Sidus Space Inc Stock Price, News & Analysis

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.

Sidus Space (NASDAQ: SIDU) announced that, in collaboration with NASA Stennis Space Center, it has successfully met the primary objectives of the ASTRA payload mission on July 1, 2024.

This mission marks a significant milestone for NASA Stennis and its autonomous systems team. The ASTRA payload, designed as a technology demonstrator, was tested on Sidus Space's LizzieSat™-1 (LS-1) satellite.

Sidus Space handled all mission operations, including launch and satellite activation, enabling the NASA team to achieve its primary mission goals. The mission now focuses on data collection, on-orbit capabilities, and automated flight following for ASTRA.

The collaboration underscores Sidus Space's commitment to advancing space technology and innovation.

Sidus Space (NASDAQ: SIDU) has signed a Memorandum of Understanding (MOU) with NamaSys Bahrain to form a joint venture,

Sidus Space (NASDAQ: SIDU) has demonstrated an advanced AI-enhanced firefighting software solution aboard its LizzieSat™ satellite, launched in March 2024 on SpaceX's Transporter-10 mission. Developed in collaboration with Xiomas Technologies and funded by NASA, this innovation leverages FeatherEdge technology to improve thermal sensing accuracy and reliability. Unlike traditional methods, FeatherEdge uses advanced algorithms for real-time data processing and analysis on orbit, enabling timely and precise thermal data important for firefighting. This milestone highlights the efficacy of industry-research collaborations in advancing space technology.

Sidus Space (NASDAQ: SIDU) announced the successful flight heritage achievement of Arkisys' Applique technology aboard the LizzieSat-1, in collaboration with Arkisys and supported by the Defense Innovation Unit (DIU). The Applique, integrated with Sidus' FeatherEdge AI technology, successfully completed DIU contract deliverables, confirming its readiness for future space missions. This universal interface adapter allows seamless integration of various spacecraft payloads. The mission tested and validated the Applique, enabling secure payload connections and advancing its Technology Readiness Level (TRL) to 9, the highest readiness level. Arkisys aims to use the Applique in all future space missions, enhancing payload flexibility and integration capabilities.

Sidus Space (NASDAQ: SIDU) announced the successful data transmission from its LizzieSat-1 mission via its AI delivery platform, FeatherEdge, on May 24, 2024. The mission showcased FeatherEdge’s ability to update algorithms post-launch, process data 300 times faster than a CPU, and downlink health and status data to the Sidus Mission Control Center. This milestone marks the start of rapid intelligence delivery missions, leveraging Google-powered AI processors, with plans for NVIDIA-powered upgrades in early 2025. LizzieSat satellites equipped with FeatherEdge offer datacenter-scale computing on orbit, aiming to onboard and adapt to customer needs across industry, academia, and government sectors.

Sidus Space (NASDAQ: SIDU) has successfully passed the ISO 9001:2015 and AS9100:2016 recertification audit. This certification highlights the company's consistent quality in design, development, and manufacturing processes. Sidus has been ISO certified since 2012, demonstrating its commitment to quality standards, customer satisfaction, and continuous improvement. The thorough vetting process confirmed that Sidus' Quality Management System (QMS) meets stringent quality requirements, providing confidence to its customers.

Sidus Space (NASDAQ: SIDU), a satellite and data service company, announced the extension of its Department of Defense (DoD) Mentor-Protégé Program with L3Harris Technologies (NYSE:LHX) for a second year. This program, which aims to foster partnerships between established defense contractors and smaller emerging businesses, will now continue until March 31, 2025. Carol Craig, Founder and CEO of Sidus Space, expressed enthusiasm about deepening the relationship with L3Harris, particularly in supporting government customers. Both companies are located on Florida’s Space Coast, a location seen as beneficial for strengthening their partnership.

Sidus Space (NASDAQ: SIDU) reported its Q1 2024 financial results and provided a business update. Key achievements include the successful launch of their first LizzieSat on the SpaceX Transporter-10 Rideshare Mission and securing several contracts, including a $794 million ceiling contract with the National Geospatial-Intelligence Agency. Financially, Sidus Space saw a total revenue of $1.1 million, a decrease of $1.2 million from the same period last year. Costs of revenue decreased by 29% to $1 million, but gross profit margin dropped to 8% from 40%. The company posted a net loss of $3.8 million and an adjusted EBITDA loss of $2.7 million. On the balance sheet, cash reserves increased to $6.2 million, and total stockholders’ equity rose to $17.2 million.