The massive cash balance ($166.5M vs $205M market cap) and no debt provide a multi-year runway, but the 54% revenue decline shows the business is still pre-commercial. Monitor the next 1-2 quarters for conversion of the technical milestones (LizzieSat qualification, Fortis VPX integration) into recurring government/commercial contracts, which is the key catalyst for a re-rating.
Price Chart
Executive Summary
Sidus Space reported Q2 2026 revenue of $583,000, a 54% decline YoY from $1.3M, driven by the timing of fixed-price milestone contracts. Net loss improved 15% to $4.8M, and the balance sheet was dramatically strengthened by a $100M registered direct offering in May, ending the quarter with $166.5M cash and no debt. The revenue decline is the headline negative, but the massive cash infusion and operational milestones (LizzieSat qualification, Russell index inclusion) shift the narrative to a well-funded pre-commercialization story, making the overall read mixed.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $583,000, down 54% YoY from $1.3M
- Net loss improved 15% to $4.8M from $5.6M YoY
- Cash position of $166.5M as of June 30, 2026, up from $27.3M at Q1 end
- Closed a $100M gross proceeds registered direct offering on May 29, 2026
- Completed vibration testing on next LizzieSat spacecraft, a key launch qualification milestone
- Appointed Alan Khalili as CFO effective July 27, 2026
- Included in Russell 2000, 3000, and Microcap Indexes as of June 26, 2026
Financial Impact
Revenue decline of $678K (-54% YoY) offset by $100M equity raise and $166.5M cash position
Risk Factors
- Revenue is lumpy and declining, dependent on milestone-based contracts
- Massive dilution: share count rose from 65.4M to 101.1M in Q2 alone, with further overhang from pre-funded warrants
- No clear path to profitability; operating cash burn was $9.1M in H1 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-038505 |
| Document: form8-k.htm | 0001493152-26-038505 |
| Document: 0001493152-26-038505-index-headers.html | 0001493152-26-038505 |
| Document: 0001493152-26-038505-index.html | 0001493152-26-038505 |
| Document: 0001493152-26-038505.txt | 0001493152-26-038505 |
| 8-K Data (Synthetic) | 0001493152-26-038505 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 13d ago | Press Release | $1.26 $1.17 | ▼ −7.14% | ▼ −7.60% | $1.15 (−8.33%) |
Oct 9, 2026 17d ago | 8-K | $1.44 $1.17 | ▲ +18.75% | ▲ +17.26% | $1.15 (+19.79%) |
Oct 6, 2026 20d ago | 3 | $1.64 $1.26 | ▼ −23.17% | ▼ −22.19% | $1.15 (−29.57%) |
Oct 6, 2026 20d ago | 8-K | $1.64 $1.26 | ▼ −23.17% | ▼ −22.19% | $1.15 (−29.57%) |
Aug 14, 2026 10w ago | 8-K | $2.54 $2.22 | ▼ −12.43% | ▼ −11.24% | $1.15 (−54.44%) |
Aug 14, 2026 10w ago | Press Release | $2.54 $2.22 | ▼ −12.43% | ▼ −11.24% | $1.15 (−54.44%) |
Aug 7, 2026 11w ago | Press Release | $2.24 $2.60 | ▲ +16.07% | ▲ +15.67% | $1.15 (−48.44%) |
May 15, 2026 23w ago | 8-K | $4.01 $5.12 | ▲ +27.68% | ▲ +26.72% | $1.15 (−71.20%) |
Apr 20, 2026 27w ago | 424B5 | $3.75 $3.08 | ▲ +17.87% | ▲ +18.95% | $1.15 (+69.20%) |
Apr 20, 2026 27w ago | 8-K | $3.75 $3.08 | ▼ −17.87% | ▼ −18.95% | $1.15 (−69.20%) |
US Market Status
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