Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 145

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 145
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 (293)   663    5.4   Customer Relationships   137    (36)   -    101    3.7   In-Process R&D   243    (20)   (223)   -    -   Totals  $2,729   $(875)  $(631)  $1,223       

    December 31, 2024 

    Gross Amount  
    Accumulated Amortization  
    Impairment  
    Net Carrying Amount 
  
    Patents 
    $468  
    $(184) 
    $—  
    $284 
  
    Trade Name/Trademarks 
     897  
     (142) 
     (451) 
     304 
  
    Proprietary Technology 
     2,860  
     (326) 
     (1,583) 
     951 
  
    Customer Relationships 
     684  
     (109) 
     (473) 
     102 
  
    In-Process R&D 
     243  
     —  
     —  
     243 
  
    Totals 
    $5,152  
    $(761) 
    $(2,507) 
    $1,884 

Amortization expense for the three and six months
ended June 30, 2025 was approximately $0.06 million and $0.15 million, respectively. Amortization expense for the three and six months
ended June 30, 2024 was approximately $0.19 million and $0.23 million, respectively.

Future amortization expense on intangibles assets is anticipated
to be as follows (in thousands):

    Year ending December 31, 
    Amount 
  
    2025 (for 6 months) 
    $112 
  
    2026 
     224 
  
    2027 
     224 
  
    2028 
     224 
  
    2029 
     173 
  
    2030 and thereafter 
     266 
  
    Total 
    $1,223 

The Company tests for impairment if a change in circumstances or the
occurrence of events indicates that potential impairment exists. In accordance with ASC 360