Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 54

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 54
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NOTES
TO THE UNAUDITED CONDENCED CONSOLIDATED FINANCIAL STATEMENTS

March
31, 2025

Note
1. Organization and Description of Business

Organization

Sidus
Space Inc. (“Sidus”, “we”, “us” or the “Company”), was formed as Craig Technologies Aerospace
Solutions, LLC, in the state of Florida, on July 17, 2012. On April 16, 2021, the Company filed a Certificate of Conversion to register
and incorporate with the state of Delaware and on August 13, 2021 changed the company name to Sidus Space, Inc.

Description
of Business

Founded
in 2012, Sidus Space is an innovative, agile space mission enabler providing flexible, cost-effective solutions to government, defense,
intelligence, and commercial companies around the globe. Our products and services include satellite manufacturing and technology integration,
AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services and space and defense manufacturing.
With our mission of Space Access Reimagined®, Sidus is committed to rapid innovation, adaptable and cost-effective solutions, and
the optimization of space system and data collection performance.

We
offer customers a variety of mission options whether the ability to host a technology, procure a satellite bus, or simply purchase data
as a service. Our flight proven modular satellite, LizzieSat® is a 3D printed, multi-sensor, multi-mission satellite, which is the
first of its kind, offering a flexible, cost-effective platform that can be easily adapted to integrate new technologies or customized
and scaled to create a new satellite design to meet mission requirements.

Our
products and services are offered through several verticals: Satellite Design and Manufacturing; Technology Design and Integration; AI-driven
Space-based Data Solutions; Mission Planning Operations; AI/ML Products and Services; and Space and Defense Manufacturing.

Our
vertically integrated model with complementary lines of business enables us to unlock new potential revenue generating opportunities
while maintaining diversity of revenue. We are not dependent on a single line of business or customer, which provides us the “optionality”
to scale where market needs demand. This diversity mitigates risks associated with external factors like macroeconomic shifts or technological
disruptions. Our flexibility allows us to adapt swiftly to market changes, supporting growth across all our business lines.

Through
our Sidus Orlaith™ AI ecosystem, we enable near real-time on-orbit data processing,