$MNTS

Momentus Inc.

CIK:0001781162|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Service revenue	$ 25	$ 191	$ 3,240	$ 513
Cost of revenue	0	2	1,398	2
Gross profit	25	189	1,842	511
Operating expenses:
Research and development expenses	4,226	2,193	8,395	4,108
Selling, general and administrative expenses	3,904	3,940	10,244	8,532
Total operating expenses	8,130	6,133	18,639	12,640
Loss from operations	(8,105)	(5,944)	(16,797)	(12,129)
Other income (expense), net:
Realized loss on disposal of assets	(12)	0	(338)	0
Interest income	308	2	422	6
Interest expense	(116)	(91)	(702)	65
Gain on debt extinguishment	0	13	0	71
Change in fair value of convertible debt carried at fair value	0	(835)	0	(835)
Change in fair value of warrant liability	(123)	0	(123)	0
Other income (expense)	(221)	405	(211)	200
Total other income (expense), net	(164)	(506)	(952)	(493)
Net loss	$ (8,269)	$ (6,450)	$ (17,749)	$ (12,622)
Net loss per share, basic (in dollars per share)	$ (0.70)	$ (22.03)	$ (2.17)	$ (50.09)
Net loss per share, diluted (in dollars per share)	$ (0.70)	$ (22.03)	$ (2.17)	$ (50.09)
Weighted average shares outstanding, basic (in shares)	11,887,008	292,791	8,164,045	251,977
Weighted average shares outstanding, fully diluted (in shares)	11,887,008	292,791	8,164,045	251,977

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (17,749)	$ (12,622)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	394	647
Amortization of debt (premium) and issuance costs	571	(381)
Amortization of right-of-use assets	598	39
Change in fair value of warrant liability	123	0
Change in fair value of convertible debt carried at fair value	0	835
Loss on disposal of fixed assets	338	0
Gain on debt extinguishment	0	(71)
Stock-based compensation expense	511	2,024
Issuance of convertible notes for legal services	275	384
Changes in operating assets and liabilities:
Accounts receivable	(611)	679
Prepaids and other current assets	4,524	(2,165)
Insurance receivable	100	308
Other non-current assets	502	495
Accounts payable	(107)	1,480
Accrued liabilities	(1,512)	379
Accrued interest	42	270
Other current liabilities	78	502
Contract liabilities	(3,849)	900
Operating lease liability	29	(302)
Litigation settlement contingency	860	(308)
Other non-current liabilities	0	(515)
Net cash used in operating activities	(14,883)	(7,422)
Cash flows from investing activities:
Purchases of property, machinery and equipment	(228)	0
Proceeds from sale of property, machinery and equipment	12	0
Net cash used in investing activities	(216)	0
Cash flows from financing activities:
Proceeds from issuance of convertible notes and warrants	0	750
Payment of convertible notes	(783)	(672)
Payment of debt issuance costs	0	(78)
Proceeds from exercise of warrants	9,638	2,068
Payments for issuance costs related to exercise of warrants	0	(204)
Repurchase of Section 16 Officer shares for tax coverage exchange	(18)	(1)
Payment of deferred offering costs	0	(283)
Proceeds from issuance of common stock, pre-funded warrants and related warrants	107,030	5,000
Payments for issuance costs related to common stock, pre-funded warrants and related warrants	(5,925)	(598)
Net cash provided by financing activities	109,942	5,982
Increase in cash, cash equivalents and restricted cash	94,843	(1,440)
Cash, cash equivalents, and restricted cash, beginning of period	12,861	1,572
Cash, cash equivalents, and restricted cash, end of period	$ 107,704	$ 132

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 107,598	$ 12,806
Restricted cash, current	106	55
Accounts receivable	611	0
Insurance receivable	0	100
Prepaids and other current assets	4,797	9,321
Total current assets	113,112	22,282
Property, machinery and equipment, net	464	953
Intangible assets, net	175	201
Operating right-of-use asset	7,088	7,686
Other non-current assets	8,695	9,197
Total assets	129,534	40,319
Current liabilities:
Accounts payable	3,987	4,081
Accrued liabilities	825	2,272
Loan payable, current	0	3,479
Contract liabilities, current	209	4,058
Operating lease liability, current	956	836
Litigation settlement contingency	1,662	802
Other current liabilities	615	541
Total current liabilities	8,254	16,069
Contract liabilities, non-current	120	120
Warrant liability	3	3
Operating lease liability, non-current	6,897	6,987
Total non-current liabilities	7,020	7,110
Total liabilities	15,274	23,179
Commitments and Contingencies (Note 12)
Stockholders’ equity:
Series A preferred stock, $0.00001 par value; 20,000,000 shares authorized and 0 issued and outstanding as of June 30, 2026; 20,000,000 shares authorized and 547,408 issued and outstanding as of December 31, 2025	0	0
Additional paid-in capital	570,587	455,718
Accumulated deficit	(456,327)	(438,578)
Total stockholders’ equity	114,260	17,140
Total liabilities and stockholders’ equity	129,534	40,319
Common Class A
Stockholders’ equity:
Common stock, value	0	0
Common Class B
Stockholders’ equity:
Common stock, value	$ 0	$ 0