Business
SIDUS SPACE REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS WITH Q1 YEAR OVER YEAR IMPROVEMENT IN REVENUE AND GROSS MARGIN
Demonstrates On-Orbit Execution, Improves Financial Performance, and Advances Flight Ready Technology PortfolioCAPE CANAVERAL, Fla., May 14, 2026 /PRNewswire/
About this update from Sidus Space, Inc.
Demonstrates On-Orbit Execution, Improves Financial Performance, and Advances Flight Ready Technology PortfolioCAPE CANAVERAL, Fla., May 14, 2026 /PRNewswire/ -- Sidus Space, Inc. (NASDAQ: SIDU), (the "Company" or "Sidus"), an innovative space and defense technology company, today announced its financial results for the first quarter ended March 31, 2026, and provided a business update highlighting continued on-orbit execution, progress across customer payloads and disciplined financial management. The Company will host a conference call and webcast today, Thursday, May 14, at 5:00 p.m. Eastern Time."During the first quarter, we continued to execute our technical roadmap while maintaining disciplined cost control," said Carol Craig, Founder and Chief Executive Officer of Sidus Space. "We delivered high-resolution imagery from LizzieSat-3, advanced customer payload commissioning, and finalized flight ready configurations for next generation systems planned for LizzieSat-4 and LizzieSat-5. These milestones strengthen our on-orbit heritage and position Sidus to support future missions while remaining focused on responsible capital allocation and operational execution."Operational Highlights for the Quarter Ending March 31, 2026:Delivered initial imagery from HEO USA's non-Earth imaging camera aboard LizzieSat-3, including sub 5-meter resolution imagery, as part of ongoing payload commissioning and an important step along the path toward initiating subscription-based data service delivery following completion of commissioningExpanded agreement with Lonestar Data Holdings to build an additional StarVault orbital data storage payloadAchieved integration milestone with Maris-Tech Ltd. (NASDAQ: MTEK) on its AI-based edge computing payload, scheduled to launch aboard LizzieSat -4Signed a Memorandum of Understanding (MOU) with Simera Sense to advance AI-enabled hyperspectral imaging capabilitiesFinalized the Fortis VPX Command and Data Handling platform for integration on to LizzieSat-4 and LizzieSat-5, establishing on-orbit heritage for the Company's next generation spacecraft computing architectureAppointed Kelle Wendling, a senior aerospace and defense executive, to the Board of DirectorsSubsequent Operational Highlights:Completed best-efforts registered direct offering on April 21, 2026, generating gross proceeds of $58.5 million, further strengthening the Comp...