Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 539

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 539
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 of adjusted EBITDA. We use adjusted EBITDA
in order to evaluate our operating performance and make strategic decisions regarding future direction of the company since it provides
a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as net income (as determined by U.S. GAAP) adjusted
for interest expense, depreciation and amortization expense, acquisition deal costs, severance costs, capital market and advisory fees,
equity-based compensation and warrant costs. These non-GAAP measures may be different from non-GAAP measures made by other companies
since not all companies will use the same measures. Therefore, these non-GAAP measures should not be considered in isolation or as a
substitute for relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis.

 52 

The following table reconciles adjusted EBITDA to
net loss (the most comparable GAAP measure) for the twelve months ended December 31 2024, and 2023:

    Twelve Months Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Net Income / (Loss) 
    $(17,524,056) 
    $(14,328,348) 
    $(3,195,708) 
     22%
  
    Interest Expense (i) 
     1,306,252  
     903,136  
     403,116  
     45%
  
    Depreciation and Amortization (ii) 
     2,171,873  
     217,107  
     1,954,766  
     900%
  
    Acquisition Deal Costs (iii)_ 
     -  
     220,632  
     (220,632) 
     -100%
  
    Capital raise expense (iv) 
     805,322  
     927,875  
     (122,553) 
     -13%
  
    Warrant costs underwriter (v) 
     -  
     917,848  
     (917,848) 
     -100%
  
    Severance Costs 
     22,201  
     147,222  
     (125,021) 
     -85%
  
    Equity based compensation (vi) 
     309