Momentus issues letter to shareholders

Momentus (MNTS) announced that it has released a Letter to Shareholders from CEO John Rood, detailing the company’s progress in winning new contracts, growing revenue, retiring its debt, and strengthening its balance sheet. The letter outlines key achievements across mission execution, technology development, and commercial expansion. “Our team continues to demonstrate disciplined execution,” said CEO John Rood in the letter. “We remain focused on delivering for our customers, strengthening our operational foundation, and positioning Momentus for long-term growth.” Highlights from the Letter to Shareholders include: Momentus launched its Vigoride 7 spacecraft to orbit on March 30, 2026 on the SpaceX Transporter 16 launch vehicle. Space Force budget increase: The FY2027 U.S. Space Force budget request of $71 billion. 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, NASA, and the Missile Defense Agency, including the SHIELD IDIQ. 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. 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. 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. “