Sidus Space Reports First Quarter 2026 Financial Results With Q1 Year Over Year Improvement In Revenue And Gross Margin

May 14, 2026, 17:02 ET

Sidus Space, Inc. today announced its financial results for the first quarter ended March 31, 2026, and provided a business update highlighting continued on-orbit execution, progress across customer payloads and disciplined financial management.  

The Company will host a conference call and webcast today, Thursday, May 14, at 5:00 p.m. Eastern Time.  

"During the first quarter, we continued to execute our technical roadmap while maintaining disciplined cost control," said Carol Craig, Founder and Chief Executive Officer of Sidus Space. "We delivered high-resolution imagery from LizzieSat-3, advanced customer payload commissioning, and finalized flight ready configurations for next generation systems planned for LizzieSat-4 and LizzieSat-5. These milestones strengthen our on-orbit heritage and position Sidus to support future missions while remaining focused on responsible capital allocation and operational execution." 

Operational Highlights for the Quarter Ending March 31, 2026: 

Delivered initial imagery from HEO USA's non-Earth imaging camera aboard LizzieSat-3, including sub 5-meter resolution imagery, as part of ongoing payload commissioning and an important step along the path toward initiating subscription-based data service delivery following completion of commissioning

Expanded agreement with Lonestar Data Holdings to build an additional StarVault orbital data storage payload

Achieved integration milestone with Maris-Tech Ltd. (NASDAQ: MTEK) on its AI-based edge computing payload, scheduled to launch aboard LizzieSat -4

Signed a Memorandum of Understanding (MOU) with Simera Sense to advance AI-enabled hyperspectral imaging capabilities

Finalized the Fortis VPX Command and Data Handling platform for integration on to LizzieSat-4 and LizzieSat-5, establishing on-orbit heritage for the Company's next generation spacecraft computing architecture

Appointed Kelle Wendling, a senior aerospace and defense executive, to the Board of Directors

Subsequent Operational Highlights:

Completed best-efforts registered direct offering on April 21, 2026, generating gross proceeds of $58.5 million, further strengthening the Company's liquidity position

Announced planned Chief Financial Officer (CFO) transition subsequent to quarter end: current CFO expected to depart effective June 1, 2026, with John Burke appointed Interim Chief Financial Officer effective the same date while the Company conducts a comprehensive search for a permanent CFO.

Financial Highlights for the First Quarter Ending March 31, 2026:

Revenue: $359,000, an increase of 51% compared to $238,000 in Q1 2025, driven by new customer contracts including Lonestar Data Holdings and Teledyne Marine

Cost of Revenue: $1.4 million, a 25% decrease compared to $1.9 million in Q1 2025, reflecting lower depreciation and improved manufacturing cost discipline

Gross Profit (Loss): Gross loss of $1.1 million, a 36% improvement from a gross loss of $1.6 million in Q1 2025

Selling, General and Administrative Expenses (SG&A) Expenses: $4.4 million, consistent with $4.4 million in Q1 2025

Adjusted EBITDA (Non-GAAP): Loss of $4.6 million, as compared to a $4.7million loss in Q1 2025

Net Loss: $5.2 million, an improvement of $1.2 million, or 19%, as compared to Q1 2025 Cash Position: $27.3 million as of March 31, 2026, with no outstanding term debt