Momentus (MNTS) Q4 2025 earnings summary

Executive summary

• Focused on commercial space services, including satellite buses, transportation, and in-orbit services, with both government and commercial customers.

• Four missions launched to date, 17 customer satellites deployed, and hosted payload services provided.

• Significant technology investments in water plasma propulsion and modular satellite platforms.

• Ongoing need for additional capital to fund operations and growth; company not yet profitable.

Financial highlights

• 2025 service revenue was $1.1 million, down 47% from $2.1 million in 2024.

• Net loss for 2025 was $30.5 million, a 13% improvement from $34.9 million in 2024.

• Gross profit for 2025 was $1.1 million, down from $2.0 million in 2024.

• Cash and cash equivalents at year-end 2025 were $12.8 million.

• Accumulated deficit reached $438.6 million as of December 31, 2025.

Outlook and guidance

• Management's mitigation plans (cost reductions, monetization of assets, and capital raising) are expected to provide sufficient liquidity for current operations, but additional capital will be required for future growth.

• Company expects continued cash consumption for R&D, sales, and regulatory compliance.