Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 103

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 103
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978,308) 
    $(2,230,118) 
    $(748,190) 
     34%
  
    Cash provided by financing activities 
    $2,193,243  
    $12,604,064  
    $(10,410,821) 
     (83)%
  
    Cash on hand 
    $11,711,301  
    $6,171,759  
    $5,539,542  
     90%

Three
Months ended March 31, 2025 and 2024

Cash
Flow from Operating Activities

For
the three months ended March 31, 2025, net cash flows used in operating activities was approximately $3.2 million compared to approximately
$5.4 million during the three months ended March 31, 2024.

Cash
flows used in operating activities for the three months ended March 31, 2025 of approximately $3.2 million is comprised of a net loss
of approximately $6.4 million, which was reduced by non-cash expenses of approximately $252,000 for stock-based compensation, approximately
$935,000 for depreciation, approximately $20,000 of non-cash fees on the asset-based loan and a decrease in net working capital of approximately
$2.0 million.

Cash
flows used in operating activities for the three months ended March 31, 2024 of approximately $5.4 million is comprised of a net loss
of approximately $3.8 million, which was reduced by non-cash expenses of approximately $79,000 for stock-based compensation and approximately
$253,000 for depreciation, and an increase in net working capital of approximately $1.9 million.

-37-

Cash
Flows from Investing Activities

During
the three months ended March 31, 2025 and 2024, Sidus Space invested approximately $3.0 million and $2.2 million respectively, in property
and equipment primarily related to purchasing satellite related components and software.

Cash
Flows from Financing Activities

During
the three months ended March 31, 2025, net cash provided in financing activities of approximately $2.2 million included proceeds from
the exercise of warrants from our December 2024 capital raise of approximately $2.4 million and net proceeds of approximately $2.9 million
from an asset-based loan and repayment of notes payable of approximately $3.1 million.

During
the