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SAN JOSE, Calif. - Momentus Inc. (NASDAQ: NASDAQ:MNTS), a $14.3 million market cap company specializing in satellite transportation and in-space services, has announced a new contract with SpaceX for a rideshare mission slated for early 2026. The company's stock has shown significant volatility, recently surging 36.5% in the past week, according to InvestingPro data. The mission will utilize Momentus' Vigoride Orbital Service Vehicle (OSV) to transport payloads for the U.S. Department of Defense (DoD) and various commercial entities to Low-Earth Orbit (LEO).
The upcoming mission, which marks the fourth for the Vigoride OSV, offers additional capacity for clients looking to deploy microsatellites and cubesats, or to operate hosted payloads. While Momentus maintains impressive gross profit margins of 85.5%, InvestingPro analysis indicates the company faces challenges with cash burn and debt management. With a payload limit of up to 200 kg and the ability to provide an average power of up to 1kW, the Vigoride vehicle is designed for efficiency in delivering and deploying payloads in orbits above 500 km and below the International Space Station.
John Rood, CEO of Momentus, expressed enthusiasm for the collaboration, stating, "We're thrilled to be under contract supporting DoD programs, including for our upcoming launch and look forward to also deploying commercial payloads in orbit on this upcoming launch of our Vigoride Orbital Service Vehicle." He emphasized the importance of these partnerships for Momentus' role in the evolving in-space economy.
Customers interested in the early 2026 mission opportunities have been encouraged to reach out to Momentus while space is still available. The company, based in the United States, continues to expand its offerings of commercial satellite buses and in-space infrastructure services.
The information provided in this article is based on a press release statement from Momentus Inc. It should be noted that forward-looking statements involve risks and uncertainties, and actual events may differ materially from those predicted in such statements. With revenue growth of 30.5% in the last twelve months and analysts anticipating continued sales growth, investors seeking detailed financial analysis can access 15 additional key insights through InvestingPro. These statements have not been independently verified and are subject to changes. Momentus has cautioned readers against placing undue reliance on these forward-looking statements, which speak only as of their date.
In other recent news, Momentus Inc. has been actively securing funds and contracts to bolster its operations. The company entered a loan agreement with J.J. Astor & Co. for $2 million, which is convertible into shares of Momentus Class A Common Stock. The loan will be used for general working capital purposes. Momentus also secured a $3 million convertible note with Space Infrastructures Ventures, LLC, to fund working capital and general business needs.
In addition to these financial maneuvers, Momentus has been chosen by the U.S. Defense Department's Space Development Agency to participate in the Hybrid Acquisition for Proliferated Low Earth Orbit program. This selection positions the company to compete for demonstration prototype orders. However, the company is facing potential Nasdaq delisting due to non-compliance with listing rules, but plans to present a compliance plan to a Nasdaq Hearing Panel.
On the financial front, Momentus projects revenues between $1.0 to $2.0 million and an anticipated net loss between $14.0 and $16.0 million for the first half of 2024. The company has also postponed a Special Meeting of Stockholders to ensure comprehensive stockholder participation. These are the recent developments at Momentus Inc.
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