SIDUS SPACE : REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS WITH Q1 YEAR OVER YEAR IMPROVEMENT IN REVENUE AND GROSS MARGIN

Published: 2026-05-14 17:09:14 ET SIDU

Published on 05/14/2026 at 05:09 pm EDT

Demonstrates On-Orbit Execution, Improves Financial Performance, and Advances Flight Ready Technology Portfolio

CAPE CANAVERAL, Fla., May 14, 2026 /PRNewswire/ -- Sidus Space, Inc. (NASDAQ: SIDU), (the "Company" or "Sidus"), an innovative space and defense technology company, today announced its financial results for the first quarter ended March 31, 2026, and provided a business update highlighting continued on-orbit execution, progress across customer payloads and disciplined financial management.

The Company will host a conference call and webcast today, Thursday, May 14, at 5:00 p.m. Eastern Time.

"During the first quarter, we continued to execute our technical roadmap while maintaining disciplined cost control," said Carol Craig, Founder and Chief Executive Officer of Sidus Space. "We delivered high-resolution imagery from LizzieSat-3, advanced customer payload commissioning, and finalized flight ready configurations for next generation systems planned for LizzieSat-4 and LizzieSat-5. These milestones strengthen our on-orbit heritage and position Sidus to support future missions while remaining focused on responsible capital allocation and operational execution."

Operational Highlights for the Quarter Ending March 31, 2026:

Subsequent Operational Highlights:

Financial Highlights for the First Quarter Ending March 31, 2026:

Conference Call and Webcast

Event: Sidus Space First Quarter Financial Results Conference Call

Date: Thursday, May 14, 2026

Time: 5:00 p.m. Eastern Time

Live Call: + 1-866-652-5200 (U.S. Toll-Free) or +1-412-317-6060 (International)

Webcast:https://app.webinar.net/3lBO1a4r6ZQ

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until Thursday, May 21, 2026, at 11:59 P.M. ET and can be accessed by dialing +1-855-669-9658 (U.S. Toll-Free) or +1-412-317-0088 (International) and entering replay pin number: 3323981. An online archive of the webcast will be available for one year following the event at https://investors.sidusspace.com/.

About Sidus SpaceSidus Space, Inc. (NASDAQ: SIDU) is an innovative space and defense technology company offering flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: https://www.sidusspace.com

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, 2025, 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.

Non-GAAP Measures

To provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures of adjusted EBITDA. We use adjusted EBITDA in order to evaluate our operating performance and make strategic decisions regarding future direction of the company since it provides a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as net income (as determined by U.S. GAAP) adjusted for interest expense, depreciation and amortization expense, capital raise expense, severance costs, equity-based compensation and impairment loss. These non-GAAP measures may be different from non-GAAP measures made by other companies since not all companies will use the same measures. Therefore, these non-GAAP measures should not be considered in isolation or as a substitute for relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis.

The following table reconciles adjusted EBITDA to net loss (the most comparable GAAP measure) for the three months ended March 31, 2026 and 2025:

Three Months Ended

March 31,

2026

2025

Change

Net Income / (Loss)

(5,211,607)

(6,414,627)

1,203,020

(19)

Interest Income/Expense (i)

(258,102)

341,707

(599,809)

(176)

Depreciation & Amortization(ii)

611,606

934,674

(323,068)

(35)

Capital Raise expense (iii)

5,480

(5,480)

(100)

Severance Costs

16,042

206,100

(190,058)

(92)

Equity based compensation (iv)

215,127

252,243

(37,116)

(15)

Total Non-GAAP Adjustments

584,673

1,740,204

(1,155,531)

(66)

Adjusted EBITDA

(4,626,934)

(4,674,423)

47,488

(1)

(i)

Sidus Space incurred lower net interest expense following the repayment of the asset-based loan in January 2026 and increased interest income from cash holdings.

(ii)

Sidus Space incurred lower depreciation expense following the satellite impairment write-off in Q4 2025.

(iii)

Sidus Space did not incur internal fundraising expense related to capital raises.

(iv)

Sidus Space issued stock-based compensation for employee and Board services rendered.

