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Sidus Space, Inc. Reports Q1 2023 Financial Results
Sidus Space Satellite Related Revenue for Q1 2023 Increases Over 100% from Q1 2022 CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (NASDAQ:SIDU), a
About this update from Sidus Space, Inc.
[{"type":"text","content":"\nSidus Space Satellite Related Revenue for Q1 2023 Increases Over 100% from Q1 2022\n\n\n CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--\nSidus Space, Inc. (NASDAQ:SIDU), a Space and Defense-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, today announced financial results for the first quarter ending March 31, 2023 and provided a business update. Sidus will webcast a conference call to discuss the results on May 15, 2023 at 9:00 am Eastern Time. Participants can join the webcast by visiting this link or visiting the IR calendar on the Investors Relations site at https://investors.sidusspace.com. A replay of the call will be available on the site for three months.\n\n\n“We are excited about the future of our company,” said Teresa Burchfield, Chief Financial Officer of Sidus Space. “Several successful initiatives position us well for long-term success. The capital raised recently allows us to secure multiple launches that rapidly expand our satellite constellation which is expected to drive revenue growth. We also purchased long lead time flight hardware that we believe will accelerate our satellite production rate to meet mission demands.”\n\n\n\"We have laid a strong foundation for the rest of the year, and remain on track to launch LizzieSat™, our hybrid 3D printed satellite, later this year. While the precise timeline is dependent on the small satellite launch industry, we have completed critical milestones including successful integrated testing of our onboard command and control system which drives the satellite on-orbit. Our confidence in our ability to execute our vision is based on over a decade of commercial, defense and government manufacturing experience combined with a proven track record of success, space qualification experience, existing customers and pipeline, and heritage hardware. With over 10 years of manufacturing experience and capabilities we are uniquely positioned to go beyond LEO and to support missions to MEO, GEO, the Moon, Mars and beyond. We continue to advance active discussions with numerous prospective customers, including U.S. and international government agencies, for payload hosting and data related to our planned satellite launches over the next 24 months,\" said Carol Craig, Founder and CEO of Sidus Space.\n\n\nFinancial Highlights for...