Sidus Space expands financial restatement to include additional 2024, 2025 quarters
SIDU•Sidus Space expanded its restatement to cover the third quarter of 2024 and the first three quarters of 2025. Preliminary estimates show 2024 net loss rising about $12.5 million, 2025 net loss falling about $5.5 million, and first-half 2026 net loss rising about $4.1 million.
1. Restatement scope expands
Sidus Space expanded its financial restatement to include the third quarter of 2024 and the first three quarters of 2025. It plans to report corrections in an amended 2025 annual report and a third-quarter 2026 report, rather than filing separate amendments for each affected filing.
2. Preliminary financial impacts
Preliminary estimates show 2024 net loss increasing by approximately $12.5 million and 2025 net loss decreasing by approximately $5.5 million. First-half 2026 net loss is expected to increase by approximately $4.1 million, while stockholders’ equity at June 30 would fall by approximately $15 million.
3. Internal control reports
Management expects to identify material weaknesses. The company’s internal control reports for year-end 2024 and 2025 should no longer be relied upon.
