Momentus Inc. reported Q1 2024 financial results, with revenue increasing to $513,000 from $22,000 in Q1 2023, primarily driven by engineering services for government contracts. Net loss narrowed to $8.3 million from $20.8 million year-over-year, reflecting significant cost reductions across research and development and selling, general and administrative expenses.The company's cash position remains precarious, with $1.7 million in cash and cash equivalents as of March 31, 2024. Management acknowledged substantial doubt about Momentus' ability to continue as a going concern, citing the need to raise additional capital to fund operations and execute its business plan. The company is actively evaluating opportunities to access more funding.Momentus continues to develop its satellite and space transportation technologies, having launched four missions to date and deployed 17 customer satellites. The company sees potential growth in the space transportation and infrastructure services market, particularly for small satellite deployment and constellation maintenance. However, significant challenges remain in achieving commercial scale production and profitability.

Momentus Inc. reported Q1 2024 financial results, with revenue increasing to $513,000 from $22,000 in Q1 2023, primarily driven by engineering services for government contracts. Net loss narrowed to $8.3 million from $20.8 million year-over-year, reflecting significant cost reductions across research and development and selling, general and administrative expenses.The company's cash position remains precarious, with $1.7 million in cash and cash equivalents as of March 31, 2024. Management acknowledged substantial doubt about Momentus' ability to continue as a going concern, citing the need to raise additional capital to fund operations and execute its business plan. The company is actively evaluating opportunities to access more funding.Momentus continues to develop its satellite and space transportation technologies, having launched four missions to date and deployed 17 customer satellites. The company sees potential growth in the space transportation and infrastructure services market, particularly for small satellite deployment and constellation maintenance. However, significant challenges remain in achieving commercial scale production and profitability.