Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 147

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 7 - Other Balance Sheet Information

Prepaid expenses and other current assets

Prepaid expenses and other current assets as
of June 30, 2025 and December 31, 2024 consisted of the following (in thousands):

    As of  June 30, 2025  
    As of December 31, 2024 
  
    AVX deposit - related party 
    $—  
    $464 
  
    Prepaid insurance 
     558  
     293 
  
    Deposits 
     317  
     88 
  
    Prepaid consulting/professional fees 
     175  
     15 
  
    Prepaid software 
     102  
     89 
  
    Other 
     138  
     69 
  
    Total prepaid expenses and other current
    assets 
    $1,290  
    $1,018 

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities
as of June 30, 2025 and December 31, 2024 consisted of the following (in thousands):

    As of June 30, 2025  
    As of December 31, 2024 
  
    Accrued transaction bonuses – Strategic Transaction Bonus Plan 
    $—  
    $4,266 
  
    Accrued transaction bonuses – related party 
     —  
     400 
  
    Accrued bonus and commissions 
     762  
     1,163 
  
    Accrued compensation and benefits 
     574  
     446 
  
    Accrued other 
     486  
     428 
  
    Total accrued expenses and other current
    liabilities 
    $1,822  
    $6,703 

18

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 8 - Debt 

The Company’s outstanding debt consisted of the following at
the periods indicated (in thousands):

  Short-Term Debt  Maturity  June 30, 2025   December 31, 2024   Promissory Note - May 1, 20241