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Sidus Space reported a net loss of $29.5 million for full-year 2025, driven by increased depreciation from satellite fleet expansion and a $4.5 million impairment charge, while revenue declined 28% to $3.4 million as the company transitions to higher-margin satellite and data business lines.
Sidus Space's full-year 2025 financial results reflect the company's ongoing strategic transition toward higher-margin satellite manufacturing, data, and technology business lines, as articulated by CEO Carol Craig. The 28% revenue decline to $3.4 million was attributed to this deliberate shift away from lower-margin activities, with the company focusing on building a scalable, recurring revenue base anchored by its growing LizzieSat fleet. The significant increase in cost of revenue (48% to $9.1 million) and resulting gross loss expansion to $5.7 million were primarily driven by higher depreciation costs associated with the expansion of Sidus' on-orbit satellite fleet, including the deployment of LizzieSat-2 and LizzieSat-3. Management noted that while depreciation will continue to impact cost of revenue, it is expected to be significantly offset as the company grows its high-margin satellite and data-related revenue. The net loss of $29.5 million included a $4.5 million non-cash impairment charge related to LizzieSat-1 and associated assets, which contributed to the year-over-year increase in net loss. Excluding this impairment, core SG&A expenses increased to $17.8 million, driven by higher payroll to support expanding satellite operations and business development activities. The company's strengthened balance sheet, with cash increasing to $43.2 million from $15.7 million following equity capital raises in the third and fourth quarters of 2025, positions Sidus to accelerate development of LizzieSat-4 and LizzieSat-5 while executing its growing pipeline of high-margin satellite and data programs. Operational achievements during the year included the successful launch and commissioning of LizzieSat-3, on-orbit AI processing demonstrations, and securing multiple strategic contracts, including the amended $120 million lunar satellite manufacturing agreement with Lonestar Data Holdings and the ten-year IDIQ contract under MDA's SHIELD program with a $151 billion potential ceiling.
Event Type
Disclosure
Mandatory
Variant
8-K
, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amende
Financial Statements and Exhibits.** (d) Exhibits | Exhibit No. | | Description | |---|---|---| | | | | | 99.1 | | Press release of Sidus Space, Inc. dated Apri
| Metric | Value | Basis |
|---|---|---|
| Revenue | $3.4M | GAAP |
| Cost of Revenue | $9.1M | GAAP |
| Gross Loss | $5.7M | GAAP |
| Gross Profit Percentage | -168% | GAAP |
| Selling, General and Administrative Expenses | $22.3M | GAAP |
| Net Loss | $29.5M | GAAP |
| Adjusted EBITDA Loss | $17.3M | Non-GAAP |