Sidus Space (SIDU) Q1 2025 Earnings Call May 15, 2025 05:00 PM ET Company Participants Adarsh Parekh - CFOCarol Craig - Founder, CEO & Board Chair Operator Greetings, and welcome to the Cytis State First Quarter twenty twenty five Results Conference Call. At this time, all participants are in a listen only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce Adesh Parak, Chief Financial Officer. Please go ahead. Adarsh Parekh Good evening, everyone, and thank you for jo ...

Sidus Space (SIDU) Q1 2025 Earnings Call May 15, 2025 05:00 PM ET Speaker0 Greetings, and welcome to the Cytis State First Quarter twenty twenty five Results Conference Call. At this time, all participants are in a listen only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce Adesh Parak, Chief Financial Officer. Please go ahead. Speaker1 Good evening, everyone, and thank you for joining us for Citis Space's twenty twenty five first quarter earnings conference call. ...

Exhibit 99.1 SIDUS SPACE REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE Cape Canaveral, FL – May 15, 2025 – Sidus Space (NASDAQ: SIDU) (the "Company" or "Sidus"), an innovative, agile space mission enabler, today announced its financial results for the first quarter ended March 31, 2025, and provided a business update. The Company is scheduled to host a conference call and webcast today, Thursday, May 15, at 5:00 p.m. ET. "Q1 was a pivotal quarter for Sidus as we launched LizzieSa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________to ___________ Commission File Number: 001-41154 SIDUS SPACE, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 46-0628183 (State or ...

Industry Overview - The global agriculture drones market is projected to grow from $2.01 billion in 2024 to $8.03 billion by 2029, indicating significant growth potential driven by the adoption of aerial data collection tools in agriculture [1] - The cereals and grains segment is experiencing substantial growth, with drones playing a crucial role in optimizing yields through aerial surveys, crop health monitoring, and soil condition assessments [2] - The overall agriculture drone market is expected to grow from $6.10 billion in 2024 to $23.78 billion by 2032, at a CAGR of 18.5%, fueled by demand for precision agriculture and advancements in drone technology [4] Company Developments - ZenaTech, Inc. has received FAA Part 137 approval for its ZenaDrone 1000, allowing it to conduct commercial agricultural operations, including crop spraying and precision agriculture [2][3] - ZenaTech plans to utilize a Drone as a Service (DaaS) model to sell its solutions, targeting larger commercial farms and agribusinesses [2] - Unusual Machines, Inc. reported a fourth-quarter revenue of over $2.0 million, marking a 31% increase quarter-over-quarter, with total revenue for FY2024 reaching $5.65 million, exceeding its target by 13% [11] Technological Advancements - The ZenaDrone 1000 features advanced technology, including AI, sensors, and purpose-built attachments for crop spraying, designed for stable flight and heavy lift capabilities [5][6] - Sidus Space has unveiled a near real-time vessel detection and classification capability through its LizzieSat® satellite platform, enhancing space-based maritime intelligence [12][13] - AgriFORCE Growing Systems Ltd. has made progress in its Radical Clean Solutions division, receiving a U.S. patent for a chemical-free solution to reduce mold and extend the shelf life of produce [14][15][16]

