Sidus Space, Inc. Q2 FY2025 earnings call

• Orbital satellite progress: Completed commissioning of the ADCS system on LizzieSat-3 with machine learning-powered onboard GNC software, successful launch of LizzieSat-3 on March 14, and updates on LizzieSat-1 and LizzieSat-2. - Capital raise: Successfully executed a capital raise to fund key technology initiatives, with proceeds deployed towards accelerated commercialization of dual-use multi-domain products, scaling the LizzieSat constellation, and expanding development of the proprietary Orlaith AI ecosystem. - Product line: Fortis VPX product line for aerospace, defense, energy, robotics and autonomous systems with 3 scalable tiers (Solo, Flex, Maxima). - Patent portfolio: Currently has approximately 28 patents approved or pending, including a notice of allowance for the modular satellite testing platform. - Lunar business: Advancing into lunar satellites leveraging the LizzieSat reference design, with enhanced radios, greater power capacity and high delta-v propulsion.

For the 6 months ended June 30, 2025, total revenue was approximately $1.5 million compared to $2.0 million in the same period in 2024, a decrease of $478,000 or 24%. Cost of revenue rose to approximately $4.2 million, a 52% increase from $2.7 million in the first half of 2024. Gross profit was a loss of $2.7 million compared to a loss of $757,000 in the same period last year. For the 3 months ended June 30, 2025, total revenue reached $1.3 million, a 36% increase compared to $928,000 in Q2 2024. Cost of revenue for the quarter rose to $2.3 million, up 29% from the prior year. Gross profit was a loss of $1 million compared to a loss of about $841,000 in Q2 2024. Adjusted EBITDA for the first half of 2025 was $8.6 million compared to $5.9 million in the same period last year. Adjusted EBITDA loss for Q2 2025 was $3.9 million, a 24% increase over Q2 2024. Net loss for the quarter was $5.6 million compared to $4.1 million in the prior year.

• Priorities: Complete LS-3 commissioning, expand commercialization of LizzieSat-enabled services and secure product orders for VPX SOSA-Aligned systems. - Opportunities: Tracking opportunities driven by U.S. manufacturing incentives and rising allied defense spending, particularly in Europe. - Lunar business: Designing and delivering versatile lunar satellite bus to serve multiple customers and mission profiles.

• Factors could cause actual results to differ materially from forward-looking statements, including ability to estimate operational expenses and liquidity needs, customer demand, supply chain delays (including launch providers) and extended sales cycles.

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