our to for comments you, progress during plans third I'll I'm about you conference our plans the provide the our QX remainder the today's take some the XXXX. to discussing the subsequent CFO Thank our I made will and through Kim I'll of our year then future. quarter quarter third delighted outlook. call. And my activities make during you time and period some financial spend Darryl. After up comments, in we the Jikun on highlights and leading the to talk financial the for
the turning on progress reflect that I'd Exchange. made listed months like as since over our a to emergence past public substantial the company X. on the XX slide and has Momentus de-SPAC So NASDAQ
at resolving to determination companies our management, our work down impressive to development spacecraft As from strengthened a industry We've the contributor engineering engineering outstanding support organization streamlined recruited capabilities. talent rapid of much experience a We've top in the our development of ranks. more and then. below truly chart We in we're the structure aerospace are individual components, organizational engineering disciplined putting develop, substantial of back industries. with than a stronger rigor. supply progress, with spacecraft and and We've repeatable issues and documented its more in operations including assemble, that We and chain and greater test result manner. a development, in to our engineering, mature, made place composed processes hard engineering operations decades of in and program our technology of leaders veterans space manufacturing place the of company were operations put also today and leaders group we and
that our But spacecraft called our the speak and summarize can Vigoride far compare we've we of experience the to saying faster. during testing program encountered issues improvements launched, Vigoride production that the the we of the fly spacecraft the past we X X. and last assembly to Vigoride we're plan just we called do X made X current I with during fewer in by to a are of test evident than of we results as minute Vigoride issues ground experience I'll that Vigoride that the our resolving next encounter The X with recent did we specifics
Vigoride from in and operate during first vehicle. planned. service confidence learned the went didn't our reliability as as things We've Vigoride that We the a increased both areas in from orbital that lot the admission expected of May,
first the second unforgiving, integration and higher So to improvements our as on first operating learned there difficult, harsh vehicle while mission, environment mission. our and our lessons enhancements our mission itself, from and to processes, made have in and into testing with confidence space made had we the is we have going based is than
has been first in contracts our them. since first with negotiating our with flew interest mission. follow mission missions customer currently We're how customers on of two and establish want the to with relationships for with term pleased on us trending are May, who We satellites long
We've customers where since months from first few that new interest mission ago, a were negotiating received as well. contracts also just
fly contracts historical earnings put government We difficulties last realistic wasn't with necessary May our begun As U.S. and I regulatory XXXX. the in compliance has mentioned which which we national all and for time security the this. to behind approvals Momentus baseline did departments licenses agreement this on spring, of on first with our to received call, agencies, regulatory we until space, reached our and bidding
our also a to will streamlined spectrum payload last effort need Momentus determination flight processes can should for next FCC to several government. to regulatory planned enormous cameras submit radio mission. relationship company's flights, Momentus to It for our licensing need currently a operations took compared that separate not it an which we to we for licenses here. don't changes reminder the Going of before more intend relative do. to to U.S. or is we've made will progress fly was for for forward, only reapply make space. application process to of apply simplicity longer unless FAA with no time our the first Vigoride of we the more to be our get amount The the The to improving needed licensing. NOAA
And so we're glad difficulties can regulatory behind put to technology. on we our our so us developing historical focus
experience We've improved and our workforce our also user IT accounting should cybersecurity, better finance improve tools We've and and better systems, improved tools processes for and a productivity. that processes.
