UPDATED UNAUDITED SELECTED FINANCIAL DATA
Published on February 13, 2025
Exhibit 99.1
UNAUDITED SELECTED FINANCIAL DATA
Reverse Stock Split
On January 10, 2025, XTI Aerospace, Inc. (“Company”) effected a 1-for-250 reverse stock split (“Reverse Stock Split”) of its outstanding common stock.
The Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023, the audited financial statements of XTI Aircraft Company included in the Company’s Current Report on Form 8-K/A filed with the SEC on May 28, 2024, and the Company’s unaudited condensed consolidated financial statements included in its Quarterly Reports on Form 10-Q for the three month period ended March 31, 2024, three and six month period ended June 30, 2024, and three and nine month period ended September 30, 2024, are presented without giving effect to the Reverse Stock Split.
The following selected financial data has been derived from the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 16, 2024, the audited financial statements of XTI Aircraft Company included in the Company’s Current Report on Form 8-K/A filed with the SEC on May 28, 2024, and the Company’s unaudited condensed consolidated financial statements included in its Quarterly Reports on Form 10-Q for the three month period ended March 31, 2024, filed with the SEC on May 20, 2024, the three and six month period ended June 30, 2024, filed with the SEC on August 14, 2024, and for the three and nine month period ended September 30, 2024, filed with the SEC on November 14, 2024, and adjusted to reflect the Reverse Stock Split. The Company’s historical results may not be indicative of the results that may be expected in the future.
AS REPORTED (in thousands, except share and per share amounts)
XTI Aerospace, Inc.:
| Years Ended | ||||||||
| December 31, | ||||||||
| 2023 | 2022 | |||||||
| Net loss attributable to common stockholders | $ | (45,947 | ) | $ | (79,570 | ) | ||
| Net loss per share, basic and diluted | $ | (76.42 | ) | $ | (3,412.09 | ) | ||
| Weighted average common shares outstanding, basic and diluted | 601,211 | 23,320 | ||||||
| Common shares outstanding at year end | 1,942,984 | 35,709 | ||||||
XTI Aircraft Company:
| Years Ended | ||||||||
| December 31, | ||||||||
| 2023 | 2022 | |||||||
| Net loss | $ | (25,066 | ) | $ | (473 | ) | ||
| Net loss per share, basic and diluted | $ | (0.56 | ) | $ | (0.01 | ) | ||
| Weighted average common shares outstanding, basic and diluted | 44,529,364 | 41,856,170 | ||||||
| Common shares outstanding at year end | 35,823,224 | 35,644,024 | ||||||
XTI Aerospace, Inc.:
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2024 | 2023 | |||||||
| Net loss attributable to common stockholders | $ | (2,663 | ) | $ | (1,565 | ) | ||
| Net loss per share, basic and diluted | $ | (0.50 | ) | $ | (0.41 | ) | ||
| Weighted average common shares outstanding, basic and diluted | 5,366,823 | 3,790,106 | ||||||
| Common shares outstanding at year end | 9,919,411 | 3,197,771 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net loss attributable to common stockholders | $ | (15,420 | ) | $ | (4,629 | ) | $ | (18,083 | ) | $ | (6,194 | ) | ||||
| Net loss per share, basic and diluted | $ | (1.05 | ) | $ | (1.19 | ) | $ | (1.80 | ) | $ | (1.61 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 14,714,143 | 3,899,102 | 10,068,967 | 3,844,905 | ||||||||||||
| Common shares outstanding at year end | 26,841,686 | 3,197,771 | 26,841,686 | 3,197,771 | ||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net loss attributable to common stockholders | $ | (4,674 | ) | $ | (2,703 | ) | $ | (22,757 | ) | $ | (8,897 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.13 | ) | $ | (0.66 | ) | $ | (1.23 | ) | $ | (2.26 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 34,986,105 | 4,116,700 | 18,439,744 | 3,931,075 | ||||||||||||
| Common shares outstanding at year end | 38,008,995 | 3,197,771 | 38,008,995 | 3,197,771 | ||||||||||||
AS ADJUSTED FOR 1-FOR-250 REVERSE STOCK SPLIT (unaudited, in thousands, except share and per share amounts):
XTI Aerospace, Inc.:
| Years Ended | ||||||||
| December 31, | ||||||||
| 2023 | 2022 | |||||||
| Net loss attributable to common stockholders | $ | (45,947 | ) | $ | (79,570 | ) | ||
| Net loss per share, basic and diluted | $ | (19,105.00 | ) | $ | (853,022.50 | ) | ||
| Weighted average common shares outstanding, basic and diluted | 2,405 | 94 | ||||||
| Common shares outstanding at year end | 7,772 | 143 | ||||||
XTI Aircraft Company:
| Years Ended | ||||||||
| December 31, | ||||||||
| 2023 | 2022 | |||||||
| Net loss | $ | (25,066 | ) | $ | (473 | ) | ||
| Net loss per share, basic and diluted | $ | (140.00 | ) | $ | (2.50 | ) | ||
| Weighted average common shares outstanding, basic and diluted | 178,118 | 167,425 | ||||||
| Common shares outstanding at year end | 143,293 | 142,577 | ||||||
XTI Aerospace, Inc.:
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2024 | 2023 | |||||||
| Net loss attributable to common stockholders | $ | (2,663 | ) | $ | (1,565 | ) | ||
| Net loss per share, basic and diluted | $ | (125.00 | ) | $ | (102.50 | ) | ||
| Weighted average common shares outstanding, basic and diluted | 21,468 | 15,161 | ||||||
| Common shares outstanding at year end | 39,678 | 12,792 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net loss attributable to common stockholders | $ | (15,420 | ) | $ | (4,629 | ) | $ | (18,083 | ) | $ | (6,194 | ) | ||||
| Net loss per share, basic and diluted | $ | (262.50 | ) | $ | (297.50 | ) | $ | (450.00 | ) | $ | (402.50 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 58,857 | 15,597 | 40,276 | 15,380 | ||||||||||||
| Common shares outstanding at year end | 107,367 | 12,792 | 107,367 | 12,792 | ||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net loss attributable to common stockholders | $ | (4,674 | ) | $ | (2,703 | ) | $ | (22,757 | ) | $ | (8,897 | ) | ||||
| Net loss per share, basic and diluted | $ | (32.50 | ) | $ | (165.00 | ) | $ | (307.50 | ) | $ | (565.00 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 139,945 | 16,467 | 73,759 | 15,725 | ||||||||||||
| Common shares outstanding at year end | 152,036 | 12,792 | 152,036 | 12,792 | ||||||||||||