Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 44

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 44
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 248,981  
     92,726  
     37%
  
    Depreciation & Amortization(ii) 
     934,674  
     253,030  
     681,644  
     269%
  
    Fundraising expense (iii) 
     5,480  
     560,322  
     (554,842) 
     -99%
  
    Severance expense 
     206,100  
     (9,722) 
     215,822  
     2220%
  
    Equity based compensation 
     252,243  
     79,198  
     172,045  
     218%
  
    Total Non-GAAP Adjustments 
     1,740,204  
     1,131,809  
     608,395  
     54%
  
    Adjusted EBITDA 
     (4,674,423) 
     (2,678,691) 
     (1,995,732) 
     75%

    (i)
    
    Sidus
    Space incurred increased interest expense related to an asset-based loan slightly offset by interest income.
  
    (ii)
    
    Sidus
    Space incurred increased depreciation expense 2025 with launch and deployment of multiple satellite fixed assets and related satellite
    software as well as new ERP software capitalization.
  
    (iii)
    
    Sidus
    Space did not raise capital during Q1 2025, which resulted in decreased fundraising expense during Q1 2025.

Liquidity
and Capital Resources

The
following table provides selected financial data about us as of March 31, 2025, and December 31, 2024

    March 31,  
    December 31,  

    2025  
    2024  
    Change  
    % 
  
    Current assets 
    $16,516,929  
    $22,252,552  
    $(5,735,623) 
     (26)%
  
    Current liabilities 
    $14,229,336  
    $14,209,502  
    $19,834  
     0%
  
    Working capital 
    $2,287,593  
    $8,043,050  
    $(5,755,457