AI Earnings Predictions for Momentus Inc. (MNTS)

EX-99.1

2 ef20072374_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

Letter to Shareholders

Key Takeaways

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Strong execution: Momentus launched its Vigoride 7 spacecraft to orbit on March 30, 2026 on the SpaceX Transporter 16 launch vehicle.  Vigoride 7’s mission features demonstrations of cutting-edge space technologies and operations planned over the next several months.

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Space Force budget increase: The FY2027 U.S. Space Force budget request of $71 billion—more than double last year’s allocation—potentially represents an historic inflection in government space spending.

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Government contract awards accelerating: Momentus holds active contracts with DARPA, the U.S. Air Force Research Labs (AFRL) SpaceWERX organization, the U.S. Space Force’s Space Development Agency (SDA), NASA, and the Missile Defense Agency, including the SHIELD IDIQ— where Momentus has the right to compete for contracts in a $151 billion, 10-year national defense contract vehicle tied to the Golden Dome missile defense initiative.  Momentus is cleared to Top Secret and positioned to compete for classified programs.

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Revenue inflection: Momentus forecasts revenue of $10.0 million in 2026, a 9X increase over $1.1 million in 2025, driven by milestone-based contracts with NASA and the U.S. Department of Defense.

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Strengthened balance sheet: Cash on hand increased to $26.2 million as of April 23, 2026, up from $12.8 million at year-end 2025, which we estimate provides us with at least a 12-month runway.

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Fundamental Institutional Investor Support:  On April 16, 2026, we closed a $5 million private placement of common stock priced at the market under Nasdaq rules with a fundamental institutional investor.

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Convertible Debt Retired:  As of April 17, 2026, the Company’s remaining $1.35 million convertible debt outstanding as of December 31, 2025 has been retired.  As of the date of this letter, Momentus has no outstanding debt.

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Vigoride 8 already sold out: The next orbital service vehicle mission, planned for 2027, is fully subscribed with NASA-awarded contracts, demonstrating continued customer demand.

CEO Letter to Shareholders

I wanted to give shareholders an update on the progress that we continue to make at Momentus. The United States is making a major commitment to space as a domain of national defense—and Momentus is well-positioned to support that effort, with key technologies and active contracts spanning the Defense Advanced Research Projects Agency (DARPA), the U.S. Space Force’s Space Development Agency (SDA), SpaceWERX (the innovation arm of the U.S. Space Force at AFRL), and the Missile Defense Agency.

NASA has also put forward a bold vision and commitment to U.S. leadership in space exploration, including astronauts living and working on the Moon.  Momentus won a series of contracts last year from NASA, and we are poised to play a growing role supporting NASA.  Momentus also recently moved into a new facility well suited to scale with those ambitions. This letter details where we stand today and why we believe the opportunity ahead is as significant as any in the company’s history.

Planned Revenue Growth

Momentus currently forecasts revenue of $10.0 million in 2026, a 9X increase over $1.1 million reported in our fiscal year 2025 Annual Report filed March 31, 2026. This forecast reflects anticipated milestone-based payments from customers—principally NASA—under contracts already awarded and signed. We have submitted additional contract proposals to customers that, if awarded, have the potential to push full-year 2026 revenue above $10.0 million.

Strengthened Financial Foundation and Fundamental Institutional Investor Support

Momentus has substantially strengthened its balance sheet over the past year. As of April 23, 2026, the Company held $26.2 million in cash—up from $12.8 million at fiscal year-end 2025. This liquidity is projected to provide at least 12-month operational runway. We believe improved financial stability will support our commercial and defense contracting ambitions, as these customers generally require demonstrated financial health from mission partners.

On April 16, 2026, Momentus announced the closing of a private placement priced at-the-market with a single institutional investor for the purchase and sale of 1,333,334 shares of its common stock (or common stock equivalents in lieu thereof). The Company received aggregate gross proceeds of approximately $5 million, before deducting placement agent fees and other Offering expenses.  We are pleased to welcome this high quality fundamental institutional investor to our capitalization table.

As of the date of this letter, Momentus has retired $1.35 million of convertible debt that was outstanding on December 31, 2025 through repayment or conversions.  As of the date of this letter, Momentus has no outstanding debt.

