Momentus (US:MNTS)2022-08-12 02:19Vigoride 3 Mission & Second SpaceX Port - Vigoride 3 successfully launched into orbit on the SpaceX Transporter-5 mission and established initial two-way communications with the ground station[4] - The company deployed the first two customer satellites from Vigoride 3 in Q2, with four more deployed in Q3, totaling six[4] - Momentus purchased a second port on the SpaceX Transporter-5 mission for deploying customer satellites directly from the launch vehicle, deploying five satellites for four customers[7] - The third-party system used on the second port worked as expected, and the company is evaluating expansion into ride-share aggregation[7, 8] Financial Highlights (Q2 2022) - The company had $55 million in backlog (potential revenue) as of July 31, 2022[23] - Unrestricted cash and cash equivalents were approximately $109 million as of June 30, 2022[23] - Gross debt was approximately $21 million, consisting of a term loan[23] - The company recognized $50 thousand in revenue and $38 thousand in gross profit related to Vigoride 3[23] - Q2 loss from operations was approximately $24 million and Q2 Adjusted EBITDA was negative $18 million[23] Cost Reduction Plan & Future Missions - The company is implementing a cost reduction plan to extend its cash runway through the end of 2023 and plans to be opportunistic about raising capital[17] - Planned missions on upcoming SpaceX launches include Vigoride 5, Vigoride 6, and Vigoride 7 targeted for launches in November 2022, January 2023, and April 2023, respectively[17]