Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 222

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 2
Chunk 222
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)
  
    Net change in operating assets and liabilities 
     770 
  
    Net cash used in operating activities 
    $(2,551)

The non-cash income and expense
of approximately $0.7 million consisted primarily of the following (in thousands):

    $13  
    Depreciation and amortization
  
     43  
    Amortization of intangible assets
  
     10  
    Amortization of right-of-use asset
  
     94  
    Non-cash interest expense, net of interest income
  
     5,792  
    Stock-based compensation
  
     (12,882) 
    Change in fair value of convertible notes payable
  
     6,732  
    Loss on extinguishment of debt
  
     (398) 
    Change in fair value of warrant liability
  
     (123) 
    Other
  
    $(719) 
    Total non-cash expenses

The net cash provided by the
change in operating assets and liabilities aggregated approximately $0.8 million and consisted primarily of the following (in thousands):

    $(143) 
    Increase in accounts receivable and other receivables
  
     (475) 
    Increase in inventories, prepaid expenses and other current assets and other assets
  
     1,662  
    Increase in accounts payable and related party payables
  
     (496) 
    Decrease in accrued expenses and other current liabilities
  
     243  
    Increase in accrued interest
  
     (13) 
    Decrease in deferred revenue
  
     (8) 
    Decrease in operating lease obligation
  
    $770  
    Net cash provided by the changes in operating assets and liabilities

Cash Flows from Investing Activities as of
March 31, 2025 and 2024

Net cash flows used in investing activities during the three months
ended March 31, 2025 was approximately $45,000. Net cash flows provided by investing activities during the three months ended March 31,
2024 was approximately $3.0 million. Cash flows related to investing activities during the three months ended March 31, 2024 consist
primarily of the cash assumed from Legacy Inpixon in connection with the XTI Merger.

48

Cash Flows from Financing Activities as of
March 31, 2025 and 2024

Net cash flows provided by
financing activities during the three months ended March 31, 202