Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 597

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 597
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AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

The
following tables reflect the results of operations from our business segments for the periods indicated below (in thousands):

    December
    31, 2024 

    Industrial  
    Commercial  
    Unallocated  

    IoT  
    Aviation  
    Costs  
    Total 
  
    Revenue 
    $3,202  
    $—  
    $—  
    $3,202 
  
    Cost of revenues 
     1,314  
     —  
     —  
     1,314 
  
    Gross Profit 
     1,888  
     —  
     —  
     1,888 
  
    Operating expenses 

    Research and development 
     2,026  
     1,970  
     —  
     3,996 
  
    Sales and marketing 
     1,714  
     324  
     1,193  
     3,231 
  
    General and administrative 
     2,362  
     (741) 
     20,401  
     22,022 
  
    Impairment of intangible
    assets 
     2,507  
     —  
     —  
     2,507 
  
    Other expenses(1) 
     426  
     6,525  
     161  
     7,112 
  
    Total operating expenses 
     9,035  
     8,078  
     21,755  
     38,868 
  
    Loss
    from operations 
    $(7,147) 
    $(8,078) 
    $(21,755) 
    $(36,980)

(1)Other expenses include merger-related transaction costs and amortization of intangibles.

    December
    31, 2023 

    Industrial  
    Commercial  
    Unallocated  

    IoT  
    Aviation  
    Costs  
    Total 
  
    Revenue 
    $         —  
    $     —  
    $       —  
    $