SIDUS SPACE REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS
Rhea-AI Summary
Sidus Space (NASDAQ: SIDU) reported Q2 2026 revenue of $583,000, down 54% from Q2 2025 due to timing of fixed-price milestone contracts, and a gross loss of $630,000, improved from a $1.0 million loss. SG&A expenses rose 19% to $5.1 million, while adjusted EBITDA loss widened to $5.1 million from $3.9 million. Net loss improved 15% to $4.8 million.
According to Sidus Space, a May 29, 2026 registered direct offering raised approximately $100 million, contributing to cash of $166.5 million and no outstanding term debt at June 30, 2026. The company completed vibration testing of its next LizzieSat, integrated its Fortis VPX Maxima digital mission computing platform, and expects inclusion in the Russell 2000, 3000, and Microcap Indexes. Sidus also highlighted its transition toward commercialization and appointed Alan Khalili as CFO effective July 27, 2026.
Positive
- Net loss improved 15% YoY to $4.8 million in Q2 2026
- Cash balance rose to $166.5 million with no outstanding term debt
- Registered direct offering raised about $100 million at $5.08 per share
- Gross loss narrowed to $0.63 million from $1.0 million year over year
- LizzieSat completed key vibration testing and Fortis VPX Maxima integration
- Expected inclusion in Russell 2000, 3000 and Microcap indexes to expand visibility
Negative
- Revenue declined 54% YoY to $583,000 in Q2 2026
- Adjusted EBITDA loss widened 29% YoY to $5.1 million
- SG&A expenses increased 19% YoY to $5.1 million
- Net cash used in operations was $9.1 million for the first half of 2026
- Net cash used in investing reached $7.3 million for the first half of 2026
News Explained
The closed offering can reduce existing holders’ percentage ownership, while June 30 cash was $166.5 million.
The company reports that its
A registered direct is a negotiated sale of registered securities to selected investors, and a pre-funded warrant converts to shares when exercised.
At
Sources and calculations
- Sidus Space Q2 2026 financial results release (2026-08-14)
- Dilution (undated)
- Pre-funded warrant (undated)
- Registered direct offering (undated)
- Sidus Space Q2 2026 fundamentals (2026Q2)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $166,520,694 / ($3,465,324 / 90) = [object Object]
Market Reaction – SIDU
Following this news, SIDU has declined 4.63%, reflecting a moderate negative market reaction. Argus tracked a trough of -4.9% from its starting point during tracking. Our momentum scanner has triggered 11 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $2.48.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | Q1 earnings report | Positive | +9.6% | Revenue and gross margin improved year over year alongside operational milestones. |
| Apr 01 | FY2025 earnings report | Negative | -9.5% | Revenue declined while cost of revenue and net loss increased year over year. |
| Nov 14 | Q3 earnings report | Negative | -17.1% | Revenue declined and cost of revenue increased, contributing to a wider gross loss. |
| Aug 14 | Q2 earnings report | Neutral | -3.5% | Revenue growth and operational achievements accompanied a wider net loss. |
| May 15 | Q1 earnings report | Negative | -10.5% | Revenue declined and net loss widened despite satellite launch and product developments. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history showed four aligned reactions and one divergence, with a five-event average move of -6.2%.
Key Terms
adjusted ebitda financial
registered direct offering financial
fpga technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Strengthens Balance Sheet, Completes Launch Qualification Milestone, and Advances Transition to Commercialization
The Company will host a conference call and webcast today, Friday, August 14, at 5:00 p.m. Eastern Time.
"The second quarter materially strengthened our foundation," said Carol Craig, Founder, Chief Executive Officer and Chairman of Sidus Space. "We raised capital on terms that provide the runway to execute without compromise, and we advanced our LizzieSat offerings with the addition of Fortis VPX Maxima, our proprietary digital mission computing platform. Its multi-domain, software-defined architecture gives customers a single computing backbone that carries across space, air, land, and sea. Additionally, we believe inclusion in the Russell 2000, Russell 3000, and Russell Microcap Indexes will broaden our institutional visibility. Our focus for the balance of the year is converting this technical and financial foundation into recurring commercial and government revenue."
