- Sidus Space Inc (NASDAQ:SIDU) reported a fourth-quarter revenue increase of ~95% year-over-year to $0.52 million.
- FY21 revenue decreased by 22% Y/Y to $1.41 million, and EPS was $0.34 compared to $(0.15) in FY20.
- Loss from operations increased to $(1.6) million for the quarter versus $363.4 thousand in 4Q20.
- Net loss was $(2.43) million in Q4 compared to a net loss of $364.6 thousand during the same period in 2020.
- The increase in loss was due to the expansion of staff and costs associated with the Company’s initial public offering in December of 2021.
- Sidus Space’s cash position was $13.71 million at the end of the year.
- “We hired key personnel, established strong partnerships, added customers, and began manufacturing our own satellites - readying for launch later this year. We are confident in our ability to deliver premier data and products to our customers and strong results to our investors. We believe the standards of excellence and the foundation we built in 2021 will result in significant customer and partnership growth in 2022,” commented Carol Craig, Founder, and CEO of Sidus Space.
- Price Action: SIDU shares are trading higher by 2.54% at $3.23 during the post-market session on Tuesday.
