Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 0

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
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NOTES
TO THE UNAUDITED CONDENCED CONSOLIDATED FINANCIAL STATEMENTS

June
30, 2025

Note
1. Organization and Description of Business

Organization

Sidus
Space Inc. (“Sidus”, “we”, “us” or the “Company”), was formed as Craig Technologies Aerospace
Solutions, LLC, in the state of Florida, on July 17, 2012. On April 16, 2021, the Company filed a Certificate of Conversion to register
and incorporate with the state of Delaware and on August 13, 2021 changed the company name to Sidus Space, Inc.

Description
of Business

Founded
in 2012, Sidus Space is an innovative, space and defense technology provider offering flexible, cost-effective solutions, including satellite
manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products
and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed
to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance.

We
offer customers a variety of mission options whether the ability to host a technology, procure a satellite bus, or simply purchase
data as a service. Our flight proven modular satellite, LizzieSat® is a hybrid 3D printed, multi-sensor, multi-mission
satellite, which is the first of its kind, offering a flexible, cost-effective platform that can be easily adapted to integrate new
technologies or customized and scaled to create a new satellite design to meet mission requirements.

Our
products and services are offered through several verticals: Satellite Design and Manufacturing; Technology Design and Integration;
Space-based Data Solutions; Mission Planning and Management Operations; AI/ML Products and Services; and Space and Defense
Hardware.

Our
vertically integrated model with complementary lines of business enables us to unlock new potential revenue generating opportunities
while maintaining diversity of revenue. We are not dependent on a single line of business or customer, which provides us the “optionality”
to scale where market needs demand. This diversity mitigates risks associated with external factors like macroeconomic shifts or technological
disruptions. Our flexibility allows us to adapt swiftly to market changes, supporting growth across all our business lines.

Through
our Sidus Orlaith™ AI ecosystem, we enable near real-time on-orbit & terrestrial data processing, enhancing the speed and