Sidus Space Inc (NASDAQ:SIDU) reported its first-quarter financial results late Thursday, revealing year-over-year revenue growth and an improved bottom line. Despite these metrics, the stock is trading lower Friday morning.
- Sidus Space shares are sliding. What’s weighing on SIDU shares?
Operational Milestones And Updates
For the quarter ending March 31, Sidus posted a net loss of $5.2 million, a 19% improvement from last year. Earnings per share registered at a loss of 8 cents, up from a 35 cent loss in the first quarter of 2025. The company generated over $359,000 in sales, a 51% increase driven by new customer contracts. Gross loss improved by 36% to $1.1 million.
Operationally, Sidus highlighted the successful delivery of initial imagery from LizzieSat-3. The company expanded its agreement with Lonestar Data Holdings for an additional orbital data storage payload. Furthermore, a CFO transition is planned for June 1, 2026, with John Burke appointed as the interim chief financial officer while the company conducts a comprehensive search.
Following a registered direct offering in April, Sidus bolstered its liquidity , having already ended the first quarter with $27.3 million in cash and no outstanding term debt.
SIDU Shares Slide Friday Morning
SIDU Price Action: Sidus Space shares were down 9.02% at $3.33 during pre-market trading on Friday, according to Benzinga Pro data.
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