Company: SIDU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024043
Chunk: 85

Company: Sidus Space Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 85
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,056,814  
     1,206,455  
     39%
  
    Other income (expense) 
     (334,659) 
     (238,169) 
     (96,490) 
     41%
  
    Net loss 
    $(5,625,070) 
    $(4,136,084) 
    $(1,488,986) 
     36%

Revenue

Total
revenue for the three months ended June 30, 2025 increased approximately $333,000 compared to the three months ended June 30, 2024. Non-related
party revenue decreased by approximately 17% for the three months ended June 30, 2025, to approximately $691,000 as compared to approximately
$835,000 for the three months ended June 30, 2024. This was primarily driven by the timing of fixed price milestone contracts revenue.
Related party revenue increased 514% to approximately $570,000 for the three months ended June 30, 2025 versus approximately $93,000
for the three months ended June 30, 2024. This was influenced by the timing of fixed-price milestone contracts.

Cost
of Revenue

Cost
of revenue increased 29% for the three months ended June 30, 2025 to approximately $2.3 million as compared to approximately $1.8 million
for the three months ended June 30, 2024 and included approximately $318,000 related party cost of sales as of June 30, 2025 and approximately
$47,000 as of June 30, 2024. The overall increase in cost of revenue was primarily driven by a mix of contracts of varying types, satellite
and related software depreciation expense increase of approximately $486,000 versus 2024 and continued increased supply chain related
costs in the manufacturing side of our business.

Gross
Profit (Loss)

The
22% decrease in our gross profit for the three months ended June 30, 2025 to a loss of approximately $1.0 million as compared to a loss
of approximately $841,000 for the three months ended June 30, 2024, was driven primarily by higher satellite and related depreciation
costs, our mix of varying types of contracts with higher material and labor expenses and a decrease in our higher margin business.

38

Selling,
General, and Administrative Expenses

Selling,
general,