Stockholders’ Equity and Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Common Stock Outstanding

The following summarizes the Company’s common stock outstanding immediately after the Business Combination:

	Shares	%
Momentus Space, LLC unit holders	50,419,505	63	%
Public stockholders	13,695,257	17	%
SRAC and its affiliates	4,657,500	6	%
PIPE investors	11,000,000	14	%
Total	79,772,262	100	%

Schedule of Options Activity

The following table sets forth the summary of options and RSA activity for the nine months ended September 30, 2021. RSAs were an immaterial portion of activity for the period:

(in thousands, except per share data)	Total Options	Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2020	7,422,996	$	0.20	8.49	$	130,564
Vested exercised	(1,297,711)				$	15,263
Forfeitures	(1,820,625)
Outstanding as of September 30, 2021	4,304,660	$	0.27	7.64	$	44,275
Exercisable as of September 30, 2021	2,662,485	$	0.26	7.28	$	27,526
Vested and expected to vest as of September 30, 2021	4,304,660	$	0.27	7.64	$	44,275

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense related to options issued under the Plans was recorded as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2021		2020		2021		2020
Research and development expenses	$	52	$	34	$	186	$	109
Selling, general and administrative expenses	3,023		1,339		11,001		1,533
	$	3,075	$	1,374	$	11,187	$	1,642

Schedule of Fair Value Inputs

The assumptions used under the Black-Scholes-Merton option-pricing model and weighted average fair value of options on the grant date are as follows:

	Nine Months Ended September 30,
	2021	2020
Expected term (in years)	N/A	5.03 – 6.23
Risk-free interest rate	N/A	0.27% – 1.36%
Expected volatility	N/A	33.89% – 51.78%
Dividend yield	N/A	0.00%
Fair value on grant date	N/A	$0.32 – $4.70

Schedule of Income (Loss) per Share

The following table sets forth the computation of basic and diluted net income (loss) per share:

Basic and Diluted Net Income (Loss) Per Share	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net income (loss)	$	(5,614)	$	(110,923)	$	123,384	$	(126,329)
Denominator:
Denominator for basic net income (loss) per share -weighted average shares outstanding	60,589,566		62,722,340		59,873,199		64,244,006
Dilutive options and unvested stock units outstanding	—		—		4,056,805		—
Dilutive warrants outstanding	—		—		302,533		—
Denominator for diluted net income (loss) per share - adjusted weighted average shares outstanding	60,589,566		62,722,340		64,232,537		64,244,006
Net income (loss) per share - diluted	$	(0.09)	$	(1.77)	$	1.92	$	(1.97)