Reported Earlier, Sidus Space Looks Toward 2024 Launch; CEO Carol Craig Says "Our Focus For 2024 Remains On Delivering Unique And Unparalleled Solutions For Our Customers, Testing Cutting-Edge Technologies In Space"

Sidus Space Inc. -9.14%

Sidus Space Inc.

SIDU

3.38

-9.14%

Sidus Space Achieves Milestone Success in 2023: A Year of Innovation and Progress

Sidus Space (NASDAQ:SIDU) (the "Company" or "Sidus"), a multi-faceted Space and Data-as-a-Service company, concludes 2023 with remarkable achievements, laying the groundwork for an eagerly anticipated launch in Q1 2024.

2023: A Pivotal Year for Sidus Space

"2023 was a pivotal year for Sidus Space. We accomplished significant milestones, preparing for the launch of LizzieSat™, a testament to our commitment to advancing satellite data technology. Our achievements included expanding our services, securing new customers, enhancing our technology and completing the required testing for launch on SpaceX Transporter-10. As we look forward to the upcoming launch, our focus for 2024 remains on delivering unique and unparalleled solutions for our customers, testing cutting-edge technologies in space, and aligning our services to the evolving needs of a dynamic space economy," said Carol Craig, CEO and Founder of Sidus Space.

Preparation for Launch

  • Successful completion of required environmental testing of LizzieSat ahead of its upcoming launch on SpaceX's Transporter-10 mission planned for March
  • Successful integration testing of command-and-control systems between Sidus Mission Control Center (MCC), Florida, KSAT Earth Stations worldwide, and LizzieSat's onboard radios and command and control systems
  • Successful testing of onboard Artificial Intelligence (AI) computing capability for immediate, high-value data consumption by customers

New Contracts, Partnerships, and MOUs

  • Awarded multiple new contracts, partnerships and MOUs, serving the needs of low-Earth orbit customers, including: CACI, HEO (USA), LuLav, Maris-Tech, NASA Astra, Parsons, and SkyServe
  • Expanded Mission-Critical Hardware Manufacturing with contracts supporting Airbus OneWeb Satellites, NASA Mobile Launcher 2 program, and the US Navy Propulsion Program
  • Chosen as a Mentor/Protégé with L3 Harris

Advancing Technology

  • Expanded the Company's capabilities and offerings through acquisition of Exo-Space, a California-based firm specializing in Edge Artificial Intelligence (AI) software and hardware for space applications
  • Executed Agreement with SkyWatch for the use of its TerraStream platform to manage, monetize and distribute space-based data

2024: A Year of Expected Growth

  • LizzieSat™ launch expected to be a catalyst for high margin revenue growth
  • Expanded focus on LEO and Lunar opportunities and partnerships
  • Expected increase in annualized revenue from subscription customers with existing and future data customer base
  • Additional satellite launches with new customers and technologies

"As we bid farewell to 2023, our sights are firmly set on the imminent launch of LizzieSat in 2024. We've successfully achieved critical milestones and secured vital revenue-generating contracts with key customers. The foundation is laid, and our robust customer base eagerly awaits the delivery of our AI-enhanced space data, poised to redefine the landscape for Sidus and the broader industry," said Carol Craig, CEO and Founder of Sidus Space.

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