Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 433

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 433
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5 billion from 2012 to 2021, is expected to grow by 258% to $55.6 billion over 2022 to 2031, driven
by numerous constellation projects from both commercial and government stakeholders. The next decade will primarily feature the rollout
of multiple constellation projects, accounting for 81% of smallsat launches, mainly by commercial operators. Notably, 3,335 smallsats
under 10 kg are anticipated to launch in the next decade, more than doubling the 1,656 launched between 2012 and 2021. Satellites in
this category, especially CubeSats, have gained momentum recently, with 1,187 launched in the past five years alone.

The growth in low Earth orbit (LEO) satellite constellations
is driven by technological advances in ground equipment, new business models, expanded funding, and increasing demand for high bandwidth
and lower latency. Although the satellite constellations market remains in its early stages, significant growth is anticipated in the
launch industry as companies seek versatile and cost-effective methods to deploy single satellites to specific orbits or establish their
satellite constellations. Furthermore, the expansion of the satellite constellations market is expected to benefit satellite services
offerings. LEO satellite constellations have relatively short lifespans on orbit, necessitating the launch of replenishment satellites
every few years

 50 

Results of Operations

Comparison of year ended December 31, 2024
to year ended December 31, 2023

The following table provides certain selected financial
information for the periods presented:

    Years Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Revenue 
    $4,672,646  
    $5,962,785  
    $(1,290,139) 
     (22)%
  
    Cost of revenue 
     6,141,657  
     4,321,482  
     1,820,175  
     42%
  
    Gross Profit (Loss) 
     (1,469,011) 
     1,641,303  
     (3,110,314) 
     (190)%
  
    Gross Profit Percentage 
     (31)% 
     28% 

    Selling, general & administrative expense 
     14,249,870