Sidus Space Inc. reported a significant decline in financial performance for the fiscal year ending December 31, 2025, with total revenue of $3.38 million, a decrease of approximately 28% from $4.67 million in 2024. The company attributed this decline primarily to a reduction in non-related party revenue, which fell by 54% to about $1.8 million, largely due to the timing of fixed-price milestone contracts. In contrast, revenue from related parties increased by 101% to approximately $1.6 million, driven by a rise in contracts secured by its related party, Craig Technologies. The company's cost of revenue also rose sharply, increasing by 48% to $9.08 million, leading to a gross loss of $5.69 million compared to a loss of $1.47 million in the previous year.
Operating expenses surged by 57% to $22.32 million, influenced by increased labor costs, higher fringe benefits, and ongoing investments in technology and mission operations. The net loss for the year was $29.47 million, a 68% increase from the $17.52 million loss reported in 2024. This substantial loss reflects the company's ongoing challenges in achieving profitability while ramping up its satellite manufacturing and launch capabilities.
Strategically, Sidus Space has made notable advancements, including the successful launch of its LizzieSat satellites and the introduction of its Orlaith AI Ecosystem, which integrates advanced computing capabilities for on-orbit data processing. The company has also expanded its partnerships, including a memorandum of understanding with Saturn Satellite Networks for the development of a next-generation GEO satellite platform. As of December 31, 2025, Sidus employed 99 full-time staff, reflecting its commitment to scaling operations in response to growing demand in the space and defense sectors.
Looking ahead, Sidus Space's management expressed optimism about future growth, contingent on the successful execution of its business strategy, including increased satellite production and launch activities. However, the company acknowledged the need for substantial additional capital to fund ongoing operations and expansion efforts. As of the end of 2025, Sidus reported a working capital surplus of approximately $35.67 million, bolstered by recent capital raises totaling over $53 million, which will be critical in supporting its operational and strategic initiatives moving forward.
About Sidus Space Inc.
Sidus Space is a space mission enabler specializing in satellite design, manufacturing, and space-based data solutions. Its core offerings include modular satellites, AI-driven data analytics, mission management, and space manufacturing for government and commercial clients. With proprietary technologies and a vertically integrated model, the company provides cost-effective, flexible space solutions, supporting diverse missions from Earth observation to lunar applications.
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