Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 179

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 179
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compensation expense could be materially different for future awards.

The Company incurred the following stock-based
compensation charges for the periods indicated below (in thousands):

    For the Three Months Ended 
September
    30,  
    For the Nine Months Ended
 September
    30, 

    2025  
    2024  
    2025  
    2024 
  
    Employee and consultant
    stock options1 
    $6,301  
    $(2,159) 
    $7,234  
    $(2,075)
  
    Vesting of previously unvested
    warrants2 
     —  
     —  
     —  
     270 
  
    Professional fees2 
     49  
     270  
     293  
     496 
  
    Merger-related professional fees 
     —  
     —  
     —  
     5,153 
  
    Total 
    $6,350  
    $(1,889) 
    $7,527  
    $3,844 

1Amount included in general and administrative expenses on the condensed consolidated statements of operations.

2Amount included in merger-related transaction costs on the condensed consolidated statements of operations for the three and nine months ended September 30, 2024.  Amount included in general and administrative expenses on the condensed consolidated statements of operations for the three and nine months ended September 30, 2025.

As of September 30, 2025, the total unrecognized
compensation expense related to unvested awards was approximately $14.0 million, which the Company expects to recognize over an estimated
weighted average period of 1.71 years.

23

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 12 - Warrants

The following table summarizes the activity of
warrants outstanding:

    Number of  Warrants 
  
    Beginning balance as of January 1, 2025 
     1,128 
  
    Granted 
     34,338,488 
  
    Exercised 
     (8,039,000)
  
    Expired 
     — 
  
    Exchanged 
     — 
  
    Ending balance as of September 30, 2025 
     26,