Company: SIDU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023543
Chunk: 57

Company: Sidus Space Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 57
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30, 2025 of approximately $14.1 million is comprised of a net
loss of approximately $18.1 million, which was reduced by non-cash expenses of approximately $625,000 for stock-based compensation, approximately
$3.2 million for depreciation, and a decrease in working capital of approximately $158,000.

Cash
flows used in operating activities for the nine months ended September 30, 2024 of approximately $10.3 million is comprised of a net
loss of approximately $11.8 million, which was reduced by non-cash expenses of $236,040 for stock-based compensation and approximately
$1.5 million for depreciation, and an increase in working capital of approximately $170,000.

Cash
Flows from Investing Activities

During
the nine months ended September 30, 2025 and 2024, we invested approximately $5.8 million and $5.1 million respectively in property and
equipment primarily related to purchasing satellite related components and software.

Cash
Flows from Financing Activities

During
the nine months ended September 30, 2025, net cash provided in financing activities of $16.9 million included proceeds from multiple
capital raises of approximately $15.5 million, proceeds from the exercise of warrants from our December 2024 capital raise of approximately
$2.4 million and net proceeds of approximately $2.1 million from an asset-based loan and repayment of a note payable approximately $3.1
million.

During
the nine months ended September 30, 2024, net cash provided in financing activities of approximately $15.4 million included multiple
capital raises of approximately $13.7 million net proceeds from an asset-based loan of approximately $1.8 million and repayment of a
note payable of $150,000.

44

Off-Balance
Sheet Arrangements

We
do not have any off-balance sheet arrangements or relationships with unconsolidated entities or financial partnerships, such as entities
often referred to as structured finance or special purpose entities.

Critical
Accounting Policies and Significant Judgments and Estimates

This
discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been prepared
in accordance with generally accepted accounting principles in the United States (“GAAP”). The preparation of these financial
statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure
of contingent assets and liabilities at the date of the financial