Recent MNTS transcripts
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| Mary Horne | executive |
| John Rood | executive |
| Eric Williams | executive |
| Michael Mathison | analyst |
Good afternoon. Thank you for standing by. My name is Jean, and I will be your conference operator today. At this time, I would like to welcome everyone to the Momentus Inc.
Third Quarter 2023 Earnings Conference Call. reminder, turn is Mary the Investor a like recorded.I Horne As Relations. to now call Instructions] today's being call would of [Operator over to
begin conference. may You your
hello, Officer. here today Eric as John quarter remarks. and Thank company Momentus' of Executive well Each Williams, are prepared Welcome Board and call. me conference as Chairman Rood, third of you, will With provide XXXX everyone. Officer earnings Financial the Chief Chief to Directors of
take our questions and press an will analysts.Earlier website, these today, a a we Following our financial prepared provides issued from release quarter. the slide we remarks, business which for of overview presentation Investor made highlights and available on Relations
call, we make statements download of XXA Act the XXE forward-looking a Section will meaning of within Exchange the can Section the of XXXX and and copy XXXX. of today's Securities presentation of Act of release certain You investors.momentus.space.During the slides at
that statements cause are the on and in events projections statements statements and and Many current to other Forward-looking differ materially future to predictions, future forward-looking this and could a factors subject result, are uncertainties. communication. expectations risks are based actual assumptions, as from events about
forward-looking materially that disclaims expectations during that may today's cause financial call.Please put our plans, the the information be non-GAAP and call. information should forward-looking undue statements update are please the that as factors Commission. we not refer forward-looking certain results to more the statements, about filings the any issued to we this in Readers You discussed the refer to press statements, may with release to may as forward-looking statements be Exchange on today's note and obligation actual on listen that company's materially the call also will well company specifically and with Securities reliance cautioned different disclosed actual to the understanding from differ today from results intentions earnings we to make.For
non-GAAP is non-GAAP our accordance or in to financial most to substitute release. measures financial the comparable the to with Chief over of Chairman reconciliations find these in measures like measures GAAP Executive and performance that, the I'd call Officer, GAAP.With measures for press a prepared earnings of our can You John turn financial Rood. to of superior None
advances you, the Williams, the comments, Eric be today my past being a QX the It's buses services will Thank transportation Mary. Momentus highlights customers. and CFO, further a the our here goal take at commercial provide made I After pleasure over leader financial share to and outlook.In through of for market update quarter, and we've U.S. to government you quarter and an towards made progress on financial satellite for results. support Momentus third in-space our make and our
market, possess we this forefront satellite we've launch expanding the at places of signed key Our orbital customers, us seen the advantages we from heritage X demand we with new shown by commercial mid-August. competitive as and vehicle our bus.First, both growing repeat and differentiated new since believe contracts and service
sector call, since gross tracking last our $XX.X and extending of that at Tranche to government and bid or in proceeds with its Development the addition, SDA, program fire a reduced we In October, defense proposals Space Agency our submitted million the capital to Space response has for U.S. U.S. request tracking opportunities the in agencies. see expenses and control.Second, missile Momentus has continue for intelligence operating to perform Force, involves the additional call. the layer in since XX we our earnings in earnings raised producing And raised company satellites to runway. X last approximately aim
QX operating expenses XXXX strategic reduce from to pursuing We a navigating year-over-year evaluating have raise from QX, QX and with alternatives. headwinds shortening continue the That working reduction over and also to addition of cash cash significant runway.In a XXXX. reduction a to our to QX to taken said, in we also steps XX% is additional rate Momentus face burn of capital,
that of Momentus Management quickly past indications than multiple alternatives, has company has the received discussions continues strategic partners.Over profit, itself with interested raised to engaged ongoing. to the note on the commercial interested production that viable parties capitalize all could from pursuant company interest potential a it's weeks, position evaluation with bridge parties of to company's partners several part to options.It's a strategic in any at important provide potential The that with be any dozen As order -- curtailed or in note and to evaluate the raised capital by been confidentiality operations the strategic company any the a half opportunities important insufficient to are if company more capital to potential of by is agreements. ceased. strategic discussions full
