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SAN JOSE, Calif. - Momentus Inc. (NASDAQ: NASDAQ:MNTS), a commercial space company with a market capitalization of $11.33 million, has secured an expanded contract from the Defense Advanced Research Projects Agency (DARPA) to demonstrate in-orbit assembly of large-scale structures. The mission, scheduled for early 2026, will be part of the SpaceX Transporter rideshare program. According to InvestingPro data, the company has demonstrated strong revenue growth of 30.47% in the last twelve months, though it faces significant cash management challenges.
The contract, valued at approximately $3.5 million, is for Phase 3 of the DARPA Novel Orbital and Moon Manufacturing, Materials, and Mass-efficient Design (NOM4D) program. Momentus will offer comprehensive support, including launch services, payload integration, and hosting the payload on its Vigoride Orbital Service Vehicle. The in-space assembly is aimed at validating the functionality, performance, and reliability of the payload in low Earth orbit (LEO). The company maintains impressive gross profit margins of 85.48%, though InvestingPro analysis reveals over 20 additional key financial insights available to subscribers.
This development follows Momentus’ successful completion of the first two phases of the NOM4D contract, awarded in April 2024. The DARPA program aims to establish the capability to build precise and robust structures in space, which could lead to transformative methods of operating in space. The envisioned structures, unlike those optimized for ground tests and launch survival, would be designed for in-orbit fabrication.
John Rood, CEO of Momentus, expressed enthusiasm about supporting DARPA’s program, highlighting the potential impact of cost-effective in-space assembly on future space operations. The technology could facilitate the construction of large structures, such as communications antennas and manufacturing hubs, that are currently too large to fit within a rocket’s shroud. While the company’s stock is currently trading near its 52-week low, InvestingPro’s Fair Value analysis suggests the stock may be undervalued at current levels.
The upcoming mission will be Momentus’ fourth Vigoride mission and its first in support of DARPA. Momentus also has additional capacity for customers planning LEO deployments or hosted payload missions for early 2026.
This contract complements Momentus’ recent contract wins with NASA and the U.S. Space Development Agency in late 2024, positioning the company for future growth. With current revenue of $2.85 million and analysts anticipating continued sales growth, investors can access detailed financial analysis and growth projections through InvestingPro.
Momentus specializes in providing satellite buses and various in-space infrastructure services, including transportation and hosted payloads.
The information in this article is based on a press release statement.
In other recent news, Momentus Inc. has been making substantial strides in the commercial space industry. The company is set to conduct an in-space demonstration flight featuring new low-cost multispectral sensors for the U.S. Air Force Research Labs AFWERX organization, scheduled for early 2026. The demonstration will exhibit the sensors’ ability to guide a spacecraft during docking procedures in space. Furthermore, Momentus has secured a contract with SpaceX for a Transporter rideshare launch as part of this mission.
In financial developments, Momentus has announced an at-the-market offering of 800,000 shares of common stock, accompanied by warrants to purchase an additional 800,000 shares. The company anticipates gross proceeds of roughly $5 million from this offering, which is expected to close in December 2024. In addition, Momentus has entered a loan agreement with J.J. Astor & Co. for $2 million, which will be used for general working capital purposes.
Momentus has also amended its convertible note agreements with Space Infrastructures Ventures, LLC, allowing the company to access a $1 million tranche earlier than initially scheduled. The amendments provide Space Infrastructures Ventures with the option to convert all outstanding amounts under the note into Momentus Class A common stock at any time. These recent developments underline Momentus’s ongoing efforts to advance its operations and financial position in the commercial space sector.
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