Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 326

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 326
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 $0.001 par value; 500,000,000 shares authorized; 1,685,021 and 12,791 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively. 
     2  
     — 
  
    Additional
    paid-in capital 
     99,425  
     26,330 
  
    Accumulated
    other comprehensive loss 
     (622) 
     — 
  
    Accumulated
    deficit 
     (93,562) 
     (57,959)

    Total
    Stockholders’ Equity (Deficit) 
     6,574  
     (31,629)

    Total
    Liabilities and Stockholders’ Equity 
    $24,291  
    $509 

The
accompanying notes are an integral part of these consolidated financial statements

F-5

XTI
AEROSPACE, INC. AND SUBSIDIARIES 

CONSOLIDATED
STATEMENTS OF OPERATIONS

(In
thousands, except per share data)

    For
    the Years Ended
    December 31, 

    2024  
    2023 
  
    Revenues 
    $3,202  
    $— 

    Cost
    of Revenues 
     1,314  
     — 

    Gross
    Profit 
     1,888  
     — 

    Operating
    Expenses 

    Research and development 
     3,996  
     1,381 
  
    Sales and marketing 
     3,231  
     721 
  
    General and administrative 
     22,022  
     3,615 
  
    Merger-related transaction
    costs 
     6,490  
     1,845 
  
    Impairment of intangible
    assets 
     2,507  
     — 
  
    Amortization
    of intangible assets 
     622  
     27 

    Total
    Operating Expenses 
     38,868  
     7,589 

    Loss
    from Operations 
     (36,980) 
     (7,589)

    Other
    Income (Expense) 

    Interest expense 
     (1,146) 
     (