Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 214

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 2
Chunk 214
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 revenues 
    $149  
    $79  
    $70  
     88.6%
  
    Gross profit 
    $335  
    $141  
    $194  
     137.6%
  
    Operating expenses 
    $10,737  
    $9,018  
    $1,719  
     19.1%
  
    Loss from operations 
    $(10,402) 
    $(8,877) 
    $(1,525) 
     17.2%
  
    Other (expense) income 
    $(2,485) 
    $6,279  
    $(8,764) 
     (139.6)%
  
    Provision for income taxes 
    $15  
    $(4) 
    $19  
     (475.0)%
  
    Net loss 
    $(12,872) 
    $(2,602) 
    $(10,270) 
     394.7%

*Amounts used to calculate dollar and percentage changes are based on numbers in the thousands. Accordingly,
calculations in this item, which may be rounded to the nearest hundred thousand, may not produce the same results.

Revenues

Revenues for the three months
ended March 31, 2025 were $0.5 million compared to $0.2 million for the comparable period in the prior year for an increase of approximately
$0.3 million. The revenue amount for the three months ended March 31, 2025 and 2024 represents the results of the revenue-generating Industrial
IoT segment.

Cost of Revenues

Cost of revenues for the three
months ended March 31, 2025 were $0.1 million compared to $0.1 million for the comparable period in the prior year. The cost of revenues
represents the results of the revenue-generating Industrial IoT segment.

Gross Profit

Gross profit for the three
months ended March 31, 2025 was $0.3 million compared to $0.1 million
for the comparable period in the prior year, an increase of approximately $0.2 million, which is consistent with the increase in
revenue. The gross profit amount represents the results of the revenue-generating Industrial IoT segment. The gross margin percentage
was 69.2% and 64.1% for the three months ended March 31, 2025 and