Operational Highlights for the Quarter Ending June 30, 2026:
- Successfully completed vibration testing on the Company's next LizzieSat spacecraft at Element
U.S . Space & Defense'sOrlando, Florida facility, a key environmental qualification milestone - Integrated the Company's proprietary Fortis VPX digital mission computing platform onto the next LizzieSat spacecraft. Fortis VPX – Maxima pairs a quad-core ARM processor and reconfigurable FPGA with an integrated NVIDIA edge AI/ML engine and an assured positioning, navigation, and timing (A-PNT) suite, enabling on-board AI inference and autonomous decision making at the sensor rather than in ground processing
- Closed a best-efforts registered direct offering on May 29, 2026 of 19,685,039 shares of Class A common stock (or pre-funded warrants in lieu thereof) at
$5.08 $100 million - Announced expected inclusion in the Russell 2000, Russell 3000 and Russell Microcap Indexes in connection with the FTSE Russell annual reconstitution, effective after market close on June 26, 2026, expanding institutional visibility
Subsequent Operational Highlights:
- Issued a Letter to Shareholders on July 21, 2026 from Founder, Chief Executive Officer and Chairman Carol Craig, detailing the Company's transition from technology development to commercialization, its strengthened balance sheet and capital strategy, and its expanding pipeline across defense, intelligence, and commercial markets
- Appointed Alan Khalili as Chief Financial Officer effective July 27, 2026
Financial Highlights for the Second Quarter Ending June 30, 2026:
- Revenue:
$583,000 , a decrease of54% compared to$1.3 million - Cost of Revenue:
$1.2 million 47% decrease compared to$2.3 million - Gross Profit (Loss): Gross loss of
$630,000 39% improvement from a gross loss of$1.0 million - Selling, General and Administrative Expenses (SG&A) Expenses:
$5.1 million , a19% increase compared to$4.3 million - Adjusted EBITDA (Non-GAAP): Loss of
$5.1 million $3.9 million - Net Loss:
$4.8 million , an improvement of$844,000 15% , as compared to Q2 2025 - Cash Position:
$166.5 million as of June 30, 2026, with no outstanding term debt
Conference Call and Webcast
Event: Sidus Space Second Quarter Financial Results Conference Call
Date: Friday, August 14, 2026
Time: 5:00 p.m. Eastern Time
Live Call: + 1-866-652-5200 (
Webcast: https://app.webinar.net/0YRGlyAlgMb
For interested individuals unable to join the conference call, a dial-in replay of the call will be available until Friday, August 21, 2026, at 11:59 P.M. ET and can be accessed by dialing +1-855-669-9658 (
About Sidus Space
Sidus Space®, Inc. (NASDAQ: SIDU) is an innovative space and defense technology company offering flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled 'Risk Factors' in Sidus Space's Annual Report on Form 10-K for the year ended December 31, 2025, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Non-GAAP Measures
To provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures of adjusted EBITDA. We use adjusted EBITDA in order to evaluate our operating performance and make strategic decisions regarding future direction of the company since it provides a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as net income (as determined by
The following table reconciles adjusted EBITDA to net loss (the most comparable GAAP measure) for the three months ended June 30, 2026 and 2025:
Three Months Ended | ||||||||||||||||
June 30, | ||||||||||||||||
2026 | 2025 | Change | % | |||||||||||||
Net Income / (Loss) | $ | (4,781,269) | $ | (5,625,070) | $ | 843,801 | 15 | % | ||||||||
Interest Income/Expense (i) | (910,978) | 334,659 | (1,245,637) | (372) | % | |||||||||||
