Sidus Space Signs MOU with Exo-Space to Support Edge Computing Technology

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, recently signed a memorandum of understanding with Exo-Space to further commercialize its satellite edge computing technology.

With this partnership, Sidus Space will integrate Exo-Space’s FeatherEdge Data Processing Platform into its hybrid 3D printed satellite, LizzieSat™. Through collaboration on data processing and storage technology in space, on-orbit testing of the device in a space environment will provide proof-of-concept data, increase the product’s overall Technology Readiness Level, and establish integration processes for future collaborative missions.

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Sidus Space Reports Second Quarter 2022 Results and Business Update

Revenue Increased 695% in Second Quarter 2022 from Second Quarter 2021

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 results for the second quarter ended June 30, 2022 and provided company business updates.

Q2 2022 Financial Highlights

  • Revenue increased to $1.85 million for the three months ended June 30, 2022 from $232,000 in the comparable period of 2021, an increase of 695%.
    • This increase is primarily attributed to increased customer confidence as a result of previous deliveries and increased contract flow driven by sales efforts from an expanded sales team.
  • Gross Profit increased to $347,000 for the three months ended June 30, 2022 from a loss of $56,000 in the comparable period of 2021, attributable to an increase in revenue, a decrease in labor intensive contracts and an increase in our higher margin Satellite-as-a-Service business line.
  • Operating Expenses increased to $2.7 million for the three months ended June 30, 2022 compared to $418,000 for the three months ended June 30, 2021, resulting from expansion of our staff and facilities, as well as increased insurance, investor relations, legal and accounting fees that are associated with being a publicly traded company.
  • During the quarter, the Company’s principal shareholder forgave approximately $1.624 million of debt, consisting of the entire unpaid principal amount and accrued interest owed by the Company to the shareholder.
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Sidus Space Fabricates Hardware in Support of NASA’s Artemis Program and Space Launch System

Artemis I rocket rolls out to the launch pad for a wet dress rehearsal on June 6, 2022. (Credit: NASA)

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, is proud to announce that it has completed the fabrication of the first set of hardware in support of NASA’s Artemis Program and their Space Launch System (SLS) Manned Vehicle.

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Sidus Space Expands Relationship and Increases Deliverables to Teledyne Technologies

CAPE CANAVERAL, Fla. (Sidus Space, Inc. PR)Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, is pleased to announce its growing relationship with Teledyne Marine, a part of Teledyne Technologies, Inc. (NYSE:TDY), following a noteworthy Q2 2022. The three-month period marks the strongest revenue quarter between the parties since their partnership began four years ago.

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Sidus Space Celebrates the Successful Space-Qualification of Dhruva Space’s Satellite Orbital Deployer

PSLV launches three satellites for Singapore on June 30, 2022. (Credit: ISRO)

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support is proud to announce that Dhruva Space’s Satellite Orbital Deployer successfully achieved space-qualification on June 30.

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Sidus Space is a Teammate on NASA’s $3.5 Billion Exploration Extravehicular Activity Services Contract

CAPE CANAVERAL, Fla. (Sinus Space, Inc. PR)Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support is proud to announce that it is part of the Collins Aerospace team which was awarded NASA’s Exploration Extravehicular Activity (xEVAS) services contract.

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Sidus Space Reports $2.3 Million First Quarter Loss on Large Increase in Revenues

Revenue Increased 1075% in First Quarter 2022 from First Quarter 2021

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 recent company highlights and financial results for the first quarter ended March 31, 2022.

Q1 2022 Financial Highlights:

  • Revenue increased to $1,799,335 for the three months ended March 31, 2022 from $153,136 in the comparable period of 2021, an increase of 1075%. This was driven by growth in number of customers and significant growth in the size of contracts.
  • Gross Profit increased to $978,337 for the three months ended March 31, 2022 from a loss of $134,540 in the comparable period of 2021. This was primarily attributable to the increase in revenue and decrease in labor intensive contracts and an increase in our higher margin Satellite-as-a-Service business line.
  • Operating Expenses increased to $3,242,783 for the three months ended March 31, 2022 compared to $385,174 for the three months ended March 31, 2021. This was primarily the result of the expansion of staff, the leasing of more space for expansion and a one-time non-cash expense of $1.2M.
  • As of March 31, 2022, the Company had $10.4 million in cash.
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Sidus Space 2021 Earnings Report Shows Lower Revenues & Higher Losses

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.
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Sidus Space Announces Upcoming Launch of LizzieSat Aboard a NASA Resupply Services Rocket

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, is pleased to announce its forward progression towards launch of its LizzieSat™ (LS) satellite to the International Space Station (ISS). This mission is slated to take place later this year.

LS is a multi-mission satellite that supports custom payloads and customer needs leveraging space flight-proven communications, power, navigation and computing subsystems to provide domestic and international customers with valuable data from Low Earth Orbit.

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Sidus Space Announces Strategic Partnership With Aitech Systems Inc. to Support the LizzieSat Constellation

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 is pleased to announce a strategic partnership with Aitech Systems to support LizzieSat™ Constellation.

Through this partnership, Aitech Systems is developing and delivering custom LizzieSat Command and Data Handling (C&DH) flight computers and peripherals. “We have recently received initial components of our core C&DH system development environment from AitechSystemsto support LizzieSat,” said Jamie Adams, Chief Technology Officer for Sidus Space. “The C&DH flight computers are a vital component of LizzieSat as they essentially function as the ‘brain’ of the system.”

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Sidus Space Announces Strategic Partnership With Red Canyon Software to Support the LizzieSat Constellation of 100 Satellites

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, is pleased to announce a strategic partnership with Red Canyon Software, Inc. (Red Canyon) to support LizzieSat™ Constellation of 100 Satellites.

Through this partnership, Red Canyon will support the design, development, assembly, integration, deployment and sustainment of LizzieSat constellation, with its software solutions.

LizzieSats (LS) are 3D manufactured Low Earth Orbit (LEO) microsatellites focused on rapid, cost-effective development and testing of upcoming innovative spacecraft technologies for multiple customers. LS is a 100kg (220-pound) satellite with space to rapidly integrate customer sensors and technologies.

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Sidus Space Announces The Composition of the Board of Directors

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 is pleased to announce composition of the Board of Directors, recently formed with Sidus’ initial public offering, which closed on December 14, 2021.

Sidus Space’s five-member Board includes three independent directors and is composed of the following:

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Sidus Space, Inc. Announces Closing of Initial Public Offering

CAPE CANAVERAL, Fla. (Sidus Space PR) — Sidus Space, Inc. (NASDAQ:SIDU) (the Company), a Space-as-a-Service satellite company, today announced the closing of its previously announced initial public offering.

The Company had previously announced the pricing of its public offering of 3,000,000 shares of its Class A common stock on December 13, 2021 at $5.00 per share for a total of $15,000,000 of gross proceeds to Sidus Space, Inc.

The Company commenced trading on the Nasdaq Capital Market on December 14, 2021 under the symbol ‘SIDU’.

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