Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 2

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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     99,425 
  
    Accumulated other comprehensive loss 
     (155) 
     (622)
  
    Accumulated deficit 
     (106,434) 
     (93,562)

    Total Stockholders’ Equity 
     13,929  
     6,574 

    Total Liabilities, Mezzanine Equity, and Stockholders’ Equity 
    $27,127  
    $24,291 

The accompanying notes are an integral part of
these Condensed Consolidated Financial Statements

2

XTI AEROSPACE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

    For the Three Months Ended March 31, 

    2025  
    2024 

    (Unaudited) 
  
    Revenues 
    $484  
    $220 

    Cost of Revenues 
     149  
     79 

    Gross Profit 
     335  
     141 

    Operating Expenses 

    Research and development 
     1,714  
     464 
  
    Sales and marketing 
     1,021  
     304 
  
    General and administrative 
     7,380  
     1,717 
  
    Merger-related transaction costs 
     —  
     6,490 
  
    Impairment of intangible assets 
     531  
     — 
  
    Amortization of intangible assets 
     91  
     43 

    Total Operating Expenses 
     10,737  
     9,018 

    Loss from Operations 
     (10,402) 
     (8,877)

    Other (Expense) Income 

    Interest expense, net 
     (217) 
     (261)
  
    Amortization of deferred loan costs 
     —  
     (17)
  
    Loss on extinguishment of debt 
     (421) 
     (6,732)
  
    Warrant issuance expense 
     (2,016) 
     — 
  
    Change in fair value of warrant liability 
     503  
     398 
  
    Change in fair value of convertible notes payable 
     —  
     12,882