Momentus Inc. (NASDAQ:MNTS) Q3 2023 Earnings Call Transcript

Potential customers are telling us the M-1000 has a very good value proposition, and that’s why they’re reacting positively to it. Of note, the M-1000 was used in our bid to the Space Development Agency for the Tranche 2 tracking layer of 18 satellites that will be used for missile tracking. So we’re very optimistic about the progress of the M-1000 and eager to leverage the flight heritage of our big ride Orbital Service Vehicle as we market it. Thanks again for the question.

Unidentified Analyst: Well, thank you so much for the information. And my second question will be, well, I see you signed several contracts quite recently and it seems quite faster than before. And the question will be, what do you think that is helping with that? Also, I think you already talked a little bit about this, but under this market condition competition, what do you think about your future growth?

John Rood: As I, thank you for the question. As I mentioned on the call, Momentus has now deployed 18 satellites to date. The progress that we’ve made on those earlier missions and the flight heritage we’ve gained has positioned us better in the market than at the start of the company because customers are sensitive to whether you have flight heritage. They want to evaluate the risk of flying with you in the future. And for example, on our next mission, we plan to launch the Vigoride 7 Orbital Service Vehicle with seven customer payloads or satellites that require orbital delivery and two other customers for a total of nine. These other two customers are for hosted payload support. And of course, we plan to do our own hosted payload demonstration, hosted payload operation with a demonstration of Rendezvous and Proximity Operations on that flight.

But we’ve also signed other contracts with customers to deliver their satellites to orbit that will fly on later missions like the SpaceX Transporter-11 and 12 missions, which are targeted for June and October of 2024. And we’re actively booking customers and marketing for flights in 2024 and beyond. So we do see a growth in interest in our capability. You mentioned the six customer contracts that we’ve signed since August. So we’re going to try to keep that momentum going. And that’s the exhortation we’ve been giving to our sales team. So we’re optimistic about the possibilities for future growth.

Unidentified Analyst: Okay, thank you for the information. Yes, that’s really helpful.

Operator: There are no further questions at this time. This concludes today’s conference call. You may now disconnect.