COLORADO SPRINGS, Colo. - Sidus Space, Inc. (NASDAQ: SIDU), a company specializing in Space and Data-as-a-Service, has entered into an additional agreement with HEO, a provider of non-Earth imaging (NEI) and data services. This new arrangement, announced at the Space Symposium, involves Sidus Space hosting HEO's NEI imager, HOLMES-006, on its LizzieSat-3 satellite, slated for a November 2024 launch.
This agreement builds on a previous collaboration, as HEO's HOLMES-004 will also be hosted on Sidus Space's LizzieSat-2, part of the same Bandwagon-2 launch. HEO's Holmes Imager is a telescopic space camera designed to capture images of resident space objects, such as satellites in orbit, providing valuable data on their identification, characteristics, and movements.
The partnership is set to increase the diversity of orbits covered, with the LizzieSats taking HEO's NEI sensors to mid-inclination low-Earth orbit for the first time. This expansion into new orbits is expected to enhance the quality of images and data collected.
Dr. Will Crowe, CEO and Co-Founder of HEO, expressed enthusiasm for the continued partnership with Sidus Space, highlighting the company's cutting-edge approach to spacecraft deployment. Carol Craig, CEO of Sidus, reciprocated the sentiment, emphasizing the strong partnership and shared goal of enhancing the space ecosystem.
Sidus Space, based in Cape Canaveral, Florida, operates a 35,000-square-foot facility dedicated to vertically integrated Space-as-a-Service solutions. The company's mission is to "Bring Space Down to Earth," aiming to provide space flight heritage for new technologies and deliver data and analytics to customers worldwide.
HEO, with headquarters in Australia and offices in the UK and USA, aims to proliferate NEI sensors across all Earth-Moon system orbits, offering on-demand imagery and spacecraft information through its platform, HEO Inspect.
The information in this article is based on a press release statement.
InvestingPro Insights
As Sidus Space, Inc. (NASDAQ: SIDU) forges ahead with its latest agreement to host HEO's NEI imager on its upcoming LizzieSat-3 satellite, investors are closely monitoring the company's financial metrics and market performance. Here are some key insights from InvestingPro that may be relevant to stakeholders interested in SIDU's prospects:
Despite a challenging market environment, analysts tracking SIDU are expecting sales growth in the current year. This optimism may be buoyed by the company's strategic partnerships, such as the one with HEO, which could potentially expand its revenue streams. However, it's important to note that SIDU has been quickly burning through cash, which is a critical factor for investors to consider, especially for a company in the capital-intensive space industry.
InvestingPro Data shows a market capitalization of 16.52 million USD for SIDU, indicating the company's size in the financial market. The price-to-earnings (P/E) ratio stands at -1.22 based on the last twelve months as of Q4 2023, reflecting the company's lack of profitability during this period. Additionally, the stock has experienced a significant return over the last week, with an 18.99% price total return, showcasing its high price volatility.
For investors seeking a more in-depth analysis of SIDU and other companies in the space sector, InvestingPro offers a range of additional tips and metrics. As of now, there are 15 more InvestingPro Tips available for SIDU, providing valuable insights into the company's financial health and market performance. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these comprehensive insights. The next earnings date is set for May 10, 2024, which will be a pivotal moment for investors to assess the company's financial trajectory and strategic direction.
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