Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 15, 2022

0001529113false12-312022Q20.330.3300015291132022-01-012022-06-3000015291132022-08-13xbrli:shares00015291132022-06-30iso4217:USD00015291132021-12-310001529113inpx:Series7ConvertiblePreferredStockMember2021-12-310001529113inpx:Series7ConvertiblePreferredStockMember2022-06-300001529113inpx:Series8ConvertiblePreferredStockMember2021-12-310001529113inpx:Series8ConvertiblePreferredStockMember2022-06-30iso4217:USDxbrli:shares0001529113inpx:SeriesFourConvertiblePreferredStockMember2022-06-300001529113inpx:SeriesFourConvertiblePreferredStockMember2021-12-310001529113inpx:SeriesFiveConvertiblePreferredStockMember2022-06-300001529113inpx:SeriesFiveConvertiblePreferredStockMember2021-12-3100015291132022-04-012022-06-3000015291132021-04-012021-06-3000015291132021-01-012021-06-300001529113inpx:Series7ConvertiblePreferredStockMember2022-04-012022-06-300001529113inpx:Series7ConvertiblePreferredStockMember2021-04-012021-06-300001529113inpx:Series7ConvertiblePreferredStockMember2022-01-012022-06-300001529113inpx:Series7ConvertiblePreferredStockMember2021-01-012021-06-300001529113inpx:Series8ConvertiblePreferredStockMember2022-04-012022-06-300001529113inpx:Series8ConvertiblePreferredStockMember2021-04-012021-06-300001529113inpx:Series8ConvertiblePreferredStockMember2022-01-012022-06-300001529113inpx:Series8ConvertiblePreferredStockMember2021-01-012021-06-300001529113us-gaap:PreferredStockMemberinpx:SeriesFourConvertiblePreferredStockMember2021-12-310001529113us-gaap:PreferredStockMemberinpx:SeriesFiveConvertiblePreferredStockMember2021-12-310001529113us-gaap:CommonStockMember2021-12-310001529113us-gaap:AdditionalPaidInCapitalMember2021-12-310001529113us-gaap:TreasuryStockCommonMember2021-12-310001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001529113us-gaap:RetainedEarningsMember2021-12-310001529113us-gaap:NoncontrollingInterestMember2021-12-310001529113us-gaap:CommonStockMember2022-01-012022-03-310001529113us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-3100015291132022-01-012022-03-310001529113inpx:Series7ConvertiblePreferredStockMember2022-01-012022-03-310001529113inpx:Series8ConvertiblePreferredStockMember2022-01-012022-03-310001529113inpx:Series7ConvertiblePreferredStockMemberus-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001529113inpx:Series8ConvertiblePreferredStockMemberus-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001529113us-gaap:RetainedEarningsMember2022-01-012022-03-310001529113us-gaap:NoncontrollingInterestMember2022-01-012022-03-310001529113inpx:Series7ConvertiblePreferredStockMember2022-03-310001529113inpx:Series8ConvertiblePreferredStockMember2022-03-310001529113us-gaap:PreferredStockMemberinpx:SeriesFourConvertiblePreferredStockMember2022-03-310001529113us-gaap:PreferredStockMemberinpx:SeriesFiveConvertiblePreferredStockMember2022-03-310001529113us-gaap:CommonStockMember2022-03-310001529113us-gaap:AdditionalPaidInCapitalMember2022-03-310001529113us-gaap:TreasuryStockCommonMember2022-03-310001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001529113us-gaap:RetainedEarningsMember2022-03-310001529113us-gaap:NoncontrollingInterestMember2022-03-3100015291132022-03-310001529113us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001529113us-gaap:CommonStockMember2022-04-012022-06-300001529113inpx:Series8ConvertiblePreferredStockMemberus-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001529113us-gaap:RetainedEarningsMember2022-04-012022-06-300001529113us-gaap:NoncontrollingInterestMember2022-04-012022-06-300001529113us-gaap:PreferredStockMemberinpx:SeriesFourConvertiblePreferredStockMember2022-06-300001529113us-gaap:PreferredStockMemberinpx:SeriesFiveConvertiblePreferredStockMember2022-06-300001529113us-gaap:CommonStockMember2022-06-300001529113us-gaap:AdditionalPaidInCapitalMember2022-06-300001529113us-gaap:TreasuryStockCommonMember2022-06-300001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001529113us-gaap:RetainedEarningsMember2022-06-300001529113us-gaap:NoncontrollingInterestMember2022-06-300001529113inpx:Series7ConvertiblePreferredStockMember2020-12-310001529113us-gaap:PreferredStockMemberinpx:SeriesFourConvertiblePreferredStockMember2020-12-310001529113us-gaap:PreferredStockMemberinpx:SeriesFiveConvertiblePreferredStockMember2020-12-310001529113us-gaap:CommonStockMember2020-12-310001529113us-gaap:AdditionalPaidInCapitalMember2020-12-310001529113us-gaap:TreasuryStockCommonMember2020-12-310001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001529113us-gaap:RetainedEarningsMember2020-12-310001529113us-gaap:NoncontrollingInterestMember2020-12-3100015291132020-12-310001529113inpx:RegisteredDirectOfferingMemberus-gaap:CommonStockMember2021-01-012021-03-310001529113inpx:RegisteredDirectOfferingMemberus-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001529113inpx:RegisteredDirectOfferingMember2021-01-012021-03-310001529113us-gaap:CommonStockMember2021-01-012021-03-310001529113us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-3100015291132021-01-012021-03-310001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001529113us-gaap:RetainedEarningsMember2021-01-012021-03-310001529113us-gaap:NoncontrollingInterestMember2021-01-012021-03-310001529113inpx:Series7ConvertiblePreferredStockMember2021-03-310001529113us-gaap:PreferredStockMemberinpx:SeriesFourConvertiblePreferredStockMember2021-03-310001529113us-gaap:PreferredStockMemberinpx:SeriesFiveConvertiblePreferredStockMember2021-03-310001529113us-gaap:CommonStockMember2021-03-310001529113us-gaap:AdditionalPaidInCapitalMember2021-03-310001529113us-gaap:TreasuryStockCommonMember2021-03-310001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001529113us-gaap:RetainedEarningsMember2021-03-310001529113us-gaap:NoncontrollingInterestMember2021-03-3100015291132021-03-310001529113us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001529113inpx:GameYourGameMemberus-gaap:CommonStockMember2021-04-012021-06-300001529113inpx:GameYourGameMemberus-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001529113inpx:GameYourGameMember2021-04-012021-06-300001529113inpx:VisualixMemberus-gaap:CommonStockMember2021-04-012021-06-300001529113inpx:VisualixMemberus-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001529113inpx:VisualixMember2021-04-012021-06-300001529113inpx:CxAppMemberus-gaap:CommonStockMember2021-04-012021-06-300001529113inpx:CxAppMemberus-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001529113inpx:CxAppMemberus-gaap:NoncontrollingInterestMember2021-04-012021-06-300001529113inpx:CxAppMember2021-04-012021-06-300001529113us-gaap:CommonStockMember2021-04-012021-06-300001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001529113us-gaap:RetainedEarningsMember2021-04-012021-06-300001529113us-gaap:NoncontrollingInterestMember2021-04-012021-06-300001529113inpx:Series7ConvertiblePreferredStockMember2021-06-300001529113us-gaap:PreferredStockMemberinpx:SeriesFourConvertiblePreferredStockMember2021-06-300001529113us-gaap:PreferredStockMemberinpx:SeriesFiveConvertiblePreferredStockMember2021-06-300001529113us-gaap:CommonStockMember2021-06-300001529113us-gaap:AdditionalPaidInCapitalMember2021-06-300001529113us-gaap:TreasuryStockCommonMember2021-06-300001529113us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001529113us-gaap:RetainedEarningsMember2021-06-300001529113us-gaap:NoncontrollingInterestMember2021-06-3000015291132021-06-30inpx:segment0001529113inpx:Series8ConvertiblePreferredStockMember2022-03-220001529113inpx:Series8ConvertiblePreferredStockMember2022-03-222022-03-22xbrli:pure0001529113us-gaap:UnsecuredDebtMemberinpx:InitialPrincipalAmountMemberinpx:StreetervilleCapitalLLCMemberus-gaap:SubsequentEventMember2022-07-220001529113us-gaap:UnsecuredDebtMemberinpx:InitialPrincipalAmountMemberinpx:StreetervilleCapitalLLCMemberus-gaap:SubsequentEventMember2022-07-222022-07-220001529113inpx:EquityDistributionAgreementMemberus-gaap:SubsequentEventMember2022-07-222022-07-220001529113us-gaap:EmployeeStockOptionMember2022-04-012022-06-300001529113us-gaap:EmployeeStockOptionMember2021-04-012021-06-300001529113us-gaap:EmployeeStockOptionMember2022-01-012022-06-300001529113us-gaap:EmployeeStockOptionMember2021-01-012021-06-300001529113us-gaap:WarrantMember2022-04-012022-06-300001529113us-gaap:WarrantMember2021-04-012021-06-300001529113us-gaap:WarrantMember2022-01-012022-06-300001529113us-gaap:WarrantMember2021-01-012021-06-300001529113us-gaap:ConvertiblePreferredStockMember2022-04-012022-06-300001529113us-gaap:ConvertiblePreferredStockMember2021-04-012021-06-300001529113us-gaap:ConvertiblePreferredStockMember2022-01-012022-06-300001529113us-gaap:ConvertiblePreferredStockMember2021-01-012021-06-300001529113us-gaap:RightsMember2022-04-012022-06-300001529113us-gaap:RightsMember2021-04-012021-06-300001529113us-gaap:RightsMember2022-01-012022-06-300001529113us-gaap:RightsMember2021-01-012021-06-300001529113us-gaap:LongTermContractWithCustomerMemberinpx:HardwareMember2022-04-012022-06-300001529113us-gaap:LongTermContractWithCustomerMemberinpx:HardwareMember2021-04-012021-06-300001529113us-gaap:LongTermContractWithCustomerMemberinpx:HardwareMember2022-01-012022-06-300001529113us-gaap:LongTermContractWithCustomerMemberinpx:HardwareMember2021-01-012021-06-300001529113inpx:SoftwareMemberus-gaap:LongTermContractWithCustomerMember2022-04-012022-06-300001529113inpx:SoftwareMemberus-gaap:LongTermContractWithCustomerMember2021-04-012021-06-300001529113inpx:SoftwareMemberus-gaap:LongTermContractWithCustomerMember2022-01-012022-06-300001529113inpx:SoftwareMemberus-gaap:LongTermContractWithCustomerMember2021-01-012021-06-300001529113inpx:ProfessionalServicesMemberus-gaap:LongTermContractWithCustomerMember2022-04-012022-06-300001529113inpx:ProfessionalServicesMemberus-gaap:LongTermContractWithCustomerMember2021-04-012021-06-300001529113inpx:ProfessionalServicesMemberus-gaap:LongTermContractWithCustomerMember2022-01-012022-06-300001529113inpx:ProfessionalServicesMemberus-gaap:LongTermContractWithCustomerMember2021-01-012021-06-300001529113us-gaap:LongTermContractWithCustomerMember2022-04-012022-06-300001529113us-gaap:LongTermContractWithCustomerMember2021-04-012021-06-300001529113us-gaap:LongTermContractWithCustomerMember2022-01-012022-06-300001529113us-gaap:LongTermContractWithCustomerMember2021-01-012021-06-300001529113inpx:HardwareMemberus-gaap:ShortTermContractWithCustomerMember2022-04-012022-06-300001529113inpx:HardwareMemberus-gaap:ShortTermContractWithCustomerMember2021-04-012021-06-300001529113inpx:HardwareMemberus-gaap:ShortTermContractWithCustomerMember2022-01-012022-06-300001529113inpx:HardwareMemberus-gaap:ShortTermContractWithCustomerMember2021-01-012021-06-300001529113inpx:SoftwareMemberus-gaap:ShortTermContractWithCustomerMember2022-04-012022-06-300001529113inpx:SoftwareMemberus-gaap:ShortTermContractWithCustomerMember2021-04-012021-06-300001529113inpx:SoftwareMemberus-gaap:ShortTermContractWithCustomerMember2022-01-012022-06-300001529113inpx:SoftwareMemberus-gaap:ShortTermContractWithCustomerMember2021-01-012021-06-300001529113inpx:ProfessionalServicesMemberus-gaap:ShortTermContractWithCustomerMember2022-04-012022-06-300001529113inpx:ProfessionalServicesMemberus-gaap:ShortTermContractWithCustomerMember2021-04-012021-06-300001529113inpx:ProfessionalServicesMemberus-gaap:ShortTermContractWithCustomerMember2022-01-012022-06-300001529113inpx:ProfessionalServicesMemberus-gaap:ShortTermContractWithCustomerMember2021-01-012021-06-300001529113us-gaap:ShortTermContractWithCustomerMember2022-04-012022-06-300001529113us-gaap:ShortTermContractWithCustomerMember2021-04-012021-06-300001529113us-gaap:ShortTermContractWithCustomerMember2022-01-012022-06-300001529113us-gaap:ShortTermContractWithCustomerMember2021-01-012021-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredAtPointInTimeMember2021-04-012021-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredAtPointInTimeMember2021-01-012021-06-300001529113inpx:SavesMemberus-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300001529113inpx:SavesMemberus-gaap:TransferredAtPointInTimeMember2021-04-012021-06-300001529113inpx:SavesMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300001529113inpx:SavesMemberus-gaap:TransferredAtPointInTimeMember2021-01-012021-06-300001529113inpx:ShoomMemberus-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300001529113inpx:ShoomMemberus-gaap:TransferredAtPointInTimeMember2021-04-012021-06-300001529113inpx:ShoomMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300001529113inpx:ShoomMemberus-gaap:TransferredAtPointInTimeMember2021-01-012021-06-300001529113us-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300001529113us-gaap:TransferredAtPointInTimeMember2021-04-012021-06-300001529113us-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300001529113us-gaap:TransferredAtPointInTimeMember2021-01-012021-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredOverTimeMember2022-04-012022-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredOverTimeMember2021-04-012021-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredOverTimeMember2022-01-012022-06-300001529113inpx:IndoorIntelligenceMemberus-gaap:TransferredOverTimeMember2021-01-012021-06-300001529113inpx:SavesMemberus-gaap:TransferredOverTimeMember2022-04-012022-06-300001529113inpx:SavesMemberus-gaap:TransferredOverTimeMember2021-04-012021-06-300001529113inpx:SavesMemberus-gaap:TransferredOverTimeMember2022-01-012022-06-300001529113inpx:SavesMemberus-gaap:TransferredOverTimeMember2021-01-012021-06-300001529113inpx:ShoomMemberus-gaap:TransferredOverTimeMember2022-04-012022-06-300001529113inpx:ShoomMemberus-gaap:TransferredOverTimeMember2021-04-012021-06-300001529113inpx:ShoomMemberus-gaap:TransferredOverTimeMember2022-01-012022-06-300001529113inpx:ShoomMemberus-gaap:TransferredOverTimeMember2021-01-012021-06-300001529113us-gaap:TransferredOverTimeMember2022-04-012022-06-300001529113us-gaap:TransferredOverTimeMember2021-04-012021-06-300001529113us-gaap:TransferredOverTimeMember2022-01-012022-06-300001529113us-gaap:TransferredOverTimeMember2021-01-012021-06-300001529113inpx:CxAppMember2022-03-032022-03-030001529113inpx:CxAppMember2022-01-012022-06-300001529113inpx:CxAppMember2021-01-012021-06-300001529113inpx:SystatAcquisitionMember2021-12-310001529113inpx:SystatAcquisitionMember2022-01-012022-06-300001529113inpx:SystatAcquisitionMember2022-06-300001529113inpx:GTXAcquisitionMember2021-12-310001529113inpx:GTXAcquisitionMember2022-01-012022-06-300001529113inpx:GTXAcquisitionMember2022-06-300001529113inpx:NanotronMember2021-12-310001529113inpx:NanotronMember2022-01-012022-06-300001529113inpx:NanotronMember2022-06-300001529113inpx:JibestreamAcquisitionMember2021-12-310001529113inpx:JibestreamAcquisitionMember2022-01-012022-06-300001529113inpx:JibestreamAcquisitionMember2022-06-300001529113inpx:CxAppMember2021-12-310001529113inpx:CxAppMember2022-06-300001529113inpx:GameYourGameMember2021-12-310001529113inpx:GameYourGameMember2022-01-012022-06-300001529113inpx:GameYourGameMember2022-06-300001529113inpx:IntraNavMember2021-12-310001529113inpx:IntraNavMember2022-01-012022-06-300001529113inpx:IntraNavMember2022-06-300001529113us-gaap:IncomeApproachValuationTechniqueMember2022-06-300001529113us-gaap:MarketApproachValuationTechniqueMember2022-06-300001529113inpx:IndoorIntelligenceMember2022-01-012022-06-300001529113inpx:ShoomMember2022-01-012022-06-300001529113inpx:SavesMember2022-01-012022-06-3000015291132021-01-012021-12-310001529113inpx:IndoorIntelligenceMember2021-01-012021-12-310001529113inpx:ShoomMember2021-01-012021-12-310001529113us-gaap:IntellectualPropertyMember2022-06-300001529113us-gaap:IntellectualPropertyMember2021-12-310001529113us-gaap:IntellectualPropertyMember2022-01-012022-06-300001529113us-gaap:TrademarksAndTradeNamesMember2022-06-300001529113us-gaap:TrademarksAndTradeNamesMember2021-12-310001529113us-gaap:TrademarksAndTradeNamesMember2022-01-012022-06-300001529113inpx:WebstoresAndWebsitesMember2022-06-300001529113inpx:WebstoresAndWebsitesMember2021-12-310001529113inpx:WebstoresAndWebsitesMember2022-01-012022-06-300001529113us-gaap:CustomerRelationshipsMember2022-06-300001529113us-gaap:CustomerRelationshipsMember2021-12-310001529113us-gaap:CustomerRelationshipsMember2022-01-012022-06-300001529113us-gaap:DevelopedTechnologyRightsMember2022-06-300001529113us-gaap:DevelopedTechnologyRightsMember2021-12-310001529113us-gaap:DevelopedTechnologyRightsMember2022-01-012022-06-300001529113us-gaap:NoncompeteAgreementsMember2022-06-300001529113us-gaap:NoncompeteAgreementsMember2021-12-310001529113us-gaap:NoncompeteAgreementsMember2022-01-012022-06-300001529113us-gaap:EquitySecuritiesMember2022-06-300001529113us-gaap:RightsMember2022-06-300001529113us-gaap:FairValueInputsLevel3Memberus-gaap:ConvertibleNotesPayableMemberinpx:FOXOTechnologiesIncMember2022-04-270001529113us-gaap:FairValueInputsLevel3Memberus-gaap:ConvertibleNotesPayableMemberinpx:FOXOTechnologiesIncMember2022-04-272022-04-2700015291132020-10-122020-10-120001529113inpx:CardinalVenturesHoldingsMemberus-gaap:CommonClassAMember2020-10-122020-10-120001529113inpx:CardinalVenturesHoldingsMemberus-gaap:CommonClassBMember2020-10-122020-10-120001529113inpx:CardinalVenturesHoldingsMemberus-gaap:CommonClassBMember2020-12-162020-12-160001529113inpx:CardinalVenturesHoldingsMemberus-gaap:CommonClassAMember2020-12-162020-12-160001529113inpx:CardinalVenturesHoldingsMemberus-gaap:CommonClassAMember2022-06-300001529113inpx:CardinalVenturesHoldingsMemberus-gaap:CommonClassBMember2022-06-300001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMember2020-03-180001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMember2022-06-300001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMember2021-12-310001529113inpx:ThirdPartyNotePayableMember2022-06-300001529113inpx:ThirdPartyNotePayableMember2021-12-310001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMember2020-03-182020-03-180001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMember2020-09-170001529113inpx:ExchangeAgreementMember2021-02-110001529113inpx:ExchangeAgreementMember2021-02-112021-02-110001529113inpx:ExchangeAgreementMember2021-01-012021-06-300001529113inpx:ExchangeAgreementMember2021-07-010001529113inpx:ExchangeAgreementMember2021-07-012021-07-010001529113inpx:ExchangeAgreementMember2022-02-010001529113inpx:ExchangeAgreementMember2022-02-012022-02-010001529113inpx:ExchangeAgreementMember2022-02-180001529113inpx:ExchangeAgreementMember2022-02-182022-02-180001529113inpx:ExchangeAgreementMember2022-03-150001529113inpx:ExchangeAgreementMember2022-03-152022-03-1500015291132022-03-1600015291132022-03-162022-03-160001529113inpx:ExchangeAgreementMember2022-05-170001529113inpx:ExchangeAgreementMember2022-05-172022-05-170001529113inpx:ExchangeAgreementMember2022-05-310001529113inpx:ExchangeAgreementMember2022-05-312022-05-310001529113inpx:GameYourGameNotePurchaseAgreementMember2021-10-290001529113inpx:GameYourGameNotePurchaseAgreementMember2022-01-180001529113inpx:GameYourGameNotePurchaseAgreementMember2022-03-220001529113inpx:GameYourGameNotePurchaseAgreementMember2022-06-300001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMember2021-01-242021-01-240001529113us-gaap:WarrantMember2021-01-242021-01-240001529113inpx:PurchaseWarrantsMemberus-gaap:WarrantMember2021-01-240001529113inpx:January2021PreFundedWarrantsMember2021-01-242021-01-240001529113inpx:January2021PreFundedWarrantsMember2021-01-2400015291132021-01-242021-01-2400015291132021-02-112021-02-110001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMember2021-02-122021-02-120001529113us-gaap:WarrantMember2021-02-122021-02-120001529113inpx:PurchaseWarrantsMemberus-gaap:WarrantMember2021-02-120001529113inpx:February2021PreFundedWarrantsMember2021-02-122021-02-120001529113inpx:February2021PreFundedWarrantsMember2021-02-1200015291132021-02-122021-02-120001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMember2021-02-162021-02-160001529113us-gaap:WarrantMember2021-02-162021-02-160001529113inpx:PurchaseWarrantsMemberus-gaap:WarrantMember2021-02-160001529113inpx:SecondFebruary2021PreFundedWarrantsMember2021-02-162021-02-160001529113inpx:SecondFebruary2021PreFundedWarrantsMember2021-02-1600015291132021-02-162021-02-160001529113inpx:RegisteredDirectOfferingMemberinpx:Series7ConvertiblePreferredStockMember2021-09-132021-09-130001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMember2021-09-132021-09-130001529113inpx:RegisteredDirectOfferingMember2021-09-130001529113inpx:Series7ConvertiblePreferredStockMember2021-09-130001529113us-gaap:CommonStockMember2021-09-130001529113us-gaap:WarrantMember2021-09-1300015291132021-09-132021-09-130001529113inpx:Series8ConvertiblePreferredStockMemberus-gaap:WarrantMember2022-03-2200015291132022-03-220001529113inpx:Series7ConvertiblePreferredStockMember2022-03-152022-03-220001529113us-gaap:WarrantMemberinpx:Series7ConvertiblePreferredStockMember2022-03-2200015291132022-03-152022-03-2200015291132022-01-2800015291132022-01-282022-01-280001529113inpx:ExistingWarrantsMember2022-01-280001529113us-gaap:RestrictedStockMember2022-02-192022-02-190001529113inpx:SeriesFourConvertiblePreferredStockMember2018-04-200001529113inpx:SeriesFiveConvertiblePreferredStockMember2019-01-140001529113inpx:Series7ConvertiblePreferredStockMember2021-09-132021-09-130001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMemberinpx:Series7ConvertiblePreferredStockMember2021-09-132021-09-130001529113inpx:RegisteredDirectOfferingMemberinpx:Series7ConvertiblePreferredStockMember2021-09-130001529113inpx:Series7ConvertiblePreferredStockMember2021-01-012021-12-310001529113inpx:Series7ConvertiblePreferredStockMemberus-gaap:CommonStockMember2021-01-012021-12-3100015291132021-11-1700015291132021-11-180001529113us-gaap:EmployeeStockOptionMember2022-01-012022-06-300001529113inpx:TwoThousandEighteenPlanMember2022-06-300001529113inpx:TwoThousandEighteenPlanMember2022-01-012022-06-300001529113inpx:NonAwardPlanMember2022-06-300001529113inpx:TwoThousandElevenPlanMember2022-01-012022-06-300001529113inpx:TwoThousandEighteenPlanMember2021-01-012021-06-300001529113inpx:TwoThousandEighteenPlanMemberus-gaap:EmployeeStockOptionMember2021-01-012021-06-300001529113us-gaap:ShareBasedCompensationAwardTrancheOneMemberinpx:TwoThousandEighteenPlanMemberus-gaap:EmployeeStockOptionMember2021-01-012021-06-300001529113us-gaap:ShareBasedCompensationAwardTrancheTwoMemberinpx:TwoThousandEighteenPlanMemberus-gaap:EmployeeStockOptionMember2021-01-012021-06-300001529113inpx:TwoThousandEighteenPlanMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMemberus-gaap:EmployeeStockOptionMember2021-01-012021-06-300001529113us-gaap:EmployeeStockOptionMember2021-02-052021-02-050001529113us-gaap:EmployeeStockOptionMember2021-02-050001529113us-gaap:EmployeeStockOptionMember2021-06-102021-06-100001529113us-gaap:EmployeeStockOptionMember2021-06-100001529113inpx:TwoThousandEighteenPlanMemberus-gaap:EmployeeStockOptionMember2022-01-012022-06-300001529113us-gaap:ShareBasedCompensationAwardTrancheOneMemberinpx:TwoThousandEighteenPlanMemberus-gaap:EmployeeStockOptionMember2022-01-012022-06-300001529113us-gaap:ShareBasedCompensationAwardTrancheTwoMemberinpx:TwoThousandEighteenPlanMemberus-gaap:EmployeeStockOptionMember2022-01-012022-06-300001529113us-gaap:EmployeeStockOptionMember2022-04-012022-06-300001529113us-gaap:EmployeeStockOptionMember2021-04-012021-06-300001529113us-gaap:EmployeeStockOptionMember2022-01-012022-06-300001529113us-gaap:EmployeeStockOptionMember2021-01-012021-06-300001529113us-gaap:EmployeeStockOptionMember2022-06-300001529113inpx:TwoThousandElevenPlanMember2021-12-310001529113inpx:TwoThousandEighteenPlanMember2021-12-310001529113inpx:NonAwardPlanMember2021-12-310001529113inpx:NonAwardPlanMember2022-01-012022-06-300001529113inpx:TwoThousandElevenPlanMember2022-06-300001529113us-gaap:RestrictedStockMember2021-02-192021-02-190001529113us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-02-192021-02-190001529113us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-02-192021-02-190001529113us-gaap:RestrictedStockMember2021-04-232021-04-230001529113us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-04-232021-04-230001529113us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMemberinpx:ShareBasedPaymentArrangementVestingOptionOneMember2021-04-232021-04-230001529113inpx:ShareBasedPaymentArrangementVestingOptionTwoMemberus-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-04-232021-04-230001529113us-gaap:RestrictedStockMember2021-08-212021-08-210001529113us-gaap:RestrictedStockMember2022-04-012022-06-300001529113us-gaap:RestrictedStockMember2021-04-012021-06-300001529113us-gaap:RestrictedStockMember2022-01-012022-06-300001529113us-gaap:RestrictedStockMember2021-01-012021-06-300001529113us-gaap:RestrictedStockMember2021-12-310001529113us-gaap:RestrictedStockMember2022-06-300001529113inpx:RegisteredDirectOfferingMember2021-01-242021-01-240001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMember2021-01-240001529113inpx:PurchaseWarrantsMember2021-01-240001529113inpx:RegisteredDirectOfferingMemberinpx:PurchaseWarrantsMemberus-gaap:WarrantMember2021-01-240001529113inpx:RegisteredDirectOfferingMemberinpx:January2021PreFundedWarrantsMember2021-01-242021-01-240001529113inpx:RegisteredDirectOfferingMemberinpx:January2021PreFundedWarrantsMember2021-01-240001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMemberinpx:January2021PreFundedWarrantsMember2021-01-240001529113inpx:January2021WarrantsMember2021-01-012021-12-310001529113inpx:January2021WarrantsMemberus-gaap:WarrantMember2021-12-310001529113us-gaap:WarrantMember2021-12-310001529113inpx:RegisteredDirectOfferingMember2021-02-122021-02-120001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMember2021-02-120001529113inpx:PurchaseWarrantsMember2021-02-120001529113inpx:RegisteredDirectOfferingMemberinpx:PurchaseWarrantsMemberus-gaap:WarrantMember2021-02-120001529113inpx:February2021PreFundedWarrantsMember2021-02-122021-02-120001529113inpx:February2021PreFundedWarrantsMember2021-02-120001529113inpx:January2021PreFundedWarrantsMember2021-02-120001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMemberinpx:January2021PreFundedWarrantsMember2021-02-120001529113inpx:February2021PreFundedWarrantsMember2021-01-012021-12-310001529113us-gaap:WarrantMemberinpx:February2021PreFundedWarrantsMember2021-12-310001529113inpx:RegisteredDirectOfferingMember2021-02-162021-02-160001529113inpx:RegisteredDirectOfferingMemberus-gaap:WarrantMemberinpx:January2021PreFundedWarrantsMember2021-02-160001529113inpx:PurchaseWarrantsMember2021-02-160001529113inpx:RegisteredDirectOfferingMemberinpx:PurchaseWarrantsMemberus-gaap:WarrantMember2021-02-160001529113inpx:SecondFebruary2021PreFundedWarrantsMember2021-02-162021-02-160001529113inpx:SecondFebruary2021PreFundedWarrantsMember2021-02-160001529113inpx:SecondFebruary2021PreFundedWarrantsMember2021-01-012021-12-310001529113inpx:SecondFebruary2021PreFundedWarrantsMemberus-gaap:WarrantMember2021-12-310001529113inpx:RegisteredDirectOfferingMemberus-gaap:CommonStockMember2021-09-132021-09-130001529113us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberinpx:CustomerBMember2022-04-012022-06-300001529113us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberinpx:CustomerBMember2021-04-012021-06-300001529113us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberinpx:CustomerBMember2022-01-012022-06-300001529113us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberinpx:CustomerBMember2021-01-012021-06-300001529113inpx:TwoCustomersMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:AccountsReceivableMember2022-01-012022-06-300001529113us-gaap:SupplierConcentrationRiskMemberus-gaap:AccountsPayableMemberinpx:TwoVendorsMember2022-01-012022-06-300001529113us-gaap:SupplierConcentrationRiskMemberus-gaap:AccountsPayableMemberinpx:TwoVendorsMember2021-01-012021-06-300001529113us-gaap:SupplierConcentrationRiskMemberinpx:VendorOneMemberus-gaap:CostOfGoodsTotalMember2022-01-012022-06-300001529113us-gaap:SupplierConcentrationRiskMemberinpx:VendorOneMemberus-gaap:CostOfGoodsTotalMember2021-01-012021-06-300001529113us-gaap:SupplierConcentrationRiskMemberus-gaap:CostOfGoodsTotalMemberinpx:VendorTwoMember2021-01-012021-06-300001529113us-gaap:SupplierConcentrationRiskMemberus-gaap:CostOfGoodsTotalMemberinpx:VendorThreeMember2021-01-012021-06-300001529113inpx:IndoorIntelligenceMember2022-04-012022-06-300001529113inpx:IndoorIntelligenceMember2021-04-012021-06-300001529113inpx:IndoorIntelligenceMember2021-01-012021-06-300001529113inpx:SavesMember2022-04-012022-06-300001529113inpx:SavesMember2021-04-012021-06-300001529113inpx:SavesMember2021-01-012021-06-300001529113inpx:ShoomMember2022-04-012022-06-300001529113inpx:ShoomMember2021-04-012021-06-300001529113inpx:ShoomMember2021-01-012021-06-300001529113us-gaap:FairValueInputsLevel1Member2022-06-300001529113us-gaap:FairValueInputsLevel2Member2022-06-300001529113us-gaap:FairValueInputsLevel3Member2022-06-300001529113us-gaap:FairValueInputsLevel1Member2021-12-310001529113us-gaap:FairValueInputsLevel2Member2021-12-310001529113us-gaap:FairValueInputsLevel3Member2021-12-310001529113country:USsrt:ReportableGeographicalComponentsMember2022-04-012022-06-300001529113country:CAsrt:ReportableGeographicalComponentsMember2022-04-012022-06-300001529113country:INsrt:ReportableGeographicalComponentsMember2022-04-012022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:DE2022-04-012022-06-300001529113country:GBsrt:ReportableGeographicalComponentsMember2022-04-012022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:IE2022-04-012022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:PH2022-04-012022-06-300001529113srt:GeographyEliminationsMember2022-04-012022-06-300001529113country:USsrt:ReportableGeographicalComponentsMember2021-04-012021-06-300001529113country:CAsrt:ReportableGeographicalComponentsMember2021-04-012021-06-300001529113country:INsrt:ReportableGeographicalComponentsMember2021-04-012021-06-300001529113srt:ReportableGeographicalComponentsMembercountry:DE2021-04-012021-06-300001529113country:GBsrt:ReportableGeographicalComponentsMember2021-04-012021-06-300001529113srt:ReportableGeographicalComponentsMembercountry:IE2021-04-012021-06-300001529113srt:ReportableGeographicalComponentsMembercountry:PH2021-04-012021-06-300001529113srt:GeographyEliminationsMember2021-04-012021-06-300001529113country:USsrt:ReportableGeographicalComponentsMember2022-01-012022-06-300001529113country:CAsrt:ReportableGeographicalComponentsMember2022-01-012022-06-300001529113country:INsrt:ReportableGeographicalComponentsMember2022-01-012022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:DE2022-01-012022-06-300001529113country:GBsrt:ReportableGeographicalComponentsMember2022-01-012022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:IE2022-01-012022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:PH2022-01-012022-06-300001529113srt:GeographyEliminationsMember2022-01-012022-06-300001529113country:USsrt:ReportableGeographicalComponentsMember2021-01-012021-06-300001529113country:CAsrt:ReportableGeographicalComponentsMember2021-01-012021-06-300001529113country:INsrt:ReportableGeographicalComponentsMember2021-01-012021-06-300001529113srt:ReportableGeographicalComponentsMembercountry:DE2021-01-012021-06-300001529113country:GBsrt:ReportableGeographicalComponentsMember2021-01-012021-06-300001529113srt:ReportableGeographicalComponentsMembercountry:IE2021-01-012021-06-300001529113srt:ReportableGeographicalComponentsMembercountry:PH2021-01-012021-06-300001529113srt:GeographyEliminationsMember2021-01-012021-06-300001529113country:USsrt:ReportableGeographicalComponentsMember2022-06-300001529113country:CAsrt:ReportableGeographicalComponentsMember2022-06-300001529113country:INsrt:ReportableGeographicalComponentsMember2022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:DE2022-06-300001529113country:GBsrt:ReportableGeographicalComponentsMember2022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:IE2022-06-300001529113srt:ReportableGeographicalComponentsMembercountry:PH2022-06-300001529113srt:GeographyEliminationsMember2022-06-300001529113country:USsrt:ReportableGeographicalComponentsMember2021-12-310001529113country:CAsrt:ReportableGeographicalComponentsMember2021-12-310001529113country:INsrt:ReportableGeographicalComponentsMember2021-12-310001529113srt:ReportableGeographicalComponentsMembercountry:DE2021-12-310001529113country:GBsrt:ReportableGeographicalComponentsMember2021-12-310001529113srt:ReportableGeographicalComponentsMembercountry:IE2021-12-310001529113srt:ReportableGeographicalComponentsMembercountry:PH2021-12-310001529113srt:GeographyEliminationsMember2021-12-310001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2018-12-310001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2018-01-012018-12-310001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-02-032019-02-030001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-02-030001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-02-040001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-04-010001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-04-020001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-05-210001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-05-220001529113inpx:SysorexMember2020-02-280001529113inpx:SysorexMember2020-03-010001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2020-03-010001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2020-06-300001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2020-12-310001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2020-01-012020-12-310001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-10-012019-12-310001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2020-01-012020-03-310001529113inpx:SysorexMember2021-03-190001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2019-02-202019-02-200001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2018-08-070001529113inpx:SysorexMemberinpx:PurchaseAgreementMember2021-01-012021-12-310001529113inpx:SysorexMember2021-03-310001529113inpx:SysorexMemberinpx:SysorexSettlementAgreementMember2021-04-142021-04-140001529113inpx:SysorexMemberinpx:SysorexSettlementAgreementMember2021-04-140001529113inpx:SysorexMemberinpx:RightsLetterAgreementMember2021-04-142021-04-140001529113inpx:SysorexMember2021-04-142021-12-310001529113inpx:ConsultingServicesMembersrt:DirectorMember2022-01-012022-06-300001529113inpx:RantigenGermanyAdministrativeOfficeOneMember2022-06-300001529113inpx:RantigenGermanyAdministrativeOfficeTwoMember2022-06-300001529113inpx:FrankfurtGermanyOfficeMember2022-06-30inpx:lease0001529113inpx:PaloAltoCAOfficeMember2022-06-300001529113inpx:PaloAltoCAOfficeMember2021-12-310001529113inpx:HyderabadIndiaOfficeMember2022-06-300001529113inpx:HyderabadIndiaOfficeMember2021-12-310001529113inpx:CoquitlamCanadaOfficeMember2022-06-300001529113inpx:CoquitlamCanadaOfficeMember2021-12-310001529113inpx:WestminsterCanadaOfficeMember2022-06-300001529113inpx:WestminsterCanadaOfficeMember2021-12-310001529113inpx:TorontoCanadaOfficeMember2022-06-300001529113inpx:TorontoCanadaOfficeMember2021-12-310001529113inpx:RatingenGermanyOfficeMember2022-06-300001529113inpx:RatingenGermanyOfficeMember2021-12-310001529113inpx:BerlinGermanyOfficeMember2022-06-300001529113inpx:BerlinGermanyOfficeMember2021-12-310001529113inpx:SloughUnitedKingdomOfficeMember2022-06-300001529113inpx:SloughUnitedKingdomOfficeMember2021-12-310001529113inpx:FrankfurtGermanyOfficeMember2021-12-310001529113inpx:ManilaPhilippinesOfficeMember2022-06-300001529113inpx:ManilaPhilippinesOfficeMember2021-12-310001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMemberus-gaap:SubsequentEventMember2022-07-310001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMemberus-gaap:CommonStockMemberus-gaap:SubsequentEventMember2022-07-012022-07-310001529113srt:MinimumMemberinpx:March2020NotePurchaseAgreementAndPromissoryNoteMemberus-gaap:SubsequentEventMember2022-07-310001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMembersrt:MaximumMemberus-gaap:SubsequentEventMember2022-07-310001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMemberus-gaap:SubsequentEventMember2022-08-040001529113inpx:March2020NotePurchaseAgreementAndPromissoryNoteMemberus-gaap:CommonStockMemberus-gaap:SubsequentEventMember2022-08-042022-08-040001529113inpx:CardinalVenturesHoldingsLLCMemberus-gaap:SubsequentEventMember2022-07-01
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2022
OR
¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______________ to _______________
Commission File Number 001-36404
INPIXON
(Exact name of registrant as specified in its charter)
Nevada 88-0434915
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
2479 E. Bayshore Road
Suite 195
Palo Alto, CA 94303
(Address of principal executive offices)
(Zip Code)
(408) 702-2167
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol Name of each exchange on
which each is registered
Common Stock, par value $0.001 INPX The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
x
Smaller reporting company
x
Emerging growth company
¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the issuer is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Common Stock, Par Value $0.001
161,984,389
(Class)
Outstanding at August 13, 2022