Financial Data and Key Metrics Changes - Total revenue for the 12 months ending December 31, 2024, was approximately $4.7 million, a decrease of $1.3 million, or 22%, compared to the previous year [36] - Cost of revenue increased 42% for the same period to approximately $6.1 million, driven by higher depreciation costs and increased material and labor expenses [37] - Gross profit for the 12 months ended December 31, 2024, decreased 31% to a loss of approximately $1.5 million, with a gross profit margin of negative 31% [38] - Net loss for the 12 months ended December 31, 2024, was $17.5 million, compared to a net loss of $14.3 million in 2023 [42] - Cash balance increased to $15.7 million as of December 31, 2024, from $1.2 million in the previous year [42] Business Line Data and Key Metrics Changes - The company transitioned from a primarily manufacturing-driven revenue model to a scalable, high-margin data and technology services business [34] - The strategic shift included strengthening the pipeline of opportunities with an estimated $200 million in identified opportunities [36] - Selling general and administrative expenses for the 12 months ended December 31, 2024, totaled approximately $14.2 million, consistent with the prior year [39] Market Data and Key Metrics Changes - The company received approval from the U.S. Federal Communications Commission for a micro-constellation of remote sensing satellites, enhancing its operational capabilities [15] - Partnerships with international firms like Reflex Aerospace and WarpSpace were established, expanding the company's global footprint [18] Company Strategy and Development Direction - The company aims to transition from a trusted supplier to a strategic platform provider, focusing on higher-margin revenue streams [11] - The strategy includes diversifying revenue sources to mitigate risks associated with macroeconomic shifts and technological disruptions [21] - The company is focused on executing its long-term strategy, scaling AI-driven space data services, and demonstrating value through operational excellence [44] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the disconnect between operational milestones and stock performance, attributing it to broader market conditions and macroeconomic forces [60] - The company is committed to creating value for shareholders and engaging with the investment community to communicate progress [61] - The focus for 2025 includes achieving key satellite and AI milestones, expanding capabilities, and reinforcing core pillars of technology, AI, and space [49] Other Important Information - The company raised $37 million in funding to support its growth phase and ended 2024 with a cash balance of $15.7 million [25] - The implementation of SAP in 2024 is expected to enhance operational efficiencies across the organization [22] Q&A Session Summary Question: What factors contribute to the disconnect between operational milestones and stock performance? - Management acknowledged the frustration of investors and noted that stock performance is influenced by external factors, including broader market conditions and sector-specific trends [60] Question: What is Citus' approach to capital strategy moving forward? - The company requires upfront investment to develop capabilities but anticipates needing significantly less external capital over time as it shifts to a higher-margin data and service business [64]

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately $4.7 million, a decrease of $1.3 million or 22% compared to 2023[5] - Cost of revenue increased 42% to approximately $6.1 million for the year ended December 31, 2024, driven by higher depreciation and material costs[6] - Gross profit for the year ended December 31, 2024, was a loss of approximately $1.5 million, resulting in a gross profit margin of negative 31%[8] - Net loss for the year ended December 31, 2024, was $17.5 million, compared to a net loss of $14.3 million in 2023, representing a 22% increase in loss[11] - Adjusted EBITDA loss for the year ended December 31, 2024, totaled $12.9 million, a 19% increase in loss compared to the prior year[10] - Selling, general, and administrative expenses for the year ended December 31, 2024, totaled approximately $14.2 million, consistent with the prior year[9] Assets and Funding - Current assets increased by approximately $13.0 million, or 142%, to $22.3 million as of December 31, 2024, primarily due to increased cash balance[13] - The company raised $37 million in funding and ended 2024 with a cash balance of $15.7 million, up from $1.2 million in 2023[3][12] Strategic Initiatives - LizzieSat-3 was launched in March 2025 at a total cost 25% less than LizzieSat-2 and 45% less than LizzieSat-1, demonstrating improved capital efficiency[7] - The company announced a strategic partnership with Reflex Aerospace to enhance its presence in global markets and deliver high-performance solutions[3]

Sidus Space, Inc. (SIDU) Q4 2024 Earnings Conference Call March 31, 2025 05:00 PM ET Company Participants Conference Operator - OperatorAdarsh Parakh - Chief Financial OfficerCall Moderator - ModeratorCarol Craig - Chairman and Chief Executive Officer Conference Operator and welcome to the CITUS-based fourth quarter 2024 results conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal. If anyone should require operator assistance, please ...

