Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 166

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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 provided by financing activities 
     19,173  
     1,390 
  
    Effect of foreign exchange rate changes on cash 
     17  
     (1)
  
    Net increase in cash and cash equivalents 
    $3,903  
    $1,796 

    As of
March 31,
2025  
    As of
December 31,
2024 
  
    Cash and cash equivalents 
    $8,008  
    $    4,105 
  
    Working capital (deficit) 
    $12  
    $(8,840)

46

Operating Activities for the three months ended
March 31, 2025

Net cash used in operating activities during the
three months ended March 31, 2025 was approximately $15.2 million. The cash flows related to the three months ended March 31, 2025 consisted
of the following (in thousands):

    Net loss 
    $(12,872)
  
    Non-cash income and expenses 
     3,244 
  
    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