Sidus Space Inc. (NASDAQ: SIDU) released its financial results for the first quarter ending March 31, 2025. The company reported a revenue of $238,000, a substantial decrease from the $1.05 million reported in the first quarter of 2024. This decline reflects Sidus Space's strategic shift away from legacy services towards new commercial models. The cost of revenue increased by 93% to $1.9 million, attributed to higher satellite and software depreciation, along with increased material and labor costs. The company posted a gross loss of $1.6 million, contrasting with a gross profit of $84,000 in the same quarter of the previous year, due to a reduced contribution from high-margin legacy services during its transition to higher-value, recurring revenue lines. SG&A expenses rose to $4.4 million from $3.6 million in Q1 2024, driven by growth in headcount, launch rescheduling, and scaling of operations. The adjusted EBITDA showed a loss of $4.7 million, compared to a $2.7 million loss in Q1 2024. Sidus Space reported a net loss of $6.4 million, up from $3.8 million in Q1 2024, primarily due to strategic investments and depreciation. The company strengthened its cash position to $11.7 million as of March 31, 2025, compared to $6.2 million a year earlier, and fully repaid its Decathlon loan, enhancing capital efficiency. Significant operational highlights for the quarter include the launch of LizzieSat®-3 (LS-3) and the advancement of a major technology rollout. Sidus Space has also introduced new platforms such as the Orlaith™ AI Ecosystem, positioning the company to generate revenue from diversified initiatives in the second half of the year.