/sci/ - Science & Math

>>15670803
oh that article was from may, lol

https://spacenews.com/momentus-cuts-workforce-while-evaluating-strategic-options/

> In an Aug. 14 earnings call about its second quarter financial results, Eric Williams, chief financial officer of Momentus, said that the company reduced its headcount, including both full-time employees and contractors, by 30% late in the second quarter. The move, he said, was designed to “substantially reduce our burn rate while retaining the talent we need to execute our key near-term initiatives.”

> Momentus reported a record quarterly revenue of $1.7 million in the second quarter, the first time it reported revenues of more than $1 million in a quarter. However, the company reported a net loss of $18.8 million and ended the quarter with $21.6 million of cash and equivalents on hand.

> “It is clear that we’ve faced some headwinds in the recent risk-off environment in the market, and seen our stock price reflect that,” Rood said. The company’s shares have traded below $1 for six months, and the company is seeking shareholder approval later this month for a reverse split of between 1-for-30 and 1-for-50 to boost the stock price and avoid delisting from Nasdaq. The company’s shares closed at $0.31 Aug. 15.

still about a quarter of burn left, thats pretty bad though
3 months