Summary by Moomoo AI
Momentus Inc. reported FY2024 financial results with revenue of $2.1 million, primarily from engineering services for government contracts. Net loss narrowed to $34.9 million from $68.9 million in 2023, driven by significant cost reductions in research and development expenses which decreased 72% to $9.8 million, and selling, general and administrative expenses which fell 39% to $21.9 million. The company ended the year with $1.6 million in cash.The company has successfully launched four missions to date, deploying 17 customer satellites and providing hosted payload services. Three missions involved operation of the Vigoride Orbital Service Vehicle (OSV) in orbit, with the system and technology being tested repeatedly. Momentus has matured its Microwave Electrothermal Thruster technology to Technology Readiness Level 9, the highest level, through successful on-orbit demonstrations.Management noted substantial doubt about...Show More
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