Demonstrates On-Orbit Execution, Improves Financial Performance, and Advances Flight Ready Technology Portfolio

CAPE CANAVERAL, Fla., May 14, 2026 /PRNewswire/ -- Sidus Space, Inc. $(SIDU)$, (the "Company" or "Sidus"), an innovative space and defense technology company, today announced its financial results for the first quarter ended March 31, 2026, and provided a business update highlighting continued on-orbit execution, progress across customer payloads and disciplined financial management.

The Company will host a conference call and webcast today, Thursday, May 14, at 5:00 p.m. Eastern Time.

"During the first quarter, we continued to execute our technical roadmap while maintaining disciplined cost control," said Carol Craig, Founder and Chief Executive Officer of Sidus Space. "We delivered high-resolution imagery from LizzieSat-3, advanced customer payload commissioning, and finalized flight ready configurations for next generation systems planned for LizzieSat-4 and LizzieSat-5. These milestones strengthen our on-orbit heritage and position Sidus to support future missions while remaining focused on responsible capital allocation and operational execution."

Operational Highlights for the Quarter Ending March 31, 2026:

   -- Delivered initial imagery from HEO USA's non-Earth imaging camera aboard 
      LizzieSat-3, including sub 5-meter resolution imagery, as part of ongoing 
      payload commissioning and an important step along the path toward 
      initiating subscription-based data service delivery following completion 
      of commissioning 
 
   -- Expanded agreement with Lonestar Data Holdings to build an additional 
      StarVault orbital data storage payload 
 
   -- Achieved integration milestone with Maris-Tech Ltd. $(MTEK)$ on its 
      AI-based edge computing payload, scheduled to launch aboard LizzieSat -4 
 
   -- Signed a Memorandum of Understanding (MOU) with Simera Sense to advance 
      AI-enabled hyperspectral imaging capabilities 
 
   -- Finalized the Fortis VPX Command and Data Handling platform for 
      integration on to LizzieSat-4 and LizzieSat-5, establishing on-orbit 
      heritage for the Company's next generation spacecraft computing 
      architecture 
 
   -- Appointed Kelle Wendling, a senior aerospace and defense executive, to 
      the Board of Directors 

Subsequent Operational Highlights:

   -- Completed best-efforts registered direct offering on April 21, 2026, 
      generating gross proceeds of $58.5 million, further strengthening the 
      Company's liquidity position 
 
   -- Announced planned Chief Financial Officer (CFO) transition subsequent to 
      quarter end: current CFO expected to depart effective June 1, 2026, with 
      John Burke appointed Interim Chief Financial Officer effective the same 
      date while the Company conducts a comprehensive search for a permanent 
      CFO. 

Financial Highlights for the First Quarter Ending March 31, 2026:

   -- Revenue: $359,000, an increase of 51% compared to $238,000 in Q1 2025, 
      driven by new customer contracts including Lonestar Data Holdings and 
      Teledyne Marine 
 
   -- Cost of Revenue: $1.4 million, a 25% decrease compared to $1.9 million in 
      Q1 2025, reflecting lower depreciation and improved manufacturing cost 
      discipline 
 
   -- Gross Profit (Loss): Gross loss of $1.1 million, a 36% improvement from a 
      gross loss of $1.6 million in Q1 2025 
 
   -- Selling, General and Administrative Expenses (SG&A) Expenses: $4.4 
      million, consistent with $4.4 million in Q1 2025 
 
   -- Adjusted EBITDA (Non-GAAP): Loss of $4.6 million, as compared to a 
      $4.7million loss in Q1 2025 
 
   -- Net Loss: $5.2 million, an improvement of $1.2 million, or 19%, as 
      compared to Q1 2025 Cash Position: $27.3 million as of March 31, 2026, 
      with no outstanding term debt 

Conference Call and Webcast

Event: Sidus Space First Quarter Financial Results Conference Call

Date: Thursday, May 14, 2026

Time: 5:00 p.m. Eastern Time

Live Call: + 1-866-652-5200 (U.S. Toll-Free) or +1-412-317-6060 (International)

Webcast: https://app.webinar.net/3lBO1a4r6ZQ

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until Thursday, May 21, 2026, at 11:59 P.M. ET and can be accessed by dialing +1-855-669-9658 (U.S. Toll-Free) or +1-412-317-0088 (International) and entering replay pin number: 3323981. An online archive of the webcast will be available for one year following the event at https://investors.sidusspace.com/.

About Sidus Space

Sidus Space, Inc. (NASDAQ: SIDU) is an innovative space and defense technology company offering flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined$(R)$, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat(R), Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: https://www.sidusspace.com

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled 'Risk Factors' in Sidus Space's Annual Report on Form 10-K for the year ended December 31, 2025, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Non-GAAP Measures

To provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures of adjusted EBITDA. We use adjusted EBITDA in order to evaluate our operating performance and make strategic decisions regarding future direction of the company since it provides a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as net income (as determined by U.S. GAAP) adjusted for interest expense, depreciation and amortization expense, capital raise expense, severance costs, equity-based compensation and impairment loss. These non-GAAP measures may be different from non-GAAP measures made by other companies since not all companies will use the same measures. Therefore, these non-GAAP measures should not be considered in isolation or as a substitute for relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis.

The following table reconciles adjusted EBITDA to net loss (the most comparable GAAP measure) for the three months ended March 31, 2026 and 2025:

 
                        Three Months Ended 
                            March 31, 
                    -------------------------- 
                        2026          2025         Change       % 
                    ------------  ------------  ------------  ----- 
Net Income / 
 (Loss)             $(5,211,607)  $(6,414,627)  $  1,203,020   (19)% 
                     -----------   -----------   -----------  ----- 
Interest 
 Income/Expense 
 (i)                   (258,102)       341,707     (599,809)  (176)% 
Depreciation & 
 Amortization(ii)        611,606       934,674     (323,068)   (35)% 
Capital Raise 
 expense (iii)                 -         5,480       (5,480)  (100)% 
Severance Costs           16,042       206,100     (190,058)   (92)% 
Equity based 
 compensation 
 (iv)                    215,127       252,243      (37,116)   (15)% 
                     -----------   -----------   -----------  ----- 
Total Non-GAAP 
 Adjustments             584,673     1,740,204   (1,155,531)   (66)% 
                     -----------   -----------   -----------  ----- 
Adjusted EBITDA      (4,626,934)   (4,674,423)        47,488    (1)% 
                     ===========   ===========   ===========  ===== 
 
 
(i)    Sidus Space incurred lower net interest expense following the repayment 
       of the asset-based loan in January 2026 and increased interest income 
       from cash holdings. 
(ii)   Sidus Space incurred lower depreciation expense following the satellite 
       impairment write-off in Q4 2025. 
(iii)  Sidus Space did not incur internal fundraising expense related to 
       capital raises. 
(iv)   Sidus Space issued stock-based compensation for employee and Board 
       services rendered. 
 
 
                            SIDUS SPACE, INC. 

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