CAPE CANAVERAL, Fla. - Sidus Space, a Space and Data-as-a-Service company, has submitted a patent application for its LizzieSat Modular Satellite Platform System, which aims to enhance on-orbit technology integration. The application, numbered 2023/0406548-A1, is part of the company's effort to bolster its intellectual property portfolio and is currently pending examination.
The LizzieSat platform is designed to offer flexibility and efficiency in integrating various technologies and sensors, aimed at improving mission capabilities through coincident data collection. This system is expected to be deployed on the upcoming SpaceX Transporter 10 mission.
Sidus Space, which trades on NASDAQ under the ticker SIDU, is known for its commitment to advancing satellite technology. With a total of 11 granted patents and 10 pending applications, the company is positioning itself as a leader in satellite manufacturing, particularly in the earth observation and remote sensing constellation sector.
Carol Craig, CEO of Sidus Space, expressed the company's dedication to innovation and the satellite industry's evolution, stating that the LizzieSat Satellite Platform is a significant step forward in their mission.
The patent application announcement underscores Sidus Space's ongoing strategy to enhance its offerings in satellite data services. The company operates from a 35,000-square-foot facility in Cape Canaveral, Florida, providing a range of services from hardware manufacturing and engineering to satellite support.
This news is based on a press release statement and does not reflect any speculative information.
InvestingPro Insights
As Sidus Space (NASDAQ: SIDU) advances its LizzieSat Modular Satellite Platform System, the company's financial health and stock performance are crucial for investors monitoring its growth trajectory. The latest data from InvestingPro shows a market capitalization of 12.17M USD, reflecting the company's current valuation in the market.
InvestingPro Tips indicate that Sidus Space is quickly burning through cash and analysts do not anticipate the company will be profitable this year. This aligns with the company's operating income margin, which stands at a significant -176.4% for the last twelve months as of Q1 2023. Additionally, the stock has experienced high price volatility and has taken a notable hit over the past week, with a 1-week price total return of -10.1%.
Despite these challenges, Sidus Space has demonstrated a revenue growth of 26.64% over the last twelve months as of Q1 2023, indicating some positive momentum in its business operations. However, investors should be aware of the stock's poor performance over longer periods, with a 1-year price total return of -91.73%.
For those looking to delve deeper into Sidus Space's financials and stock analysis, there are 14 additional InvestingPro Tips available, which can provide a more comprehensive understanding of the company's position and prospects. Investors interested in these insights can use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription.
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