Recent SIDU transcripts
Associated SIDU filings
Carol Craig | Chairwoman and Chief Executive Officer |
Teresa Burchfield | Chief Financial Officer |
Welcome to the Sidus Space Second Quarter 2022 Results. All participants will be in listen-only mode. Please note this event is being recorded. I would now like to turn the conference over to Carol Craig, Chief Executive Officer of Sidus Space. Please go ahead.
you us. thank and morning for joining Good My Chief Executive Carol Craig am the and I Officer name is of Sidus Space. is today me Teresa Chief our With Financial Burchfield, Officer. give highlights call the will this update provide On quarter the I and a business. strategic on on the review financial quarter second results company's XXXX. will Teresa for Slide Safe before Harbor But to begin, presentation, the me let of we disclaimer. which you refer X contains our
result differ extended statements we statements estimate assumptions These operational from to are cycles. sales including make cause demand, statements. subject on to factors liquidity a and based this and delays, current needs, customer call, certain could materially may today's and call. the forward-looking These During expenses risks supply and on ability expectations as and factors include providers uncertainties. are to our chain made launch forward-looking Many results actual
information For can risk company's in the about and call. to Commission, cautioned refer company of not risks the Exchange the reliance forward-looking be undue on the more our to that uncertainties, website, factors update found and during on each with any forward-looking put and these may filings please Securities be discussed this are obligation statements disclaims statements the any specifically Listeners to www.sidusspace.com. which
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to control vertically into allows operations a for disruption us through in manufacturing our satellite customers plus Our and model integrated technical satellite expansion production. our maintaining highly offer a legacy while meaningful field,
near kilograms record in February in many orbits, the XXX including International payloads constellation depicted data approved XD LizzieSat, in Space Merritt program building on via operating XXX and Slide expected launches sensing XXX Union Observation based XX° via locations, inclination, in constellation kilometer NASA you Sidus LizzieSat printed altitude, remote to Sidus ground space continuous, Initial economy. collect to data instruments. with customer hybrid X, Telecommunication LEO and rideshare or is downlink owned, Payloads, onboard, of XXXX. Sidus XX° Island, by Sidus has designed are is know, passes Internet-of-Things Control to Space to Commercial it can dedicated diverse for satellite to global and kilograms multiple to Florida. satellite Services Mission its XXXX. manufacturing as Earth As provide for launch also the LizzieSat is satellite a is Earth using begin multipurpose real-time over Center multi-mission service operations XX Resupply planned Each and contracts. our
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Our mind. downstream increasing starting with the end the in strategy user by includes demand
growth set, While to key flexibility others sectors. all in a for for Space specializing believe Bringing in data Earth problem and focused are we design strategy provide or low-cost on consumers on sectors that model verticalization production, a scalable bespoke will Down
from its unforeseen launch recently continues change. QX was track of end Station, small Sidus There our dependent no satellite XXXX date conditions. has launch This satellite is printed at result QX weather by on as the XXXX the moved XXXX. launch LizzieSat the on of QX meet Preliminary or regarding disclosure NASA revenue a expected impact and from to of planned be completed our to informed Design this milestones Review production to XXXX. our launch been We XXXX, Space that for XD previous hybrid milestones industry, are has successfully to in International however, satellite vehicle initial the timeline of
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development launch to it is important are the still to While provide who explore believe all who of that we those in including directly brokering work are launchers, satellite options. small there services, companies with many
we these we share information publicly. the As agreements, finalize will
includes constellation LizzieSat XD Looking to related can satellite. of expect from to Over revenues of printed been however, from exceed XXXX The data revenue depth satellite at our revenue and space and technology hybrid time, stream. revenue the related manufacturing, hardware our subscriptions integration X, space we our our other have date our date see and breadth to multi-mission majority experience. you to our Slide revenue
