Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 221

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 2
Chunk 221
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 Net change in operating assets and liabilities 
     (5,614)
  
    Net cash used in operating activities 
    $(15,242)

The non-cash income and expense
of approximately $3.0 million consisted primarily of the following (in thousands):

    $32  
    Depreciation and amortization
  
     91  
    Amortization of intangible assets
  
     53  
    Amortization of right-of-use asset
  
     145  
    Non-cash interest expense, net of interest income
  
     455  
    Stock-based compensation
  
     531  
    Impairment of intangible assets
  
     421  
    Loss on extinguishment of debt
  
     2,016  
    Warrant issuance expense
  
     (503) 
    Change in fair value of warrant liability
  
     3  
    Other
  
    $3,244  
    Total non-cash expenses

The net cash used in the
change in operating assets and liabilities aggregated approximately $5.6 million and consisted primarily of the following (in thousands):

    $157  
    Decrease in accounts receivable and other receivables
  
     (265) 
    Increase in inventories, prepaid expenses and other current assets and other assets
  
     (675) 
    Decrease in accounts payable and related party payables
  
     (4,892) 
    Decrease in accrued expenses and other current liabilities
  
     67  
    Increase in accrued interest
  
     46  
    Increase in deferred revenue
  
     (52) 
    Decrease in operating lease obligation
  
    $(5,614) 
    Net cash used in the changes in operating assets and liabilities

The decrease in accrued expenses and other current liabilities of approximately
$4.9 million was mainly attributable to (i) cash payments to settle the remaining accrued transaction bonuses and consulting fees owed
to prior Legacy Inpixon executives, and (ii) payment of accrued employee bonuses.

47

Operating Activities for the three months ended
March 31, 2024

Net cash used in operating
activities during the three months ended March 31, 2024 was approximately $2.6 million. The cash flows related to the three months ended
March 31, 2024 consisted of the following (in thousands):

    Net loss 
    $(2,602)
  
    Non-cash income and expenses 
     (719