Momentus (MNTS) Q2 2026 earnings summary

Executive summary

• Service revenue for the quarter was $25,000, down 87% year-over-year, while six-month revenue rose 532% to $3.2 million, driven by hosted payload and engineering services for government and commercial customers.

• Net loss for the quarter was $8.3 million, a 28% increase year-over-year; six-month net loss was $17.7 million, up 41% from the prior year.

• The company completed a successful Vigoride 7 mission, demonstrating proprietary propulsion technology and securing contracts for future missions with NASA and other government agencies.

Financial highlights

• Gross profit for the quarter was $25,000, down from $189,000 year-over-year; six-month gross profit was $1.8 million, up from $511,000.

• Research and development expenses doubled year-over-year to $4.2 million for the quarter and $8.4 million for six months.

• Selling, general, and administrative expenses were stable at $3.9 million for the quarter, but rose 20% to $10.2 million for six months.

• Interest income increased to $308,000 for the quarter due to higher cash balances from financing activities.

Outlook and guidance

• The company expects continued cash consumption for R&D, sales, regulatory compliance, and legal matters.

• Management anticipates ongoing growth in demand for satellite transportation and infrastructure services, with new missions and contracts in the pipeline.

• Additional equity or debt financing may be required if cash needs exceed current projections.