Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 642

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 642
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. 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.

 52 

The following table reconciles adjusted EBITDA to
net loss (the most comparable GAAP measure) for the twelve months ended December 31 2024, and 2023:

    Twelve Months Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Net Income / (Loss) 
    $(17,524,056) 
    $(14,328,348) 
    $(3,195,708) 
     22%
  
    Interest Expense (i) 
     1,306,252  
     903,136  
     403,116  
     45%
  
    Depreciation and Amortization (ii) 
     2,171,873  
     217,107  
     1,954,766  
     900%
  
    Acquisition Deal Costs (iii)_ 
     -  
     220,632  
     (220,632) 
     -100%
  
    Capital raise expense (iv) 
     805,322  
     927,875  
     (122,553) 
     -13%
  
    Warrant costs underwriter (v) 
     -  
     917,848  
     (917,848) 
     -100%
  
    Severance Costs 
     22,201  
     147,222  
     (125,021) 
     -85%
  
    Equity based compensation (vi) 
     309,736  
     104,038  
     205,698  
     198%
  
    Total Non-GAAP Adjustments 
     4,615,384  
     3