Sidus Space, Inc., a U.S. commercial space company, has released its annual financial report for the fiscal year ended December 31, 2023. The company reported a total revenue of $5,962,785, a decrease from the previous year's $7,293,408. The cost of revenue was $4,321,482, resulting in a gross profit of $1,641,303. However, the company experienced significant operating expenses amounting to $14,166,617, leading to a net loss from operations of $12,525,314. Other expenses, including interest and finance expenses, contributed to a total net loss of $14,328,348. The company's balance sheet shows current assets of $9,202,310 and property and equipment valued at $9,570,214. Total liabilities amounted to $12,219,356, while stockholders' equity stood at $7,131,756. Sidus Space has continued to develop its business, focusing on manufacturing services, space-infrastructure-as-a-service, and space...Show More

Sidus Space, Inc., a U.S. commercial space company, has released its annual financial report for the fiscal year ended December 31, 2023. The company reported a total revenue of $5,962,785, a decrease from the previous year's $7,293,408. The cost of revenue was $4,321,482, resulting in a gross profit of $1,641,303. However, the company experienced significant operating expenses amounting to $14,166,617, leading to a net loss from operations of $12,525,314. Other expenses, including interest and finance expenses, contributed to a total net loss of $14,328,348. The company's balance sheet shows current assets of $9,202,310 and property and equipment valued at $9,570,214. Total liabilities amounted to $12,219,356, while stockholders' equity stood at $7,131,756. Sidus Space has continued to develop its business, focusing on manufacturing services, space-infrastructure-as-a-service, and space-based data and insights. Despite the net losses, the company is optimistic about its future plans, aiming to expand its on-orbit infrastructure and data collection services to meet the growing demands of the commercial and government sectors in the space economy. The company's future strategies include transitioning to a subscription-based model and digitizing its manufacturing processes.