LA PLATA, Maryland — Satellite last-mile-delivery startup Momentus Inc. said it is cutting operating costs and slowing work on a reusable version of its Vigoride payload-carrying vehicle to stretch its current cash to last through 2023.
Momentus had $109 million in non-restricted cash as of June 30 and had spent $49 million in the six previous months. At that rate it would have burned through its current liquidity well before the end of 2023.
In an Aug. 11 investor call, Momentus Chief Executive John . . .
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