Sidus Space Announces Over $1.9M New Purchase Orders Received in Third Quarter of 2022 for Space and Defense Hardware and Services

Rhea-AI Summary

Sidus Space (NASDAQ:SIDU) has secured over $1.9 million in new purchase orders for its space and defense hardware services in Q3 2022. This reflects consistent growth within its manufacturing sector, enhancing its revenue streams. CEO Carol Craig emphasized the importance of this sector as part of the company's comprehensive Space-as-a-Service offering. The company is considering expanding its manufacturing capacity to accommodate this growth.

Positive

• Secured over $1.9 million in new purchase orders in Q3 2022.
• Demonstrates sustained growth in space and defense hardware manufacturing.
• Exploring options for expanding manufacturing capacity.

Negative

• None.

Multiple Q3 2022 purchase orders awarded indicates sustained growth of Sidus’ space and defense hardware manufacturing revenue stream

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection is pleased to announce that, in the quarter ended September 30, 2022, it has received a combined total of over $1.9 million in new purchase orders for space and defense hardware and services supporting multiple customers.

“Space and defense hardware manufacturing is an important component of our full-stack offering and has proven to be a steady revenue stream for Sidus as we work to bring additional offerings to market. As a comprehensive space-as-a-service company, our space and defense hardware manufacturing capability is a critical component that supports many of the larger projects and programs within the space ecosystem,” said Carol Craig, Sidus Space Founder and CEO. “Sidus Space has over ten years of experience manufacturing, assembling and testing space hardware with space flight heritage. In response to our sustained manufacturing growth, we are exploring options for expanding our capacity including the possibility of additional shifts.”

About Sidus Space

Sidus Space, located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on commercial satellite design, manufacture, launch, and data collection. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.

Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004005433/en/

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Source: Sidus Space, Inc.

FAQ

How much revenue did Sidus Space generate from new orders in Q3 2022?

Sidus Space secured over $1.9 million in new purchase orders in Q3 2022.

What market segment is driving Sidus Space's revenue growth?

The space and defense hardware manufacturing segment is driving Sidus Space's revenue growth.

What are Sidus Space's plans for manufacturing capacity?

Sidus Space is exploring options to expand its manufacturing capacity in response to sustained growth.

What is the business focus of Sidus Space, Inc.?

Sidus Space focuses on commercial satellite design, manufacture, launch, and data collection.