SIDUS SPACE, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

March 31,

December 31,

2026

2025

Assets

Current assets

Cash

27,349,756

43,175,996

Accounts receivable

215,916

272,831

Accounts receivable - related parties

1,254,447

1,727,939

Contract asset

81,241

322,773

Contract asset - related party

119,306

209,673

Prepaid and other current assets

4,137,358

4,979,378

Total current assets

33,158,024

50,688,590

Property and equipment, net

17,260,377

14,184,379

Operating lease right-of-use assets

635,143

702,856

Intangible asset

398,135

Other assets

141,366

116,751

Total Assets

51,593,045

66,090,711

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable and other current liabilities

3,352,995

5,472,464

Accounts payable and accrued interest - related party

50,240

876,007

Contract liability

161,299

186,537

Contract liability - related party

28,292

Asset-based loan liability

8,212,186

Operating lease liability

280,324

273,545

Total current liabilities

3,873,150

15,020,739

Operating lease liability - non-current

362,510

434,695

Total Liabilities

4,235,660

15,455,434

Commitments and contingencies

Stockholders' Equity

Preferred Stock: 5,000,000 shares authorized; $0.0001 par value; no shares issued and outstanding

Series A convertible preferred stock: 2,000 shares authorized; 0 shares issued and outstanding

Common stock: 210,000,000 authorized; $0.0001 par value

Class A common stock: 200,000,000 shares authorized; 66,419,851 and 65,324,055 shares issued and outstanding, respectively

6,642

6,532

Class B common stock: 10,000,000 shares authorized; 100,000 shares issued and outstanding

Additional paid-in capital

142,389,868

140,456,263

Accumulated deficit

(95,039,135)

(89,827,528)

Total Stockholders' Equity

47,357,385

50,635,277

Total Liabilities and Stockholders' Equity

51,593,045

66,090,711

SIDUS SPACE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

Three Months Ended

March 31,

2026

2025

Revenue

250,155

160,704

Revenue - related parties

109,217

77,790

Total - revenue

359,372

238,494

Cost of revenue

1,409,445

1,866,972

Gross loss

(1,050,073)

(1,628,478)

Operating expenses

Selling, general and administrative

4,419,637

4,444,442

Total operating expenses

4,419,637

4,444,442

Net loss from operations

(5,469,710)

(6,072,920)

Other income (expense)

Other income

81,846

100,000

Interest expense

(879)

(75,407)

Interest income

195,613

66,345

Asset-based loan expense

(18,477)

(432,645)

Total other income (expense)

258,103

(341,707)

Loss before income taxes

(5,211,607)

(6,414,627)

Provision for income taxes

Net loss

(5,211,607)

(6,414,627)

Dividend on Series A preferred Stock

Net loss attributed to stockholders

(5,211,607)

(6,414,627)

Basic and diluted loss per common share

(0.08)

(0.35)

Basic and diluted weighted average number of common shares outstanding

66,583,190

18,228,267

SIDUS SPACE, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

Three Months Ended

March 31,

2026

2025

Cash Flows From Operating Activities:

Net loss

(5,211,607)

(6,414,627)

Adjustments to reconcile net loss to net cash used in operating activities:

Stock based compensation

215,127

252,244

Depreciation and amortization

611,606

934,673

Non-cash fees on asset-based loan

20,243

Changes in operating assets and liabilities:

Accounts receivable

56,915

366,047

Accounts receivable - related party

473,492

(6,566)

Inventory

112,744

Contract asset

241,532

9,332

Contract asset - related party

90,367

Prepaid expenses and other assets

817,405

1,258,675

Accounts payable and accrued liabilities

(2,119,469)

255,041

Accounts payable and accrued liabilities - related party

(825,767)

21,172

Contract liability

(25,238)

(16,192)

Contract liability - related party

28,292

Changes in operating lease assets and liabilities

2,307

Net Cash used in Operating Activities

(5,645,038)

(3,207,213)

Cash Flows From Investing Activities:

Purchase of property and equipment

(3,687,604)

(2,978,308)

Net Cash used in Investing Activities

(3,687,604)

(2,978,308)

Cash Flows From Financing Activities:

Proceeds from issuance of common stock units

2,381,247

Proceeds from exercise of warrants

1,718,588

Proceeds from asset-based loan agreement

3,289,744

Repayment of asset-based loan agreement

(8,212,186)

(417,981)

Repayment of notes payable

(3,059,767)

Net Cash provided by (used in) Financing Activities

(6,493,598)

2,193,243

Net change in cash

(15,826,240)

(3,992,278)

Cash, beginning of period

43,175,996

15,703,579

Cash, end of period

27,349,756

11,711,301

Supplemental cash flow information

Cash paid for interest

28,626

5,462

Cash paid for taxes

Contacts:

Investor [email protected]

Media [email protected]

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SOURCE Sidus Space, Inc.

Released May 14, 2026

Disclaimer

Sidus Space Inc. published this content on May 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2026 at 21:08 UTC.