Exploration capability International Extravehicular our as and Axiom to a awarded xEVAS This Program, team and is Activity that Gateway of As notified and XX-year through development, Human contract production, contract billion be of Aerospace option contract the two NASA. was Station, Space tools. the Services, EVA The from or one of Extravehicular Spacesuit to with based teams xEVAS include and years Activity two XXXX EVA sustainment System, is Collins provided value plus Artemis Commercial previously for expected an Space processing such June, to integrated is a service Interface and xEVAS and a Space. Landing hardware awarded that potential announced, X.X in the Vehicle a capability includes a missions. new hardware, as full we and were was design, Equipment The ancillary program
moon. very and support walk part allowing next a manufacturing humans We generation to team and of space Collins are development and xEVAS in to to the the ISS the Artemis, of suits explore proud be
meaningful strong forward creating in opportunity, a We to streams role partnerships. this continuing legacy revenue are looking through our playing of exciting new
share We we’re about able. as soon contract will this information as more
both first In to work Marine’s grow. and for As agreement Teledyne in two-year existing and we of supply our Sidus scope Teledyne signed is a QX, work Teledyne we critical Space continue XXXX, partner increased Texas on space, and two-year in to similar expertise Marine’s that mentioned, to manufacturing revenue expand product facility, with pipeline our agreement pricing focus for to master include base. Teledyne while and components associated to with followed believe XXXX Marine The by is our quality environment why a unforgiving we to our of Florida. customers its Marine continues supply continuing Marine. September components and facilities underwater sectors demonstrates customer and Teledyne Massachusetts to and July trusted mission in extreme
the with contracted the critical Another but divisions is to for securing us. over software hardware of long-term control Space manufactured past Constellation. mission as LXHarris. LXHarris quality for recently operations is and LXHarris LXHarris partnership their hard multiple to has regularly customer for support This deliver their the mission Sidus mission is around mission command we to of grow continues Sidus years, several LizzieSat use critical world planning work to and
that continue support as plan Artemis moon Ground such the the I mission first flight into Coast Artemis capsule to will vehicle. to one our focus of put because of agency’s and on also of As orbit in and Rocket the moon’s four Space on aims to module Boosters. the Mobile and first SLS important and hard Space. decade Spacecraft, Stage command six the an earth. starts The super to the ground flight is And Artemis humans for XX, flight [ph] We to sometime happening NASA’s innovate space I’m And is of week Program. with back. supported Solid house including we put Exploration the I Artemis its Launcher hardware Systems, take day or backyard to this launch astronauts. Orion space the and this itself the proud and then space a suppliers, Orion work journey X, servants Orion [Indiscernible] return heavy flight civil August this sharing we on launch uncrewed are will and programs Sidus X.X, program back system traditional to and Core moon lift due all thousands I of
not gas, following: opportunity see and support Slide integrated module manufacturing, addressable our of Wire support vertically fabrication testing as ecosystem. ground event Rocket the design our and limited wire and we significant the well of cabinet hardware the XX, crew position for offerings And fabrication, a And build, on is flight harnesses of are total the There’s Our and of significant overall as the ahead bolts Boosters. can broad quick us frangible to build, hazardous stage based. harness and design include, SLS. systems but contributions fluid for finally offering manufactured Solid equipment space you and specific disconnects a the electronic capture service to purge comprehensive portion and core and market design,
timeline. Our profit of solutions of multiple revenue Space-as-a-Service customers streams, made varying length are the contract margins up and
do. detail will contracts customers with to and as Our goal share continue to significant is our milestones much as allow we
achieving be believe for Although geography that profitability. emerging challenging scalability, We any diversity successful stability, profitability growth for offering, our company. customers, continues of can and experience to position and us
are our our call that, we will of taking cover while over driving confident mission our Burchfield, the are We to space necessary on Teresa will earth right And the track who I down steps turn briefly the profitability bringing with forward. quarterly CFO, towards results. and to on path
Carol. Thanks,
despite our of over and continue cost time, today’s challenging the We satellites, pleased backdrop towards margins in launching our increased progress to chain revenues of with which trajectory landscape. be and the expect business to result we and the supply
end of Slide almost on in results, XX% in the $X,XXX,XXX hardware slightly quarter and can this second space for amount versus of primarily the quarter. to is our Sales along with continue second up were versus second percentage quarter you see approximately points side at through the XXXX. June, sales year’s at Gross as XX XX, manufacturing quarter of XXX% revenue quarter., our be lower at first with last line the driven Looking margin of business, versus satellite-related the quarter the up QX