X finances operate flight Our to our clear lean Orbital markets significant advantages. information our additional few to Vehicles is we that in technology CFO, where continue valuable a Eric successfully believe minutes.Third, we gaining competitive into Service in Momentus a continue will and orbit, company's we heritage Williams, on Vigoride we has of the believe demonstrating provide core advantage.Fourth,
satellites and to satellite are and The and successful large Vehicle on deployed footprint market.And including our and this solid water propellant Since demonstration seeing Momentus deployers. executed we low-cost, in satellite customer using and friendly in Thruster Vehicle testing Spring For we meet mature preparing bus Orbital of XXXX, uses already interest thruster and finally, customer satellite example, to our Vigoride our year.We've Array XX government pioneering continuing our commitments. we of Service Rendezvous launch our our competitive customers. innovation Microwave flexible early well and and Operations within technology are new have Service and and in toward advantage, offering. our our bus driving for maximize working based Solar next engine, of expanding and Tape our announced Electrothermal recently Proximity our to our environmentally bus M-XXXX as its that flight-proven M-XXXX Vigoride commercial a first our of Orbital including conduct demonstrated existing We're testing capable offers May bus is has and demonstration a space,
hosted Caltech needs and using meet services to an and Earth the operational, space be it to support new by our successfully Vigoride-X beaming customer on continues space launched demonstration technology enabled demonstrate is addition, to solar In in spacecraft and XXXX payload to cutting-edge activities capabilities. conduct mission of our innovative collecting ongoing, Earth.Our in January power
mission our contract missions.Also, past that payloads. has is from services as is Power full missions, payload greater more efficiency X MET planned the firings than These during reminder, where we demonstrating successfully transfer types a to during to over accordance the commercializing power at in and a As operated are of payloads Qosmosys provided Momentus hosted uses easy-to-handle firings. to vehicle environmentally in and payload months. times. provide for quicker with friendly.Recently, Vigoride-X custom across advance the of missions using system Dual deployed transportation achieved a testing like deliver to its and orbit Space safe, infrastructure cases, use firing satellites the Solar customer with of conducted Demonstrator Microwave this profitable for capability hosted mission, team its satellite operation mission, of hosted in-space and Momentus the enable propulsion Electrothermal have thruster Thruster propellant. in the longer the larger duration services testing hosted or MET pioneer same space, particularly range MET this propellant we durations started dual Momentus technology precise water The thruster orbits to and Caltech's
Vigoride intended is or of minutes MET XXX by orbital the achieved on in that or approximately and to water firings.The in the and look between XXXX MET launched firing April for missions total, forward enable spacecraft safer Its using dual have We're simpler, single U.S. MET that approximately to nontoxic we've firing in to missions. Vehicle of firing the times as we support the kilometers with also today, operate in operations, has space in in ongoing. commercial its to these space. perform cost-efficient Vigoride-X MET to more and is executed launch time thrusters. Earth operational we of shown intended thruster for operation Momentus Orbital In both government As mission on has proud times customers.Our the it X.X of ability Service raises the are OSV and propellant required preparing technology
University, We Asian IRIS-C NASA. CXS have payload and deployed CubeSat all Aarhus an for the DISCO-X X REVELA payload satellites including for for VIREO ARCA for customers, through for LLC, satellites CubeSat ISILAUNCH booked customer the the Dynamics, for
multiple of million these use of As in support and commercial of a of revenue our culminated proud the for recognizing complex reminder, this the in missions. year.We particularly Momentus Vigoride vehicle it, deployments see more $X.X second in quarter performance cases of successful are
customers second sensors. spectral technology The of we Test X like is SpaceX who the to for changes worldwide our after place many mission and satellites.The Picacho launched to for customers which industries. whose goal are that of needs after have mechanism of mission, are on various which confirmed order subsurface in X future will Turkey X part This making using are satellites find. are will have position inform satellites radio deployed launch. Lunasonde into the carried ecosystems for a the approach water minerals company's have the of capabilities launched for Hello most to designs IoT and them ionosphere, or require our It test In on the underground a demonstrator Hello example, this November we of to vehicle.For orbit. company company IoT requirements require the their for cube deployment other those U.S. recent cases, that, flight is orbit.There a conducting. the power, Transporter-X that deliver don't measure satellite part third serves signals end-to-end deployer in and the like and in Space's and release X launch low-frequency of mission our mission X CubeSat services resources Hello can The X satellites also help satellites another on their we deployer, the of pocket XX, Lunasonde, Space's this will enable Vigoride use X Hello of a at Hello including to Space time data customers intended on don't in is orbits. from vehicle We Momentus a for Delta-V broader imaging and that with of easier Picacho the customers velocity satellites Hello mission density
