Business
Sidus Space Reports Second Quarter 2024 Financial Results and Provides Business Update
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a provider of end-to-end precision Space Infrastructure
About this update from Sidus Space, Inc.
[{"type":"text","content":" CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--\nSidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a provider of end-to-end precision Space Infrastructure solutions that include satellite Data-as-a-Service on its proprietary on-orbit platform, announced its financial results for the second quarter ended June 30, 2024 and provided a business update. The Company is scheduled to host a conference call and webcast today, Monday, August 19th, at 5:00 p.m. ET.\n\n\n“During the second quarter of 2024, we achieved a major milestone with the successful commissioning of our first LizzieSat™ (LS-1) which was launched on the SpaceX Transporter-10 Rideshare Mission in March. Following this critical phase, we began activating payloads and accomplished the primary objectives of several LS-1 missions. As the first commercial satellite designed, manufactured and operated entirely by Sidus, LS-1 has demonstrated our vertical integration capabilities and our experience in deploying and operating our satellite equipped with multiple technologies that serve a diverse range of applications and customers,” said Carol Craig, Founder and CEO of Sidus Space. “This accomplishment marks a significant step forward in our strategy to establish Sidus as a leader in the Space ecosystem. Our Space-based Data-as-a-Service business model, enabled by the LizzieSat™ constellation, is primed to scale rapidly, driving high-margin revenue as we prepare for the launches of LizzieSat™ 2 and 3 with SpaceX,” Ms. Craig concluded.\n\n\nOperational Highlights for the Quarter Ending June 30, 2024:\n\n\n\nConstellation Development: LizzieSat™ 2 and 3 are in the advanced stages of production and manifested for launch\n\n\n\nNew Service Offering: Spacecraft Mission Control Center for commercial customers\n\n\n\nHEO Agreement: Secured a second agreement with HEO for Non-Earth Imaging Payload and Data services\n\n\n\nPartnership Expansion: Partnered with Orbital Transports to expand market reach\n\n\n\nBechtel Delivery: Completed purchase order and delivers cabinets for Bechtel’s NASA Mobile Launcher 2 (ML2) project, continuing production for additional cabinets\n\n\n\nNASA moon RACER team: Awarded a subcontract on the $30M Intuitive Machines-led Moon RACER team for the NASA Lunar Terrain Vehicle Services (LTVS) contract in support the Agency’s Artemis Campaign\n\n\n\nLizzieSat™ –1 ...