Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 98

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 98
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 have relatively short lifespans
on orbit, necessitating the launch of replenishment satellites every few years

Results
of Operations

Comparison
of quarter ended March 31, 2025, to quarter ended March 31, 2024

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

    Three Months Ended  

    March 31,  

    2025  
    2024  
    Change  
    % 
  
    Revenue 
    $238,494  
    $1,050,155  
    $(811,661) 
     (77)%
  
    Cost of revenue 
     1,866,972  
     966,091  
     900,881  
     93%
  
    Gross Profit (Loss) 
     (1,628,478) 
     84,064  
     (1,712,542) 
     (2037)%
  
    Gross Profit Percentage 
     (683)% 
     8% 

    Selling, General & Administrative expense 
     4,444,442  
     3,645,583  
     798,859  
     22%
  
    Other expense 
     (341,707) 
     (248,981) 
     (92,726) 
     37%
  
    Net loss 
    $(6,414,627) 
    $(3,810,500) 
    $(2,604,127) 
     68%

Revenue

Total
revenue for the three months ended March 31, 2025 decreased approximately $811,000 compared to the three months ended March 31, 2024.
Non-related party revenue decreased by approximately 81% for the three months ended March 31, 2025, to approximately $161,000 as compared
to approximately $845,000 for the three months ended March 31, 2024. This was primarily driven by the timing of fixed price milestone
contracts revenue. Related party revenue decreased 62% to approximately $78,000 for the three months ended March 31, 2025 versus approximately
$205,000 for the three months ended March 31, 2024. This was influenced by the timing of fixed-price milestone contracts and a reduction
in the number of contracts our related party secured with its customers, leading to decreased outsourcing of work