the disciplined should sounder over boost and time we the become are processes space we went to stronger time. Momentus was a infrastructure focused it creating time. take investor startup had we're like improvements period company today, them. a believe that company more of from to to we of short these public as approach improvements To that making than within confidence first now de-SPAC. company at And a sturdier a we think Momentus a With We our in a
Turning from orbital our launch Falcon you highlights two X from prior we its to conducted on on picture the operational just mission separation two X. vehicle. service quarter. X inaugural I'll slide launch flew that ports utilizing May in ports, the the now SpaceX discuss XX our used which a mission vehicle. We Transporter-X one these see On vehicle, to of can Vigoride
customer On a X second the from the the including X at second partner. end quarter Recall party of had that we system. two one third satellite the port, system deployed from flew Momentus from party and third satellites, deployer a Vigoride
satellites to total deployed deployments. During the small so the third customer satellite carried When eight it quarter, now of these amount for revenue a of of customer customer we one with and Vigoride Momentus recognize the satellites related far. third now system more seven has the deployed five deployed from deployed space. Vigoride party combined nine to X has the X satellites
were two X efforts deploy nine while the mission on we're Vigoride of is on power about X. realistic The we underway, prospects situation still given board. low But last to satellites the the Vigoride that continue
As vehicles. while much any previous orbit, objective carried inaugural from in customer as on space, encountered primary calls, mission a Vigoride the test satellites as was to learn lessons our to issues learned incorporate some on possible of demonstration future I Vigoride and stated we conference
to Turning X. slide
our from second to in X a and for plan launch month. lessons engineers preparation Busy Vigoride our Our vehicle X been over in little learned technicians applying a have generation next Vigoride
of For the during instance, solar arrays campaign power worked producer Vigoride conduct closely our quarter, to on an third expanded testing the X. with the that Momentus team will array the
intended, identified Vigoride not of bracket and anomaly. that the pin hold Recall and deployable play that The we'll that at aimed during quickly issue testing in quarter. enhanced with a third issues demonstration conducted a during as operate gravity mission the test minute, a in the conducted our root cause we In this arrays inaugural simulated was solar May array X's as video down mechanical connector the campaign solar the zero the that team team similar of the future. avoiding quarter a did deployment
to changes our made these mission. other addition the to array ahead issue, address our we of have experienced we've solar next In the root issues identified causes mission also inaugural the and issues of during
Vigoride from our X is X.X block a next generation configuration. vehicle
Microwave enhanced that was While Vigoride payload be capable X bay missions, was as duration Thruster thermal customer predecessor includes modular improvements much to and X.X designed Vigoride swap hosting to more configuration. or compared Electro which payload designed design propellant block next a longer on prior payload that more block X.X capabilities is us to structural enable such allows to to The flew our its additional and than generation block a X.X capable part configuration for be of X. efficient the capability and MET more
The substantial has through latest campaign. ground generation thermal been Microwave test Electro MET or a Thruster
ground on MET of in propulsion generation October, that a For module next will X. test example, hot fly the fire completed Vigoride we
right is test. a space. photograph looking in firing On this We're to this testing of the the the MET during side MET of forward chart
vehicles Vigoride one incorporated and changed have block many continue use safer we than we competitors to thing propellants. use and waters, which friendly is our hasn't more hazardous upgrades that that chemical that While environmentally makes volatile and X.X
which testing quarter, vibration in that SpaceX and environment encounter weeks couple simulates our X on it of completed of the environmental we we also completed the third will ground robust space the Then the testing, environment X concluded which full a X testing Falcon launch Vigoride During campaign. the Vigoride vehicle vacuum thermal vehicle. simulated ago,
to for are orbit. on performance and next our a about Transporter we Vigoride SpaceX been targeted Vigoride integrated ago. report to We conducted Customer the X next ship opportunity for track days. and vehicle X month space for travel flight Cape excited in to on have to pleased are week plan on review the site readiness coming Overall, X the Canaveral, we its eager We're test to Florida mission onto I'm the in its see December. satellites our to launch Vigoride
X. to Turning slide
our with zero in Earth on Momentus Here's simulated our quick deployment forces. environment an team we testing to gravitational on we arrays this solar quarter adjust for simulate array solar conducted It's Since difficult initial video at and zero carefully for the array test headquarters in a May and that issues gravity sophisticated Vigoride Valley deployment of campaign equipment here our follow the on the solar mission, gravity experienced a test Silicon solar quite missions equipment installed vendor. test vendor. to collaboration with in specialized with of new require array our enhanced in partnership added
the aim test mechanism ensuring does collaboration not in the on new Momentus to In to the that experienced issue the Vigoride X we with repeat will on the with our you can taken perform of video the In successfully solar on array mission use this see hold vendor test of X we that that apparatus X. spacecraft. our next the with fly down Vigoride headquarters, Vigoride cleanroom attached the
the in would with X.X Vigoride ground the see testing During down into vehicles and that of function that for our one our solar additional will the add Vigoride tests next campaign also than array properly several opens likely this that X confidence out the on on on you used block I This X fly, X. array enhanced incorporate subsequent was mechanism Under array that and Vigoride a cleanly. launched solar point principle we test test test, be our can the configuration of we vehicle different is Vigoride which mission. hold conducted will increases the orbit. our
situation So the power is part plans. low part on the future for was not our X Vigoride that of responsible primarily
we great were The in pictures our the progress Turning to slide when spacecraft cleanroom California, X. Vigoride preparing some This it. has spacecraft in the slide we've just in assemble San Jose, top illustrate picture its the left X for operation that beginning at the shows made space. to
the integrated trace as you from that with Caltech Customer upper NASA's solar the can These the payloads Voyager our energy with transmission, picture journey been Cosmosis can will testing well experiment preparation from customers. on cube X The cutting right. two hosted our other launch. XU grow the center mission This on on a potentially a mission allow its for demonstrate see of payload have as hosted business edge photos the in a spirit on and pictures stages system, of Vigoride capability payload through to far for explore in evokes other which innovation seen the and and set top include hosted us be to which payload deck.
