Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 233

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 233
---
 balances
as of the end of those periods are as follows (in thousands):

    For the Nine Months Ended
    September 30, 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(30,356) 
    $(14,305)
  
    Net cash (used in) provided by investing activities 
     (126) 
     2,875 
  
    Net cash provided by financing activities 
     58,568  
     11,928 
  
    Effect of foreign exchange rate changes on cash 
     7  
     8 
  
    Net increase in cash and cash equivalents 
    $28,093  
    $506 

    As of September 30, 2025  
    As of December 31, 2024 
  
    Cash and cash equivalents 
    $32,198  
    $4,105 
  
    Working capital (deficit) 
    $1,104  
    $(8,840)

49

Operating Activities for the nine months ended
September 30, 2025

Net cash used in operating
activities during the nine months ended September 30, 2025 was approximately $30.4 million. The cash flows related to the nine months
ended September 30, 2025 consisted of the following (in thousands):

    Net loss 
    $(47,176)
  
    Non-cash income and expenses 
     23,062 
  
    Net change in operating assets and liabilities 
     (6,242)
  
    Net cash used in operating activities 
    $(30,356)

The non-cash income and expense
of approximately $23.1 million consisted primarily of the following (in thousands):

    $103  
    Depreciation and amortization
  
     206  
    Amortization of intangible assets
  
     100  
    Amortization of right-of-use asset
  
     145  
    Non-cash interest expense, net of interest income
  
     7,527  
    Stock-based compensation
  
     4,049  
    Impairment of goodwill
  
     631  
    Impairment of intangible assets
  
     421  
    Loss on extinguishment of debt
  
     6,580  
    Warrant issuance expense
  
     3,280  
    Change in fair value of warrant liability