CAPE CANAVERAL, Fla. - Sidus Space, Inc. (NASDAQ: SIDU), a company offering Space and Data-as-a-Service solutions, announced its partnership with Orbital Transports through the latter's Partner Program, aiming to extend its market presence within the global space industry.
The collaboration integrates Sidus Space into the Orbital Transports SmallSat Catalog, an online portal designed to aggregate space products and services, providing partner companies with a new distribution channel and access to emerging markets.
Sidus Space is set to offer technology integration services leveraging its 100kg LizzieSat satellite bus platform, which is available for dedicated single missions or full constellation deployments. The company is also promoting its FeatherEdge platform, which enables high-performance edge computing and in-situ A.I. applications in orbit.
Carol Craig, Founder and CEO of Sidus Space, expressed enthusiasm about the partnership, anticipating that it will enhance the company's visibility and open up additional business opportunities in the space industry.
Echoing this sentiment, David Hurst, CEO of Orbital Transports, highlighted the importance of collaboration in the space sector and the role of the partner network in connecting companies with solutions to their space mission challenges.
Sidus Space, headquartered in Cape Canaveral, Florida, operates a manufacturing and testing facility focused on providing end-to-end satellite support. The company's offerings span across mission-critical hardware manufacturing, satellite design, launch planning, mission operations, and in-orbit support. Sidus Space operates with ISO 9001:2015 and AS9100 Rev. D certifications and is ITAR registered.
Orbital Transports, based in Chicago, IL, specializes in managing end-to-end logistics for small satellite programs, from concept to mission completion.
The press release also contains forward-looking statements regarding Sidus Space's future plans, which are subject to market conditions and other factors that could influence the company's actual performance.
This partnership announcement is based on a press release statement from Sidus Space, Inc.
InvestingPro Insights
In light of the recent partnership between Sidus Space, Inc. (NASDAQ: SIDU) and Orbital Transports, investors may be keen to understand the financial health and market performance of Sidus Space. According to real-time data from InvestingPro, Sidus Space has a market capitalization of $14.55 million, reflecting the market's current valuation of the company.
Despite the potential for sales growth anticipated by analysts, the company's revenue has decreased by 18.24% over the last twelve months as of Q1 2023. This contraction is further highlighted by a significant quarterly revenue decline of 42.34% in Q1 2023.
InvestingPro Tips suggest that Sidus Space has been quickly burning through cash and operates with a moderate level of debt. The company's stock is known for high price volatility and has often moved in the opposite direction of the market.
Moreover, Sidus Space's short-term obligations exceed its liquid assets, and analysts do not anticipate the company will be profitable this year. With the stock price having fallen significantly over various time frames, including a 92.1% drop over the last year, investors should consider these factors when evaluating the company's future prospects.
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