Strong Execution

On March 30, 2026, Momentus launched the Vigoride 7 Orbital Service Vehicle carrying 10 payloads to orbit a

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

September 6, 2024

Date of Report (date of earliest event reported)

Momentus Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-39128

84-1905538

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

3901 N. First Street

San Jose, California

95134

(Address of Principal Executive Offices)

(Zip Code)

(650) 564-7820

Registrant’s telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to section 12(g) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock

MNTS

The Nasdaq Stock Market LLC

Warrants

MNTSW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

The information included under “Business Update” in Item 7.01 of this Current Report on Form 8-K (this “Current Report”) with respect to preliminary financial results for Momentus Inc. (the “Company”) for the six months ended June 30, 2024 is incorporated herein by reference. This information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition,” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

The information contained in this Item 2.02, “Results of Operations and Financial Condition” of this Current Report shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as otherwise expressly set forth therein.

Item 7.01

Regulation FD Disclosure.

Settlement of Derivative Litigation

On August 26, 2024, an unopposed motion for the preliminary approval of settlement was filed after the Company reached an agreement in principle for a proposed settlement of certain shareholder derivative litigation. The Company is pleased to have reached this significant milestone with the plaintiffs. The Company anticipates that the terms of the settlement agreed to by the parties will be approved.

The proposed settlement, as set forth more fully in the Stipulation and Agreement of Settlement filed with the court, requires the Company to adopt certain corporate governance reforms.  The reforms must be maintained for a minimum period of four years. In return, the plaintiffs in the following derivative actions agreed to the dismissal of the respective derivative actions:

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On June 20, 2022, a shareholder derivative action was filed by Brian Lindsey, on behalf of the Company, in the U.S. District Court for the Central District of California, Case No. 2:22-cv-04212, against the Company (as a nominal defendant), SRAC, Brian Kabot, Juan Manuel Quiroga, James Norris, James Hofmockel, Mikhail Kokorich, Dawn Harms, Fred Kennedy, Chris Hadfield, Mitchel B. Kugler, Victorino Mercado, Kimberly A. Reed, Linda J. Reiners, and John C. Rood. On September 27, 2022, Plaintiff filed his Notice of Voluntary Dismissal without Prejudice seeking to dismiss the case. Because Plaintiff’s dismissal of this derivative action was voluntary and without prejudice, this plaintiff and/or other shareholders may seek to re-file the claims asserted in this matter at a later date. As noted below, Brian Lindsey re-filed a shareholder derivative action in Delaware Chancery Court on June 30, 2023.

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On January 25, 2023, a shareholder derivative action was filed by Melissa Hanna, on behalf of the Com

mnts-20231114

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

November 14, 2023

Date of Report (date of earliest event reported)

Momentus Inc.

(Exact name of registrant as specified in its charter)

Delaware001-3912884-1905538

(State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)

3901 N. First Street

San Jose, California 95134

(Address of Principal Executive Offices)(Zip Code)

(650) 564-7820

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to section 12(g) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A common stockMNTS The Nasdaq Stock Market LLC

WarrantsMNTSW The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

The following information is provided pursuant to Item 7.01 of Form 8-K, “Regulation FD Disclosure” and Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.”

On November 14, 2023, Momentus Inc. (the "Company") issued a press release announcing its financial results for the third quarter and nine months ended September 30, 2023. In addition, the Company will be using a slide presentation during its earnings conference call. Copies of the press release and slide presentation are furnished as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

This information and the information contained in Exhibits 99.1 and 99.2 are furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing, regardless of any general incorporation language in the filing.

The Company does not have, and expressly disclaims, any obligation to release publicly any updates or any changes in its expectations or any change in events, conditions, or circumstances on which any forward-looking statement is based.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit NumberExhibit Description

99.1 Press Release, date Nov 14, 2023 issued by Momentus Inc.

99.2 Momentus Inc. Investor Presentation, dated November 14, 2023

104Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

By:/s/Eric Williams

Name:Eric Williams

Dated:November 14, 2023Title:Chief Financial Officer