Welcome to our dedicated page for Sidus Space news (Ticker: SIDU), a resource for investors and traders seeking the latest updates and insights on Sidus Space stock.
Sidus Space, Inc. (NASDAQ: SIDU) is a pioneering Space and Defense as-a-Service company, providing a comprehensive range of space-based solutions. This service-disabled veteran-owned small business, also recognized as a woman-owned and Hispanic minority-owned small business, offers scalable and low-cost satellite services that cater to a variety of sectors. Sidus Space specializes in the design, manufacturing, and launching of satellites and spacecraft, providing critical data solutions for both government and commercial missions across the solar system.
The company boasts a robust infrastructure of multi-mission satellites equipped with hyperspectral, multi-spectral, and other advanced sensors. These capabilities allow Sidus Space to deliver monitoring services and innovative solutions to industries such as Commercial Space, Aerospace, Defense, and Underwater Marine, as well as various government entities.
Uniquely positioned as more than just a “satellite-as-a-service” provider, Sidus Space partners with its clients from concept development to execution in low Earth orbit and beyond. Their mission-oriented approach ensures tailored solutions, meeting the precise needs of their customers. The company's recent achievements include successful launches, strategic partnerships, and advancements in satellite technology, underscoring their leadership in the space industry.
With a commitment to excellence and innovation, Sidus Space continues to make significant strides in space hardware development and mission support, driving the future of space exploration and data utility for a variety of sectors.
Sidus Space (NASDAQ: SIDU) has appointed Lavanson (LC) Coffey III to its Board of Directors as an Independent Director, effective August 27, 2024. Coffey brings 40 years of aerospace experience across military, government, and commercial sectors. His extensive background includes leadership roles at Airbus US Space & Defense and Ball Aerospace, as well as a distinguished career in the U.S. Air Force. Coffey's expertise spans rocket propulsion engineering, project management, and space launch operations. His appointment is expected to provide strategic direction and valuable insights to support Sidus Space's ongoing growth in the commercial space sector.
Sidus Space (NASDAQ: SIDU) has announced its participation in World Satellite Business Week (WSBW) 2024, taking place in Paris from September 16-20. The company, known for its end-to-end precision Space Infrastructure solutions and satellite Data-as-a-Service offerings, will be represented by CEO Carol Craig. Craig is set to speak on a panel titled 'Sky's No Limit: The Rise of the Space Infrastructure as a Service Offering' on September 18 from 14:10 to 14:50.
This event provides Sidus Space with a platform to showcase its expertise in the rapidly evolving space industry, particularly in the area of Space Infrastructure as a Service. The company's presence at WSBW 2024 underscores its commitment to innovation and leadership in the satellite and space technology sector.
Sidus Space (NASDAQ: SIDU) has been awarded a $2 million contract by Craig Technologies to manufacture two Fleet Interactive Display Equipment (FIDE) Pre-production Unit Main panels for Bechtel Plant Machinery, Inc. (BPMI) in support of a U.S. Navy propulsion program. This marks the third time Sidus Space has been selected as a subcontractor for this customer. The company is currently manufacturing thirteen Propulsion Plant Trainers and had previously manufactured a related U.S. Navy trainer system. Sidus Space will leverage its facilities and team to manufacture, assemble, test, and deliver the FIDE panel trainers. The project involves precision manufacturing and rigorous testing processes to meet high quality and reliability standards for the defense sector.
Sidus Space (NASDAQ: SIDU) reported Q2 2024 financial results and provided a business update. Key highlights include:
- Successful commissioning of first LizzieSat™ (LS-1) launched in March 2024
- Total revenue of $930,000, down from $1.37 million in Q2 2023
- Net loss of $4.1 million, compared to $3.5 million in Q2 2023
- Gross profit margin decreased to -91% from 37% in Q2 2023
- SG&A expenses decreased to $3.1 million from $3.6 million in Q2 2023
- Adjusted EBITDA loss of $3.2 million, compared to $2.8 million in Q2 2023
The company cited timing of fixed price manufacturing milestones and delays in satellite contract payments as reasons for the revenue decrease, expecting recovery in H2 2024. Sidus Space is preparing for the launches of LizzieSat™ 2 and 3 with SpaceX.
