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Sidus Space (NASDAQ: SIDU) notifies SEC of late 2025 10-K; costs rose

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
NT 10-K

Rhea-AI Filing Summary

Sidus Space, Inc. notified the SEC that it was unable to timely file its Annual Report on Form 10-K for the year ended December 31, 2025 and plans to file the 2025 Form 10-K as soon as practicable. The notification states material operating changes: cost of revenue rose 48% to $9.1 million and S,G&A rose 57% to $22.3 million for the twelve months ended December 31, 2025.

Positive

  • None.

Negative

  • None.
Period Ended December 31, 2025 Annual reporting period referenced in the notification
Cost of revenue $9.1 million Twelve months ended December 31, 2025 (up 48% vs prior year)
Prior-year cost of revenue $6.1 million Twelve months ended December 31, 2024
Related-party cost of sales (2025) $1.7 million As of December 31, 2025
Related-party cost of sales (2024) $713,000 As of December 31, 2024
Selling, general & administrative expenses $22.3 million Twelve months ended December 31, 2025 (up 57% vs prior year)
Prior-year SG&A $14.2 million Twelve months ended December 31, 2024
Form 12b-25 signature date March 31, 2026 Date the notification was signed by CFO Adarsh Parekh
Rule 12b-25 regulatory
"If the subject report could not be filed without unreasonable effort or expense"
Rule 12b-25 is an SEC filing provision that lets a company notify regulators and the public that it cannot file a required periodic report (like a quarterly or annual report) on time and explains the reason for the delay. For investors, the notice is a formal heads-up that financial information will arrive late—similar to a company calling to say it will be late turning in homework—so it signals increased uncertainty and may affect trading and risk assessments until the filing is available.
Form 10-K regulatory
"Unable to file its Annual Report on Form 10-K for the year ended December 31, 2025"
A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.
S,G&A financial
"Selling, general, and administrative expenses increased 57% for the twelve months ended December 31, 2025"

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 12b-25

 

Commission File Number: 001-41154

 

NOTIFICATION OF LATE FILING

 

☒ Form 10-K ☐ Form 20-F ☐ Form 11-K ☐ Form 10-Q
☐ Form 10-D ☐ Form N-SAR ☐ Form N-CSR  

 

For Period Ended: December 31, 2025

 

☐ Transition Report on Form 10-K ☐ Transition Report on Form 10-Q
☐ Transition Report on Form 20-F ☐ Transition Report on Form N-SAR
☐ Transition Report on Form 11-K  

 

For the Transition Period Ended: _______________________________________

 

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: _______________________________________

 

PART I

REGISTRANT INFORMATION

 

Full name of registrant Sidus Space, Inc.
Former name if applicable  
Address of principal executive office 150 N. Sykes Creek Parkway, Suite 200
City, state and zip code Merritt Island, FL 32953

 

 

 

 

 

 

PART II

RULE 12b-25 (b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25 (b), the following should be completed. (Check box if appropriate.)

 

  (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
☒ (b) The subject annual report, semi-annual report, transition report on Form 10-K, 20-F, 11-K or Form N-SAR or Form N-CSR, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
  (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III

NARRATIVE

 

State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F, 10-Q, N-SAR, N-CSR, or the transition report portion thereof, could not be filed within the prescribed time period.

 

Sidus Space, Inc. (“Sidus”) was unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”) with the Securities and Exchange Commission (“SEC”) within the prescribed time period. Sidus plans to file the 2025 Form 10-K as soon as practicable.

 

PART IV

OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification

 

Adarsh Parekh   (321)   613-5620
(Name)   (Area Code)   (Telephone Number)

 

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).

 

☒ Yes ☐ No

 

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

 

☒ Yes ☐ No

 

If so: attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

Cost of revenue increased 48% for the twelve months ended December 31, 2025 to approximately $9.1 million as compared to approximately $6.1 million for the twelve months ended December 31, 2024 and included approximately $1.7 million related party cost of sales as of December 31, 2025 and approximately $713,000 as of December 31, 2024. Selling, general, and administrative expenses increased 57% for the twelve months ended December 31, 2025 to approximately $22.3 million as compared to approximately $14.2 million for the twelve months ended December 31, 2024

 

-2-

 

 

Sidus Space, Inc.

(Name of Registrant as Specified in Charter)

 

Has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.

 

Dated: March 31, 2026   /s/ Adarsh Parekh
  By: Adarsh Parekh
  Title: Chief Financial Officer

 

-3-

 

 

Source: View Original Filing on SEC EDGAR

FAQ

Why did Sidus Space (SIDU) file a Form 12b-25?

Sidus filed a Form 12b-25 to notify the SEC it could not timely file its 2025 Form 10-K. The company stated it could not file without "unreasonable effort or expense" and plans to file the Annual Report as soon as practicable.

Does the notice say Sidus Space expects materially different results in 2025?

Yes. The notice reports operating changes including a 48% increase in cost of revenue to $9.1 million. It also reports a 57% increase in selling, general, and administrative expenses to $22.3 million for 2025.

Who signed the Form 12b-25 for Sidus Space and when?

The Form 12b-25 was signed by Adarsh Parekh, Chief Financial Officer, on March 31, 2026. Contact information listed includes a telephone number: (321) 613-5620.

Will the Form 12b-25 itself change Sidus Space's filing obligations?

No. The Form 12b-25 is a notification only and does not extend filing deadlines automatically. It informs the SEC the company intends to file the overdue 2025 Form 10-K as soon as practicable.