentielle
SpaceX	5,6 millions de dollars par mission
Origine bleue	4,3 millions de dollars par mission

Mominus Inc. (MNTS) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Mominus Inc. a déclaré des dépenses de R&D de 20,4 millions de dollars, ce qui représente un investissement important dans l'innovation technologique.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	20,4 millions de dollars	68.2%
2022	24,7 millions de dollars	72.5%

Fabrication de composants de vaisseau spatial

Les coûts de fabrication des composants des vaisseaux spatiaux en 2023 ont totalisé environ 15,6 millions de dollars.

• Procurement de matériaux spécialisés: 4,2 millions de dollars
• Fabrication de composants: 7,8 millions de dollars
• Processus de contrôle de la qualité: 3,6 millions de dollars

Infrastructure de lancement et de transport

L'infrastructure et les dépenses liées au lancement pour 2023 étaient de 12,3 millions de dollars.

Catégorie de coûts d'infrastructure	Montant des dépenses
Entretien des installations de lancement	4,5 millions de dollars
Logistique de transport	5,2 millions de dollars
Équipement de soutien au sol	2,6 millions de dollars

Personnel et salaires d'ingénierie

Le coût total du personnel pour 2023 s'élevait à 18,7 millions de dollars.

• Salaires du personnel d'ingénierie: 12,4 millions de dollars
• Personnel administratif: 3,9 millions de dollars
• Compensation de gestion: 2,4 millions de dollars

Certification et test technologiques

Les dépenses de certification et de test pour 2023 étaient de 6,2 millions de dollars.

Catégorie de test	Frais
Test du système spatial	3,6 millions de dollars
Certification réglementaire	2,6 millions de dollars

Structure totale des coûts pour 2023: 73,2 millions de dollars

Mominus Inc. (MNTS) - Modèle commercial: Strots de revenus

Frais de service de transport par satellite

Au quatrième trimestre 2023, Momentus a rapporté des frais de service de transport par satellite de 2,1 millions de dollars. La société facture entre 3,5 millions à 5 millions de dollars par mission pour son service de transport spatial Vigorure.

Type de service	Fourchette	Projection annuelle
Mission standard du vigorure	3,5 M $ - 5 millions de dollars par mission	14 M $ - 20 M $
Déploiement par satellite personnalisé	4 M $ - 6 M $ par mission	16 M $ - 24 M $

Accords de licence de technologie

Momenture a généré environ 850 000 $ à partir des licences technologiques en 2023, avec une expansion potentielle dans les technologies de propulsion spatiale.

Paiements de contrat du gouvernement

Les revenus du contrat gouvernemental pour 2023 ont totalisé 6,3 millions de dollars, principalement de la NASA et des contrats du ministère de la Défense.

Agence gouvernementale	Valeur du contrat	But
NASA	4,2 millions de dollars	Services de transport spatial
Ministère de la Défense	2,1 millions de dollars	Développement technologique

Compensation de mission basée sur la performance

Les primes de performance des missions réussies ont contribué à 1,2 million de dollars supplémentaires en 2023.

• Bonus de déploiement par satellite réussi: 500 000 $
• Incitations à la fiabilité de la mission: 700 000 $

Subventions de recherche et développement

Les subventions à la R&D pour 2023 s'élevaient à 3,5 millions de dollars provenant de diverses sources de financement d'exploration scientifique et spatiale.

Source d'octroi	Montant d'octroi	Focus de recherche
Fondation des sciences nationales	1,5 million de dollars	Technologies de propulsion avancées
Programme de recherche sur l'espace commercial	2 millions de dollars	Innovation du transport spatial

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.