Sidus Space Inc. Q1 FY2025 earnings call

• First quarter 2025 marked progress toward becoming a vertically integrated, multi-domain service provider; current focus is space, with preparation to scale across air, sea, terrestrial. • Successful launch of LizzieSat-3 on March 14th, third satellite, advancing micro constellation; commissioning LS3 and demonstrated FeatherEdge Gen 2. • Introduced Sidus Orlaith AI ecosystem, modular pairing of FeatherEdge hardware and Cielo software, for near real-time autonomous decision-making. • Started soft launch of dual-use technologies, including Sidus single board computer, for multi-domain interoperability. • Amended and extended agreement with Lone Star Holdings, potential contract value to $120 million. • Deployed Orlaith in Asia, deepened partnership with Little Place Labs, signed MOU with Reflex Aerospace; received notice of allowance for modular satellite testing platform patent.

Total revenue for the three months ended March 31, 2025, was approximately $238,000, a decrease of $812,000, or 77%, compared to Q1 2024 revenue of $1.05 million. Cost of revenue for Q1 2025 increased 93% to approximately $1.9 million, compared to $966,000 in Q1 2024. Gross profit for Q1 2025 was a loss of $1.6 million, compared to a profit of $84,000 in Q1 2024. Selling, general, and administrative expenses totaled approximately $4.4 million, up from $3.6 million in the same period last year. Adjusted EBITDA loss for the three months ended March 31, 2025, totaled $4.7 million, compared to an adjusted EBITDA loss of $2.7 million in the prior year. Net loss for Q1 2025 was $6.4 million, compared to $3.8 million in Q1 2024. As of March 31, 2025, cash was $11.7 million, up from $6.2 million as of March 31, 2024.

• Focus on completing LS3 commissioning and expanding commercialization of LizzieSat-enabled services. • Aim to secure first product orders across VPX SOSA-Aligned systems. • Monitor opportunities related to U.S. manufacturing incentives and increased allied defense spending, particularly in Europe. • Believe groundwork laid in Q1 positions Sidus to begin material revenue growth in the second half of 2025.

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