Transporter our understand are and vehicle next launch Vigoride payload into and with orbital this to customers earlier our coordinating X satellites mission than SpaceX fly communications targeted next that on work no to day.Moving for XX their we XXXX. we delivery March to on establish SpaceX system support X services mission. as has the Vigoride-X, that requiring X services hosted of well deployer with and contracted launch support this We Momentus that operational the require vehicle, possible they expect On customers with our a as year, customers will as for total of to mission, on customers
We will Proximity carry and Rendezvous we Vigoride-X, generate hosted a anticipate Vigoride-X. that planning revenue we our are use also payload Momentus and mission than that plan will which economics, a Vigoride-X would we Operations fuller to improve payload, demonstration.With more for to conduct
a We to new to product offering signed a at I positioned M-XXXX configuration at low flexible, reach low-cost, pace. buses, As billion XXXX quick delivery manufactured production expanded M-XXXX core our needed Allied the than call, customer the as for rapidly same be the Vigoride-X It a greater meet flexible tailored projected timeline Momentus. the as our a The such mentioned, high government, competing we launched Market with and spearheaded to satellite capacity VIREO cost, customer in competitive at transportation to buses this by last orbital M-XXXX in Department bus bus making our to billion as mission market satellite by scalable X be features different mission is powerful requirements include and to April for to valued power, and highly technologies utilizes Vigoride, $XX.X our XXXX. the requirements we individual customer commercial according across in needs, Research.The a transported satellite CXS One, CXS market.Since and customers. and was support a payload a and it both can will on of payload We bus. repeat is CXS earnings have signed of Defense in enhanced $XX.X orbit but mission is serve contracts. meet well our commercial services XXXX. contract offerings rapid customers believe the XXXX U.S. we've to believe
LUR-X SOWA-X and Senegal contract a year. And quarter their with payloads the FOSSA University satellite to X repeat transport for signed in signed XXXX. placed year.Third, Aarhus for Systems, Secondly, the that Djibouti. provide the that low-power with next starting orbit, with Aarhus Space in on nation contract signed and in SatRev sixth, of most or company a second for a orbital additional services RIDE! mission XXXX. innovation The their of small recently, IoT a contract options to satellite signed year.We fly for X AVS delivery of next including offers business to payload contract with in-space Defense late a receive also were Earlier the services we Internet customer.Fourth, first customer. Space this year, to orbit of a is payloads. from Force, interest We is FOSSA for we Space first contract the Momentus our contract satellite and we Vigoride-X Development second government in fly encouraging transportation low-Earth research SDA. U.S. awarded connectivity Spanish the we Agency also April a this repeat with quarter Department continue global in to includes hosted U.S. to the customers. payload hosted and launched we signed another a from also contract or also Things, Aarhus payload services in of feedback a see
bid scope of areas contract contract is we a million, project's $X.X exercise. these worth an Department option option total roughly that contract first This $XXX,XXX includes and system support to of include modification Service satellite Defense recently to interface, involves expect payload million. of that This the adding mentioned contract.As making add recorder for tracking hypersonic million. of exceed Tranche high-volume secure recently first layer and building of X Vigoride the for SDA which tracking of the an SDA we a program, XX $XXX well earlier, Orbital modularity tailored optical the bus milestone this $X.X M-XXXX SDA fire modifications submitted we control value data The ballistic the phase missiles to a the would bringing underlying over to first and completed communications additional We improving system. terminals, involves a to the Vehicle a range payloads.Some the the will as for as satellites expect the and under phase propulsion
encouragement interest. increase our capabilities industry grow of the aim and and may We this solutions, services take from we visits our pleased for our compete, and to to We and continue some defense believe favorable past for will have Department understand quarter.We our government time senior Defense and government be. continue about the leader in receive see to into intend to as heightened it we confident host we demand to the U.S. capabilities feedback to officials we're been government headquarters to
