Sidus Space Reports Second Quarter 2026 Financial Results

 Sidus Space, Inc. 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