Sidus Space Reports Third Quarter 2025 Financial Results and Provides Business Update

Sidus Space an innovative space and defense technology company, today announced its financial results for the third quarter ended September 30, 2025, and provided a business update.  

“Q3 was about executing on existing contracts and furthering our efforts to expand our vertically integrated product offerings. We continued laying the groundwork to convert our technology foundation into meaningful commercial opportunities. We advanced design and manufacturing across multiple LizzieSat® platforms, broadened our Fortis™ VPX and FeatherEdge™ product families with new designs, and continued to position Orlaith™ AI as a differentiator for multi-domain autonomy and analytics,” said Carol Craig, Sidus Chairwoman and CEO. “We remain focused on disciplined execution by aligning spend to near-term revenue milestones, identifying operational efficiencies in the form of expense reductions, strengthening our intellectual property, expanding our global partnerships, and accelerating our path to commercialization across space and defense markets as we close out the year.”

Operational Highlights for the Third Quarter Ending September 30, 2025:

Appointed Lawrence Hollister as Chief Business Officer to Drive Strategic Growth and Market Expansion

Completed delivery of additional hardware enclosures for the Mobile Launcher 2

Successfully executed two capital raises to fund key technology initiatives, including design and manufacture of the dual-use, all-domain Fortis™ VPX product line, to support applications across air, land, sea and space

Appointed Tiffany Norwood, Founder and CEO of Tribetan and a globally recognized serial entrepreneur and technology pioneer, to the Board of Directors

Commissioned the Automatic Identification System (AIS) sensor on LS3 and established communications with customer site

Strengthened intellectual property position through continued filings supporting modular satellite manufacturing, rugged compute architectures, and AI-enabled mission payloads.

Subsequent Operational Highlights:

Completed Design for FeatherEdge™ 248Vi: Advancing AI/ML Processing for Space and Defense Applications

Signed Contract to integrate the Lonestar Commercial Pathfinder Mission on LizzieSat®-5

Identified operational efficiencies to reduce selling, general & administrative expenses

Financial Highlights for the Third Quarter Ending September 30, 2025:

Revenue: $1.3 million, down 31% compared to $1.9 million in Q3 2024, reflecting a strategic pivot away from legacy services to new commercial models

Cost of Revenue: $2.6 million, up 42% from Q3 2024 due to increased satellite and software depreciation and an increase of material and labor costs

Cost of Revenue adjusted for non-cash satellite-related depreciation: $1.6 million, up 20% from Q3 2024

Gross Profit (Loss): ($1.3 million), compared to $38 thousand profit in Q3 2024 due to increased satellite depreciation and reduced contribution from legacy high-margin services as we transition to higher-value, recurring revenue lines

Gross Profit (Loss) adjusted for non-cash satellite-related depreciation: ($277 thousand), compared to $559 thousand profit in Q3 2024

SG&A Expenses: $4.3 million, up from $3.2 million in Q3 2024, driven by headcount growth, launch rescheduling, and operational scaling

Adjusted EBITDA: Loss of $4.0 million (non-GAAP), compared to a loss of $2.5 million in Q3 2024

Net Loss: $6.0 million, versus $3.9 million in Q3 2024

Cash Position: $12.7 million as of September 30, 2025, versus $15.7 million a year earlier