Table of Contents

INPIXON
TABLE OF CONTENTS
Page No.
Special Note Regarding Forward-Looking Statements and Other Information Contained in this Report
PART I - FINANCIAL INFORMATION
ITEM 1. Financial Statements
Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021
Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2022 and 2021
Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2022 and 2021
Condensed Consolidated Statements of Changes in Mezzanine Equity and Stockholders' Equity for the three and six months ended June 30, 2022 and 2021
Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2022 and 2021
Notes to Unaudited Condensed Consolidated Financial Statements
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
Signatures

i

Table of Contents

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION
CONTAINED IN THIS REPORT
This Quarterly Report on Form 10-Q (this “Form 10-Q”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. You can find many (but not all) of these statements by looking for words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “would,” “should,” “could,” “may” or other similar expressions in this Form 10-Q. In particular, these include statements relating to future actions; prospective products, applications, customers and technologies; future performance or results of anticipated products; anticipated expenses; and projected financial results. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:
our history of losses;
our ability to achieve profitability;
our limited operating history with recent acquisitions;
risks related to our recent acquisitions;
our ability to successfully integrate companies or technologies we acquire;
emerging competition and rapidly advancing technology in our industry that may outpace our technology;
customer demand for the products and services we develop;
the impact of competitive or alternative products, technologies and pricing;
our ability to manufacture any products we develop;
general economic conditions and events and the impact they may have on us and our potential customers, including, but not limited to supply chain challenges, increased costs for materials and labor and other impacts resulting from COVID-19 and the Russia/Ukraine conflict;
our ability to obtain adequate financing in the future;
our ability to consummate strategic transactions which may include acquisitions, mergers, dispositions or investments;
our ability to maintain compliance with the continued listing requirements of the Nasdaq Stock Market LLC;
lawsuits and other claims by third parties or investigations by various regulatory agencies that we are and may be become subject to and are required to report, including but not limited to, the U.S. Securities and Exchange Commission;
our success at managing the risks involved in the foregoing items; and
other factors discussed in this Form 10-Q.

