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SIDU Nasdaq· Sidus Space Inc
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SIDU Nasdaq· Sidus Space Inc
Earnings report Q3 2023

Sidus Space, Inc. Reports Decreased Revenue in Latest Quarter

Segments of revenue

Sidus Space, Inc. generated a total revenue of $985.52 million in the latest quarter. This consisted of $762.23 million from regular revenue and $223.29 million from revenue related to parties.

Strengths

Despite a decrease in revenue compared to the same quarter last year, Sidus Space, Inc. managed to maintain a gross profit of $96.28 million. This indicates that the company was able to effectively manage its cost of revenue, which amounted to $1.08 billion. Additionally, the company's management comments that the decrease in revenue was primarily due to a decline in regular revenue, while revenue from related parties remained relatively stable.

Challenges

Sidus Space, Inc. faced challenges in the latest quarter as its revenue decreased from $1.32 billion in the same quarter last year to $985.52 million. This decline in revenue can be attributed to a decrease in regular revenue, which may indicate a slowdown in the company's core business operations. Furthermore, the company reported a net loss from operations of $3.87 million, indicating that it incurred expenses that exceeded its revenue.

Noteworthy

It is worth noting that Sidus Space, Inc. experienced a decrease in revenue from both regular sources and revenue related to parties. This suggests that the company faced challenges in generating revenue across its various segments. Additionally, the company reported a net loss from operations, indicating potential financial difficulties.

Summary

Sidus Space, Inc. faced a challenging quarter with a decrease in revenue compared to the same period last year. The company's management attributed this decline to a decrease in regular revenue. Despite these challenges, Sidus Space, Inc. managed to maintain a gross profit and effectively manage its cost of revenue. However, the company reported a net loss from operations, indicating potential financial difficulties. It will be important for the company to address these challenges and focus on strategies to increase revenue in the upcoming quarters.

Source documents

Form 10-Q  filed on Nov 14, 2023
7 pages scanned

Reference data

Company financials Q3 revenue 985.5k
Analyst estimates Q3 EPS missed by NaN%
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