Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 330

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 330
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is driven by technological advances in ground equipment, new business models, expanded funding, and increasing demand for high bandwidth
and lower latency. Although the satellite constellations market remains in its early stages, significant growth is anticipated in the
launch industry as companies seek versatile and cost-effective methods to deploy single satellites to specific orbits or establish their
satellite constellations. Furthermore, the expansion of the satellite constellations market is expected to benefit satellite services
offerings. LEO satellite constellations have relatively short lifespans on orbit, necessitating the launch of replenishment satellites
every few years

 50 

Results of Operations

Comparison of year ended December 31, 2024
to year ended December 31, 2023

The following table provides certain selected financial
information for the periods presented:

    Years Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Revenue 
    $4,672,646  
    $5,962,785  
    $(1,290,139) 
     (22)%
  
    Cost of revenue 
     6,141,657  
     4,321,482  
     1,820,175  
     42%
  
    Gross Profit (Loss) 
     (1,469,011) 
     1,641,303  
     (3,110,314) 
     (190)%
  
    Gross Profit Percentage 
     (31)% 
     28% 

    Selling, general & administrative expense 
     14,249,870  
     14,166,617  
     83,253  
     1%
  
    Other expense 
     (1,805,175) 
     (1,803,034) 
     (2,141) 
     0%
  
    Net loss 
    $(17,524,056) 
    $(14,328,348) 
    $(3,195,708) 
     22%

Revenue

Total revenue for the twelve months ended December
31, 2024 decreased approximately $1.3 million compared to total revenue for the twelve months ended December 31, 2023. Non-related party
revenue decreased by approximately 23% for the twelve months ended December 31, 2024, to approximately $