Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 90

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 90
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     17,231  
     10,089  
     59%
  
    Equity based compensation (iii) 
     184,448  
     80,829  
     103,618  
     128%
  
    Total Non-GAAP Adjustments 
     1,678,720  
     952,237  
     726,483  
     76%
  
    Adjusted EBITDA 
     (3,946,350) 
     (3,183,847) 
     (762,503) 
     24%

    (i)
    Sidus Space
    incurred increased interest expense due to short-term note payable due in Q4 2024 and interest expense related to an asset based
    loan.
  
    (ii)
    Sidus Space incurred increased
    depreciation expense 2025 and 2024 with launch and deployment of satellite fixed asset and related satellite software, as well as
    new ERP software capitalization.
  
    (iii)
    Sidus Space incurred increased
    equity based compensation expense due to incentive programs implemented by the Board in 2025.

41

    Six Months Ended  

    June 30,  

    2025  
    2024  
    Change  
    % 
  
    Net Income / (Loss) 
    $(12,039,697) 
    $(7,946,584) 
    $(4,093,113) 
     52%
  
    Interest Expense (i) 
     676,365  
     497,707  
     178,658  
     36%
  
    Depreciation and Amortization (ii) 
     2,066,968  
     858,033  
     1,208,935  
     141%
  
    Fundraising expense (iii) 
     5,480  
     560,322  
     (554,842) 
     -99%
  
    Severance Costs 
     233,420  
     7,509  
     225,911  
     3009%
  
    Equity based compensation (iiii) 
     436,690  
     160,027  
     276,663  
     173%
  
    Total Non-GAAP Adjustments 
     3,418,924