Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 53

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 53
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     3009%
  
    Equity based compensation (iiii) 
     436,690  
     160,027  
     276,663  
     173%
  
    Total Non-GAAP Adjustments 
     3,418,924  
     2,083,598  
     1,335,325  
     64%
  
    Adjusted EBITDA 
     (8,620,773) 
     (5,862,986) 
     (2,757,788) 
     47%

    (i)
    Sidus
    Space incurred increased interest expense due to short-term note payable due in Q4 2024 and interest expense related to an asset
    based loan.
  
    (ii)
    Sidus
    Space incurred increased depreciation expense 2024 with launch and deployment of satellite fixed asset and related satellite software,
    as well as new ERP software capitalization.
  
    (iii)
    Sidus
    Space incurred internal Fundraising expense related to multiple capital raises in 2024
  
    (iiii)
    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 June 30, 2025, and December 31, 2024

    June 30,  
    December 31,  

    2025  
    2024  
    Change  
    % 
  
    Current assets 
    $11,171,838  
    $22,252,552  
    $(11,080,714) 
     (50)%
  
    Current liabilities 
    $14,779,518  
    $14,209,502  
    $570,016  
     4%
  
    Working capital (deficiency) 
    $(3,607,680) 
    $8,043,050  
    $(11,650,730) 
     (145)%

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 $72.