Sidus Space's revenue dropped sharply in Q4 2024, primarily due to a significant decrease in total revenue, despite cost reductions. The company's financial results for the fourth quarter and full-year ended December 31, 2024, revealed a 38.51% decline in revenue, amounting to $825,9631. This decrease in revenue was a result of various factors:
- Decreased Cost of Revenue: The cost of revenue increased by 42% for the twelve months ended December 31, 2024, reaching approximately $6.1 million, up from approximately $4.3 million2. This increase in cost of revenue indicates that despite cost reductions, the company's operational expenses are still higher than the revenue generated.
- Net Income Loss: The company reported a net loss of $5.67 million for Q4 20243, which is a direct result of the revenue decline and the inability of the company to cover its expenses with the generated income.
In summary, Sidus Space's revenue drop in Q4 2024 was primarily due to a combination of decreased revenue and increased cost of revenue, resulting in a net loss for the period.
5/8/2025 09:37am
