CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, today announced financial and corporate results for its fourth quarter and year ended December 31, 2021.
Fourth Quarter 2021 Financial Highlights:
- Revenue increased to $523,419 for the three-month period ended December 31, 2021, from $268,507 during the same period in 2020, an increase of 95%
- Loss from operations increased to $1,620,017 for the three-month period ended December 31, 2021 versus $363,472 in the comparable period of 2020.
- Net loss was $2,426,490 for the three-month period ended December 31, 2021 compared to a net loss of $364,575 during the same period in 2020. The loss was primarily a result of expansion of staff and costs associated with the Company’s initial public offering in December of 2021.