EX-99.1 2 ea023095201ex99-1_xtiaero.htm UPDATED UNAUDITED SELECTED FINANCIAL DATA

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