v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 15,185 $ 16,696
Accounts receivable, net 9,051 12,093
Inventories 19,413 15,400
Prepaid expenses and other current assets 6,688 3,989
Current assets of discontinued operations (Note 16) 3,645
Total Current Assets 50,337 51,823
Property and equipment, net 417 385
Operating lease right-of-use asset, net 1,677 2,965
Intangible assets, net 9,108 9,338
Goodwill 11,544 11,544
Note receivable 4,330
Other assets 929 403
Non-current assets of discontinued operations (Note 16) 4,788
Total Assets 78,342 81,246
Current Liabilities    
Accounts payable 3,413 5,212
Accrued expenses and other current liabilities 6,879 6,165
Accrued interest 342 391
Customer deposits 2,480 3,071
Warrant liability 64,895 22,561
Operating lease obligation, current 682 550
Short-term debt 10,569 7,931
Income tax payable 1,241
Current liabilities of discontinued operations (Note 16) 1,722
Total Current Liabilities 90,951 47,603
Long Term Liabilities    
Operating lease obligation, noncurrent 1,020 2,427
Non-current liabilities of discontinued operations (Note 16) 322
Total Liabilities 91,971 50,802
Commitments and Contingencies (Note 13)
Mezzanine Equity    
Representative and placement agent warrants, net of issuance costs 2,701 2,701
Stockholders’ Equity    
Preferred Stock value
Common Stock - $0.001 par value; 500,000,000 shares authorized; 38,472,204 and 32,786,816 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 38 33
Additional paid-in capital 170,948 157,354
Accumulated other comprehensive loss 881
Accumulated deficit (197,593) (162,323)
Total Stockholders’ Equity (26,607) 17,738
Noncontrolling interest – Class B Units of XTI Drones Holdings, LLC 10,277 10,005
Total Equity (16,330) 27,743
Total Liabilities, Mezzanine Equity, and Equity 78,342 81,246
Related Party    
Current Liabilities    
Note payable-related party 450
Long Term Liabilities    
Note payable-related party 450
Series 4 Convertible Preferred Stock    
Stockholders’ Equity    
Preferred Stock value
Series 5 Convertible Preferred Stock    
Stockholders’ Equity    
Preferred Stock value
Series 10 Convertible Preferred Stock    
Stockholders’ Equity    
Preferred Stock value $ 21,793

Source

10-Q PDF
XBRL