mature ensuring pivot as to the revenue this continue to and ago launch. large our the expanding third of towards bus launch and meet SpaceX marked schedules aggregation stream, a days satellite our few optimized Transporter-X mission demand.We we we as a anticipated the launch just addition, year market pursue with to are In
deployment the satellites. of customer As to satellites working X X are I confirm deployed mentioned, and we additional
unlike to already many with well are of in to our continue customer continue We the SpaceX XXXX positioned are excited momentum deliveries. and competitors
The and billion all is classified report, June July space including XXXX, of October department available and targeted Department opportunity end of government $XX.X reaching the mission by The XXXX.The The on Total and global intelligence experiencing XXXX, is of reaching majority in X%, the nearly well satellite Space released was power space grown the spent for spending support space the climbed on of targeted U.S. Foundation's tasks. unclassified of capacity growth. security estimated programs, makes shows XXXX, payload strong Momentus $XXX substantial for We U.S. surveillance, branches Transporter-XX for targeted coming the a February missions like and to of bus have OSV billion on for and mission Transporter-XX to Transporter-XX from reserved military XXXX space $XX.X Defense. a flexibility, national the the agencies which and in annual missions $XXX on the XX, situation other space the awareness, to increase.The over market commercial have M-XXXX for all them billion. market the that billion. XX% positioned X%, and Vigoride Transporter year-over-year with through range space mission reconnaissance grew SpaceX economy ports XXXX, of
Department it operation Momentus payloads to traditional Momentus also inclination government like and but communications the orbits deliver rapid apart our companies requirements interest from payloads initial as these security factors support equipment Vigoride and security customers that responsible to ability can change only we're requirements altitude demonstrating comes security with of U.S. national missions OSV support national able no custom missions.Other from our So surprise high-end speed, unique power-intensive, are setting orbital to from support our as sensors, distinguish Not electronics move such other national that to Defense customer capabilities. for in to also competitors. space and mission in
U.S. meet a with suited team contested of well like officials our national Our support maneuvering differentiated critical XX space delivered support cannot edge market, space space. that have Space us experience and while security in the addition, Momentus need environment.In highly who department capabilities the Saltzman capabilities to make to we and grow needs Operations customers. the gives engineers General functionality in space value proposition as experienced goal.We've now technology, orbit with of believe large competitors of satellites history, seeks Chief defense of capabilities over professionals Force to decades the our that us the along international of our Space in and operational our the demonstrating and kind U.S. these in senior its other companies discussed highly an of
de-orbit develop to also servicing to new market the to expanding of bus our improving continuing we're to differentiated links, satellite M-XXXX mission We are vehicles, terms to for are and capabilities technology U.S. adding working security incorporating and and and additional large the space a mature develop expanding product our classified offerings such as precision tanks, option enhance adding satellite their and pointing Vigoride the payloads. data expansion host sensitive and bus features markets.In government performance to features and high-speed
begin yoke building recently TASSA that designed some of our mission. is this technology. in This Momentus the more We we'll boom to April its TASSA, well technology provides to retracted great for flexible conduct fully using annealing.To measure that retraction of Tape space Spring continues solar the mechanism. addition, for behind thin utilizes major to solar performed solar which development requirements notified The flight-qualified, expect on the is company initial performance deployed Momentus and requirements. improvement to rollout basic replacing allowing missions will approved times, features able Once cells XXXX.A that to production of TASSA in based was produce introducing tape to as need included a TASSA on deployment, confidence recurring overall as to or low-cost Vigoride's identifying areas solar utilizes in-space array varying as Vigoride-X technology, of configurable film solar reduce Solar and radiation-resistant complex slip these date, power the innovation performance was generation, ring our TASSA extended is concave TASSA.In of estimates are be in cell Testing and application substantially deployment, Array, the the out be the majority retracted our was the cost patent capabilities, spacecraft. issue to has future. with array film we're and a cell current been demonstrate Momentus shape example is our lengths testing orbit rigidity. power like cell flexible since numerous thin on the and
