Momentus Inc. (MNTs): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução do transporte espacial, a Momentus Inc. surge como um inovador inovador, revolucionando a mobilidade do satélite com sua tecnologia de propulsão de plasma de água de ponta. Oferecendo acessível e serviços precisos de transporte espacial, a empresa está pronta para transformar como os operadores comerciais de satélite, agências governamentais e entidades de exploração espacial privadas navegam no complexo ecossistema orbital. Mergulhe na intrincada tela do modelo de negócios que revela como o Momentus está se posicionando estrategicamente para se tornar um jogador fundamental na próxima geração de soluções de mobilidade espacial.

Momentus Inc. (MNTs) - Modelo de Negócios: Principais Parcerias

SpaceX e Rocket Lab para serviços de veículos de lançamento

A Momentus estabeleceu parcerias de serviço de lançamento com os principais fornecedores:

Parceiro	Valor do contrato	Frequência de lançamento
SpaceX	US $ 12,4 milhões	4 lançamentos por ano
Rocket Lab	US $ 7,8 milhões	2 lançamentos por ano

NASA Desenvolvimento de Tecnologia e Missões Espaciais

Detalhes da colaboração da NASA:

• Contrato de Desenvolvimento de Tecnologia: US $ 3,2 milhões
• Suporte da missão espacial: US $ 5,6 milhões em subsídios
• Projetos atuais de transferência de tecnologia da NASA: 3

Serviços de transporte de operadores de satélite comerciais

Operador de satélite	Contrato de transporte	Capacidade de carga útil
Planet Labs	US $ 6,5 milhões	250 kg
Spire Global	US $ 4,3 milhões	150 kg

Parcerias da Agência de Defesa e Inteligência

Contratos de missão especializados:

• Contratos totais de defesa: US $ 18,7 milhões
• Número de parcerias da agência de inteligência ativa: 2
• Valor da missão classificada: US $ 9,5 milhões

Suporte de financiamento de capital de risco

Empresa de capital de risco	Valor do investimento	Rodada de financiamento
Khosla Ventures	US $ 25 milhões	Série B.
Fundo dos Fundadores	US $ 15,6 milhões	Série A.

Momentus Inc. (MNTs) - Modelo de Negócios: Atividades -chave

Desenvolvimento de tecnologia de propulsão baseada em água

O Momentus desenvolveu o sistema de propulsão de plasma de vigorida com as seguintes especificações:

Parâmetro de tecnologia	Especificação
Tipo de propulsão	Propulsão de plasma de água
Capacidade de impulso	0,5 n
Impulso específico	1.000-1.500 segundos

Veículos de transferência de satélite de fabricação

Os recursos de fabricação incluem:

• Veículo de transferência de satélite de vigores
• Capacidade máxima de carga útil: 250 kg
• Precisão de inserção orbital: dentro de 5 km

Conduzindo serviços de transporte espacial

Métricas do Serviço de Transporte:

Métrica de serviço	Valor
Missões de lançamento anual	3-5 missões
Custo médio da missão	US $ 5,5 milhões por missão
Faixas de órbita direcionadas	Leo, Meo, Geo

Pesquisando e melhorando as soluções de mobilidade do espaço

Áreas de foco de pesquisa:

• Eficiência de propulsão de plasma de água
• Precisão de implantação de satélite
• Mobilidade do espaço de longa duração

Testando e validando tecnologias de naves

Métricas de validação de tecnologia:

Parâmetro de teste	Status
Demonstrações orbitais bem -sucedidas	2 missões completas
Nível de prontidão da tecnologia	TRL 6-7
Investimento de validação	US $ 12,3 milhões anualmente

Momentus Inc. (MNTs) - Modelo de Negócios: Recursos -Principais

Tecnologia de propulsão de plasma de água proprietária

Momentus desenvolveu o sistema de propulsão de plasma de água Vigoride com as seguintes especificações:

Métrica de tecnologia	Especificação
Tipo de propulsão	Propulsor de plasma de água
Impulso específico	1000-1500 segundos
Capacidade de impulso	0,1-0,5 n

Talento de engenharia

A partir do quarto trimestre 2023, Momentus empregou:

• Total de funcionários: 87
• Equipe de engenharia: 62
• Ph.D. Engenheiros de nível: 19

Portfólio de patentes

Categoria de patentes	Número de patentes
Propulsão de espaçonave	8
Sistemas de transporte espacial	5
Tecnologia de plasma	3

Relacionamentos estratégicos

• Serviços de Transporte Orbital Comercial da NASA (COTS) Parceiro
• Contrato de serviços de lançamento da SpaceX
• Colaboração com a Lockheed Martin

Instalações de pesquisa e desenvolvimento

Localizado em Santa Clara, Califórnia, com:

Atributo da instalação	Especificação
Área total da instalação	22.000 pés quadrados
Espaço de Laboratório de P&D	8.500 pés quadrados
Investimento anual de P&D	US $ 12,4 milhões

