Momentus Inc. reported Q3 2024 revenue of $0.1 million, down 68% from $0.3 million in Q3 2023, with a net loss of $7.8 million compared to $15.2 million loss year-over-year. The revenue decline was primarily due to lower engineering services, while reduced losses reflected significant cost-cutting measures across operations.Operating expenses decreased substantially, with research and development costs down 63% to $2.2 million and selling, general and administrative expenses reduced 42% to $5.4 million compared to Q3 2023. The improvements came from headcount reductions, lower subcontractor costs, and decreased legal and professional service expenses.The company faces significant liquidity challenges with only $0.8 million in cash as of September 30, 2024, down from $2.1 million at 2023 year-end. Management noted substantial doubt about the company's ability to continue as a going concern, though it secured new financing including a $2.3 million convertible note in July 2024 and raised additional capital through warrant offerings. The company continues to evaluate opportunities to access more capital while scaling back operations.

Momentus Inc. reported Q3 2024 revenue of $0.1 million, down 68% from $0.3 million in Q3 2023, with a net loss of $7.8 million compared to $15.2 million loss year-over-year. The revenue decline was primarily due to lower engineering services, while reduced losses reflected significant cost-cutting measures across operations.Operating expenses decreased substantially, with research and development costs down 63% to $2.2 million and selling, general and administrative expenses reduced 42% to $5.4 million compared to Q3 2023. The improvements came from headcount reductions, lower subcontractor costs, and decreased legal and professional service expenses.The company faces significant liquidity challenges with only $0.8 million in cash as of September 30, 2024, down from $2.1 million at 2023 year-end. Management noted substantial doubt about the company's ability to continue as a going concern, though it secured new financing including a $2.3 million convertible note in July 2024 and raised additional capital through warrant offerings. The company continues to evaluate opportunities to access more capital while scaling back operations.