Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 43

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 43
---
 decreases:

    ●
    A decrease of approximately
    $406,000 in fundraising related expense to $5,000 in 2025 due to timing of capital raises.

    ●
    A decrease of $137,000
    in professional and outside consulting services to $360,000 compared to $497,000 in 2024 primarily related to lower accounting related
    expenses.

    ●
    A decrease of $105,000
    in franchise taxes to $32,000 compared to $137,000 in 2024 related to timing of accrual and payments.

-35-

Total
other income (expenses)

Other
income and (expenses) showed an increase of other expenses of $92,726 to $341,707 compared to $248,981 in 2024 primarily due to an increase
in interest expense related to our asset-based loan.

NON-GAAP
MEASURES

To
provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures
of adjusted EBITDA. We use adjusted EBITDA in order to evaluate our operating performance and make strategic decisions regarding future
direction of the company since it provides a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as
net income (as determined by U.S. GAAP) adjusted for interest expense, depreciation and amortization expense, acquisition deal costs,
severance costs, capital market and advisory fees, equity-based compensation and warrant costs. These non-GAAP measures may be different
from non-GAAP measures made by other companies since not all companies will use the same measures. Therefore, these non-GAAP measures
should not be considered in isolation or as a substitute for relevant U.S. GAAP measures and should be read in conjunction with information
presented on a U.S. GAAP basis.

The
following table reconciles adjusted EBITDA to net loss (the most comparable GAAP measure) for the three months ended March 31, 2025 and
2024:

    Three Months Ended  

    March 31,  

    2025  
    2024  
    Change  
    % 
  
    Net Income / (Loss) 
    $(6,414,627) 
    $(3,810,500) 
    $(2,604,127) 
     68%
  
    Interest Income/Expense (i) 
     341,707