Company: SIDU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023543
Chunk: 91

Company: Sidus Space Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 91
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 in Q1 2025
    and $203,000 related to employee severance costs.

    ●
    An
    increase of approximately $347,000 in mission operations related expenses to $952,000 compared to $604,000 in 2024 related to ground
    support required for tracking and communicating with our multiple satellites in orbit. 

    ●
    An
    increase of approximately $177,000 in consulting and outside services expense due to business development and sales consulting services
    as well as temporary office and operations related labor.

    ●
    An
    increase of approximately $151,000 in fees related to rebooking and payment timing with our launch provider and fees related to the
    January 2025 payoff of our note payable. Total fees were $188,000 compared to $36,000 in 2024.

    ●
    An
    increase of approximately $129,000 in depreciation expense to approximately $292,000 compared to approximately $163,000 in 2024.

These
increases were partially offset by the following decreases:

    ●
    A
    decrease of approximately $252,000 in professional and outside consulting services to $527,000 compared to $778,000 in 2024 primarily
    related to lower outside accounting related expenses.

    ●
    A
    decrease of $138,000 in insurance expense primarily related to a decrease in our D&O insurance rates. 

    ●
    A
    decrease of approximately $113,000 in fundraising related expense to $298,000 in 2025 due to timing of capital raises.

41

Total
other income (expenses)

Other
income and (expenses) showed a net decrease of $139,282 to $1,078,559 compared to $1,217,841 in 2024 primarily due to a decrease in interest
expense related to the Note Payable which was paid off in January 2025 and an increase in interest income. This was partially offset
by increase in interest expense related to our asset-based loan.

NON-GAAP
MEASURES

To
provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures
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