Sidus Space Inc. reported a significant decline in financial performance for the third quarter of 2025, with total revenue of $1.3 million, down 31% from $1.9 million in the same period last year. The decrease was primarily attributed to a 68% drop in non-related party revenue, which fell to approximately $559,000, while related party revenue surged by 562% to approximately $739,000. The company's cost of revenue also increased by 42% to $2.6 million, leading to a gross loss of approximately $1.3 million, compared to a gross profit of $38,171 in Q3 2024.
For the nine months ending September 30, 2025, Sidus Space reported total revenue of $2.8 million, a 27% decrease from $3.8 million in the same period of 2024. The cost of revenue rose by 48% to $6.8 million, resulting in a gross loss of approximately $3.9 million, compared to a loss of $718,866 in the prior year. The company's net loss for the nine-month period was $18.1 million, a 53% increase from the $11.8 million loss reported in 2024.
Strategically, Sidus Space has made notable advancements, including the successful launch of three LizzieSat® satellites and the establishment of a fully operational mission control center. The company has also received FCC approval for operating a micro constellation of remote sensing satellites and has signed contracts valued at $120 million for lunar fleet design and construction. These developments reflect the company's commitment to innovation and expansion in the space technology sector.
Operationally, Sidus Space has increased its employee headcount to support its growing business needs, contributing to a rise in selling, general, and administrative expenses, which totaled $13 million for the nine months ended September 30, 2025, up 32% from the previous year. The company is also focusing on enhancing its manufacturing capabilities and expanding its customer base, particularly in the defense and commercial sectors.
Looking ahead, Sidus Space aims to leverage its vertically integrated model to enhance its satellite manufacturing and data services. The company plans to launch additional LizzieSat® satellites and expand its international partnerships, positioning itself to capitalize on the growing demand for space-based data and services. However, the company acknowledges the challenges posed by market conditions and the need for continued capital investment to support its operations and growth initiatives.
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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