| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Sidus Space, Inc. (NASDAQ:SIDU) reported its second-quarter financial results Monday after the closing bell. Here's a look at the details from the report.
The Details: Sidus Space reported quarterly losses of 99 cents per share and $927,570 in revenue for the second quarter. Gross profit margin decreased to negative 91% compared to 37% in the same period last year. The company said the decrease was mainly due to lower satellite-related revenue versus prior year due in large part to the timing of satellite-related payments and fixed price milestone contracts in the first half of 2024 and higher costs related to the depreciation of its first satellite asset.
Read Next: What’s Going On With Cannabis Grower Tilray’s Stock?
“During the second quarter of 2024, we achieved a major milestone with the successful commissioning of our first LizzieSat™ (LS-1) which was launched on the SpaceX Transporter-10 Rideshare Mission in March. Following this critical phase, we began activating payloads and accomplished the primary objectives of several LS-1 missions,” said Carol Craig, CEO of Sidus Space.
Sidus Space shares climbed nearly 45% over heavy trading volume during Monday's regular session as investors anticipated the earnings release.
SIDU Price Action: According to Benzinga Pro, Sidus Space shares are down 6.82% at $3.55 after-hours Monday.
Read Also:
Photo: Courtesy of Sidus Space, Inc.
Posted In: SIDU