Satellite Launch and Technology - Sidus Space successfully launched three hybrid, additively manufactured LizzieSat® satellites equipped with advanced AI edge-computing capabilities in just over 12 months[282]. - The company received FCC approval in October 2024 to operate a micro constellation of remote sensing, multi-mission satellites in Low Earth Orbit (LEO)[283]. - Planned enhancements for the LizzieSat® platform include an AI processor capable of handling 248 trillion operations per second (TOPS) and an upgraded payload processor with speeds up to 12 Gb/s[283]. - The LizzieSat® design enables simultaneous on-orbit data collection from multiple sensors, enhancing flexibility for various mission requirements[288]. - The integration of automated identification system (AIS) technology into the LizzieSat® constellation allows for unique vessel tracking and monitoring solutions[314]. - The company plans to launch four to six additional LizzieSat® satellites ranging from 100kg to 400kg over the next 24 months[317]. - The FeatherEdge™ processor was activated in Q2 2024, enabling near real-time intelligence from earth observation data[314]. Manufacturing and Operations - Sidus Space operates a 35,000-square-foot manufacturing facility that supports the manufacturing, testing, and assembly of space-grade hardware[282]. - The company has an approximately 10,000 square-foot reconfigurable avionics lab for producing mission-critical components[292]. - Sidus Space's 3D printing technology reduces production costs and lead times while producing parts that are stronger and lighter than traditional materials[295]. - The company has extensive experience in manufacturing, assembly, and testing of electronic systems, ensuring high-quality production for mission-critical applications[296]. - The company aims to expand its space hardware operations from one shift to two and a half shifts to meet growing demand[319]. Revenue and Financial Performance - Revenue for the year ended December 31, 2024, was $4,672,646, a decrease of 22% from $5,962,785 in 2023[352]. - Cost of revenue increased by 42% to $6,141,657 in 2024 from $4,321,482 in 2023[352]. - Gross profit turned into a loss of $1,469,011 in 2024, compared to a profit of $1,641,303 in 2023, representing a change of 190%[352]. - The gross profit percentage dropped to -31% in 2024 from 28% in 2023[352]. - Net loss for 2024 was $17,524,056, a 22% increase from the net loss of $14,328,348 in 2023[352]. - Total revenue for the twelve months ended December 31, 2024 decreased by approximately $1.3 million, or 23%, to approximately $3.9 million compared to $5.0 million for the same period in 2023[353]. - Adjusted EBITDA for the twelve months ended December 31, 2024 was approximately $(12.9) million, a decline of 19% from approximately $(10.9) million in 2023[360]. Market and Industry Insights - The global space economy is projected to reach $1.8 trillion by 2035, growing from $630 billion in 2023, with a CAGR of 9%[341]. - The small satellite market is expected to grow at a CAGR of 16.4%, reaching approximately $30.6 billion by 2034[342]. - The small satellite launch market is projected to grow by over 279% to reach $28.4 billion[346]. Strategic Partnerships and Business Model - The company offers a subscription-based Data-as-a-Service model utilizing the Orlaith AI ecosystem, providing timely data insights for applications in environmental monitoring and security[289]. - Sidus Space's vertically integrated model allows for diverse revenue generation opportunities, mitigating risks associated with macroeconomic shifts[285]. - The company has established strategic partnerships with international partners to support the Sidus International Space Center, enhancing its market presence[308]. - The company is focused on vertical integration to enhance the capabilities of its multi-mission satellite constellation, ensuring cost-effective solutions for customers[310]. Accounting and Compliance - Revenue is recognized based on the percentage-of-completion method for fixed price contracts, reflecting total costs incurred to date[382]. - Fixed price contracts related to satellite business recognize revenue upon meeting milestone payments, with nonrefundable progress payments retained if the contract is terminated[383]. - The company accounts for most contracts as performance obligations satisfied over time, with amounts recognized as revenue reflected as contract assets until invoiced[384]. - The provision for expected credit losses on trade receivables is based on historical information and customer solvency, calibrated with forward-looking information[386]. - Operating leases are recognized as right-of-use assets and liabilities on the balance sheet, with lease payments recognized on a straight-line basis over the lease term[391]. - The company uses the Black-Scholes option-pricing model for valuing stock options, requiring significant assumptions that may affect future equity-based compensation[393]. - The company is utilizing the extended transition periods under the JOBS Act for complying with new accounting standards, which may affect comparability with other companies[395]. - The company remains an "emerging growth company" until total annual gross revenues exceed $1.07 billion or other specified conditions are met[396]. - The company is not required to provide market risk disclosures as it qualifies as a "smaller reporting company" under the Exchange Act[397].

Financial Data and Key Metrics Changes - The company reported its third quarter 2024 earnings, with specific financial metrics to be discussed later in the call [3][4]. Business Line Data and Key Metrics Changes - Detailed performance across various business lines will be provided in subsequent sections of the call [3]. Market Data and Key Metrics Changes - Market conditions and specific metrics related to different markets will be addressed during the call [3]. Company Strategy and Development Direction and Industry Competition - The company will outline its strategic initiatives and competitive positioning within the industry as the call progresses [3]. Management's Comments on Operating Environment and Future Outlook - Management will provide insights into the current operating environment and future expectations, highlighting potential risks and uncertainties [4][5]. Other Important Information - The company emphasizes the importance of understanding the risks associated with forward-looking statements and encourages listeners to refer to SEC filings for more details [5]. Q&A Session All Questions and Answers Question: What are the expectations for future revenue growth? - Management will address revenue growth expectations and any related strategic initiatives during the Q&A segment [3].