Space-as-a-service satellite manufacturer Sidus Space saw its revenue increase from $1.4 million in 2021 to $7.3 million in 2022.

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, recently signed a memorandum of understanding with Exo-Space to further commercialize its satellite edge computing technology.

With this partnership, Sidus Space will integrate Exo-Space’s FeatherEdge Data Processing Platform into its hybrid 3D printed satellite, LizzieSat™. Through collaboration on data processing and storage technology in space, on-orbit testing of the device in a space environment will provide proof-of-concept data, increase the product’s overall Technology Readiness Level, and establish integration processes for future collaborative missions.

Revenue Increased 695% in Second Quarter 2022 from Second Quarter 2021

CAPE CANAVERAL, Fla.–(Sidus Space PR)– Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, today announced financial results for the second quarter ended June 30, 2022 and provided company business updates.

Q2 2022 Financial Highlights

• Revenue increased to $1.85 million for the three months ended June 30, 2022 from $232,000 in the comparable period of 2021, an increase of 695%.
  • This increase is primarily attributed to increased customer confidence as a result of previous deliveries and increased contract flow driven by sales efforts from an expanded sales team.
• Gross Profit increased to $347,000 for the three months ended June 30, 2022 from a loss of $56,000 in the comparable period of 2021, attributable to an increase in revenue, a decrease in labor intensive contracts and an increase in our higher margin Satellite-as-a-Service business line.
• Operating Expenses increased to $2.7 million for the three months ended June 30, 2022 compared to $418,000 for the three months ended June 30, 2021, resulting from expansion of our staff and facilities, as well as increased insurance, investor relations, legal and accounting fees that are associated with being a publicly traded company.
• During the quarter, the Company’s principal shareholder forgave approximately $1.624 million of debt, consisting of the entire unpaid principal amount and accrued interest owed by the Company to the shareholder.

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, is proud to announce that it has completed the fabrication of the first set of hardware in support of NASA’s Artemis Program and their Space Launch System (SLS) Manned Vehicle.

CAPE CANAVERAL, Fla. (Sidus Space, Inc. PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, is pleased to announce its growing relationship with Teledyne Marine, a part of Teledyne Technologies, Inc. (NYSE:TDY), following a noteworthy Q2 2022. The three-month period marks the strongest revenue quarter between the parties since their partnership began four years ago.

CAPE CANAVERAL, Fla. (Sinus Space, Inc. PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support is proud to announce that it is part of the Collins Aerospace team which was awarded NASA’s Exploration Extravehicular Activity (xEVAS) services contract.

Revenue Increased 1075% in First Quarter 2022 from First Quarter 2021

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, today announced recent company highlights and financial results for the first quarter ended March 31, 2022.

Q1 2022 Financial Highlights:

• Revenue increased to $1,799,335 for the three months ended March 31, 2022 from $153,136 in the comparable period of 2021, an increase of 1075%. This was driven by growth in number of customers and significant growth in the size of contracts.
• Gross Profit increased to $978,337 for the three months ended March 31, 2022 from a loss of $134,540 in the comparable period of 2021. This was primarily attributable to the increase in revenue and decrease in labor intensive contracts and an increase in our higher margin Satellite-as-a-Service business line.
• Operating Expenses increased to $3,242,783 for the three months ended March 31, 2022 compared to $385,174 for the three months ended March 31, 2021. This was primarily the result of the expansion of staff, the leasing of more space for expansion and a one-time non-cash expense of $1.2M.
• As of March 31, 2022, the Company had $10.4 million in cash.

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, today announced financial and corporate results for its fourth quarter and year ended December 31, 2021.

Fourth Quarter 2021 Financial Highlights:

• Revenue increased to $523,419 for the three-month period ended December 31, 2021, from $268,507 during the same period in 2020, an increase of 95%
• Loss from operations increased to $1,620,017 for the three-month period ended December 31, 2021 versus $363,472 in the comparable period of 2020.
• Net loss was $2,426,490 for the three-month period ended December 31, 2021 compared to a net loss of $364,575 during the same period in 2020. The loss was primarily a result of expansion of staff and costs associated with the Company’s initial public offering in December of 2021.

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ: SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, is pleased to announce a strategic partnership with Red Canyon Software, Inc. (Red Canyon) to support LizzieSat™ Constellation of 100 Satellites.

Through this partnership, Red Canyon will support the design, development, assembly, integration, deployment and sustainment of LizzieSat constellation, with its software solutions.

LizzieSats (LS) are 3D manufactured Low Earth Orbit (LEO) microsatellites focused on rapid, cost-effective development and testing of upcoming innovative spacecraft technologies for multiple customers. LS is a 100kg (220-pound) satellite with space to rapidly integrate customer sensors and technologies.

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection is pleased to announce composition of the Board of Directors, recently formed with Sidus’ initial public offering, which closed on December 14, 2021.

Sidus Space’s five-member Board includes three independent directors and is composed of the following: