Latest news with #AdarshParekh
Yahoo
01-08-2025
- Business
- Yahoo
Sidus Space, Inc. (SIDU) Announces Closing of Public Offering
Sidus Space, Inc. (NASDAQ:SIDU) is among the 10 Best Low Priced Defense Stocks to Buy Now, based on hedge fund sentiment. On July 29, the company announced the closing of its public offering of 7,143,000 shares of its Class A common stock. A satellite in the night sky, glimmering with the promise of aerospace exploration. Each share was sold at a public offering price of $1.05 for gross proceeds of around $7.5 million, before deducting offering expenses and the placement agent's fees. Sidus Space, Inc. (NASDAQ:SIDU) intends to use the net proceeds for operational costs, sales and marketing, product development, manufacturing expansion, working capital, and other corporate purposes. CEO Carol Craig said the offering, coupled with the recent launch of dual-use Fortis VPX product line with integrated AI/ML processing, positions the company well to focus on growth opportunities ahead. Adarsh Parekh, the firm's CFO, believes the additional capital will strengthen the company's liquidity and aid in strategy execution and high-growth initiatives. Sidus Space, Inc. (NASDAQ:SIDU) is engaged in the design, manufacture, launch, and data collection of satellites. It serves the aerospace, commercial space, and defense industries. While we acknowledge the potential of SIDU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Aerospace Stocks to Buy Now and 13 Best Global Stocks to Buy Right Now. Disclosure: None. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Broadcast Pro
31-07-2025
- Business
- Broadcast Pro
Sidus Space closes $7.5m public offering
The capital infusion is expected to enhance Sidus Spaces ability to scale its operations and support future growth. Sidus Space has officially closed its previously announced best-efforts public offering, raising approximately $7.5m through the sale of 7,143,000 shares of its Class A common stock. The shares were priced at $1.05 each, with all shares sold directly by the company. Gross proceeds were reported before the deduction of placement agent fees and other offering-related expenses. The company stated that the net proceeds will be allocated to several key areas, including sales and marketing, operational costs, product development, manufacturing expansion and general corporate purposes. The capital infusion is expected to enhance Sidus Spaces ability to scale its operations and support future growth. Carol Craig, Chief Executive Officer, Sidus Space, said: 'This offering, coupled with our recently announced launch of our dual-use Fortis VPX product line with integrated AI/ML processing, positions Sidus to focus on significant growth opportunities.' Adarsh Parekh, Chief Financial Officer, added: 'The additional capital bolsters our liquidity, allowing our team to fully focus on the execution of our strategy and high growth initiatives that we expect will drive real outcomes for our customers.' Investment banking firm ThinkEquity served as the sole placement agent for the offering.
Business Wire
29-07-2025
- Business
- Business Wire
Sidus Space Announces Closing of Public Offering
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (Nasdaq: SIDU) ("Sidus" or the "Company"), an innovative, agile space and defense technology company providing flexible, cost-effective solutions to government, defense, intelligence, and commercial companies around the globe, today announced the closing of its previously announced best-efforts public offering of 7,143,000 shares of its Class A common stock. Each share of Class A common stock was sold at a public offering price of $1.05 per share for gross proceeds of approximately $7.5 million, before deducting the placement agent's fees and offering expenses. All of the shares of common stock were offered by the Company. The Company intends to use the net proceeds from the offering for (i) sales and marketing, (ii) operational costs, (iii) product development, (iv) manufacturing expansion and (v) working capital and other general corporate purposes. 'This offering, coupled with our recently announced launch of our dual-use Fortis™ VPX product line with integrated AI/ML processing, positions Sidus to focus on significant growth opportunities.' said Carol Craig, the Company's Chief Executive Officer. Adarsh Parekh, Chief Financial Officer, added, 'The additional capital bolsters our liquidity, allowing our team to fully focus on the execution of our strategy and high growth initiatives that we expect will drive real outcomes for our customers.' ThinkEquity acted as sole placement agent for the offering. The securities were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-273430), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the 'SEC') on July 26, 2023 and declared effective on August 14, 2023. The offering was made by means of a written prospectus. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and made available on the SEC's website. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Sidus Space Sidus Space (NASDAQ: SIDU) is an innovative, agile space and defense technology company offering flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: 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 prospectus supplement and Annual Report on Form 10-K for the year ended December 31, 2024, 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.
Yahoo
16-05-2025
- Business
- Yahoo
Q1 2025 Sidus Space Inc Earnings Call
Adarsh Parekh; Chief Financial Officer; Sidus Sapce Inc Carol Craig; Chairwoman of the Board, Chief Executive Officer, Founder; Sidus Space Inc Operator Greetings. And welcome to the Sidus Space first-quarter 2025 results conference call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce Adarsh Parekh, Chief Financial Officer. Please go ahead. Adarsh Parekh Good evening, everyone. Thank you for joining us for Sidus Space's 2025 first-quarter earnings conference call. Joining us, today, from the company is Carol Craig, Chairman 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 current expectations and assumptions, 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. 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, Listeners are cautioned not to put any 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 Thank you, Adarsh. Welcome, everyone, to the first-quarter 2025 earnings call. On today's call, I'll outline our key accomplishments during Q1. And Adarsh will present the financial highlights. I'll, then, share our outlook for Q2 and beyond. The first quarter of 2025 marked another major step forward in Sidus Space's evolution toward becoming a vertically integrated, diverse, multi-domain solutions provider. While our current operations remain space-focused, we're preparing to scale our capabilities across air, sea and terrestrial environments powered by a new generation of rugged dual-use technologies that will redefine how missions are executed in challenging domains. Our mission has always been to deliver reliable, scalable, and intelligent solutions from initial design through full deployment. And our smart vertically integrated model, along with our innovative culture continues to be our strategic advantage. It allows us to innovate faster, control quality across the product life cycle and bring advanced technology to market more efficiently than traditional aerospace providers. In Q1, we celebrated a major achievement with the successful launch of LizzieSat-3 on March 14. This marks our third satellite and another step in building a fully operational, data-generating micro-constellation. We're currently completing satellite commissioning for LS-3 and successfully demonstrated operation of our advanced onboard edge computer FeatherEdge Gen 2. Additionally, we've successfully established communications to the first of our customer payloads. Once fully online, LS-3 will expand our ability to deliver near real-time earth observation data and onboard AI processing, unlocking a new revenue channel via data-as-a-service offerings to commercial and government users. This transition from development to commercialization is foundational to our 2025 growth strategy. One of our most exciting developments is the Orlaith AI Ecosystem, a modular pairing of our FeatherEdge hardware and our Cielo software. Orlaith is built for near real-time autonomous decision-making and can be configured for various mission types, from maritime situational awareness to orbital asset monitoring. Its AI/ML algorithms support in-orbit reconfiguration, enhance the anomaly detection and near real-time data processing, creating efficiencies and resilience in even the most extreme environments. This quarter marked the start of a strategic thought launch of several Sidus developed technologies designed for dual-use applications, systems engineered not only for space; but ruggedized for air, land and maritime environments. Our goal is to bring true multi-domain interoperability to market beginning in 2025, enabling customers to deploy integrated systems across platforms without the need for redesign or reengineering. A cornerstone of this rollout is the Sidus Single Board Computer, which is a SOSA-Aligned OpenVPX-based computer built for mission-critical environments, SSBC supports applications ranging from on-orbit to terrestrial command and control, including sensor fusion. In Q1, we focused on the launch and commissioning of LizzieSat-3, while laying the groundwork for this product rollout, which we expect to expand into defense and military markets in Q2. Early customer engagements have been positive with strong interest and encouraging feedback. Our pipeline continues to gain momentum underscoring the strategic relevance of these offerings. This roll-out supports our broader objective to diversify both our technology portfolio and addressable markets. As we scale production and enhance capabilities, we expect our command and control product line to be a key growth driver in the coming quarters, positioning Sidus as a leader in delivering integrated real-world multidomain solutions. The next phase in our multi-domain technology road map reflects our commitment to developing breakthrough innovations that not only meet existing requirements, but also open the door to entirely new market opportunities. Importantly, these advanced capabilities are being deployed not only on our proprietary LizzieSat platforms, but also on customer satellites, including those being developed for Lonestar Holdings. These efforts reinforce our three core pillars: Technology, AI and space by expanding our AI-driven solutions and mission-critical space services that address today's operational needs while anticipating tomorrow's challenges. We're actively bringing our VPX SOSA-Aligned space harbor into full production and commercial deployment and enabling scalable satellite and data architectures that meet the demands of both government and commercial customers. And further supporting this evolution is the advancement of our [indiscernible], a adaptable LizzieSat engineering model, which is a lab-based integration and test bed platform designed for next-generation technology demonstrations. LM provides a flexible environment to validate new systems, accelerate development cycles and derisk future mission configurations, which is vital for our long-term scale-up strategy. These innovations represent a key part of our 2025 road map and reflect our commitment to designing once deploying anywhere, accelerating mission readiness while reducing cost and complexity. Our work with LoneStar Holdings continued this quarter. We amended and extended our agreement, bringing the total potential contract value to $120 million. And while revenue recognition has not yet begun, this agreement provides strong visibility and underpins confidence in our commercial road map. Additionally, our platforms and products are being used on both Sidus owned and customer spacecraft extending our reach and opening doors to licensing and service revenue models. From a business development standpoint, we made meaningful strides. We deployed Orlaith in Asia, strengthening global AI and analytics reach. We deepened our partnership with Little Place Labs to enable near real-time maritime domain awareness via LizzieSat. And we signed an MOU with international partner, Reflex Aerospace to explore joint constellation services. Recently, we received a notice of allowance for our modular satellite testing platform, a patent that safeguards the intellectual property behind our adaptable and scalable satellite architecture. This milestone reinforces our vertically integrated model and preserves the flexibility needed to meet evolving mission demands. Our patent portfolio represents more than just innovation. It's a strategic asset that unlocks future licensing, protects differentiation and enhances customer confidence. In highly regulated markets, this IP framework is critical to accelerating commercial and defense adoption of our technologies. We believe that a well-established patent portfolio provides significant barriers to entry, ensuring we can protect our proprietary solutions, while enabling strategic partnerships, licensing opportunities and future product development. It also reinforces customer confidence, particularly in highly regulated or mission-critical industries where reliability, security and innovation are essential. Looking ahead, our focus remains on completing LS-3 commissioning, expanding commercialization of LizzieSat-enabled services and securing our first product orders across our VPX SOSA-Aligned systems. These efforts reflect the shift from technology development to revenue generation. We believe the groundwork late in Q1 positions Sidus to begin realizing material revenue growth in the second half of the year. We're also closely monitoring opportunities related to US manufacturing incentives and increased allied defense spending, particularly in Europe. These trends align well with our dual use strategy and ability to scale rugged multi-domain technologies from our U.S.-based facility. In summary, Sidus is entering the next phase of our journey. Our infrastructure is built, our products are in the market and our partnerships are advancing. We're not just enabling missions or reshaping how they're designed, deployed and executed across every domain. Now, I'll turn it over to Adarsh for final highlights. Adarsh Parekh Thank you, Carol. At Sidus, we continue to build a scalable, vertically integrated company across space, technology and artificial intelligence. Our focus remains on operational excellence, rapid innovation and delivering cost-effective, high-impact solutions for our customers. Our investments, to date, have centered around expanding our satellite constellation, advancing innovation and implementing a robust ERP system to support scale and profitability. As Carol has noted, 2024 was a foundational year for Sidus, one in which we validated our core technologies, grew our customer base and secured critical strategic partnerships. That momentum has carried into the first quarter of 2025, which reflects both our transition to commercialization and the near-term financial impacts of scaling a deep tech space-based enterprise. Let's review our first-quarter results. Total revenue for the 3 months ended March 31, 2025, was approximately $238,000, a decrease of $812,000 or 77% compared to Q1 2024 revenue of $1.05 million. This decrease was expected and primarily driven by the timing of fixed price milestone contracts, and our intentional shift away from legacy contract work to focus on commercial space-based and AI-driven solutions. Cost of revenue for Q1 2025 increased 93% to approximately $1.9 million compared to $966,000 in Q1 2024. Key drivers included satellite and software-related depreciation increase of $611,000, a mix of contract types with higher material and labor inputs and continued pressure from global supply chain costs in our manufacturing operations. Depreciation will continue to impact cost of revenue until we generate satellite and data-related revenues, which have higher margins to offset the related depreciation expense. Gross profit for Q1 2025 was a loss of $1.6 million compared to a profit of $84,000 in Q1 2024. This reflects increased depreciation, a shift in contract mix and reduced contribution from legacy high-margin services as we transition to higher value recurring revenue lines. Selling, general and administrative expenses totaled approximately $4.4 million, up from $3.6 million in the same period last year. This $800,000 increase was driven by increased headcount and associated benefits to support growth, equity-based compensation and employee bonus accruals, severance and rebooking fees related to launch schedule adjustments, debt payoff related expenses, and 24/7 mission operations expenses related to supporting multiple satellites on orbit. To provide investors with additional information in connection with our results as determined in accordance with GAAP, we also include in our 2025 Form 10-Q non-GAAP measures to determine our adjusted EBITDA. We use adjusted EBITDA to evaluate our operating performance and make strategic decisions about the company's future direction. Adjusted EBITDA loss, a non-GAAP measure, for the 3 months ended March 31, 2025, totaled $4.7 million as compared to an adjusted EBITDA loss of $2.7 million for the same period the prior year, which represents a 75% increase in the loss. Total non-GAAP adjustments for interest expense, depreciation and amortization, fundraising expenses, severance costs and equity-based compensation are provided in the reconciliation table listed in our first quarter 2025 earnings press release released earlier today. Net loss for the 3 months ended March 31, 2025 was $6.4 million compared to a net loss of $3.8 million in the same quarter of 2024. As discussed, the increase is attributable to depreciation, scaling costs and our shift to long-term higher-margin business models. Turning to the balance sheet. As of March 31, 2025, we had $11.7 million in cash compared to $6.2 million as of March 31, 2024. In Q1, we also fully paid off our loan with Decathlon Alpha 4 LP, a key milestone in strengthening our balance sheet and improving financial flexibility. As we move forward, we are managing cash conservatively while making strategic investments in our next-generation satellite builds and high-growth product lines. We are also actively pursuing further cost optimizations and operating efficiencies to support long-term profitability. With that, I'll hand the call back to Carol for closing remarks. Carol Craig Thank you, Adarsh. As you heard today, Sidus is in the midst of a pivotal shift from R&D and infrastructure build-out to commercialization and revenue generation. We've successfully launched and have begun commissioning our third satellite, laid the foundation for scalable micro-constellation and introduced a new generation of rugged dual-use technologies. While Q1 reflects the near-term financial impact of that transformation, we are confident in our long-term trajectory. We've strengthened our balance sheet, launched high-potential new platforms like Orlaith and are poised to generate revenue from diversified initiatives in the second half of the year. The path we've chosen is ambitious, but it's the right one for unlocking meaningful sustainable growth. Most importantly, I want to thank our employees, our partners, and our shareholders for your continued trust and support. We look forward to delivering strong progress in the months ahead. Operator Thank you. This does conclude today's teleconference. We thank you for your participation. You may now disconnect your lines. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
