Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 116

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 116
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,
based upon factors surrounding the credit risk of its customers, establishes an allowance for credit losses.

The
customers who account for 10% or more of the Company’s revenue for the year ended December 31, 2024 or 10% or more of the Company’s
outstanding receivable balance as of December 31, 2024 are presented as follows:

    Percentage
    of revenues  
    Percentage
    of accounts receivable 
  
    Customer 
    Year
    Ended December 31, 2024  
    As
    of December 31, 2024 
  
    A 
     23% 
     31%
  
    B 
     11% 
     ** 
  
    C 
     14% 
     22%
  
    D 
     13% 
     ** 

**Represents less than 10% of the total for the respective period

The
Company did not have revenue for the year ended December 31, 2023. The Company did not have outstanding trade receivables as of December
31, 2023.

The
vendors who account for 10% or more of the Company’s purchases or 10% or more of the Company’s outstanding payable balance
are presented as follows for the periods indicated:

    Percentage
    of purchases  
    Percentage
    of accounts payable 
  
    Vendor 
    Year
    Ended December 31, 2024  
    As
    of December 31, 2024 
  
    A 
     **  
     31%
  
    B 
     **  
     11%
  
    C 
     11% 
     ** 

    Percentage
    of purchases  
    Percentage
    of accounts payable 
  
    Vendor 
    Year
    Ended December 31, 2023  
    As
    of December 31, 2023 
  
    A 
     38% 
     62%
  
    B 
     **  
     23%

**Represents
                                            less than 10% of the total for the respective period

F-13

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

Business
Combinations

The
Company accounts for business