Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 0

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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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  June 30, 2025  
    As of December 31, 2024 

    (Unaudited)  

    Assets 

    Current Assets 

    Cash and cash equivalents 
    $20,046  
    $4,105 
  
    Accounts receivable, net of allowance for credit losses of $45 and $18 as of June 30, 2025 and December 31, 2024, respectively 
     338  
     706 
  
    Other receivables 
     48  
     538 
  
    Inventories 
     2,490  
     2,214 
  
    Prepaid expenses and other current assets 
     1,290  
     1,018 

    Total Current Assets 
     24,212  
     8,581 

    Property and equipment, net 
     255  
     206 
  
    Operating lease right-of-use asset, net 
     266  
     340 
  
    Intangible assets, net 
     1,223  
     1,884 
  
    Goodwill 
     9,143  
     12,072 
  
    Other assets 
     349  
     1,208 

    Total Assets 
    $35,448  
    $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  June 30, 2025  
    As of December 31, 2024 

    (Unaudited)  

    Liabilities, Mezzanine Equity, and Stockholders’ Equity 

    Current Liabilities 

    Accounts payable 
    $2,685  
    $5,487 
  
    Related party payables 
     —  
     51 
  
    Accrued expenses and other current liabilities