Momentus Inc. Q1 FY2022 earnings call

• Progress on Vigoride: Completed system level thermal vacuum testing and vibration testing on Vigoride 3, preparing it for inaugural flight. Addressed issues from tests and shipped to launch site.
• Licensing/regulatory: Secured necessary licenses from FAA, FCC, NOAA for inaugural launch. Discussed future licensing plans with FCC.
• Future plans: Signed launch services agreements with SpaceX for 4 additional rideshare missions; plan to introduce reusable Vigoride by mid-decade, test key technologies for reusable Vigoride on 2023 SpaceX missions.
• Team expansion: Added key executives in engineering, manufacturing, and supply chain to support business growth.

No distinct product segments with revenue contributions provided. The focus is on progress in developing space technology, particularly the Vigoride orbital transfer vehicle and related testing and regulatory efforts.

• Inaugural Vigoride demonstration flight scheduled for this month.
• Secured launch slots on SpaceX Transporter missions through 2023 (Transporter-6 to Transporter-9).
• Plan to carry hosted payload customer on Transporter-6 and fly Block 2.2 Vigoride vehicle, with intention to broaden service offerings post-inaugural launch.

• Technology development: Uncertainty in translating ground-based results to operational space vehicles.
• Supply chain: Impact on facility components due to supply chain issues.
• Macro-economic: Inflation, geopolitical issues (e.g., war in Ukraine) affecting broader market, though operational progress not significantly impacted yet.

Q: How will you be measuring success on that first mission?

A: The purpose is to test the Vigoride vehicle and its subsystems in space, assess performance, learn from issues, and incorporate lessons into future Vigoride vehicles. Key tasks include testing communications, hardware/software operation, propulsion, and customer payload deployment.

Q: Your relationship with SpaceX, is that a competitive advantage?

A: Seen as a potential competitive advantage. Proud of partnership with SpaceX, appreciates collaboration through regulatory challenges. Plan to be opportunistic and assist satellite operators needing rides.

Q: Are there any ongoing licensing risks for future missions?

A: No significant risks anticipated. Recently secured licenses for inaugural launch, and discussions with FCC for follow-on missions show no notable risks ahead.

Q: Forward financial outlook?

A: Sufficient cash runway through early 2023. Expect customer order activity to pick up once flight heritage is established, though there will be lag between orders and revenue recognition.

Q: Have you seen pickup in business since SpaceX competitor breakup?

A: Proud of partnership with SpaceX. Seen as opportunity to attract customers post-inaugural launch, but cautious not to comment on competitors' challenges.

Q: Can you disclose customers for Vigoride 3 mission?

A: On Vigoride 3 mission, customers include FOSSA, Orbit NTNU (Norwegian university), and others. 9 customer satellites will be deployed, and a piece of space hardware from another customer will be tested. Also, third-party deployer system on Transporter-5 mission includes Cal Poly Pomona and other customers.