Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 37

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 37
---
 liability and other insurance, accrued consulting fees and transaction bonuses relating to former Legacy Inpixon executives,
professional fees and other similar corporate expenses.

28

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

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

    Three Months Ended March 31, 2025 

    Industrial  
    Commercial  
    Unallocated  

    IoT  
    Aviation  
    Costs  
    Total 
  
    Revenue 
    $484  
    $—  
    $—  
    $484 
  
    Cost of revenues 
     149  
     —  
     —  
     149 
  
    Gross Profit 
     335  
     —  
     —  
     335 
  
    Operating expenses 

    Research and development 
     590  
     1,124  
     —  
     1,714 
  
    Sales and marketing 
     746  
     53  
     222  
     1,021 
  
    General and administrative 
     585  
     549  
     6,246  
     7,380 
  
    Impairment of intangible assets 
     531  
     —  
     —  
     531 
  
    Other expenses(1) 
     57  
     8  
     26  
     91 
  
    Total operating expenses 
     2,509  
     1,734  
     6,494  
     10,737 
  
    Loss from operations 
    $(2,174) 
    $(1,734) 
    $(6,494) 
    $(10,402)

  (1) Other expenses include amortization of intangibles. 

    Three Months Ended March 31, 2024 

    Industrial  
    Commercial  
    Unallocated  

    IoT  
    Aviation  
    Costs  
    Total 
  
    Revenue 
    $220  
    $—  
    $—  
    $220 
  
    Cost of revenues 
     79  
     —  
     —  
     79