MOMENTUS INC C/WTS 15/05/2026 (TO PUR COM) | 10-K: FY2025 Revenue: USD 1.11 M

Revenue: As of FY2025, the actual value is USD 1.11 M.

EPS: As of FY2025, the actual value is USD -49.1.

EBIT: As of FY2025, the actual value is USD -26.64 M.

Momentus Inc. operates as a single reportable segment, and its financial performance for 2025 and 2024 is summarized below .

Segment Revenue

• Total Service Revenue: Decreased by -47% to $1.1 million in 2025, down from $2.1 million in 2024 .
  • Forfeited customer deposits: $0.162 million in 2025, compared to $0.307 million in 2024 .
  • Engineering project services: $0.948 million in 2025, compared to $1.807 million in 2024 .

Operational Metrics

• Gross Profit: Decreased by -46% to $1.108 million in 2025, from $2.048 million in 2024 .
• Cost of Revenue: Decreased by -97% to $0.002 million in 2025, from $0.066 million in 2024 .
• Research and Development Expenses: Decreased by -6% to $9.190 million in 2025, from $9.782 million in 2024, primarily due to a - $1.1 million reduction in payroll costs, partially offset by increases in subcontractor costs and other miscellaneous fees .
• Selling, General and Administrative Expenses: Decreased by -13% to $19.173 million in 2025, from $21.949 million in 2024, driven by decreases in payroll-related expenses (including non-cash stock-based compensation), legal expenses, and other miscellaneous fees, partially offset by increases in consulting and professional services and an impairment of prepaid services .
• Loss from Operations: Improved by -8% to - $27.255 million in 2025, from - $29.683 million in 2024 .
• Net Loss: Improved by -13% to - $30.468 million in 2025, from - $34.946 million in 2024 .
• Stock-based Compensation Expense: $3.273 million in 2025, compared to $6.493 million in 2024 .
• Interest Expense: Increased by 71% to - $0.677 million in 2025, from - $0.395 million in 2024, primarily due to increased cash interest accrual and amortization of debt discount .
• Loss on Debt Extinguishment: - $2.827 million in 2025, compared to - $4.258 million in 2024 .
• Change in Fair Value of Convertible Debt Carried at Fair Value: - $0.835 million in 2025, compared to $0 million in 2024 .
• Change in Fair Value of Warrant Liability: $2.330 million in 2025, compared to $0 million in 2024 .

Cash Flow

• Net Cash Used in Operating Activities: - $23.275 million in 2025, compared to - $16.611 million in 2024 .
• Net Cash Provided by Financing Activities: $34.576 million in 2025, compared to $15.597 million in 2024 .
• Cash and Cash Equivalents: $12.806 million as of December 31, 2025, compared to $1.572 million as of December 31, 2024 .

Unique Metrics and Outlook

Momentus Inc. plans to offer various space-related services, including satellites, satellite buses, and in-orbit services . The company is developing innovative technologies like the Tape Spring Solar Array (TASSA) and has matured its Microwave Electrothermal Thruster (MET) to Technology Readiness Level 9 . To date, Momentus Inc. has launched four missions, deployed 17 customer satellites, and provided hosted payload services, including three missions with the Vigoride OSV . The company anticipates considerable growth in the space transportation segment and satellite constellations market, which is expected to drive demand for its products and services .