Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 0

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

XTI
AEROSPACE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED
BALANCE SHEETS

(In thousands, except
number of shares and par value data)

    As of  September 30, 2025  
    As of December 31, 2024 

    (Unaudited)  

    Assets 

    Current Assets 

    Cash and cash equivalents 
    $32,198  
    $4,105 
  
    Accounts receivable, net of allowance for credit losses of $37 and $18 as of September 30, 2025 and December 31, 2024, respectively 
     2,095  
     706 
  
    Other receivables 
     38  
     538 
  
    Inventories 
     1,433  
     2,214 
  
    Prepaid expenses and other current assets 
     918  
     1,018 

    Total Current Assets 
     36,682  
     8,581 

    Property and equipment, net 
     242  
     206 
  
    Operating lease right-of-use asset, net 
     243  
     340 
  
    Intangible assets, net 
     1,169  
     1,884 
  
    Goodwill 
     9,160  
     12,072 
  
    Other assets 
     435  
     1,208 

    Total Assets 
    $47,931  
    $24,291 

The accompanying notes are an integral part of
these Condensed Consolidated Financial Statements.

1

XTI AEROSPACE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(In thousands, except number of shares and
par value data)

    As of  September 30, 2025  
    As of December 31, 2024 

    (Unaudited)  

    Liabilities, Mezzanine Equity, and Stockholders’ Equity 

    Current Liabilities 

    Accounts payable 
    $2,560  
    $5,487 
  
    Related party payables 
     —  
     51 
  
    Accrued expenses and other current liabilities 
     2,263