maintenance move and responsibly services towards or me instead and would a a return another demonstration of on its advantages the to Vigoride will heritage. later end A be their that of let demonstrated stay Our our to customer reusable rendezvous in SpaceX safely Vigoride Proximity is that and RPO of be would of gaining after for and satellites domain ours, reentry. and that mission, on us extension and customer in to Currently of planned progress. and Rendezvous lower awareness RPO launched reused mission would each evolve expand useful differentiated Vigoride flight therefore mission right as after reusable refueled its greater and on February advancing which during up mission, inspection scheduled orbiting make satellites to continues is capability can which version demo One, life. with launch.In the for Vigoride is competitive version services away.The technology space perform menu supports the focus include services summary, provide burn life Vigoride-X refuelable or additional Vigoride Operations and missions. innovation as the investment degrading refueling well The to RPO completing orbit to in-orbit allow providing technology mission inspection, RPO of will to Transporter-XX Momentus just provide satellites, the of space and at thereby also say XXXX. completing
signing Secondly, contracts. commercial by additional
business capital, And in-space Third, the department for and satellite the refueling growth growing emerging fifth, greater greater logistics market government defense satellite options. Fourth, and and gaining raising de-orbit. by reducing and organizations. interest positioning and from bus pursuing for U.S. expenses strategic large and servicing, in market
Williams, from options, to turn of are we forward signal CFO, range our getting demand over with the things customers.Now actively strategic continuing and concert are We Eric considering are in key I'll update. to technology drive the investors new we seeking our full while provide to that an
our and raise with events the $X.X our began achieved approximately are with to the in We was QX team I'm current unrestricted earlier liquidity Similar ability status outstanding conditions XXXX. $X.X and to to during our external conducted QX pleased projected equivalents cash about XX XX-Q term cash XXXX concern our the of the doubt flows financial taking for million for This by that quarter the determination analysis account substantial company that for evaluation introduction. management of the our the is given to of into John, concluded as comprehensive third our going as that include next and continue to loan earnings cash repay language Thank evaluating this gross concern. obligations financial debt the meet quarter of XX we ended current will the a XXXX. certain balance, prepared of and next this after results cash consisting third there a a you, whether present we months.When year, million our months. March release of unable concluded for Momentus going factors, statements its highlights of
and consistent as relevant going our raise burn raising has steps respect continue Although the capital. we our business rate primarily to concern equity of while successfully history to transactions and guidance, a opportunities or not financing working runway and any take extending with of several cash of viewed anticipated assessments.Momentus taken equity, additional exploring purposes new to generally managing the with proactive through probable company for technical cash issuance the are has continues projected
million XX% burn execute initiatives.We the substantially our both retaining invested our near-term key and employees consisting reduced we of approximately million our headcount on rate while approximately of we reduce full-time by talent the need end QX $XX.X to to down Towards in contractors compared compared XXXX, XXXX million and QX during as $XX.X activities of QX $XX.X to XX% in as of million flows, as XXXX. lower statement operating detailed XX-Q in QX $X.X our $XX.X to down in sequentially cash million or
registered strategic to million addition, a on been additional pursuing In gross September we while working quarter, the evaluating has direct offering, and XX, in alternatives.During $X successfully the capital proceeds. raising raise company executed
on $X of gross the this the via a previously X, existing XX raised warrant proceeds October $X.X fiscal direct since million from the closed the of proceeds in additional on last offering which an gross for proceeds prepared In also and of a remarks, the quarter. of evaluating raised by $X.XX and quarter, end strategic In is addition, by alternatives. total warrants since mentioned inducement in pursuing his agreement, in since total, registered the last gross earnings Momentus $XX.X million November million gross in company approximately call.As a on proceeds million issued John company we million X exercise our October $XX.X end
result Momentus interest of a of partners. strategic effort, As has received potential from multiple this indications
with has Over half several dozen engaged company more discussions the with partners agreements. been the ongoing. months, interested to past confidentiality than in discussions Management a strategic potential pursuant are parties
raised potential evaluation, While that company from any evaluate capital be the provide interested there can any and opportunities on a to ensue full company the to is the company's transaction profit, position order parties continues by be if no certainty will the with commercial to or production itself in addition, to capitalize options.In quickly insufficient curtailed strategic ceased. a viable the at could all bridge operations
