Momentus Selected by NASA to Provide Launch Services

Rhea-AI Summary

Momentus Inc. (NASDAQ: MNTS) has been selected by NASA to provide launch services for future agency missions through its VADR (Venture-Class Acquisition of Dedicated and Rideshare) contract. This selection allows Momentus to play a important role in broadening access to space by delivering satellites like Class D, CubeSats, and higher risk-tolerant payloads to various orbits.

Momentus CEO John Rood expressed delight in being part of the VADR program and pride in the company's capabilities to provide cost-effective services using their flight-proven Vigoride spacecraft. Momentus is a U.S. commercial space company offering commercial satellite buses and in-space infrastructure services, including in-space transportation, hosted payloads, and other in-orbit services.

Positive

• Selected by NASA to provide launch services for future missions
• Opportunity to expand access to space through the VADR contract
• Potential for increased revenue through NASA contracts

Negative

• None.

Insights

Space Industry Analyst

NASA's selection of Momentus for the VADR contract is a significant milestone for the company, potentially opening up new revenue streams and enhancing its credibility in the space industry. This contract positions Momentus to compete in the growing market for small satellite launches and in-space services. The opportunity to support NASA missions could lead to increased visibility and future contracts with both government and commercial clients. However, it's important to note that this is a multiple-award contract, meaning Momentus will be competing with other providers for specific mission tasks. The real impact on Momentus' financials will depend on the volume and value of tasks they secure under this contract. While this news is positive for Momentus' growth prospects, investors should closely monitor the company's ability to execute on these opportunities and translate them into tangible financial results.

Financial Analyst

This NASA contract represents a potential catalyst for Momentus' revenue growth, but its financial impact remains uncertain without specific contract values or guaranteed task orders. For a company with a market cap of about $10.5 million, securing a NASA contract could significantly boost investor confidence. However, Momentus' ability to capitalize on this opportunity will be crucial. The company's current financial health, cash burn rate and operational readiness to fulfill NASA's requirements should be carefully evaluated. Investors should look for future announcements detailing specific task orders and their potential revenue impact. Additionally, this contract may improve Momentus' competitive position in the commercial space market, potentially leading to increased private sector contracts. Overall, while positive, this news alone doesn't guarantee immediate financial improvement and investors should monitor Momentus' execution and future contract wins closely.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a provider of satellite buses and in-space infrastructure services including in-space transportation, hosted payloads, and other in-orbit services, was selected by NASA to provide launch services for future agency missions through its VADR (Venture-Class Acquisition of Dedicated and Rideshare) contract.

Under this NASA contract, Momentus will have the opportunity to play a crucial role in broadening access to space by delivering satellites like Class D, CubeSats, and higher risk-tolerant payloads to a variety of orbits.

“We’re delighted to be part of the VADR program and to have been selected by NASA to be among its suppliers for the missions under this program,” said Momentus CEO John Rood. “We’re proud of our Company’s capabilities to provide cost-effective services to launch and support a wide range of payloads in orbit using our flight-proven Vigoride spacecraft and look forward to supporting NASA’s requirements for cutting edge in-space operations.”

About Momentus Inc.

Momentus is a U.S. commercial space company that offers commercial satellite buses and in-space infrastructure services including in-space transportation, hosted payloads, and other in-orbit services.

Forward-Looking Statements

This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the expected filing of the Company’s Form 10-K and Form 10-Q and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on June 6, 2024, as amended by that certain Annual Report on Form 10-K/A filed by the Company on September 16, 2024, as such factors may be updated from time to time in our other filings with the Commission, accessible on the Commission’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241009029847/en/

Investors: investors@momentus.space

Media: press@momentus.space

Source: Momentus Inc.

FAQ

What is the VADR contract that Momentus (MNTS) was selected for by NASA?

The VADR (Venture-Class Acquisition of Dedicated and Rideshare) contract is a NASA program through which Momentus will have the opportunity to provide launch services for future agency missions, including delivering satellites like Class D, CubeSats, and higher risk-tolerant payloads to various orbits.

What types of services does Momentus (MNTS) offer in the space industry?

Momentus offers commercial satellite buses and in-space infrastructure services, including in-space transportation, hosted payloads, and other in-orbit services. They use their flight-proven Vigoride spacecraft to provide cost-effective services for a wide range of payloads in orbit.

How might the NASA selection impact Momentus (MNTS) business?

The selection by NASA for the VADR contract could significantly impact Momentus' business by providing opportunities to support NASA missions, potentially increasing revenue, and enhancing their role in broadening access to space through their launch and in-orbit services.