CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a multi-faceted Space and Data-as-a-Service company, concludes 2023 with remarkable achievements, laying the groundwork for an eagerly anticipated launch in Q1 2024.
2023: A Pivotal Year for Sidus Space
"2023 was a pivotal year for Sidus Space. We accomplished significant milestones, preparing for the launch of LizzieSat™, a testament to our commitment to advancing satellite data technology. Our achievements included expanding our services, securing new customers, enhancing our technology and completing the required testing for launch on SpaceX Transporter-10. As we look forward to the upcoming launch, our focus for 2024 remains on delivering unique and unparalleled solutions for our customers, testing cutting-edge technologies in space, and aligning our services to the evolving needs of a dynamic space economy," said Carol Craig, CEO and Founder of Sidus Space.
Preparation for Launch
- Successful completion of required environmental testing of LizzieSat ahead of its upcoming launch on SpaceX’s Transporter-10 mission planned for March
- Successful integration testing of command-and-control systems between Sidus Mission Control Center (MCC), Florida, KSAT Earth Stations worldwide, and LizzieSat’s onboard radios and command and control systems
- Successful testing of onboard Artificial Intelligence (AI) computing capability for immediate, high-value data consumption by customers
New Contracts, Partnerships, and MOUs
- Awarded multiple new contracts, partnerships and MOUs, serving the needs of low-Earth orbit customers, including: CACI, HEO (USA), LuLav, Maris-Tech, NASA Astra, Parsons, and SkyServe
- Expanded Mission-Critical Hardware Manufacturing with contracts supporting Airbus OneWeb Satellites, NASA Mobile Launcher 2 program, and the US Navy Propulsion Program
- Chosen as a Mentor/Protégé with L3 Harris
Advancing Technology
- Expanded the Company’s capabilities and offerings through acquisition of Exo-Space, a California-based firm specializing in Edge Artificial Intelligence (AI) software and hardware for space applications
- Executed Agreement with SkyWatch for the use of its TerraStream platform to manage, monetize and distribute space-based data
2024: A Year of Expected Growth
- LizzieSat™ launch expected to be a catalyst for high margin revenue growth
- Expanded focus on LEO and Lunar opportunities and partnerships
- Expected increase in annualized revenue from subscription customers with existing and future data customer base
- Additional satellite launches with new customers and technologies
"As we bid farewell to 2023, our sights are firmly set on the imminent launch of LizzieSat in 2024. We've successfully achieved critical milestones and secured vital revenue-generating contracts with key customers. The foundation is laid, and our robust customer base eagerly awaits the delivery of our AI-enhanced space data, poised to redefine the landscape for Sidus and the broader industry," said Carol Craig, CEO and Founder of Sidus Space.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a Space and Data-as-a-Service satellite company focused on mission-critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support. The Company is located in Cape Canaveral, Florida, where it operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support.
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 Space 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, 2022, 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.