powering to called The slide to This above SpaceX ground stations, transporter-X synchronous deploying in will over go and X orbit calls communications provides overview launch into disciplined procedures, of a through sun little Center at miles Turning will Earth. for use of or Earth a slated the including launch, a the Vigoride vehicle its the startup low an up, where be ejected just sequence Mission the on Jose. After orbit mission to XXX panels, we slide mission. is separating from second to our solar XXX travel Vigoride Momentus Operations for the with plan our San to X establishing over kilometers control demonstration Vigoride plan altitude, it from vehicle, X. the
Vigoride the deploy of host X its operate powered orbits. sequence, ability its through completed Vigoride X We While Cosmosis entirety Vigoride will mission. for we to plan flight payload to after Caltech's space in maneuver plan and to satellite, test startup different to
course space. to microwave the system we our this note, of propulsion design thruster that and the Of as to electro a Over test of water mission, the its monitor operate plan and performance subsystems inform during in to spacecraft the plan iterations. we uses fully future thermal mission, propellant
would to of into it put that mission, the naturally orbit our more debris, is re from plan burns do on than a space threat up and we orbital conclusion significant rapidly attention to is We the so the At slow Vigoride enters reentry. much low it to which some beginning I'll to aim discuss regulators. to government of finally a part sustainability, as X receive accumulation welcome
the our meet correct to any perform anomalies mission, we experienced planned going on mission remain We during the mission and apply to As but our the to test intention that not is can lessons with our also confirm was forward. learned technology issues mindful opportunities to your flight find to case inaugural to future the demonstration not our improve find the learn just that plan expectations, equally flights. and from you objectives, but we design. improve fact just We your to
X. slide to Turning
collect Through from working hosted mentioned, edge including feature that a transmit places then power wherever no I to experiments solar a with wirelessly access to reliable X based As it's Vigoride Earth, the deploy project. researchers energy electricity will currently transform needed spacecraft to payload it of transmission on modular have constellation cutting is on this to sunlight, power. electricity, of that a space Caltech's into team project,
We're based and in rendering upper mechanism fly these solar slide, for Once of proud operational, their where can this one hosted In project. payloads team's power of you and X positioned three send Caltech steering. will is revolutionize for to it. solar performance deployment feature the so aboard performance, Caltech the program Vigoride thirdly, demo each support is foundational the experience The space you that focusing be energy test mission it cell vision Caltech on to see Vigoride and this wherever you to nature on to validate; need the can being deck.
