Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 326

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 2
Chunk 326
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30, 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(30,356) 
    $(14,305)
  
    Net cash (used in) provided by investing activities 
     (126) 
     2,875 
  
    Net cash provided by financing activities 
     58,568  
     11,928 
  
    Effect of foreign exchange rate changes on cash 
     7  
     8 
  
    Net increase in cash and cash equivalents 
    $28,093  
    $506 

    As of September 30, 2025  
    As of December 31, 2024 
  
    Cash and cash equivalents 
    $32,198  
    $4,105 
  
    Working capital (deficit) 
    $1,104  
    $(8,840)

49

Operating Activities for the nine months ended
September 30, 2025

Net cash used in operating
activities during the nine months ended September 30, 2025 was approximately $30.4 million. The cash flows related to the nine months
ended September 30, 2025 consisted of the following (in thousands):

    Net loss 
    $(47,176)
  
    Non-cash income and expenses 
     23,062 
  
    Net change in operating assets and liabilities 
     (6,242)
  
    Net cash used in operating activities 
    $(30,356)

The non-cash income and expense
of approximately $23.1 million consisted primarily of the following (in thousands):

    $103  
    Depreciation and amortization
  
     206  
    Amortization of intangible assets
  
     100  
    Amortization of right-of-use asset
  
     145  
    Non-cash interest expense, net of interest income
  
     7,527  
    Stock-based compensation
  
     4,049  
    Impairment of goodwill
  
     631  
    Impairment of intangible assets
  
     421  
    Loss on extinguishment of debt
  
     6,580  
    Warrant issuance expense
  
     3,280  
    Change in fair value of warrant liability
  
     20  
    Unrealized gain on foreign currency transactions and other income and expense
    items
  
    $23,062