Company: SIDU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023543
Chunk: 94

Company: Sidus Space Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 94
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 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 lower internal Fundraising expense related to timing of capital raises in 2025 versus 2024.
  
    (iv)
    Sidus Space incurred increased equity based compensation expense due to incentive programs implemented by the Board in 2025.

Liquidity
and Capital Resources

The
following table provides selected financial data about us as of September 30, 2025, and December 31, 2024.

    September 30,  
    December 31,  

    2025  
    2024  
    Change  
    % 
  
    Current assets 
    $21,133,582  
    $22,252,552  
    $(1,118,970) 
     (5)%
  
    Current liabilities 
    $15,363,768  
    $14,209,502  
    $1,154,266  
     8%
  
    Working capital (deficiency) 
    $5,769,814  
    $8,043,050  
    $(2,273,236) 
     (28)%

Liquidity
is the ability of a company to generate funds to support asset growth, satisfy disbursement needs, maintain reserve requirements, and
otherwise operate on an ongoing basis. We had insufficient operating revenues, so we are currently dependent on debt financing and sale
of equity to fund operations.

We
had an accumulated deficit of approximately $78.4 million and working capital of approximately $5.8 million as of September 30, 2025
compared to accumulated deficit of approximately $60.3 million and working capital of approximately $8.0 million as of December 31, 2024.
As of September 30, 2025, we had approximately $12.7 million of cash as compared to approximately $15.7 million as of December 31, 2024.

As
of September 30, 2025 working capital is primarily due to funds raised in our September capital raise partially offset by the build out
of our LizzieSat satellites in anticipation of additional upcoming launches. As of December 31, 2024, our working capital