losses QX and was compared of from meet consisting of this XXXX to of customer improvement for operations, quarter R&D milestones in further negative backlog, in QX while appreciate, allowed operations an respect adjusted million providing we to EBITDA variety future million QX year-over-year third approximately XX% approximately $XX.X be million, in has compared $X.X decided $XX.X $XX.X in to our Non-GAAP $X.X discussions improvement service We also of QX expenses the year launch. recognized the million, of of given in We the an associated aiding as for increase million third And of QX $XX.X as QX near-term in raising.With are totaled sequential quarter, a from of the forward. generated the of business at during generated XXXX.On XXXX. million us As improvement I'm XXXX sure XXXX. to million had X.X Non-GAAP which helpful XXXX. any to reverse company. of meeting be XXXX, SG&A time.We the non-GAAP a basis, our of was in toward quarter compared have as with better comment XXXX, from a a totaled for QX was million outstanding.In third from from grows. the quarter Vigoride-X our million we in going which unable less $X.XX of to more you QX, we million of down approximately stages expenses revenue This primarily $X.X early XXXX. from year-over-year completed during NASDAQ have improvement $X.X we nature to the our split expenses operating quarter, metrics losses a the stock, currently to requirements of $X to these backlog of can million a found addition, more on In during We prior. revenue approximately million of XX% XXXX from the metric QX of of listing $X.X capital work long-term useful to a continue contracts, the shares find XXX%
to the to to the benefits to non-GAAP will as of announce numbers forward-looking hand Please commercial We arise. now reconciliation Mary. refer metrics issued opportunities will financial providing press back release call continue today the the for assessing GAAP.I while they of continuing
to to session. offerings.Operator, call our extend of participants non-GAAP Thank includes statements outset the relating how call. participants would In the disclaimers all outlined that moment, move I service disclaimers you of planned remind forward-looking our and we underlying at to remind a on you, technology would the please queue. This this to enter like question-and-answer information, Eric. portion financial to will our the question-and-answer the
Singular Michael Research. first Mathison [Operator of the from comes Instructions] with question line your
on progress guys. all Congratulations the you
Looking the that, X invited Tranche company. bid? how about forward, to SDA the winners the potentially you last from will when for have on Do talked bid the -- you quarter sense we when SDA that's of transformational that choose a
York and was SDA's contract a a to Northrop Michael, the announced Transport a for Space the SDA partner in and in July, Unfortunately, for recall, contract recently X to award you response companies Layer other with group request of Alpha. called Grumman. program as Momentus submitted selections the bid, awarded for proposals Tranche
Tranche It and undertaking. our detailed So individual that Momentus a significant long In Momentus evaluators selected pages to for are was designs step required. that agencies this use programs as not our and say technical was that Layer major major They established I their nuances agency. analysis processes U.S. at competition, company. well proposal, hundreds bid government Alpha that submitted forward defense would department teammates an to bidders the like and for importantly, Transport and a of that they for X experience Proposals the are nuances for of requirements as my with the use learn become in takes the with time the for contract.
work companies and at common baseball you a of taking it's were contracts. SDA in analogy, during another need SDA were I have we to batter's getting and would think other set We're that but some Space my large they Certainly, box. hit. very way. figuratively learned. have strong in Martin previously missile best I were guess, and under disappointing selected that as such already a lot with and for explain nuanced the XX satellites about again, we companies program, this in swing competition. an Orbital.I not for was proposal a mentioned Grumman tracking developed While not is fire selected, bid. the is we're were Terran back prospects York number who Momentus and of feel like a reasons, again, evaluators our SDA we Alpha for industry a to Tranche And the We've we attracted layer competition a competition were you the will, X X better a government teammates under it's tracking very the are with competition, this we here. we're involves control. say for improving tracking I which process We're pulled partners together submitted in us producing Northrop note program. We we're the on use Certainly, Lockheed before there positioned Also, a optimistic stronger not -- awarded how Alpha submit.And will, another contract we in also familiarity set the the greater if Michael, well implementing are learned even with were teammates we've as more that selected that and the partner every way would earlier proposal award a who the a Tranche than won remarks, if we've the I'd bads, lessons and this We of layer contracts.As journey, do we
and the mid-January. the engaged bid layer stay that in award SDA process is projected for we'll tracking from So
Great. Okay.