Sidus Space (NASDAQ: SIDU), a provider of end-to-end precision Space Infrastructure solutions, has announced its upcoming second quarter 2024 financial results conference call. The call is scheduled for Monday, August 19, 2024, at 5:00 p.m. Eastern Time. Interested parties can join the live call via U.S. Toll-Free at +1-877-269-7751 or International at +1-201-389-0908. A webcast will also be available.
For those unable to attend the live call, a dial-in replay will be accessible until September 2, 2024, at 11:59 P.M. ET. The replay can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) with the replay pin number: 13748500. An online archive of the webcast will remain available for three months on the Sidus Space investor relations website.
Sidus Space (NASDAQ: SIDU) has secured a contract with Xiomas Technologies to supply its FeatherEdge onboard computing system for a groundbreaking fire detection project. This collaborative effort, involving NASA and Harvard University, aims to demonstrate rapid fire detection capabilities using a stratospheric balloon platform.
The FeatherEdge system will process high-resolution thermal images from Xiomas' advanced infrared sensor, performing critical edge computing tasks to compress raw data into actionable analytics. It will generate essential data on the location, size, and intensity of heat signatures for near real-time transmission to ground stations.
Scheduled for launch in October 2024, this project showcases Sidus Space's commitment to leveraging space-based technologies for critical Earth applications and positions the company for future opportunities in governmental and commercial sectors.
Sidus Space (NASDAQ: SIDU) founder and CEO Carol Craig has been named to Forbes' 50 Over 50 list, recognizing women who have achieved significant success after age 50. Craig, a trailblazer in aerospace and defense, founded Craig Technologies in 1999 and later established Sidus Space, a pioneer in satellite manufacturing and space-based solutions.
Under Craig's leadership, both companies have experienced significant growth, supporting government and commercial customers with innovative solutions. Her inclusion on the Forbes list highlights her exceptional accomplishments and serves as an inspiration for those making a difference at any career stage.
Sidus Space (NASDAQ: SIDU) has developed an advanced high-speed switch card using Frontgrade's protocol-independent Crosspoint Switch. This multi-payload switch card is integrated into LizzieSat™-2 (LS-2) and offered as a standalone product for the Small Satellite Supply Chain. The Sidus Low Voltage Differential Signaling (LVDS) Switch Card extends payload processor capabilities, enabling communication with multiple optical sensors through high-speed LVDS data connections.
Key features include:
- Enhanced redundancy and fault tolerance
- Compatibility with Space VPX VITA 78 standard
- 3.125Gbps data rate
- Integration of in-house 3D printing technology
Sidus Space plans to leverage its business operations and marketing resources to bring this technology to market, with full-rate production anticipated in 2025.
Sidus Space (NASDAQ: SIDU), a provider of end-to-end precision Space Infrastructure solutions, is attending the Small Satellite 2024 conference at Utah State University from August 5th to 8th. CEO Carol Craig highlighted the event's importance for networking and discussing the successful launch of LizzieSat™-1 and the upcoming LizzieSat™-2 launch.
The conference is internationally recognized as the premier event for small satellites, offering a platform for industry leaders to review successes, explore new directions, and introduce emerging technologies. It provides networking opportunities with experts in military, science, and academic fields, focusing on key challenges and opportunities in the small satellite community.
Sidus Space (NASDAQ: SIDU), a provider of precision Space Infrastructure solutions, has appointed Jeffrey Shuman, former Chief Human Resources Officer at L3Harris, as an independent Director effective July 8, 2024. CEO Carol Craig and Chairman Leo Riera highlighted Shuman's extensive experience and network within the Space Coast community as valuable assets for Sidus's growth. Shuman has a 40-year career with roles in the US Army, Avon Products, Honeywell International, Northrop Grumman, L3Harris, and Quest Diagnostics. He has served on various advisory boards and earned accolades like the Stevie Award for Best Human Resources Executive.
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