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. We have included important factors in the cautionary statements included in this Form 10-Q, particularly in the “Risk Factors” section, that we believe could cause actual results or events to differ materially from the forward-looking statements that we make. Our forward-looking
ii

Table of Contents

statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make or collaborations or strategic partnerships we may enter into.

You should read this Form 10-Q and the documents that we have filed as exhibits to this Form 10-Q completely and with the understanding that our actual future results may be materially different from what we expect. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Unless otherwise stated or the context otherwise requires, the terms “Inpixon” “we,” “us,” “our” and the “Company” refer collectively to Inpixon and, where appropriate, its subsidiaries.
Unless indicated otherwise in this Form 10-Q, all references to “$” refer to United States dollars, the lawful currency of the United States of America. References to “CAD” refer to Canadian dollars, the lawful currency of Canada. References to “INR” refer to Indian rupees, the lawful currency of India. References to “EUR” refer to euros, the single currency of Participating Member States of the European Union. References to “GBP” refer to the British pound, the lawful currency of the United Kingdom.





















iii

Table of Contents


PART I — FINANCIAL INFORMATION
ITEM 1: FINANCIAL STATEMENTS
The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information which are the accounting principles that are generally accepted in the United States of America and in accordance with the instructions for Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, the condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.

The results for the period ended June 30, 2022 are not necessarily indicative of the results of operations for the full year. These financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in our audited consolidated financial statements for the fiscal years December 31, 2021 and 2020 included in the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 16, 2022.
iv

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except number of shares and par value data)
As of June 30,
2022
As of December 31,
2021
(Unaudited) (Audited)
Assets
Current Assets
Cash and cash equivalents $ 65,755  $ 52,480 
Accounts receivable, net of allowances of $268 and $272, respectively
2,767  3,218 
Other receivables 311  321 
Inventory 1,581  1,976 
Short-term investments   43,125 
Note receivable 5,967  
Prepaid expenses and other current assets 3,463  4,842 
Total Current Assets 79,844  105,962 
Property and equipment, net 1,348  1,442 
Operating lease right-of-use asset, net 1,582  1,736 
Software development costs, net 1,647  1,792 
Investments in equity securities 582  1,838 
Long-term investments 2,500  2,500 
Intangible assets, net 30,126  33,478 
Goodwill   7,672 
Other assets 217  253 
Total Assets $ 117,846  $ 156,673 
The accompanying notes are an integral part of these financial statements
1

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(In thousands, except number of shares and par value data)

As of June 30,
2022
As of December 31,
2021
(Unaudited) (Audited)
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts payable $ 900  $ 2,414 
Accrued liabilities 4,116  10,665 
Operating lease obligation, current 600  643 
Deferred revenue 3,638  4,805 
Short-term debt 1,911  3,490 
Acquisition liability 3,486  5,114 
Total Current Liabilities 14,651  27,131 
Long Term Liabilities
Operating lease obligation, noncurrent 1,022  1,108 
Other liabilities, noncurrent 28  28 
Acquisition liability, noncurrent   220 
Total Liabilities 15,701  28,487 
Commitments and Contingencies    
Mezzanine Equity
Series 7 Convertible Preferred Stock - 58,750 shares authorized; zero and 49,250 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively.
  44,695 
Series 8 Convertible Preferred Stock- 53,197.7234 shares authorized; 53,197.7234 and zero issued and outstanding as of June 30, 2022 and December 31, 2021, respectively. (Liquidation preference of $53,197,723)
48,158   
Stockholders’ Equity
Preferred Stock -$0.001 par value; 5,000,000 shares authorized
Series 4 Convertible Preferred Stock - 10,415 shares authorized; 1 issued and 1 outstanding as of June 30, 2022 and December 31, 2021
   
Series 5 Convertible Preferred Stock - 12,000 shares authorized; 126 issued and 126 outstanding as of June 30, 2022 and December 31, 2021
   
Common Stock - $0.001 par value; 2,000,000,000 shares authorized; 155,105,962 and 124,440,924 issued and 155,105,961 and 124,440,923 outstanding as of June 30, 2022 and December 31, 2021, respectively.
155  124 
Additional paid-in capital 334,436  332,639 
Treasury stock, at cost, 1 share
(695) (695)
Accumulated other comprehensive income 598  44 
Accumulated deficit (281,463) (250,309)
Stockholders’ Equity Attributable to Inpixon 53,031  81,803 
Non-controlling Interest 956  1,688 
2

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(In thousands, except number of shares and par value data)

Total Stockholders’ Equity 53,987  83,491 
Total Liabilities, Mezzanine Equity and Stockholders’ Equity $ 117,846  $ 156,673 
The accompanying notes are an integral part of these financial statements
3

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
For the Three Months Ended June 30, For the Six Months Ended June 30,
2022 2021 2022 2021
(Unaudited)
Revenues $ 4,725  $ 3,453  $ 9,956  $ 6,407 
Cost of Revenues 1,396  896  2,782  1,780 
Gross Profit 3,329  2,557  7,174  4,627 
Operating Expenses
Research and development 4,912  3,223  8,997  5,931
Sales and marketing 2,324  2,073  4,600  3,712
General and administrative 6,897  8,828  13,002  17,999
Acquisition-related costs 147  535  268  1,005
Impairment of goodwill 7,570    7,570   
Amortization of intangibles 1,369  1,191  2,691  1,693
Total Operating Expenses 23,219  15,850  37,128  30,340 
Loss from Operations $ (19,890) (13,293) (29,954) $ (25,713)
Other Income (Expense)
Interest income (expense), net 176  1,555  178  1,206 
Loss on exchange of debt for equity       (30)
Recovery of valuation allowance on related party loan - held for sale   7,462    7,345 
Other (expense)/income, net (879) 125  (771) 511 
Gain on related party loan - held for sale   49,817    49,817 
Unrealized gain/(loss) on equity securities 247  (28,965) (1,256) (28,965)
Total Other Income (Expense) (456) 29,994  (1,849) 29,884 
Net (Loss) Income, before tax (20,346) 16,701  (31,803) 4,171 
Income tax benefit/(provision) 16  (2,195) (84) (2,204)
Net (Loss) Income $ (20,330) 14,506  (31,887) $ 1,967 
Net (Loss) Income Attributable to Non-controlling Interest (458) (253) (804) (235)
Net Loss Attributable to Stockholders of Inpixon (19,872) 14,759  (31,083) 2,202 
Accretion of Series 7 Preferred Stock     (4,555)  
Accretion of Series 8 Preferred Stock (6,237)   (6,785)  
Deemed dividend for the modification related to Series 8 Preferred Stock     (2,627)  
Deemed contribution for the modification related to Warrants issued in connection with Series 8 Preferred Stock     1,469   
Amortization premium- modification related to Series 8 Preferred Stock 1,252    1,362   
Net (Loss) Income Attributable to Common Stockholders $ (24,857) $ 14,759  $ (42,219) $ 2,202 
4