to overview XX. turning provides our This So slide production an in where early of slide vehicles. of we stand
is I its produced X With of Vigoride ground four the tested built Vigoride of Vigoride provides nice Vigoride but X are completion while in of visual status in testing Vigoride this the now chart remain X fully Vigoride X X space. storage we've a discussed campaign. vehicles, and and already complete and comprehensive
not using a in disciplined best to orbit. position to testing, of of stress validate on the progress, also for possible success part designs only our and approach to a ground us engineering as continue critical the but We importance put
which rideshare launch transporter-X SpaceX we end X to with on signed May currently on the XXXX, targeted October targeted for for Vigoride mission reserve be the February transporter-X X on which targeted X for transporter-X although now every plan on for schedule currently Vigoride we XXXX. plan Vigoride XXXX. agreements and is Beyond mission have X also SpaceX currently all, service is for SpaceX And In of to we tight, between Vigoride is launch to XXXX. space
Turning a services Triton-X of German from satellite commercial a LuxSpace small few provide with to LuxSpace gain plans slide in is has in based the satellite to XX. This manufacturer Luxembourg third today, slide this represents OHB. orbit quarter. and satellites Momentus XXXX. highlights Momentus. a subsidiary shows to share Vigoride from contract hosting LuxSpace the payload
signed a Under its Space for with quarter Space research also Momentus to plans in the to X.Xu during XXXX. We contract Center. NASA's Weather third contract orbit Kennedy NASA LLITED transport satellites this accustom mission two modification
more support thrilled marks this broadly. the for a important our scientific big milestone to Signing We're effort in mission government NASA. grow contract to into services this business
behind we important NASA As business to effort ramping government that contract us. regulatory call, we this our And step on historical more stated our that are earnings an as we win last now view our path. are along up issues
us committed upcoming confidence NASA's in validating to are mission. We fully in
payload and hosting memorandum plan signed this services. provide under Cyberspace quarter, understanding we Finally, with of transportation to a we which
is and of a a continue ahead. a it we're exciting opportunity lot player leading in space with market, We infrastructure to growing still that believe
XX. slide to Turning
deorbit them satellites transporting are we invest missions capability are orbit, on rendezvous early hosting on with are orbit to repair, new opportunity in We to for satellite in or give see to real and that our already view Vigoride the servicing satellites continuing R&D focused space and to in to While us. signs markets and them. a of emergence. this substantial we're And refuel as starting
six adopted satellites. have from operators deorbit their five Prior require not did their new following to will satellite low conclusion. For this, mission remove instance, orbit Earth a operators rule satellites FCC years satellite about requiring weeks FCC within role ago, the the a to to that
that Although it guideline conclusion. they following so XX issued mission a years had previously within do
for the short and approach orbital applauds Momentus threat space and proactive challenges we as to FCC term other to access sustainability. is hope space that long and follow a debris regulators resolving taking and suit orbital of growing a large debris the will global
objects There instance, over far a of rocket coin. tracked, fragments about size including the debris approximately defunct engines, XX,XXX space teapot, million of a or and and XXX tracked. size are the discarded size tons includes pounds For satellites, debris the nearly Space what's more that Agency And of are just is European explicitly that baseball, pieces X this unidentified nearly manmade XX,XXX million roughly objects roughly XX and tracks are acquainting debris. of are explicitly approximately metric that and million a are XXXX fragments, roughly the XX,XXX which not debris XXXX of XXXX to that
expected we deorbiting worse. get of these problem satellite The pieces collision rule could a kilometers acknowledges customer a create in debris and from is damage satellite of for and the deployments demand rapidly, XXXXs orbit. could problem, new will significant per of are services. second, this debris growing With seriously satellite many to additional a the in expect of FCC collision, number as create one they traveling Any a
us on a this problem and a Defense U.S. investments about think debris contracts in others removal think on years. But Satellite over orbital with beginning letting and to stance work this from missions that debris. early who addressing studies I'm mission. more deorbiting growing complex advantage We also developing the regulators, been several the of Department competitive say and now. been problem for anticipated a active our to for are demonstration is just NASA provide proud have has investing for Momentus capability
us about are next we with deployments or receiving with hundreds if according early entire view It's deorbited not forecasted quantify requests too Deutsche for consider to as multibillion in for annual triple a proposals be the to precision. satellites envision Again, but need a the from customers potential incoming satellites, hard be that scenario deployed addressable opportunity to indeed, dollar satellites with XXXX it opportunity we And which much are precision, It's deorbiting of that for a already by creating to constellations, this substantial this Momentus. each potentially you will roughly of But on forecast decade year, can't XXXX XXXXs to market. much satellites. and Bank. of we annually within
Turning to slide XX.
