CAPE CANAVERAL, Fla. - Sidus Space, a space mission enabler listed on NASDAQ:SIDU, has been chosen by Lonestar Data Holdings to develop a fleet of six lunar spacecraft dedicated to data storage and disaster recovery solutions. The partnership designates Sidus as the exclusive satellite manufacturing partner for Lonestar's initiative to offer secure data storage services in lunar orbit.
The agreement entails Sidus managing the design, payload integration, planning, and on-orbit support for the six LizzieSat™ satellites. These spacecraft are intended to uphold Lonestar's stringent requirements for secure and redundant data storage, positioning the company as a forerunner in deep space data services for critical applications.
Carol Craig, CEO of Sidus Space, highlighted the company's ability to scale its LizzieSat™ platform to meet the diverse needs of its customers, emphasizing Sidus's flexibility and adaptability in satellite design. This capability is seen as vital for organizations seeking resilient and cost-effective space-based infrastructure solutions.
Lonestar, known for its innovative data storage and Resiliency As A Service (RAAS) offerings, aims to provide clients with reliable storage for mission-critical data through this project. The lunar satellites will not only protect essential data but also offer a scalable foundation for future space-based storage demands.
Chris Stott, Founder and CEO of Lonestar, expressed confidence in Sidus's AI capabilities and expertise in mission-critical satellite operations, which are instrumental in realizing their vision for premium space-based data storage and resiliency services.
Sidus Space's mission, "Space Access Reimagined™," reflects its commitment to rapid innovation and cost-effective space solutions. The company operates a significant space manufacturing facility on Florida's Space Coast, providing services to government, defense, intelligence, and commercial sectors globally.
Lonestar continues to lead in edge processing and data storage in lunar orbit, following its milestone of conducting the world's first software-defined data operations on the Moon in 2024. The company stays committed to sustainability with solar-powered and carbon-neutral operations.
This collaboration between Sidus Space and Lonestar represents a significant advancement in space-based data storage solutions, which could redefine how critical information is safeguarded in the future. The information for this article is based on a press release statement.
In other recent news, Sidus Space has made significant strides in enhancing its satellite technology and expanding its global reach. The company has integrated Iridium-enabled technology into its LizzieSat™ satellite platform to facilitate near real-time data transmission services, a move that is expected to improve applications such as environmental monitoring and disaster response.
Sidus Space has also successfully completed the critical design review for its LizzieSat™ NL project in partnership with The Netherlands Organization. This achievement marks a key phase in the project, paving the way for flight-unit fabrication and system integration. In addition, the company has received approval from the U.S. Federal Communications Commission to operate a micro constellation of satellites, a crucial step toward expanding its data services.
The company has also completed environmental testing for its LizzieSat-2 satellite, a significant step towards its launch. In a strategic move, Sidus Space has partnered with Neuraspace to enhance its satellite constellation operations. Furthermore, Sidus Space has secured a $2 million subcontract to manufacture components for the U.S. Navy, marking its third such engagement. Despite a recent decline in total revenue, the company has raised $15.2 million in gross proceeds, solidifying its financial position for future projects. Lastly, Sidus Space has expanded its global reach by partnering with NamaSys to establish a satellite manufacturing facility in the Middle East. These are some of the recent developments at Sidus Space.
InvestingPro Insights
While Sidus Space (NASDAQ:SIDU) has secured a promising partnership with Lonestar Data Holdings, investors should be aware of some financial challenges facing the company. According to InvestingPro data, Sidus Space has a market capitalization of just $10.16 million, reflecting its small-cap status in the space industry.
InvestingPro Tips highlight that Sidus Space is "quickly burning through cash" and "not profitable over the last twelve months." This aligns with the company's revenue of $4.31 million in the last twelve months as of Q2 2023, coupled with a significant operating loss of $14.07 million during the same period. These figures underscore the financial risks associated with early-stage space technology companies.
Despite these challenges, analysts anticipate sales growth in the current year, which could be bolstered by partnerships like the one with Lonestar. However, investors should note that the stock "generally trades with high price volatility" and has "fallen significantly over the last year," with a one-year price total return of -73.0%.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips for Sidus Space, providing a more comprehensive view of the company's financial health and market position.
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