The following is a summary of the Sidus Space, Inc. (SIDU) Q4 2023 Earnings Call Transcript:
Financial Performance:
Sidus reported annual revenue of $6 million, a decrease due to the timing of fixed price milestone contracts and satellite payload revenue.
Cost of revenue decreased by 26%, while gross profit increased by 14%, reflecting a rise in gross profit margin from 20% to 28%.
Net loss for the year stood at $14.3 million, compared to the previous year's loss of $12.8 million.
Business Progress:
Sidus launched its first LizzieSat and is anticipating launching two more satellites within the year.
The company expanded its product line with the acquisition of Exo-Space and is tapping diverse industries for revenue streams.
The LizzieSat platform allows for rapid technology integration, and with advanced analytics and enhanced on-board computing speed, the company is positioning itself for future growth.
More details: Sidus Space IR
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