Sidus Space(SIDU) - 2024 Q4 - Annual Results

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$14.2 million, consistent with the prior year[9] Assets and Funding - Current assets increased by approximately $13.0 million, or 142$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]