Momentus (MNTS) Q1 2026 earnings summary

Executive summary

• Achieved $3.2 million in revenue for Q1 2026, a significant increase from $0.3 million in Q1 2025, driven by hosted payload services and engineering projects for NASA and other government agencies.

• Launched the Vigoride 7 OSV with 10 payloads, serving both government and commercial customers, and continued to demonstrate flight heritage and technology improvements.

• Raised $16.7 million in net cash from financing activities in Q1 2026, plus $5.0 million in a subsequent private placement, eliminating substantial doubt about going concern status.

Financial highlights

• Service revenue increased by $2.9 million year-over-year, primarily from hosted payload and engineering services.

• Gross profit rose to $1.8 million from a near break-even in the prior year.

• Operating expenses grew 62% year-over-year to $10.5 million, mainly due to higher R&D and legal costs.

• Net loss widened to $9.5 million from $6.2 million in Q1 2025.

• Cash and cash equivalents at March 31, 2026, were $23.5 million, up from $12.8 million at year-end 2025.

Outlook and guidance

• Management expects sufficient liquidity to fund operations for at least the next twelve months, supported by recent financings and improved cash position.

• Anticipates continued growth in demand for satellite transportation and infrastructure services, with a focus on expanding government and commercial contracts.