Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 41

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 sale of real-time location system solutions for the industrial sector and its customers are primarily located
in Germany and the U.S. As it relates to the Industrial IoT segment, the results disclosed in the table below only reflect activity following
the XTI Merger closing through the September 30, 2025 reporting date.

Information on each of our reportable segments
and reconciliation to consolidated loss from operations is presented in the table below. We have assigned certain previously reported
expenses to each segment to conform to the way we internally manage and monitor our business. Unallocated operating expenses include
costs that are not specific to a particular segment but are general to the group; included expenses incurred for administrative and accounting
staff, general liability and other insurance, accrued consulting fees and transaction bonuses relating to former Legacy Inpixon executives,
professional fees and other similar corporate expenses.

The following tables reflect the results of operations
from our business segments for the periods indicated below (in thousands):

    Three Months Ended September 30,
    2025 

    Industrial  
    Commercial  
    Unallocated  

    IoT  
    Aviation  
    Costs  
    Total 
  
    Revenue 
    $2,484  
    $—  
    $—  
    $2,484 
  
    Cost of revenues 
     1,407  
     —  
     —  
     1,407 
  
    Gross Profit 
     1,077  
     —  
     —  
     1,077 
  
    Operating expenses 

    Research and development 
     536  
     1,449  
     —  
     1,985 
  
    Sales and marketing 
     669  
     847  
     1,225  
     2,741 
  
    General and administrative 
     792  
     283  
     10,031  
     11,106 
  
    Impairment of goodwill 
     —  
     —  
     —  
     — 
  
    Impairment of intangible assets 
     —  
     —  
     —  
     — 
  
    Other
    expenses(1) 
     43  
     8  
     3  
     54 
  
    Total operating expenses 
     2,040