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Net (Loss) Income Per Share - Basic $ (0.16) $ 0.13  $ (0.29) $ 0.02 
Net (Loss) Income Per Share - Diluted $ (0.16) $ 0.13  $ (0.29) $ 0.02 
Weighted Average Shares Outstanding
Basic 153,519,283  110,040,532  146,052,371  94,577,520 
Diluted 153,519,283  110,041,378  146,052,371  94,591,619 
The accompanying notes are an integral part of these financial statements
5

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands)
For the Three Months Ended June 30, For the Six Months Ended June 30,
2022 2021 2022 2021
(Unaudited)
Net (Loss) Income $ (20,330) $ 14,506  $ (31,887) $ 1,967 
Unrealized gain on available for sale debt securities 375  $   375   
Unrealized foreign exchange (loss) income from cumulative translation adjustments 282  52  180  (619)
Comprehensive (Loss) Income $ (19,673) $ 14,558  $ (31,332) $ 1,348 
The accompanying notes are an integral part of these financial statements
6

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY
(Unaudited)
(In thousands, except per share data)

7

Table of Contents
Series 7 Preferred Stock Series 8 Preferred Stock Series 4 Convertible Preferred Stock Series 5 Convertible Preferred Stock Common Stock Additional Paid-In Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Non-Controlling Interest Total Stockholders’ (Deficit) Equity
Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount
Balance - January 1, 2022 49,250  $ 44,695    $   1  $   126  $   124,440,924  $ 124  $ 332,639  (1) $ (695) $ 44  $ (250,309) $ 1,688  $ 83,491 
Common shares issued for extinguishment of debt —  —  —  —  —  —  —  —  4,310,245  4  1,496  —  —  —  —  —  $ 1,500 
Stock options and restricted stock awards granted to employees for services —  —  —  —  —  —  —  —  —  —  1,533  —  —  —  —  —  $ 1,533 
Series 7 Preferred redeemed for cash (49,250) (49,250) —  —  —  —  —  —  —  —  —  1 —  —  —  —  —  $ — 
Series 8 Preferred stock issued for cash —  —  53,197.7234  41,577  —  —  —  —  —  —  5,329  —  —  —  —  —  $ 5,329 
Accretion Discount- Series 7 Preferred Shares —  4,555  —  —  —  —  —  —  —  —  (4,555) —  —  —  —  —  $ (4,555)
Accretion Discount- Series 8 Preferred Shares —  —  —  548  —  —  —  —  —  —  (548) —  —  —  —  —  $ (548)
Deemed dividend for the modification related to Series 8 Preferred Stock —  —  —  2,627  —  —  —  —  —  —  (2,627) —  —  —  —  —  $ (2,627)
Deemed contribution for the modification related to Warrants issued in connection with Series 8 Preferred Stock —  —  —  (1,469) —  —  —  —  —  —  1,469  —  —  —  —  —  $ 1,469 
Amortization Premium- modification related to Series 8 Preferred Stock —  —  —  (110) —  —  —  —  —  —  110  —  —  —  —  —  $ 110 
Restricted stock grants withheld for taxes —  —  —  —  —  —  —  —  (960,106) (1) (335) —  —  —  —  —  $ (336)
Common shares issued for CXApp earnout —  —  —  —  —  —  —  —  10,873,886  11  3,686  —  —  —  —  —  $ 3,697 
Common shares issued for exchange of warrants —  —  —  —  —  —  —  —  13,811,407  14  (14) —  —  —  —  —  $  
Cumulative translation adjustment —  —  —  —  —  —  —  —  —  —  —  —  —  (102) (15) 15  $ (102)
Net loss —  —  —  —  —  —  —  —  —  —  —  —  —  —  (11,211) (346) $ (11,557)
Balance - March 31, 2022     53,197.7234  43,173  1    126    152,476,356  152  338,183  (1) (695) (58) (261,535) 1,357  $ 77,404 
Stock options and restricted stock awards granted to employees for services —  —  —  —  —  —  —  —  —  —  —  741  —  —  —  —  —  —  —  $ 741 
Common shares issued for extinguishment of debt —  —  —  —  —  —  —  —  2,629,606  3  497  —  —  —  —  —  $ 500 
Accretion Discount- Series 8 Preferred Shares —  —  —  6,236  —  —  —  —  —  —  (6,236) —  —  —  —  —  —  —  $ (6,236)
Amortization Premium- modification related to Series 8 Preferred Stock —  —  —  (1,251) —  —  —  —  —  —  1,251  —  —  —  —  —  —  —  $ 1,251 
Cumulative translation adjustment —  —  —  —  —  —  —  —  —  —  —  —  —  —  656  (56) 57  $ 657 
Net loss —  —  —  —  —  —  —  —  —  —  —  —  —  —  (19,872) (458) $ (20,330)
Balance - June 30, 2022   $   53,197.7234  $ 48,158  1  $   126  $   155,105,962  $ 155  $ 334,436  (1) $ (695) $ 598  $ (281,463) $ 956  $ 53,987 
The accompanying notes are an integral part of these financial statements
1
8

Table of Contents
INPIXON AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY
(Unaudited)
(In thousands, except per share data)

Series 7 Preferred Stock Series 4 Convertible Preferred Stock Series 5 Convertible Preferred Stock Common Stock Additional Paid-In Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Non-Controlling Interest Total Stockholders’ (Deficit) Equity
Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount
Balance - January 1, 2021     1  $   126  $   53,178,462  $ 53  $ 225,613  (1) $ (695) $ 660  $ (180,992) $ 41  $ 44,680 
Common shares issued for registered direct offering —  —  —  —  —  —  15,800,000  16  74,058  —  —  —  —  —  74,074 
Common shares issued for extinguishment of debt —  —  —  —  —  —  893,921  1  1,499  —  —  —  —  —  1,500 
Common shares issued for cashless stock options exercised —  —  —  —  —  —  4,977  —  —  —  —  —  —  —  — 
Common shares issued for net proceeds from warrants exercised —  —  —  —  —  —  31,505,088  32  3,747  —  —  —  —  —  3,779 
Stock options granted to employees and consultants for services —  —  —  —  —  —  —  —  5,096  —  —  —  —  —  5,096 
Cumulative translation adjustment —  —  —  —  —  —  —  —  —  —  —  (671) —  —  (671)
Net loss —  —  —  —  —  —  —  —  —