Sidus Space Inc. Q3 FY2024 earnings call

• Sidus Space is a space mission enabler providing solutions like custom satellite design, technology integration, etc. - LizzieSat platform achieved first launch success in March 2024, offers mission options and has technical flexibility. - FeatherEdge AI system analyzes data on orbit, allows quick integration of commercial processors and post-launch algorithm updates. - Recent accomplishments: 90% y-o-y revenue increase, ASTRA mission success with follow-on contract, contracts with Xiomas Technologies and U.S. Navy, LizzieSat-NL critical design review, selected by Lonestar Data Holdings for lunar satellites, FCC approval for LizzieSat-2-5, LizzieSat-2 ready for launch, LizzieSat-3 scheduled for Q1 2025, planned upgrade to LizzieSat communication system, development of advanced high-speed switch card.

Total revenue for the three months ended September 30, 2024 was approximately $1.9 million, an increase of approximately 900,000 or 90% compared to the three months ended September 30, 2023. This increase was primarily driven by satellite-related revenue and the timing of fixed price milestone contracts. Cost of revenue increased 69% for the three months ended September 30, 2024 to approximately $1.8 million compared to $1.1 million for the same period in 2023. Gross profit for the quarter ended September 30, 2024 increased 140% to approximately $38,000 compared to a loss of approximately $96,000 in 2023. Gross profit margin was 2% for the third quarter of 2024 as compared to a negative 10% in 2023.

• Anticipate continued growth in pipeline and backlog with increased revenue recognition as constellation expands. - Have signed subscription-based data-as-a-service contracts for upcoming satellites and expect additional data contracts over satellite life. - On-orbit expansion and LizzieSat strategic upgrades position Sidus to expand capabilities and drive continued growth.

• Ability to estimate operational expenses and liquidity needs. - Customer demand. - Supply chain delays including launch providers. - Extended sales cycles.