Financial Performance - Q3 2024 revenues reached 1.9million,representinga9038,000, a 140% increase year-over-year[1] - Q3 2024 EBITDA loss improved by 33% to 2.5millioncomparedtothesameperiodlastyear[1]−AdjustedEBITDAlossforQ32024was2.5 million, compared to a loss of 3.7millioninQ32023,indicatinga331,868,958, a significant increase from 985,520inQ32023,representinganincreaseof89.538,171, compared to a loss of 96,281inQ32023,indicatingaturnaroundinprofitability[16]−NetlossforQ32024was3,902,589, slightly improved from a net loss of 4,082,085inQ32023[16]−Basicanddilutedlosspercommonshareimprovedto(0.93) in Q3 2024 from (5.49)inQ32023[16]ExpensesandLiabilities−Selling,general,andadministrativeexpensesdecreasedby153.2 million[1] - Operating expenses for Q3 2024 were 3,210,069,downfrom3,778,460 in Q3 2023, a decrease of 15%[16] - Current liabilities decreased to 13,819,315in2024from12,219,356 in 2023, a reduction of 13.1%[15] - Cash paid for interest increased significantly to 524,015from20,353 in the prior year, highlighting a rise in interest expenses[17] - Stock-based compensation decreased to 236,040from845,029, reflecting a reduction in equity compensation expenses[17] Assets and Equity - Total assets increased to 23,096,815in2024from19,351,112 in 2023, reflecting a growth of 19.1%[15] - Total stockholders' equity increased to 9,277,500in2024from7,131,756 in 2023, a growth of 30.1%[15] - Cash balance increased to 1,231,401in2024from1,216,107 in 2023, showing a slight growth of 1.3%[15] - Accounts receivable rose to 1,495,340in2024from1,175,077 in 2023, an increase of 27.3%[15] Cash Flow - Cash provided by financing activities totaled 15,406,183,upfrom14,561,964 in the previous year, reflecting a positive cash flow from financing[17] - Net cash used in operating activities was 10,288,228,comparedto9,954,980 in 2023, showing a higher cash outflow from operations[17] - The company reported a decrease in cash at the end of the period to 1,231,401from1,597,331 in the previous year[17] - Total cash used in investing activities was 5,102,661,slightlydownfrom5,304,912 in 2023, indicating stable investment spending[17] Contracts and Projects - Sidus Space was selected to build a 6 satellite Lunar constellation for Lonestar Data Holdings[2] - The company secured a 2millioncontractfromCraigTechnologiesforU.S.Navyequipment[4]−FCCapprovalwasgrantedfortheoperationofamicroconstellationofsatellitesinLowEarthOrbit[4]−TheLizzieSat™−2satelliteisscheduledforlaunchnoearlierthanDecember2024[4]OtherFinancialMetrics−NetlossforSeptember2024was11,849,173, compared to a net loss of 11,024,725in2023,indicatinganincreaseinlosses[17]−Accountsreceivabledecreasedby320,263, contrasting with an increase of 258,493inthepreviousyear,suggestingimprovedcollectionefforts[17]−Proceedsfromtheissuanceofcommonstockunitswere13,742,311, down from $14,788,121, indicating a decline in capital raised through equity[17]
Sidus Space(SIDU)2024-11-14 22:22