Depreciation and Amortization (ii) | 607,956 | 1,132,296 | (524,340) | (46) | % | |||||||||||
Capital Raise expense (iii) | - | - | - | - | ||||||||||||
Severance Costs | 26,505 | 27,320 | (815) | (3) | % | |||||||||||
Equity based compensation (iv) | (17,882) | 184,448 | (202,330) | (110) | % | |||||||||||
Total Non-GAAP Adjustments | (294,399) | 1,678,723 | (1,973,122) | (118) | % | |||||||||||
Adjusted EBITDA | (5,075,668) | (3,946,347) | (1,129,321) | (29) | % | |||||||||||
(i) | Sidus Space earned net interest income following the repayment of the asset-based loan in January 2026 and |
(ii) | Sidus Space incurred lower depreciation expense following the satellite impairment write-off in Q4 2025. |
(iii) | Sidus Space did not incur internal fundraising expense related to capital raises. Costs directly attributable to |
(iv) | Sidus Space issued stock-based compensation for employee and Board services rendered. The three-month |
SIDUS SPACE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||||||
June 30, | December 31, | |||||||
2026 | 2025 | |||||||
Assets | ||||||||
Current assets | ||||||||
Cash | $ | 166,520,694 | $ | 43,175,996 | ||||
Accounts receivable | 315,123 | 272,831 | ||||||
Accounts receivable - related parties | 1,202,495 | 1,727,939 | ||||||
Contract asset | 55,606 | 322,773 | ||||||
Contract asset - related party | 441,222 | 209,673 | ||||||
Prepaid and other current assets | 4,281,057 | 4,979,378 | ||||||
Total current assets | 172,816,197 | 50,688,590 | ||||||
Property and equipment, net | 20,299,272 | 14,184,379 | ||||||
Operating lease right-of-use assets | 1,128,354 | 702,856 | ||||||
Intangible asset | 398,135 | 398,135 | ||||||
Other assets | 156,757 | 116,751 | ||||||
Total Assets | $ | 194,798,715 | $ | 66,090,711 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities | ||||||||
Accounts payable and other current liabilities | $ | 4,256,318 | $ | 5,472,464 | ||||
Accounts payable and accrued interest - related party | 123,598 | 876,007 | ||||||
Contract liability | 181,299 | 186,537 | ||||||
Contract liability - related party | 247,114 | - | ||||||
Asset-based loan liability | - | 8,212,186 | ||||||
Operating lease liability | 382,131 | 273,545 | ||||||
Total current liabilities | 5,190,460 | 15,020,739 | ||||||
Operating lease liability - non-current | 766,908 | 434,695 | ||||||
Total Liabilities | 5,957,368 | 15,455,434 | ||||||
Commitments and contingencies | - | - | ||||||
Stockholders' Equity | ||||||||
Preferred Stock: 5,000,000 shares authorized; | ||||||||
Series A convertible preferred stock: 2,000 shares authorized; 0 | - | - | ||||||
Common stock: 210,000,000 authorized; | ||||||||
Class A common stock: 200,000,000 shares authorized; 101,106,203 | 10,111 | 6,532 | ||||||
Class B common stock: 10,000,000 shares authorized; 100,000 shares | 10 | 10 | ||||||
Additional paid-in capital | 288,651,630 | 140,456,263 | ||||||
Accumulated deficit | (99,820,404) | (89,827,528) | ||||||
Total Stockholders' Equity | 188,841,347 | 50,635,277 | ||||||
Total Liabilities and Stockholders' Equity | $ | 194,798,715 | $ | 66,090,711 | ||||
SIDUS SPACE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Revenue | $ | 531,185 | $ | 691,070 | $ | 781,340 | $ | 851,774 | ||||||||
Revenue - related parties | 51,911 | 569,953 | 161,128 | 647,743 | ||||||||||||
Total - revenue | 583,096 | 1,261,023 | 942,468 | 1,499,517 | ||||||||||||
Cost of revenue | 1,212,819 | 2,288,165 | 2,622,264 | 4,155,137 | ||||||||||||
Gross profit (loss) | (629,723) | (1,027,142) | (1,679,796) | (2,655,620) | ||||||||||||
Operating expenses | ||||||||||||||||
Selling, general and administrative | 5,062,524 | 4,263,269 | 9,482,161 | 8,707,711 | ||||||||||||
