Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 101

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 101
---
 are not required to provide this information.

52

ITEM
8: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

XTI
AEROSPACE, INC. AND SUBSIDIARIES (FORMERLY KNOW AS INPIXON AND SUBSIDIARIES)

INDEX
TO FINANCIAL STATEMENTS

    Page No.  ANNUAL FINANCIAL INFORMATION         Report of Independent Registered Public Accounting Firm (PCAOB NO. 688) F-2  Consolidated Balance Sheets as of December 31, 2024 and 2023 F-4  Consolidated Statements of Operations for the years ended December 31, 2024 and 2023 F-6  Consolidated Statements of Comprehensive Loss for the years ended December 31, 2024 and 2023 F-7  Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2024 and 2023 F-8  Consolidated Statements of Cash Flows for the years ended December 31, 2024 and 2023 F-10  Notes to Consolidated Financial Statements F-11 

F-1

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Shareholders and Board of Directors of

XTI
Aerospace, Inc.

Opinion
on the Financial Statements

We have audited the accompanying consolidated balance sheets of XTI
Aerospace, Inc. (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of operations, stockholders’
equity and cash flows for the years ended December 31, 2024 and 2023, and the related notes (collectively referred to as the “financial
statements”). In our opinion, based on our audits, the financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years in
the period ended December 31, 2024 and 2023, in conformity with accounting principles generally accepted in the United States of America.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight