Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company
focused on mission-critical hardware manufacturing combined with
commercial satellite design, manufacture, launch, and data
collection, is pleased to release a letter to shareholders from its
Founder and Chief Executive Officer, Carol Craig, reflecting on its
first year as a publicly traded company.
Strengthening its position as an end-to-end full stack solutions
provider for the $1 trillion space economy, while accelerating the
implementation of its Space-as-a-Service strategy throughout the
year, Sidus continued to expand products and services to customers
globally. Year-over-year revenue growth and gross profit in the
first nine months of 2022 was more than 450% and 821%,
respectively, as compared to the first nine months of 2021.
The Company’s many achievements lay the groundwork for a
transformational 2023. Among its accomplishments were:
Expanding Mission-Critical Hardware Manufacturing
Business including being selected as a subcontractor to Collins
Aerospace in its award of part of the $3.5 billion Exploration
Extravehicular Activity (xEVAS) contract, expanding our
relationship with Parsons and Teledyne Marine, and more.
Our manufacturing segment generated $4.27 million in new
purchase orders during 2022. Sidus began its business in the
manufacturing segment and, today, it remains an important revenue
stream that defines our Space-as-a-Service offering, rounding out
our vertically integrated capabilities.
New Contracts, Partnerships, and MOUs Propel
Space-as-a-Service Offerings including integration of
technologies and payloads onto LizzieSat™.
Preparation for Pivotal LizzieSat-1 Launch including
executing on agreements for key systems launch agreements and
in-orbit technologies in pursuit of developing a consistent launch
cadence moving forward that enables us to meet the robust demand
for our services.
Accelerating International Expansion including announcing
plans to open a new office in the Netherlands and partnerships with
GTM Advanced Structures and Dawn Aerospace, along with sharing
capabilities and hosting international delegations to highlight our
emerging capabilities.
“The foundational progress made in 2022 is aligned with our
strategic roadmap for growth and, building on these powerful
achievements, I believe our team has positioned Sidus Space for a
transformational 2023,” said Carol Craig, Founder and CEO of Sidus
Space. “We remain committed to prioritizing progress toward
profitability and creating value for our shareholders as we
continue to scale up to meet increasing demand.”
About Sidus Space
Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida,
operates from a 35,000-square-foot manufacturing, assembly,
integration, and testing facility focused on commercial satellite
design, manufacture, launch, and data collection. The company’s
rich heritage includes the design and manufacture of many flight
and ground component parts and systems for various space-related
customers and programs. Sidus Space has a broad range of
Space-As-a-Service offerings including space-rated hardware
manufacturing, design engineering, satellite manufacturing and
platform development, launch and support services, data analytics
services and satellite constellation management.
Sidus Space has a mission of Bringing Space Down to Earth™ and a
vision of enabling space flight heritage status for new
technologies while delivering data and predictive analytics to
domestic and global customers. Any corporation, industry, or
vertical can start their journey off-planet with Sidus Space’s
rapidly scalable, low-cost satellite services, space-based
solutions, and testing alternatives. More than just a
“Satellite-as-a-Service” provider, Sidus Space is a trusted Mission
Partner–from concept to Low Earth Orbit and beyond. Sidus is ISO
9001:2015, AS9100 Rev. D certified, and ITAR registered.
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, 2021, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230105005615/en/
Investor Relations Dave Gentry RedChip Companies Inc.
SIDU@redchip.com 1-800-RED-CHIP (733-2447) Or 407-491-4498
Heather Crowell Executive Vice President Gregory FCA
heather@gregoryfca.com
Media Contact Katie Kennedy Senior Vice President Gregory
FCA katiek@gregoryfca.com 1-610-731-1045
www.sidusspace.com
Sidus Space (NASDAQ:SIDU)
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