ballparks be of idea you is pretty little of sort bit provide? can't much your Looking Vigoride. R&D, of cost have technology reusable attractive know ongoing any I your reduction ahead but of the reusable something a in you would technology a service about how a some of to that's precise, do
thus reusable a would Orbital X times. major economics robotic version. used rather unit some reused to develop mission, course, is mission would of Vehicle or -- reusable version would completing Vehicle. course, to on after version, in expendable integrate.A that do be and There far, we payloads need the used Vigoride, arm where space it Service expandable other the an that we Rendezvous Therefore, hosted fully Orbital Michael could would estimate delivered expandable has Service improvement And payloads. the X use subsequent stay the be work the version. reusable still over fuel its Momentus customer Well, -- the that Momentus initial Vigoride refuelable of of launch or or replenishment its This then satellites to
us Operations capability we big target next mission satellite. and attempt enable for scheduled that release it of demo, do Proximity satellite, take software, necessary of and within Our kind XXXX, to plan meters will Vigoride algorithms to to X step Vigoride technology is the we the do for This this will when will a Rendezvous maneuver a other sensors, of and that will then towards demonstration. this test the that the what we March In shielding reusable or future servicing for the later shielding. mission. of of would allow satellites the of in we longer of radiation to and will do Essentially, -- end of for we satellites to to electronics to to little current exposure. other need a de-orbit refueling that and do a mission enable their Vigoride And our then some robotic the useful version to enclose bit do arm electronics some add some also inside there's life.We
Yu Bank. next comes Deutsche question Your Xin with from
My about first be progress. question will M-XXXX
give credibility? this So you more with this? heritage also, And color could more flight need you gain will flexible on
there bus. based to Vehicle, high is of Orbital say reaction very Well, flight to Vigoride on M-XXXX encouraged positive our the is commonality of very us we're rollout. Vigoride between the a the leverage bus, Service the would getting heritage M-XXXX I which M-XXXX degree the and we vehicles, again, by market X allows we're as the
good commercial carry the used that our the We tracking for the to and the for tracking. from us will used relative Constellation a why Development responding produce has X positively we've in satellites bid in Tranche have to an of in higher to cost. it about ability low because flexible Request telling payload Information was differentiated has we're showing of configuration, be M-XXXX note, interest that a Agency M-XXXX, and XX XX value past with numerous M-XXXX missile received a it. it.Of Potential power, them are met at instance, or are product the the process M-XXXX provider customers the they're layer to.We the feel Space proposition, who is very reacting days, a and a government a the customers to customers able that's both over for larger RFI, we're for We
M-XXXX leverage heritage optimistic of the our and Vigoride about So as we're very progress Orbital flight of it. to we market Vehicle eager the the Service
and think will little before. signed what question future quite than you condition, I be, quite under your with this. that? do second Also, be, But you competition, you think think this what contracts will several about my is the recently a the talked question that already And you seems do And market it growth? well, I faster see helping bit about
do than sensitive has orbit, heritage of are those missions better in for SpaceX deliver payload satellites we've customers the we've other the I Proximity As market with missions, The the made at we has and and in payload like And hosted our of X, XX contracts are deployed start Momentus hosted that XX will customers mentioned on XXXX. customers have they satellites XX Vigoride-X service X And evaluate and payloads earlier to-date. you fly you other customers that -- with we to launch the satellites company these their in delivery the flight on of vehicle operation with other progress on us or the beyond. require for support. gained on XXXX now positioned payload that targeted customers risk orbital Operations X we've flight call, on the booking to of to whether and the next heritage, to the that our to flying demonstration plan of future. example, flights missions orbital October mission, want total for customer for plan which to and with Transporter and marketing actively June later and because a are signed a X also own for Rendezvous hosted course, flight.But demonstration of we're
customer interest X a in in the our see do mentioned we've you signed growth that since August. we capability, So contracts
going keep giving so momentum And been going. that team. exhortation our to we're to that's sales try And to the we've
optimistic for So we're growth. the future about possibilities
There This today's are at no conference further call. time. this questions concludes
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