Sidus Space reported total revenue of $1.26 million for the three months ended June 30, 2025, an increase of 36% year-over-year. This growth was primarily driven by fixed-price milestone contracts, particularly a 514% increase in related-party revenue through Craig Technologies, though non-related party revenue decreased by 17%.
For the six months ended June 30, 2025, total revenue decreased by 24% to $1.50 million compared to the prior year, reflecting a strategic shift away from lower-margin legacy contract work. The company reported a gross loss of $1.03 million for Q2 2025, a 22% decrease compared to a loss of $841,101 in Q2 2024, primarily due to increased satellite and related software depreciation.
Operating expenses increased by approximately $1.2 million in Q2 2025 to $4.26 million, driven by increased headcount and mission operations expenses. Consequently, Sidus reported a net loss of $5.63 million for Q2 2025 and $12.04 million for the six months ended June 30, 2025. Cash and cash equivalents stood at $3.63 million as of June 30, 2025, down from $15.70 million at December 31, 2024, with a working capital deficiency of $3.61 million.
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