Sidus Space Inc Stock Price, News & Analysis

Sidus Space (NASDAQ: SIDU) has been awarded a $2 million contract by Craig Technologies to manufacture two Fleet Interactive Display Equipment (FIDE) Pre-production Unit Main panels for Bechtel Plant Machinery, Inc. (BPMI) in support of a U.S. Navy propulsion program. This marks the third time Sidus Space has been selected as a subcontractor for this customer. The company is currently manufacturing thirteen Propulsion Plant Trainers and had previously manufactured a related U.S. Navy trainer system. Sidus Space will leverage its facilities and team to manufacture, assemble, test, and deliver the FIDE panel trainers. The project involves precision manufacturing and rigorous testing processes to meet high quality and reliability standards for the defense sector.

Sidus Space (NASDAQ: SIDU) reported Q2 2024 financial results and provided a business update. Key highlights include:

- Successful commissioning of first LizzieSat™ (LS-1) launched in March 2024

- Total revenue of $930,000, down from $1.37 million in Q2 2023

- Net loss of $4.1 million, compared to $3.5 million in Q2 2023

- Gross profit margin decreased to -91% from 37% in Q2 2023

- SG&A expenses decreased to $3.1 million from $3.6 million in Q2 2023

- Adjusted EBITDA loss of $3.2 million, compared to $2.8 million in Q2 2023

The company cited timing of fixed price manufacturing milestones and delays in satellite contract payments as reasons for the revenue decrease, expecting recovery in H2 2024. Sidus Space is preparing for the launches of LizzieSat™ 2 and 3 with SpaceX.

Sidus Space (NASDAQ: SIDU), a provider of end-to-end precision Space Infrastructure solutions, has announced its upcoming second quarter 2024 financial results conference call. The call is scheduled for Monday, August 19, 2024, at 5:00 p.m. Eastern Time. Interested parties can join the live call via U.S. Toll-Free at +1-877-269-7751 or International at +1-201-389-0908. A webcast will also be available.

For those unable to attend the live call, a dial-in replay will be accessible until September 2, 2024, at 11:59 P.M. ET. The replay can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) with the replay pin number: 13748500. An online archive of the webcast will remain available for three months on the Sidus Space investor relations website.

Sidus Space (NASDAQ: SIDU) has secured a contract with Xiomas Technologies to supply its FeatherEdge onboard computing system for a groundbreaking fire detection project. This collaborative effort, involving NASA and Harvard University, aims to demonstrate rapid fire detection capabilities using a stratospheric balloon platform.

The FeatherEdge system will process high-resolution thermal images from Xiomas' advanced infrared sensor, performing critical edge computing tasks to compress raw data into actionable analytics. It will generate essential data on the location, size, and intensity of heat signatures for near real-time transmission to ground stations.

Scheduled for launch in October 2024, this project showcases Sidus Space's commitment to leveraging space-based technologies for critical Earth applications and positions the company for future opportunities in governmental and commercial sectors.

Sidus Space (NASDAQ: SIDU) founder and CEO Carol Craig has been named to Forbes' 50 Over 50 list, recognizing women who have achieved significant success after age 50. Craig, a trailblazer in aerospace and defense, founded Craig Technologies in 1999 and later established Sidus Space, a pioneer in satellite manufacturing and space-based solutions.

Under Craig's leadership, both companies have experienced significant growth, supporting government and commercial customers with innovative solutions. Her inclusion on the Forbes list highlights her exceptional accomplishments and serves as an inspiration for those making a difference at any career stage.

Sidus Space (NASDAQ: SIDU) has developed an advanced high-speed switch card using Frontgrade's protocol-independent Crosspoint Switch. This multi-payload switch card is integrated into LizzieSat™-2 (LS-2) and offered as a standalone product for the Small Satellite Supply Chain. The Sidus Low Voltage Differential Signaling (LVDS) Switch Card extends payload processor capabilities, enabling communication with multiple optical sensors through high-speed LVDS data connections.

Key features include:

• Enhanced redundancy and fault tolerance
• Compatibility with Space VPX VITA 78 standard
• 3.125Gbps data rate
• Integration of in-house 3D printing technology

Sidus Space plans to leverage its business operations and marketing resources to bring this technology to market, with full-rate production anticipated in 2025.

Sidus Space (NASDAQ: SIDU), a provider of end-to-end precision Space Infrastructure solutions, is attending the Small Satellite 2024 conference at Utah State University from August 5th to 8th. CEO Carol Craig highlighted the event's importance for networking and discussing the successful launch of LizzieSat™-1 and the upcoming LizzieSat™-2 launch.

The conference is internationally recognized as the premier event for small satellites, offering a platform for industry leaders to review successes, explore new directions, and introduce emerging technologies. It provides networking opportunities with experts in military, science, and academic fields, focusing on key challenges and opportunities in the small satellite community.

Sidus Space (NASDAQ: SIDU), a provider of precision Space Infrastructure solutions, has appointed Jeffrey Shuman, former Chief Human Resources Officer at L3Harris, as an independent Director effective July 8, 2024. CEO Carol Craig and Chairman Leo Riera highlighted Shuman's extensive experience and network within the Space Coast community as valuable assets for Sidus's growth. Shuman has a 40-year career with roles in the US Army, Avon Products, Honeywell International, Northrop Grumman, L3Harris, and Quest Diagnostics. He has served on various advisory boards and earned accolades like the Stevie Award for Best Human Resources Executive.

Sidus Space (NASDAQ: SIDU) announced that, in collaboration with NASA Stennis Space Center, it has successfully met the primary objectives of the ASTRA payload mission on July 1, 2024.

This mission marks a significant milestone for NASA Stennis and its autonomous systems team. The ASTRA payload, designed as a technology demonstrator, was tested on Sidus Space's LizzieSat™-1 (LS-1) satellite.

Sidus Space handled all mission operations, including launch and satellite activation, enabling the NASA team to achieve its primary mission goals. The mission now focuses on data collection, on-orbit capabilities, and automated flight following for ASTRA.

The collaboration underscores Sidus Space's commitment to advancing space technology and innovation.