Sidus Space (SIDU) Q1 2026 earnings summary

Executive summary

• Achieved 51% year-over-year revenue growth in Q1 2026, driven by new customer contracts and milestone-based revenue, while advancing satellite technology and transitioning to commercialization.

• Delivered high-resolution imagery from LizzieSat-3, advanced next-generation satellite configurations, and expanded partnerships and payload integration, including agreements with Lonestar Data Holdings and Maris-Tech.

• Maintained disciplined capital deployment, leveraging internal development and targeted acquisitions to build a vertically integrated technology stack.

• Strengthened governance with new board appointment and announced a CFO transition effective June 1, 2026.

• Continued investment in AI-enabled technologies, mission operations, and hardware manufacturing for commercial and government clients.

Financial highlights

• Revenue for Q1 2026 was $359,372, up 51% year-over-year from $238,000, driven by new contracts; cost of revenue decreased 25% to $1.4 million.

• Gross loss improved 36% to $1.1 million from $1.6 million year-over-year; adjusted gross loss (excluding depreciation) was $531,000, down from $792,000.

• Net loss for Q1 2026 was $5.2 million, a 19% improvement from $6.4 million in Q1 2025.

• Adjusted EBITDA loss was $4.6 million, nearly flat year-over-year.

• Cash balance at March 31, 2026 was $27.3 million, with no outstanding term debt after full repayment of asset-backed line of credit.

Outlook and guidance

• Focus remains on scaling next-generation satellite builds, high-growth product lines, and responsible capital allocation.

• Several satellites in production with 2–3 launches planned over the next three years.

• Recent capital raise enables pursuit of larger contracts, accelerated product development, and expanded customer pipeline.

• Ongoing search for a permanent CFO following the announced transition.

• Emphasis on translating platforms into recurring revenue and durable margins.