- Laurence Russell
Sidus Space enters pivotal year building on a strong foundation of achievements in 2022
Sidus Space, Inc., a Space-as-a-Service company focused on mission-critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, is pleased to release a letter to shareholders from its Founder and Chief Executive Officer, Carol Craig, reflecting on its first year as a publicly traded company.
Strengthening its position as an end-to-end full stack solutions provider for the $1 trillion space economy, while accelerating the implementation of its Space-as-a-Service strategy throughout the year, Sidus continued to expand products and services to customers globally. Year-over-year revenue growth and gross profit in the first nine months of 2022 was more than 450% and 821%, respectively, as compared to the first nine months of 2021.
The Company’s many achievements lay the groundwork for a transformational 2023. Among its accomplishments were:
Expanding Mission-Critical Hardware Manufacturing Business including being selected as a subcontractor to Collins Aerospace in its award of part of the $3.5 billion Exploration Extravehicular Activity (xEVAS) contract, expanding our relationship with Parsons and Teledyne Marine, and more.
Our manufacturing segment generated $4.27 million in new purchase orders during 2022. Sidus began its business in the manufacturing segment and, today, it remains an important revenue stream that defines our Space-as-a-Service offering, rounding out our vertically integrated capabilities.
New Contracts, Partnerships, and MOUs Propel Space-as-a-Service Offerings including integration of technologies and payloads onto LizzieSat™.
Preparation for Pivotal LizzieSat-1 Launch including executing on agreements for key systems launch agreements and in-orbit technologies in pursuit of developing a consistent launch cadence moving forward that enables us to meet the robust demand for our services.
Accelerating International Expansion including announcing plans to open a new office in the Netherlands and partnerships with GTM Advanced Structures and Dawn Aerospace, along with sharing capabilities and hosting international delegations to highlight our emerging capabilities.
“The foundational progress made in 2022 is aligned with our strategic roadmap for growth and, building on these powerful achievements, I believe our team has positioned Sidus Space for a transformational 2023,” said Carol Craig, Founder and CEO of Sidus Space. “We remain committed to prioritizing progress toward profitability and creating value for our shareholders as we continue to scale up to meet increasing demand.”