CAPE CANAVERAL, Fla. - Sidus Space, Inc. (NASDAQ: SIDU), a company specializing in satellite-based Data-as-a-Service, has successfully established two-way communications with its innovative LizzieSat™ satellite, which utilizes advanced 3D printing technology and Geospatial Artificial Intelligence (Geo-AI) for Earth observation.
The LizzieSat™ satellite is constructed using a hybrid 3D-printing process with Markforged™ Onyx FR-A material, which is flame-retardant and provides metal-like strength. This method significantly reduces the cost, weight, and production time of the satellite
Sidus Space anticipates a full production cycle of 45 days per satellite, including printing and assembly. Following the successful deployment of the first LizzieSat earlier this year, the company has two more satellites scheduled for launch before the year's end.
Carol Craig, CEO and Founder of Sidus Space, highlighted the company's unique approach to satellite production and its benefits to their Data-as-a-Service business model. The integration of on-orbit AI, along with the rapid production process and multi-sensor data collection capabilities, positions Sidus to expand its satellite constellation and offer valuable data services to customers.
LizzieSat is equipped to handle multiple sensors simultaneously, enabling diverse data collection for sectors such as agriculture, maritime, and oil and gas. These include hyperspectral and multispectral imaging, automatic identification system (AIS), and optical technologies. Additionally, Sidus's proprietary FeatherEdge AI hardware and software solution allows for near real-time processing of imagery and sensor data, providing actionable intelligence.
Sidus Space is headquartered in Cape Canaveral, Florida, and operates a 35,000-square-foot facility for manufacturing, assembly, integration, and testing. The company's services extend beyond Satellite-as-a-Service, encompassing mission-critical hardware manufacturing, engineering services, satellite design, launch planning, mission operations, and in-orbit support.
This news is based on a press release statement.
InvestingPro Insights
As Sidus Space, Inc. (NASDAQ: SIDU) continues to innovate with its LizzieSat™ satellites, the financial metrics and market performance of the company offer a mixed picture. Investors considering Sidus Space should be aware of several key points drawn from InvestingPro data and InvestingPro Tips.
From a financial standpoint, Sidus Space has a market capitalization of $15.64 million, reflecting the company's size within the industry. While the company has experienced substantial revenue growth of 26.64% in the last twelve months as of Q3 2023, it's important to note that its revenue growth for the same quarter was negative, at -25.18%. This could indicate potential volatility in revenue streams, which investors should monitor closely.
Moreover, the company's current P/E ratio stands at -0.486, suggesting that the market has concerns about its profitability. This is further emphasized by an adjusted P/E ratio of -1.14 for the last twelve months as of Q3 2023, and an InvestingPro Tip highlighting that analysts do not anticipate the company will be profitable this year. Additionally, another InvestingPro Tip points out that the stock has fared poorly over the last month, with a one-month price total return of -18.7%.
For those interested in more in-depth analysis, InvestingPro offers a total of 13 InvestingPro Tips for Sidus Space, which can provide further guidance on the company's financial health and market performance. To explore these tips in detail, visit: https://www.investing.com/pro/SIDU. And remember, you can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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