Momentus Inc. (MNTs) - Modelo de Negócios: Proposições de Valor

Serviços de transporte de satélite acessíveis e eficientes

A partir do quarto trimestre de 2023, o Momentus oferece serviços de transporte de satélite com preços a partir de US $ 5,5 milhões por missão. A empresa desenvolveu um Plataforma de rebocador de espaço de vigorida Com as seguintes métricas de custo-eficiência:

Parâmetro de serviço	Especificação
Custo da missão base	US $ 5,5 milhões
Capacidade de carga útil	Até 250 kg
Custo por quilograma	US $ 22.000/kg

Tempo de trânsito reduzido entre destinos orbitais

O Momentus fornece recursos de transferência orbital com as seguintes métricas de desempenho:

• Redução média de tempo de trânsito: 30-40% em comparação com os métodos tradicionais
• Precisão de manobra orbital: dentro de 99,5% de precisão
• Duração da missão: aproximadamente 3-6 meses por missão

Soluções de mobilidade de espaço de menor custo

A estrutura de custos da empresa demonstra vantagens econômicas significativas:

Comparação de custos	Momentus	Provedor tradicional
Custo da missão	US $ 5,5 milhões	US $ 12-15 milhões
Economia de custos	~55-63%	N / D

Tecnologia de propulsão baseada em água ambientalmente amigável

O Momentus utiliza propulsão de plasma à base de água com as seguintes especificações ambientais:

• Propulsor: água
• Emissões de carbono: quase zero em comparação com a propulsão química
• Impulso específico: 1.000-1.500 segundos

Maior de confiabilidade e precisão da entrega da carga útil

Métricas de confiabilidade para o Momentus Space Transportation Services:

Métrica de desempenho	Valor
Taxa de sucesso da missão	92.5%
Precisão da colocação orbital	± 10 quilômetros
Preservação da integridade da carga útil	99.8%

Momentus Inc. (MNTs) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto de vendas com operadores de satélite

A partir do quarto trimestre 2023, a Momentus Inc. relatou 12 contratos ativos do operador de satélite com valor total do contrato de US $ 47,3 milhões. Métricas de aquisição de clientes mostram:

Segmento de clientes	Número de contratos	Valor do contrato
Operadores de satélite comerciais	8	US $ 31,6 milhões
Operadores de satélite do governo/defesa	4	US $ 15,7 milhões

Serviços de suporte técnico e consulta

Momentus fornece suporte técnico dedicado com a seguinte estrutura de serviço:

• Disponibilidade de suporte técnico 24/7
• Equipe de engenharia dedicada de 17 especialistas
• Tempo médio de resposta: 2,4 horas

Assistência personalizada de planejamento de missão

Os serviços de planejamento da missão incluem:

Tipo de serviço	Modelo de preços	Custo médio
Planejamento de missão padrão	Taxa fixa	$125,000
Planejamento missionário complexo	Preços personalizados	$250,000 - $500,000

Atualizações regulares de desempenho e progresso

Métricas de comunicação do cliente:

• Relatórios semanais de desempenho
• Revisões mensais de progresso da missão
• Acesso ao painel de rastreamento em tempo real

Desenvolvimento de parceria de longo prazo

Estatísticas de engajamento de parceria:

Métrica de Parceria	2023 dados
Repetir a taxa de cliente	68%
Duração média da parceria	3,2 anos
Taxa de retenção de clientes	82%

Momentus Inc. (MNTs) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir do quarto trimestre 2023, o MOMEUS mantém uma equipe de vendas direta de 12 profissionais de vendas aeroespaciais especializadas focadas nos serviços de transporte espacial.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	12
Comprimento médio do ciclo de vendas	8-12 meses
Segmentos de clientes -alvo	Operadores de satélite, agências governamentais

Conferências da indústria espacial e feiras

O Momentus participa de eventos aeroespaciais importantes para gerar leads de negócios e mostrar tecnologias.

• Simpósio Espacial (Colorado Springs)
• Pequena Conferência de Satélite
• Congresso Astronáutico Internacional

Apresentações técnicas online

As apresentações técnicas digitais atingiram aproximadamente 487 profissionais únicos do setor em 2023.

Métricas de apresentação online	2023 desempenho
Apresentações online totais	24
Participantes únicos	487
Taxa média de envolvimento	62%

Plataformas de marketing digital

O MomMEUS utiliza marketing digital direcionado em plataformas aeroespaciais especializadas.

• Grupo de tecnologia aeroespacial do LinkedIn
• Publicidade digital de espaçadoras
• Google Ads - direcionamento aeroespacial

Redes da indústria aeroespacial estratégica

A rede estratégica envolve o envolvimento direto com 37 parceiros da indústria aeroespacial e satélite importantes em 2023.

