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SIDUS SPACE REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS
SIDUS SPACE REPORTS SECOND QUARTER 2026 FINANCIAL
About this update from Sidus Space, Inc.
CAPE CANAVERAL - Sidus Space, Inc. (NASDAQ: SIDU ), (the 'Company' or 'Sidus'), an innovative space and defense technology company, today announced its financial results for the second quarter ended June 30, 2026 , and provided a business update highlighting a strengthened capital position, completion of a key launch qualification milestone, and continued advancement of its proprietary technology portfolio. 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's Orlando, 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 per share, generating gross proceeds of approximately $100 million before placement agent fees and offering expenses 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 of 54% compared to $1.3 million in Q2 2025, driven by the timing of fixed-price milestone contracts Cost of Revenue: $1.2 million , a 47% decrease compared to $2.3 million in Q2 2025, reflecting lower contract activity and lower satellite and software depreciation Gross Profit (Loss): Gross loss of $630,000 , a 39% improvement from a gross loss of $1.0 million in Q2 2025 Selling, General and Administrative Expenses (SG&A) Expenses: $5.1 million , a 19% increase compared to $4.3 million in Q2 2025 Adjusted EBITDA (Non-GAAP): Loss of $5.1 million , as compared to a $3.9 million loss in Q2 2025 Net Loss: $4.8 million , an improvement of $844,000 , or 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 ( U.S . Toll-Free) or +1-412-317-6060 (International) 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 ( U.S . Toll-Free) or +1-412-317-0088 (International) and entering replay pin number: 7822886. An online archive of the webcast will be available for one year following the event at https://investors.sidusspace.com/ . 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 Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. 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 U.S. GAAP) adjusted for interest expense, depreciation and amortization expense, capital raise expense, severance costs, equity-based compensation and impairment loss. These non-GAAP measures may be different from non-GAAP measures made by other companies since not all companies will use the same measures. Therefore, these non-GAAP measures should not be considered in isolation or as a substitute for relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. Contacts: Email: [email protected] (C) 2026 Electronic News Publishing, source ENP Newswire