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.

HOUSTON (KBR Inc. PR) — KBR (NYSE: KBR) is pleased to announce it is a major partner to Axiom Space, which NASA selected as one of two companies eligible to support the development of NASA’s next-generation spacesuit and spacewalk systems through the Exploration Extravehicular Activity Services (xEVAS) contract. This comprehensive contract includes a full range of services, including design, testing, and verification of manufacturing and processing of the new spacesuits. KBR will co-locate with Axiom Space in their facilities.

The xEVAS contract, which advances extravehicular activity capability for low-Earth orbit, on the lunar surface, and future human missions to Mars, is managed out of NASA’s Johnson Space Center (JSC) through the Extravehicular Activity (EVA) and Human Surface Mobility Program. The milestone-based contract’s period of performance continues through 2034 with a potential total value of $3.5 billion across the life of the program.

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.

HOUSTON (Oceaneering International PR) — Oceaneering International (“Oceaneering”) (NYSE:OII) announces that Oceaneering Space Systems (“OSS”), a division of the Aerospace and Defense Technologies segment, will serve on a team led by Collins Aerospace (“Collins”), a Raytheon Technologies business selected by the National Aeronautics and Space Administration (“NASA”) to develop next-generation extravehicular spacesuits.

HOUSTON (NASA PR) — NASA has selected Axiom Space and Collins Aerospace to advance spacewalking capabilities in low-Earth orbit and at the Moon, by buying services that provide astronauts with next generation spacesuit and spacewalk systems to work outside the International Space Station, explore the lunar surface on Artemis missions, and prepare for human missions to Mars.