Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 86

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 86
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 and administrative expenses increased approximately $1.2 million when compared with the same period in 2024. This was primarily
due to the following:

    ●
    An
increase of approximately $904,000 in general and administrative labor costs and benefits to $2.5 million compared to $1.6 million in
2024. This increase was primarily driven by approximately $521,000 related to increased headcount to support the needs of the business
and $373,000 related to expense accruals associated with equity-based compensation and bonus plans implemented in Q1 2025. 

    ●
    An
increase of approximately $228,000 in mission operations related expenses to $290,000 compared to $63,000 in 2024 related to ground support
required for tracking and communicating with our multiple satellites in orbit. 

    ●
    An increase of approximately
    $129,000 in fees related to software expenses to continue to support the building of our infrastructure.

    ●
    An increase of approximately
    $38,000 in depreciation expense to approximately $98,000 compared to approximately $60,000 in 2024.

These
increases were partially offset by the following decreases:

    ●
    A decrease of approximately
    $69,000 in insurance expense to approximately $123,000 compared to approximately $192,000 in 2024 primarily related to a reduction
    in our D&O insurance rates

    ●
    A decrease of $23,000 in
    professional and outside consulting services primarily due to lower legal related expenses.

Total
other income (expenses)

Other
income and (expenses) showed an increase of other expenses of $96,490 to $334,659 compared to $238,169 in 2024 primarily due to an increase
in interest expense related to our asset-based loan, partially offset by a decrease in interest expense to the Note Payable which was
paid off in January 2025.

Six
Months Ended June 30, 2025 compared to the Six Months Ended June 30, 2024

    Six Months Ended  

    June 30,  

    2025  
    2024  
    Change  
    % 
  
    Revenue 
    $1,499,517  
    $1,977,725  
    $(478,208) 
     (24)%
  
    Cost of revenue 
     4,155,137