Sidus Space (SIDU) Q2 2026 earnings summary

Executive summary

• Raised $158.5 million in Q2 2026 through equity offerings, with $146.2 million in net proceeds, significantly strengthening liquidity, eliminating all outstanding debt, and enabling strategic investments and satellite expansion.

• Transitioned from technology validation to scaling commercial applications, focusing on customer adoption, recurring revenue, and operating leverage.

• Completed environmental and launch qualification for LizzieSat, which will debut the Fortis VPX Maxima platform and enable on-board AI inference.

• Expanded international presence, strategic partnerships, and customer pipeline, with increased demand for dual-use, SOSA-aligned hardware.

• Appointed Alan Khalili as CFO and expanded the board with experienced aerospace leadership.

Financial highlights

• Six-month revenue was $942,468, down 37% year-over-year; Q2 revenue was $583,096, down 54% from Q2 2025.

• Gross loss improved to $1.68 million for the first half (from $2.7 million) and $629,723 for Q2 (from $1 million), driven by lower depreciation and contract costs.

• Net loss for the first half was $9.99 million, a 17% improvement; Q2 net loss was $4.78 million, a 15% improvement.

• Adjusted EBITDA loss was $9.7 million for the first half and $5.1 million for Q2, reflecting higher operating expenses.

• Cash balance at June 30, 2026, was $166.5 million, with no outstanding borrowings or term debt.

Outlook and guidance

• Anticipates initial full commercial availability of Fortis VPX in early 2027, pending integration and customer qualifications.

• Focused on converting technology into contracts and recurring revenue, with disciplined capital allocation and margin expansion.

• Plans to expand manufacturing, accelerate satellite production, and invest in business development and personnel.

• Strong cash position expected to fund operations and capital expenditures.