Sidus Space Q2 gross margin surges to 37% from 19% YoY; satellite revenue +126%

Sidus Space Inc.

2023-Q2 EPS reported -$0.17 vs consensus -$6.12 ▲ beat (+97.2%)

Total revenue $1.4M, down from $1.8M YoY, due to timing of fixed-price milestone contracts.
Gross profit $508K (37% margin), versus $347K (19%) YoY, driven by higher-margin satellite mix.
Operating expenses $3.6M, up from $2.7M YoY, reflecting staff expansion for growth.
Cash and cash equivalents $7.9M as of June 30, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

Sidus Space Inc. reported the second quarter ended June 30, 2023 results: revenue $1.4 million.

Period: the second quarter ended June 30, 2023
Revenue: $1.4 million
Result: reported results

Exact text from the filing

a high-margin, rapidly-scalable, recurring-revenue business model,” continued Craig. Financial Highlights for the Quarter Ending June 30, 2023 ● Sidus reported revenue of 1.4 million for the quarter ended June 30, 2023, compared to $1.8 million for the same period in 2022. While revenue declined period-over-period, primarily due to timing of fixed price

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Source: SEC EDGAR

accession 0001493152-23-028532

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