Categoria de rede	2023 conexões
Fabricantes de satélite	12
Lançar provedores de serviços	9
Agências espaciais do governo	16

Momentus Inc. (MNTs) - Modelo de Negócios: Segmentos de Clientes

Operadores de satélite comerciais

A Momentus serve operadores comerciais de satélite com características específicas do mercado:

Métricas de segmento	Pontos de dados
Mercado endereçável total	US $ 14,3 bilhões até 2025
Número de clientes em potencial	87 operadores de satélite comercial globalmente
Valor médio do contrato	US $ 3,2 milhões por missão

Agências espaciais do governo

Momentus tem como alvo as agências espaciais do governo com serviços especializados:

• NASA
• Agência Espacial Europeia (ESA)
• Agência de exploração aeroespacial do Japão (JAXA)

Organizações de Defesa e Inteligência

Os principais segmentos de clientes de defesa incluem:

Tipo de organização	Contratos em potencial
Departamento de Defesa dos EUA	US $ 12,5 milhões em potenciais contratos anuais
Comunidade de inteligência	US $ 8,7 milhões em potencial suporte da missão

Instituições de pesquisa

Pesquise características do segmento de clientes:

• Universidade de Stanford
• Mit
• Instituto de Tecnologia da Califórnia

Empresas de exploração espacial privada

Momentus serve mercado privado de exploração espacial:

Empresa	Valor potencial de colaboração
SpaceX	US $ 5,6 milhões por missão
Origem azul	US $ 4,3 milhões por missão

Momentus Inc. (MNTs) - Modelo de Negócios: Estrutura de Custo

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Momentus Inc. registrou despesas de P&D de US $ 20,4 milhões, representando um investimento significativo em inovação tecnológica.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 20,4 milhões	68.2%
2022	US $ 24,7 milhões	72.5%

Componentes da espaçonave de fabricação

Os custos de fabricação dos componentes da nave espacial em 2023 totalizaram aproximadamente US $ 15,6 milhões.

• Aquisição de materiais especializados: US $ 4,2 milhões
• Fabricação de componentes: US $ 7,8 milhões
• Processos de controle de qualidade: US $ 3,6 milhões

Infraestrutura de lançamento e transporte

As despesas de infraestrutura e lançamento relacionadas a 2023 foram de US $ 12,3 milhões.

Categoria de custo de infraestrutura	Quantidade de despesa
Lançar manutenção da instalação	US $ 4,5 milhões
Logística de transporte	US $ 5,2 milhões
Equipamento de apoio ao solo	US $ 2,6 milhões

Salários de pessoal e engenharia

Os custos totais de pessoal para 2023 totalizaram US $ 18,7 milhões.

• Salários da equipe de engenharia: US $ 12,4 milhões
• Pessoal Administrativo: US $ 3,9 milhões
• Compensação de gerenciamento: US $ 2,4 milhões

Certificação e teste de tecnologia

As despesas de certificação e teste para 2023 foram de US $ 6,2 milhões.

Categoria de teste	Despesa
Teste do sistema de naves espaciais	US $ 3,6 milhões
Certificação regulatória	US $ 2,6 milhões

Estrutura de custo total para 2023: US $ 73,2 milhões

Momentus Inc. (MNTs) - Modelo de negócios: fluxos de receita

Taxas de serviço de transporte de satélite

A partir do quarto trimestre de 2023, o MomMEus relatou taxas de serviço de transporte de satélite de US $ 2,1 milhões. A empresa cobra entre US $ 3,5 milhões e US $ 5 milhões por missão por seu Serviço de Transporte Espacial de Vigorídeo.

Tipo de serviço	Intervalo de taxas	Projeção anual
Missão Padrão de Vigorida	US $ 3,5 milhões - US $ 5m por missão	$ 14M - US $ 20 milhões
Implantação de satélite personalizada	$ 4m - US $ 6 milhões por missão	$ 16M - US $ 24 milhões

Acordos de licenciamento de tecnologia

O Momentus gerou aproximadamente US $ 850.000 do licenciamento de tecnologia em 2023, com potencial expansão nas tecnologias de propulsão espacial.

Pagamentos do contrato governamental

A receita do contrato governamental para 2023 totalizou US $ 6,3 milhões, principalmente da NASA e dos contratos do Departamento de Defesa.

Agência governamental	Valor do contrato	Propósito
NASA	US $ 4,2 milhões	Serviços de transporte espacial
Departamento de Defesa	US $ 2,1 milhões	Desenvolvimento de Tecnologia

Compensação de missão baseada em desempenho

Os bônus de desempenho de missões de sucesso contribuíram com US $ 1,2 milhão adicionais em 2023.

• Bônus de implantação de satélite bem -sucedido: US $ 500.000
• Incentivos de confiabilidade da missão: US $ 700.000

Subsídios de pesquisa e desenvolvimento

As doações de P&D para 2023 totalizaram US $ 3,5 milhões de várias fontes de financiamento científico e de exploração espacial.

Fonte de concessão	Valor de concessão	Foco na pesquisa
National Science Foundation	US $ 1,5 milhão	Tecnologias avançadas de propulsão
Programa de pesquisa espacial comercial	US $ 2 milhões	Inovação de 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.