Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 64

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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net cash used by operating activities for the three months ended March 31, 2025 of $15.2 million.

43

The breakdown of our working
capital as of the periods indicated below is as follows (in thousands):

    Working Capital 
    March
31,
2025  
    December 31, 2024  
    $ Change 
  
    Current Assets 

    Cash and cash equivalents 
    $8,008  
    $4,105  
    $3,903 
  
    Accounts receivable, net 
     573  
     706  
     (133)
  
    Other receivables 
     21  
     538  
     (517)
  
    Inventories 
     2,318  
     2,214  
     104 
  
    Prepaid expenses and other current assets 
     1,607  
     1,018  
     589 

    Total Current Assets 
     12,527  
     8,581  
     3,946 

    Current Liabilities 

    Accounts payable and related party payables 
     3,866  
     5,538  
     (1,672)
  
    Accrued expenses and other current liabilities 
     1,616  
     6,703  
     (5,087)
  
    Accrued interest 
     342  
     522  
     (180)
  
    Customer deposits 
     1,350  
     1,350  
     — 
  
    Warrant liability 
     4,442  
     —  
     4,442 
  
    Operating lease obligation, current 
     91  
     119  
     (28)
  
    Deferred revenue 
     808  
     532  
     276 
  
    Short-term debt 
     —  
     2,657  
     (2,657)

    Total Current Liabilities 
     12,515  
     17,421  
     (4,906)

    Net Working Capital (Deficit) 
    $12  
    $(8,840) 
    $8,852 

Balance Sheet Improvement

During the three months ended
March 31, 2025, we raised approximately $23.