conduct earnings in said currently to call, orbit cash the missions, plan to on implementing costs customer operating prior we runway additional and our our have demonstration As satellites in reduce our developed us in are a more with provide balance I and sheet. to order place
balance We continue on allow cash making before that reductions markets. which to at our more X the to should Vigoride capital with to the of we're end the with perform need access missions carry us through we XXXX, the should least sheet us estimate
$XX we between the extend established prudent potential opportunistic runway existing of in issuances million September. under difficult plan markets. capital capital state given that including plan be cash to and then the to program the We believe our about it's ATM now raising to We
of our funding opportunities government Department government We critically of see important particularly our for we're gain blocks term to long technology balance at While we're focusing government. development success sheet the significant our to supporting on foundational NASA building for efforts spending, increasing our R&D bidding our our programs most also Defense cash and R&D these stretch focus on and missions while internal organizations.
with XX. why few prepared my an to Momentus I attractive conclude slide to investment. a is on Turning remarks would points like
cost an more providers miniaturization. from price between for increased to driven that of market attractive the is is forcing launch the larger various improving orbit access launch by serve and become because them scale declining, vehicles, given on that competition efficient to including we First, economies through reusability satellite means one, the is space capability is
And of services should As deployments public space this, and of drive sector private these we're infrastructure already lower start a to Both sector recognize space. play once both need and services growing. satellite out. seeing the satellites additional progressively result and is they costs, get number the in investment the to by the which
In [as regulatory Stanley favorable addition, FCC an than forecasts the expects double example. the being XXXX. environment The even at with space Bank to defense billion growth. team appears new by team faster Foundation deorbiting I] size economy more the about $XXX America's mentioned increasingly of $X Space important estimates to Morgan market space today over trillion the aerospace and of and
space view we market for it as of segment and the Overall, the attractive. economy our
Momentus we while sometimes growing have Vigoride this our seven is OSVs suggest transportation. and is But service or to satellites launched lot Investors a only deployed built of testing OSV market. aspirations, competition there of within well-positioned orbital others have capture in customer it. few portion space and already are from that vehicles companies a Second, have flight a already
service, we capabilities configuration believe segment. this and a services our power month, on and payload a get in our flexibility that customer next space advantage and our Beyond hosting in mission. We size offer we substantial competitive Caltech generation Momentus have of transportation
this decade. and orbit offering satellite service and our on removal build to later refueling continue services as maintenance to introduce such in orbital and we plan debris Meanwhile,
providers think agnostic increasing associated it companies benefit Moreover, and from launched When should over SpaceX we launch Momentus up, as capacity launch so the time. such is are price strong. competition I among all Vigoride add you well-positioned with competitors. relationships amongst Our vehicle launch
for meaning privately who are in most think them In equity are, competitors addition, infrastructure. to you invest investors when our space ways aren't there many of held, about public
Third, profitable we we very get be to can a this confident remain scale. that business once
and costs today's flying early exceed bigger we're at a low learning and revenue curve the still rides frequency. are producing on Our
expect utilization economies as we still capabilities, we more customers we're demonstrating Vigoride reliable, to vehicle able mission capacity and Vigoride only a each Once our scale. is prove and to result of the Vigoride revenue same be Furthermore, to a generation At learning time, we efficiently produce mission. to on few fly able increase. because we're the expect per of
result, a grows. profitability As revenue improve we think as should
Additionally, once reusable costs. we on manufacturing discrete to Vigoride introduce start boost we and a expect save margin
bright companies. And finally, outlook among space be innovative of capable to Overall, the I and driving space of the team credible leadership that all for a Momentus, experienced in providers, de-SPAC. most potential investment. of with transportation compared margin space just The and our advantages other Momentus privately held, are make attractive months at where demand this competitive sat scale ago, learning for we and growing the infrastructure of services economy, improvement and which and is the relative to most future's combination XX favorable highly for particularly believe to time we the provide, our
about on evident hiring forward a comments that put is was as is by which year today to success. R&D spending business improve capabilities, most our strategy and based are critical to our ago, this the focusing driving in that place on We on better my our
satellites, what on five implementation X accomplish our our with learned deployment of launch lessons month, progress the and the contract X this towards customer we pleased am implementation plan. able cost I quarter, additional of next X, including the reduction of conducting the initial our Vigoride customer Vigoride Vigoride with were to NASA
we'd here. for thank And like their like and to to also thank us team investors dedicated getting support. for customers continued I'd our our
your mic Kim then I'll Jikun to now CFO questions. hand take and the our we'll off
