The following is a summary of the Sidus Space, Inc. (SIDU) Q3 2024 Earnings Call Transcript:
Financial Performance:
Sidus Space reported a 90% year-over-year revenue increase for Q3 2024, amounting to $1.9 million.
Gross profit for Q3 2024 was $38,000, a significant improvement from a $96,000 loss in Q3 2023, with a gross margin of 2%.
Net loss for Q3 2024 was reduced to $3.9 million from $4.1 million in the prior year.Adjusted EBITDA loss improved to negative $2.5 million, a 33% better performance compared to the same period last year.
Business Progress:
Sidus Space has launched and operates LizzieSat platform and secured significant contracts including a $2 million contract with the U.S. Navy and an exclusive agreement with Lonestar for lunar satellite missions.
Received FCC satellite approval for LizzieSat-2-5, paving the way for micro-constellation deployment.
Plans to launch the next satellites, LizzieSat-2 in December 2024 and LizzieSat-3 in Q1 2025.
Opportunities:
Growth in the commercial and government satellite markets, supported by the company's diverse offerings like LizzieSat and FeatherEdge computing systems.
Expansion into lunar missions through the Lonestar agreement for data storage satellites orbiting the moon.
Risks:
Potential delays and external dependencies affecting launches, impacting revenue and operational schedules.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
