Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 82

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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    2025  
    2024 
  
    Net cash used in operating activities 
    $(21,983) 
    $(8,190)
  
    Net cash (used in) provided by investing activities 
     (103) 
     2,911 
  
    Net cash provided by financing activities 
     37,688  
     11,059 
  
    Effect of foreign exchange rate changes on cash 
     339  
     (6)
  
    Net increase in cash and cash equivalents 
    $15,941  
    $5,774 

    As of June 30, 2025  
    As of December 31, 2024 
  
    Cash and cash equivalents 
    $20,046  
    $4,105 
  
    Working capital (deficit) 
    $2,375  
    $(8,840)

47

Operating Activities for the six months ended
June 30, 2025

Net cash used in operating activities during the
three months ended June 30, 2025 was approximately $22.0 million. The cash flows related to the three months ended June 30, 2025 consisted
of the following (in thousands):

    Net loss 
    $(33,730)
  
    Non-cash income and expenses 
     17,654 
  
    Net change in operating assets and liabilities 
     (5,907)
  
    Net cash used in operating activities 
    $(21,983)

The non-cash income and expense
of approximately $17.7 million consisted primarily of the following (in thousands):

    $68  
    Depreciation and amortization
  
     152  
    Amortization of intangible assets
  
     76  
    Amortization of right-of-use asset
  
     145  
    Non-cash interest expense, net of interest income
  
     1,177  
    Stock-based compensation
  
     4,049  
    Impairment of goodwill
  
     631  
    Impairment of intangible assets
  
     421  
    Loss on extinguishment of debt
  
     5,795  
    Warrant issuance expense
  
     5,431  
    Change in fair value of warrant liability
  
     (291) 
    Other
  
    $17,654  
    Total non-cash expenses

The net cash used in the