Total operating expenses | 5,062,524 | 4,263,269 | 9,482,161 | 8,707,711 | ||||||||||||
Net loss from operations | (5,692,247) | (5,290,411) | (11,161,957) | (11,363,331) | ||||||||||||
Other income (expense) | ||||||||||||||||
Other income | 300 | - | 82,146 | 100,000 | ||||||||||||
Interest expense | (879) | (2,546) | (1,758) | (77,953) | ||||||||||||
Interest income | 911,557 | 27,979 | 1,107,170 | 94,324 | ||||||||||||
Asset-based loan expense | - | (360,092) | (18,477) | (792,737) | ||||||||||||
Total other income (expense) | 910,978 | (334,659) | 1,169,081 | (676,366) | ||||||||||||
Loss before income taxes | (4,781,269) | (5,625,070) | (9,992,876) | (12,039,697) | ||||||||||||
Provision for income taxes | - | - | - | - | ||||||||||||
Net loss | (4,781,269) | (5,625,070) | (9,992,876) | (12,039,697) | ||||||||||||
Basic and diluted loss per common share | $ | (0.06) | $ | (0.31) | $ | (0.13) | $ | (0.66) | ||||||||
Basic and diluted weighted average | 85,267,410 | 18,320,025 | 75,947,534 | 18,274,485 | ||||||||||||
SIDUS SPACE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2026 | 2025 | |||||||
Cash Flows From Operating Activities: | ||||||||
Net loss | $ | (9,992,876) | $ | (12,039,697) | ||||
Adjustments to reconcile net loss to net cash used in operating | ||||||||
Stock based compensation | 197,245 | 436,692 | ||||||
Depreciation and amortization | 1,219,562 | 2,066,969 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | (42,292) | (45,671) | ||||||
Accounts receivable - related party | 525,444 | (396,230) | ||||||
Inventory | - | (114,351) | ||||||
Contract asset | 267,167 | 353,882 | ||||||
Contract asset - related party | (231,549) | (60,060) | ||||||
Prepaid expenses and other assets | 658,315 | (729,556) | ||||||
Accounts payable and accrued liabilities | (1,216,146) | 2,537,168 | ||||||
Accounts payable and accrued liabilities - related party | (752,409) | 100,857 | ||||||
Contract liability | (5,238) | (16,192) | ||||||
Contract liability - related party | 247,114 | 60,060 | ||||||
Changes in operating lease assets and liabilities | 15,301 | 770 | ||||||
Net Cash used in Operating Activities | (9,110,362) | (7,845,359) | ||||||
Cash Flows From Investing Activities: | ||||||||
Purchases for fixed assets and satellite construction | (7,334,455) | (4,354,130) | ||||||
Net Cash used in Investing Activities | (7,334,455) | (4,354,130) | ||||||
Cash Flows From Financing Activities: | ||||||||
Proceeds from issuance of common stock units | 146,215,182 | - | ||||||
Proceeds from exercise of warrants | 1,786,519 | 2,381,247 | ||||||
Proceeds from asset-based loan agreement | - | 4,413,239 | ||||||
Repayment of asset-based loan agreement | (8,212,186) | (3,604,116) | ||||||
Repayment of notes payable | - | (3,059,767) | ||||||
Net Cash provided by Financing Activities | 139,789,515 | 130,603 | ||||||
Net change in cash | 123,344,698 | (12,068,886) | ||||||
Cash, beginning of period | 43,175,996 | 15,703,579 | ||||||
Cash, end of period | $ | 166,520,694 | $ | 3,634,693 | ||||
Supplemental cash flow information | ||||||||
Cash paid for interest | $ | 20,235 | $ | 630,874 | ||||
Cash paid for taxes | $ | - | $ | - | ||||
Non-cash Investing and Financing transactions: | ||||||||
Class A common stock issued for cashless exercise of warrants | $ | 33 | $ | - | ||||
Conversion of interest and fees of asset based loan | $ | - | $ | 169,870 | ||||
Recognition of right-of-use asset and lease liability | $ | 578,769 | $ | 856,787 | ||||
Contacts:
Investor Relations
investor-relations@sidusspace.com
Media Inquiries
press@sidusspace.com
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SOURCE Sidus Space, Inc.