Company: SIDU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023543
Chunk: 93

Company: Sidus Space Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 93
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 payable due in Q4 2024
    and increased interest income, partially offset by increased interest expense related to an asset based loan.
  
    (ii)
    Sidus
    Space incurred increased depreciation expense in 2025 with the launch and deployment of satellite fixed assets and related satellite
    software, as well as new ERP software capitalization.
  
    (iii)
    Sidus
    Space incurred internal Fundraising expense related to multiple 2025 capital raises 
  
    (iv)
    Sidus
    Space incurred increased equity based compensation expense due to incentive programs implemented by the Board in 2025.

42

    Nine Months Ended  

    September 30,  

    2025  
    2024  
    Change  
    % 
  
    Net Income / (Loss) 
    $(18,073,296) 
    $(11,849,173) 
    $(6,224,123) 
     52%
  
    Interest Income/Expense (i) 
     1,078,918  
     1,234,789  
     (155,871) 
     (12)%
  
    Depreciation and Amortization (ii) 
     3,224,809  
     1,494,448  
     1,730,361  
     116%
  
    Fundraising expense (iii) 
     323,270  
     560,322  
     (237,052) 
     (42)%
  
    Severance Costs 
     213,743  
     10,701  
     203,042  
     1897%
  
    Equity based compensation (iv) 
     625,305  
     236,040  
     389,265  
     165%
  
    Total Non-GAAP Adjustments 
     5,466,044  
     3,536,300  
     1,929,744  
     55%
  
    Adjusted EBITDA 
     (12,607,252) 
     (8,312,873) 
     (4,294,379) 
     51%

    (i)
    Sidus Space incurred decreased interest income/expense due to lower interest expense from a short-term note payable due in Q4 2024 and increased interest income, partially offset by increased