Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 194

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 194
---
 2025 compared
to the Six Months Ended June 30, 2024

The following table sets forth
selected consolidated financial data and as a percentage of period-over-period change:

    Six Months Ended June 30,  

    2025  
    2024  
    $  
    % 
  
    (in thousands, except percentages) 
    Amount  
    Amount  
    Change  
    Change* 
  
    Revenues 
    $1,084  
    $1,251  
    $(167) 
     (13.3)%
  
    Cost of revenues 
    $266  
    $448  
    $(182) 
     (40.6)%
  
    Gross profit 
    $818  
    $803  
    $15  
     1.9%
  
    Operating expenses 
    $22,350  
    $23,607  
    $(1,257) 
     (5.3)%
  
    Loss from operations 
    $(21,532) 
    $(22,804) 
    $1,272  
     (5.6)%
  
    Other (expense) income 
    $(12,204) 
    $5,508  
    $(17,712) 
     (321.6)%
  
    Income tax benefit (provision) 
    $6  
    $(16) 
    $22  
     (137.5)%
  
    Net loss 
    $(33,730) 
    $(17,312) 
    $(16,418) 
     94.8%

    *
    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.

43

 Revenues

The revenue amount for the periods presented represents the results
of the revenue-generating Industrial IoT segment. Revenues for the six months ended June 30, 2025 were $1.1 million compared to $1.3
million for the comparable period in the prior year for a decrease of approximately $0.2 million. This decline in revenue was primarily
attributable to supply chain disruptions caused by regional conflict in the Middle East, which impacted our Israeli supplier’s operations
and resulted in delays in hardware product deliveries to our customers.

Cost of Re