Sidus Space (NASDAQ: SIDU) triples assets, repays loan but grows Q2 EBITDA loss
Rhea-AI Filing Summary
Sidus Space, Inc. reported second quarter 2026 results showing a much stronger balance sheet but continued operating losses. Cash rose to $166.5 million at June 30, 2026 from $43.2 million at year-end 2025, driven mainly by $146.2 million of common stock unit issuance and $1.8 million of warrant exercises. The asset-based loan liability of $8.2 million at December 31, 2025 was fully repaid, and total liabilities fell to $6.0 million, while stockholders’ equity increased to $188.8 million.
Operations remain loss-making. Total revenue for the quarter was $583,096, down from $1.26 million a year earlier, with a negative gross profit of $0.63 million. Selling, general and administrative expenses were $5.1 million, leading to a net loss of $4.8 million, improved from a $5.6 million loss in 2025. Adjusted EBITDA was a loss of $5.1 million versus a $3.9 million loss in the prior-year quarter. Net interest income turned positive following repayment of the asset-based loan and higher cash balances from April and May 2026 offerings.
Positive
- Cash and liquidity strengthened significantly, with cash increasing to $166.5 million at June 30, 2026 from $3.6 million a year earlier and $43.2 million at year-end 2025, supported by $146.2 million of equity issuance and warrant exercises.
- Debt load reduced, as the $8.2 million asset-based loan liability outstanding at December 31, 2025 was fully repaid, contributing to a decline in total liabilities to $6.0 million and stockholders’ equity rising to $188.8 million.
Negative
- Revenue declined materially, with second quarter 2026 total revenue of $583,096 versus $1.26 million in the prior-year quarter, and gross profit remained negative at $(629,723).
- Operating and EBITDA losses remain substantial: Q2 2026 net loss was $(4.8 million) and adjusted EBITDA loss widened to $(5.1 million) from $(3.9 million) a year earlier, indicating higher operating cash burn.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q2 2026 Total Revenue: $583,096
Q2 2026 Net Loss: $(4,781,269)
Q2 2026 Adjusted EBITDA: $(5,075,668)
+5 more
8 metrics
Q2 2026 Total Revenue
$583,096
Three months ended June 30, 2026 total revenue including related parties
Q2 2026 Net Loss
$(4,781,269)
Net loss for the three months ended June 30, 2026
Q2 2026 Adjusted EBITDA
$(5,075,668)
Adjusted EBITDA for the three months ended June 30, 2026
Cash Balance
$166,520,694
Cash as of June 30, 2026 on the condensed consolidated balance sheet
Equity Issuance Proceeds
$146,215,182
Proceeds from issuance of common stock units in first half 2026
Asset-Based Loan Liability
$0
Asset-based loan liability at June 30, 2026 versus $8,212,186 at December 31, 2025
Total Assets
$194,798,715
Total assets as of June 30, 2026
Total Stockholders’ Equity
$188,841,347
Stockholders’ equity as of June 30, 2026
Key Terms
adjusted EBITDA, asset-based loan, contract asset, right-of-use asset, +1 more
5 terms
adjusted EBITDA financial
"We define adjusted EBITDA as net income ... adjusted for interest expense, depreciation"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
asset-based loan financial
"Sidus Space earned net interest income following the repayment of the asset-based loan in January 2026"
A loan secured by a company's tangible assets—such as inventory, accounts receivable, equipment or real estate—that the lender can take or sell if the borrower can't repay. Think of it like pawning a valuable item to get cash: it gives a business faster access to funds while reducing risk for the lender, and investors watch these loans because they affect a company's liquidity, borrowing cost, and how easily creditors can recover money in trouble.
contract asset financial
"Contract asset - related party | 441,222 | | | | 209,673"
A contract asset is a company's right to receive payment for goods or services it has delivered but has not yet billed the customer, recorded when the work is done before formal invoicing. It matters to investors because it shows revenue that’s been earned but not yet converted to cash or an invoice, revealing how quickly the business turns work into billable claims and the quality and timing of its reported revenue; like a completed job waiting for the official bill.
right-of-use asset financial
"Operating lease right-of-use assets | 1,128,354 | | | | 702,856"
A right-of-use asset is the value a company records on its balance sheet for the practical use of something it leases — like the benefit of living in a rented office or using leased equipment for a set period. Investors care because it turns many leases into on-balance-sheet assets and matching liabilities, which can change reported leverage, asset base and performance metrics much like taking on a loan would.
additional paid-in capital financial
"Additional paid-in capital | 288,651,630 | | | | 140,456,263"
Amount of money shareholders have paid to a company for shares that is above the stock’s nominal or par value; think of it as the extra premium paid when a group buys a ticket that has a low listed price. It matters to investors because it represents permanent capital on the balance sheet that can cushion losses, affect book value per share and indicate how much fresh cash equity holders have contributed beyond the minimum share value.
Earnings Snapshot
Total revenue (Q2 2026): $583,096
Three and six months ended June 30, 2026
Total revenue (Q2 2026)
$583,096
Lower than the $1,261,023 reported in Q2 2025
Net loss (Q2 2026)
$(4,781,269)
Improved versus $(5,625,070) in Q2 2025
Adjusted EBITDA (Q2 2026)
$(5,075,668)
Worse than $(3,946,347) in Q2 2025
Cash (June 30, 2026)
$166,520,694
Increased from $43,175,996 at December 31, 2025
FAQ
How did Sidus Space (SIDU) perform financially in Q2 2026?
Sidus Space reported a Q2 2026 net loss of $(4.8 million) on total revenue of $583,096, compared with a $(5.6 million) net loss on $1.26 million of revenue in Q2 2025, reflecting lower sales but a slightly smaller loss.
What is Sidus Space’s (SIDU) cash position as of June 30, 2026?
As of June 30, 2026, Sidus Space held $166.5 million in cash, up from $43.2 million at December 31, 2025, primarily due to $146.2 million raised from common stock units and additional proceeds from warrant exercises.
How did Sidus Space (SIDU) fund its operations in the first half of 2026?
Sidus Space used $9.1 million of cash in operating activities and $7.3 million for capital investments in the first half of 2026, financed largely by $139.8 million of net cash provided by financing activities, mainly equity issuance and warrant exercises.
What were Sidus Space’s (SIDU) adjusted EBITDA results for Q2 2026?
Adjusted EBITDA for Q2 2026 was a loss of $(5.1 million), compared with a $(3.9 million) loss in Q2 2025. The metric adjusts net loss for interest, depreciation and amortization, capital raise expense, severance, equity-based compensation and impairment loss.
Did Sidus Space (SIDU) reduce its debt during 2026?
Yes. Sidus Space fully repaid its $8.2 million asset-based loan during 2026. The asset-based loan liability, which was $8.2 million at December 31, 2025, was reduced to zero by June 30, 2026, lowering overall liabilities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
