Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 93

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 93
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, net cash flows used in operating activities was approximately $7.80 million compared to approximately
$7.6 million during the six months ended June 30, 2024.

Cash
flows used in operating activities for the six months ended June 30, 2025 of approximately $7.8 million is comprised of a net loss of
approximately $12.0 million, which was reduced by non-cash expenses of approximately $437,000 for stock-based compensation, approximately
$2.1 million for depreciation, and a decrease in working capital of approximately $1.5 million.

Cash
flows used in operating activities for the six months ended June 30, 2024 of approximately $7.6 million is comprised of a net loss of
approximately $7.9 million, which was reduced by non-cash expenses of $160,028 for stock-based compensation and $858,033 for depreciation,
and an increase in working capital of approximately $642,000.

Cash
Flows from Investing Activities

During
the six months ended June 30, 2025 and 2024, we invested approximately $4.4 million and $4.1 million respectively in property and equipment
primarily related to purchasing satellite related components and software.

Cash
Flows from Financing Activities

During
the six months ended June 30, 2025, net cash provided in financing activities of $130,603 included proceeds from the exercise of warrants
from our December 2024 capital raise of approximately $2.4 million and net proceeds of approximately $809,000 from an asset-based loan
and repayment of notes payable of approximately $3.1 million.

43

During
the six months ended June 30, 2024, net cash provided in financing activities of approximately $11.9 million included a January 2024
capital raise of approximately $5.6 million and a February 2024 capital raise of approximately $7.9 million partially offset by repayment
of an asset-based loan of approximately $1.7 million net and repayment of notes payable of $150,000.

Off-Balance
Sheet Arrangements

We
do not have any off-balance sheet arrangements or relationships with unconsolidated entities or financial partnerships, such as entities
often referred to as structured finance or special purpose entities.

Critical
Accounting Policies and Significant Judgments and Estimates

This
discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been