Sidus Space (NASDAQ:SIDU) released first-quarter financial results and hosted an earnings call on Thursday. Read the complete transcript below.
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Access the full call at https://app.webinar.net/3lBO1a4r6ZQ
Summary
Sidus Space Inc reported a 51% increase in total revenue for Q1 2026, reaching $359,000, driven by new customer contracts.
The company achieved a 25% reduction in cost of revenue due to lower depreciation expenses and improved cost discipline, resulting in a 36% improvement in gross loss.
Strategic initiatives included the launch and operation of multiple LISISAT satellites, advancing the Fortis VPX platform, and expanding agreements with Lone Star Data for data storage payloads.
Future outlook emphasizes scaling capabilities, disciplined capital allocation, and converting evaluations into commercial revenue, supported by a strengthened balance sheet with $27.3 million in cash.
Management highlighted successful capital raises, strategic investments in technology development, and maintaining a debt-free status to support growth in commercial and defense markets.
Full Transcript
OPERATOR
Good evening and welcome to Sidus Space Inc First Quarter 2026 Financial Results Conference Call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the start key followed by zero. Please note this event is being recorded. I would now like to turn the conference over to Adarsh Parekh, Chief Financial Officer. Please go ahead. Good evening everyone and thank you for joining us for Sidus Space Inc’s first quarter 2026 earnings conference call. Joining us today from the company is Carol Craig, Chairwoman and Chief Executive Officer and myself Adarsh Parekh, Chief Financial Officer. During today’s call we may make certain forward looking statements. These statements are based on our current expectations with respect to the future of our business, the economy and and other events and as a result are subject to risks and uncertainties. Many factors could cause actual results to differ materially from the forward looking statements made on this call. These factors include our ability to estimate operational expenses and liquidity needs, customer demand, supply chain delays, including launch providers and extended sales cycles. We also expect to discuss certain financial measures and information that are non GAAP measures as defined in the applicable SEC rules and regulations. Reconciliations to the Company’s GAAP measures are included in the management’s discussion and analysis of financial conditions and results of operations within Sidus Space Inc Quarterly report on Form 10Q for the period ended March 31, 2026. For more information about these risks and uncertainties, please refer to the risk factors in the Company’s filings with the securities and Exchange Commission, each of which can be found on our website www.sidusspace.com. listeners are cautioned not to put undue reliance on forward looking statements and the Company specifically disclaims any obligation to update the forward looking statements that may be discussed during this call. At this time I would like to turn the call over to Carol. Carol, please go ahead.
Carol Craig (Chairwoman and Chief Executive Officer)
Good evening and thank you for joining us. I want to start by saying that the first quarter of 2026 reflects continued progress as we translate several years of development into operational capabilities supporting both space and defense missions across multiple domains. Our team has remained focused on disciplined execution, advancing our next generation satellite builds, expanding our technology platforms and delivering on customer commitments. For those who may be new to our story, Sidus Space Inc was founded as an agile and vertically integrated company to deliver high quality, cost effective end to end space and defense solutions for multi domain operations integrating satellite design, manufacturing and on orbit operations with advanced computing and data capabilities. Over the past several years we have made disciplined investments in our technology stack, operating infrastructure and workforce to support our mission and strengthen our position as a provider of scaled space and defense technology capabilities and data driven solutions. We are now seeing those efforts materialize into tangible mission ready capabilities. Today, Sidus Space Inc is a proven U S based vertically integrated space and defense technology company delivering end to end satellite infrastructure, space and defense grade hardware and AI enabled data platforms from quarter to quarter. Our progress has been supported by continued momentum and expanding activity across the commercial space sector. Most recently the successful Artemis II mission with splashdown in April marked the first crewed flight beyond low earth orbit in more than 50 years and reinforced the viability of the CIS lunar economy where CITUS is well positioned.
Carol Craig (Chairwoman and Chief Executive Officer)
More broadly, there is sustained investment across commercial space, expanding national security priorities and a growing demand for space based data and resilient compute architectures which all align with the capabilities we have built. The market is seeing meaningful investor attention return to the commercial space sector including a much anticipated public listen of a major peer which could be the largest IPO in history. As a nimble small cap player, we benefit from this rising tide while focusing on specialized opportunities that complement larger players.
Carol Craig (Chairwoman and Chief Executive Officer)
The first quarter of 2026 saw record investment in the commercial space industry. This strategy is not theoretical. The strongest validation of our technology is not what we say, but what our systems are doing operationally. With multiple satellites on orbit, CITUS is progressing into a new phase where focus shifts from proving technical capabilities to executing and operating mission ready platforms for our customers. We successfully launched three LISASat satellites between March 2024 and March 2025, each one building upon the last and demonstrating increased capability across design, operations and mission performance.
Carol Craig (Chairwoman and Chief …
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