to grow. as evolve continue will to revenue margins Our continues
smooth time. the when Our on longer of looking out them choppy over quarter-to-quarter, but looked of a will when gross at period at margins will remain mix revenue, depending
company. as the business our increase traded primarily $X.X for relations, expense year. was and investor with all that is of growth This a support million being are than the of operating last higher fees well publicly to Our accounting insurance, facilities, the staff quarter our through expansion increased legal associated as
$XXX,XXX QX second SEC a was being quarter expanded our details, our associated the net We morning. ended which with the of public sales a million This operating please filed loss of and $X.X XXXX. a to engineering additional with with as operations. approximately expenses increased due to was For and in expected reference loss quarter this compared XX-Q, company the
largely the manufacturing well as by as our side a previous be numbers, efforts. sales driven Slide million XXX% of year-to-date driven of revenue $X.X to at hardware lesser it’s development at up as year. by and versus variation revenue XX, Current on of types revenue business, as almost diversity Looking well to slightly And satellite degree. and related continues links is the last space revenue streams, in contracts, business
continue As build will out I various as to margin our mentioned we revenue earlier, streams. be choppy gross
Our at year-to-date XX XX%, year-to-date year. higher margin than gross last percentage points
is margin mixed gross time. longer a and Our of looked period more accurate at over when driven it’s
related were stock-based in operating $X first the such as to incurred infrastructure public increased relations associated They as insurance, almost included legal, Our expenses in accounting, support year-to-date well non-cash million for and charge company million. a growth investment $X.X a cost as consulting in one-time increased expense. company, quarter, being and incremental investor relations fees investor with of
of as a manufacturer growth ended continues Slide can support to the of satellite sheet, through expense, increased support Now quarter the as of our and balance The to general satellite. the cash our facilities balance streams revenue with development to business management and increased staffing expansion team to at you and operating such $X.X looking as the support of well build of see, personnel out the expansion cash on we million. use XX, the the
components requiring are prepayments As encountering in materials. vendors in we challenges order the the chain supply market, also secure that to we and more navigate are
chose delays, in supply risk impacting our savings launch schedules mitigation cost sets results of multiple Additionally, production we of purchase which to chain and and of of subsystems, the satellites. strategically
also related in an will equipment as our You purchases continue the we of business. up to our ramp note property increase side satellite to
our our and our decrease This agreed payable unpaid and agreement entered X, to Whereby with our Space our interest the at payable show principal seeing accrued demand Technical and shareholder is of in June related as Slide product to Craig party of Technical looking we Sidus non-current equity, debt XXXX. party market Moving liabilities current forgive services XX, payable into is majority we the on Consulting streams. balances. across a notes related and notes of Craig both Consulting, for the forgiveness shareholder. our most strong various notably, revenue notes result entire
and continuing We company have heavily public to leverage are continues drive invested profitability growth grow. business and R&D to to and and operational position infrastructure, invest in revenue development, us our as efficiencies to drive
in executing and our company are ongoing resources on are will sufficient growth. to fuel We execute we confident that actions the has of initiatives process ensure the
B. $XX A As Carol turn I’ll Class agreement of the from and the time remarks. into mentioned, subject growth. to sell stock in Riley that the company issued to back company that, opportunity time the newly common purchase registration to fuel to forth to it With the for rights with closing in the purchase common entered the Riley agreement satisfaction million conditions B. to set agreement a up provides stock Carol over
for an for on important and Teresa, thank partner you, us bringing Thank you mission space joining being to of earth. call down in our this everyone and
towards we ecosystem for to customers production ahead continue about excited as through vertically prepare Sat. take key space Lizzie expand relationships satellite serving our we and lies manufacturing Sidus the launch are as more our steps what integrated and hardware to We
profitability you updated Thank our the we steps make much. are to you look progress. confident we taking toward very keeping are on We as and path forward necessary additional
for now attending The presentation. today’s you has conference concluded. Thank
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