Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 11

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 11
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 397,536 
  
    Satellite and related software 
     16,350,863  
     12,305,379 
  
    Construction in progress 
     3,414,398  
     2,883,337 
  
    Property and equipment, gross 
     24,650,422  
     20,296,292 
  
    Accumulated depreciation 
     (7,471,285) 
     (5,404,316)
  
    Property and equipment, net of accumulated depreciation 
    $17,179,137  
    $14,891,976 

As
of June 30, 2025 and December 31, 2024, construction in progress represents components to be used in the manufacturing of our satellites.

Depreciation
expense of property and equipment for the six months ended June 30, 2025 and 2024 is $2,066,969 and $858,033, of which $1,870,248 and $767,482, are
included as components of cost of revenue, respectively.

During
the six months ended June 30, 2025 and 2024, the Company purchased assets of $4,354,130 and $4,088,669, respectively.

Note
7. Accounts payable and other current liabilities

As
of June 30, 2025 and December 31, 2024, accounts payable and other current liabilities consisted of the following:

Schedule
of Accounts Payable and Other Current Liabilities

    June 30,  
    December 31, 

    2025  
    2024 
  
    Accounts payable 
    $3,614,524  
    $1,978,857 
  
    Payroll liabilities 
     1,735,387  
     907,697 
  
    Credit card liability 
     61,961  
     51,522 
  
    Other payable 
     242,054  
     165,435 
  
    Payable for purchase of property and equipment 
     16,634  
     18,799 
  
    Insurance payable 
     85,405  
     266,357 
  
    Total accrued expenses
    and other liabilities 
    $5,755,965  
    $3,388,667 

Note
8. Asset-based loan