Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 92

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 92
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 of June 30, 2025, we had approximately $3.6 million of cash as compared to approximately $15.7 million as of December 31, 2024.

As
of June 30, 2025 the working capital deficit is primarily due to the build out of our LizzieSat satellites in anticipation of additional
upcoming launches. As of December 31, 2024, our working capital surplus was primarily due to funds raised in our capital raises completed
Q4 2024.

Current
assets decreased by approximately $11.1 million to approximately $11.2 million as of June 30, 2025 from approximately $22.2 million as
of December 31, 2024. The decrease is primarily attributable to a decrease in cash partially offset by an increase in related party accounts
receivable.

42

Current
liabilities are slightly higher at $14.8 million as of June 30, 2025 versus $14.2 million December 31, 2024 primarily related to an increase
in our Asset-based loan liability.

July
2025 Public Offering

On
July 29, 2025, we completed an underwritten public offering of 7,143,000 shares of our Class A common stock at a public offering price
of $1.05 per share, for which we received approximately $6.7 million of net proceeds.

Cash
Flow

    Six Months Ended  

    June 30,  

    2025  
    2024  
    Change  
    % 
  
    Cash used in operating activities 
    $(7,845,359) 
    $(7,570,068) 
    $(275,291) 
     4%
  
    Cash used in investing activities 
    $(4,354,130) 
    $(4,067,741) 
    $(286,389) 
     7%
  
    Cash provided by financing activities 
    $130,603  
    $11,866,071  
    $(11,735,468) 
     (99)%
  
    Cash on hand 
    $3,634,693  
    $1,444,369  
    $2,190,324  
     152%

Six
Months ended June 30, 2025 and 2024

Cash
Flow from Operating Activities

For
the six months ended June 30, 2025