Sidus Space, a U.S. commercial space company, reported a quarterly revenue of $1,050,155 for the period ending March 31, 2024, a 54% decrease from the $2,263,627 reported in the same period in 2023. The company's net loss widened by 11% to $3,810,500 compared to the previous year's $3,441,059. The gross profit margin significantly declined from 40% to 8%, primarily due to a shift in contract mix and reduced higher-margin satellite-related business. Operating expenses remained relatively stable, with a slight increase of 3% to $3,645,583. The company successfully launched and deployed its first LizzieSat satellite into low Earth orbit, marking a significant milestone in its business development. Sidus Space plans to expand its satellite services, offering on-orbit infrastructure and space-based data collection, aiming to address larger market needs and transition into a subscription-based model upon digitization of its manufacturing process. The company's future plans include enhancing its satellite constellation capabilities, increasing international and domestic partnerships, and expanding its data analytics offerings to deliver greater value to customers.

Sidus Space, a U.S. commercial space company, reported a quarterly revenue of $1,050,155 for the period ending March 31, 2024, a 54% decrease from the $2,263,627 reported in the same period in 2023. The company's net loss widened by 11% to $3,810,500 compared to the previous year's $3,441,059. The gross profit margin significantly declined from 40% to 8%, primarily due to a shift in contract mix and reduced higher-margin satellite-related business. Operating expenses remained relatively stable, with a slight increase of 3% to $3,645,583. The company successfully launched and deployed its first LizzieSat satellite into low Earth orbit, marking a significant milestone in its business development. Sidus Space plans to expand its satellite services, offering on-orbit infrastructure and space-based data collection, aiming to address larger market needs and transition into a subscription-based model upon digitization of its manufacturing process. The company's future plans include enhancing its satellite constellation capabilities, increasing international and domestic partnerships, and expanding its data analytics offerings to deliver greater value to customers.