Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 68

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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     1,390 
  
    Effect of foreign exchange rate changes on cash 
     17  
     (1)
  
    Net increase in cash and cash equivalents 
    $3,903  
    $1,796 

    As of
March 31,
2025  
    As of
December 31,
2024 
  
    Cash and cash equivalents 
    $8,008  
    $    4,105 
  
    Working capital (deficit) 
    $12  
    $(8,840)

46

Operating Activities for the three months ended
March 31, 2025

Net cash used in operating activities during the
three months ended March 31, 2025 was approximately $15.2 million. The cash flows related to the three months ended March 31, 2025 consisted
of the following (in thousands):

    Net loss 
    $(12,872)
  
    Non-cash income and expenses 
     3,244 
  
    Net change in operating assets and liabilities 
     (5,614)
  
    Net cash used in operating activities 
    $(15,242)

The non-cash income and expense
of approximately $3.0 million consisted primarily of the following (in thousands):

    $32  
    Depreciation and amortization
  
     91  
    Amortization of intangible assets
  
     53  
    Amortization of right-of-use asset
  
     145  
    Non-cash interest expense, net of interest income
  
     455  
    Stock-based compensation
  
     531  
    Impairment of intangible assets
  
     421  
    Loss on extinguishment of debt
  
     2,016  
    Warrant issuance expense
  
     (503) 
    Change in fair value of warrant liability
  
     3  
    Other
  
    $3,244  
    Total non-cash expenses

The net cash used in the
change in operating assets and liabilities aggregated approximately $5.6 million and consisted primarily of the following (in thousands):

    $157  
    Decrease in accounts receivable and other receivables
  
     (265) 
    Increase in inventories, prepaid expenses and other current assets and other assets
  
     (675) 
    Decrease in accounts payable and related party payables
  
     (4,892) 
    Decrease