Sidus Space reports Q1 revenue growth amid ongoing losses

Sidus Space Inc. (NASDAQ: SIDU) reported first-quarter 2026 revenue of $359,000, representing a 51% increase from $238,000 in the same period last year. The space and defense technology company announced the results on May 14.

Despite the revenue growth, Sidus Space posted a net loss of $5.2 million for the quarter, an improvement from the $6.4 million loss recorded in Q1 2025. The company's gross loss narrowed to $1.1 million from $1.6 million in the prior year period, reflecting a 36% improvement.

Cost of revenue decreased 25% to $1.4 million from $1.9 million year-over-year, which the company attributed to lower depreciation and improved manufacturing cost discipline. Selling, general and administrative expenses remained flat at $4.4 million.

The company's adjusted EBITDA loss was $4.6 million, compared to a $4.7 million loss in Q1 2025. Sidus Space held $27.3 million in cash as of March 31, 2026, with no outstanding term debt.

During the quarter, the company delivered initial imagery from HEO USA's camera aboard its LizzieSat-3 satellite and expanded its agreement with Lonestar Data Holdings to build an additional orbital data storage payload. Sidus Space also achieved an integration milestone with Maris-Tech Ltd. for an AI-based edge computing payload scheduled to launch aboard LizzieSat-4.

Subsequent to the quarter end, the company completed a registered direct offering on April 21, 2026, generating gross proceeds of $58.5 million. The company also announced a planned chief financial officer transition, with current CFO expected to depart effective June 1, 2026.

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