Sidus Space (SIDU) is transitioning from early-stage development to commercialisation, driven by validated in-orbit technology and a growing full-stack space/data platform. Recent $100M capital raise strengthens liquidity but introduces significant dilution risk, with valuation now heavily predicated on aggressive future revenue growth. 1Q26 showed 51% revenue growth to $359K, improved cost efficiency, and narrowing losses, but profitability remains distant and execution risk is high.