other material
confidence high
sentiment negative
materiality 0.80
XTI Aerospace preliminary FY2024 revenue $3.2M, operating expenses $38.9M; auditor changed to CBIZ
XTI Aerospace, Inc.
- Q4 2024 revenue estimated at $1.0M; full-year $3.2M; operating expenses $10.6M Q4, $38.9M FY.
- Cash and debt as of Dec 31, 2024: $4.1M and $2.7M; as of filing date: $10.5M and $2.1M.
- Marcum LLP resigns as auditor effective upon 10-K filing; Audit Committee engages CBIZ CPAs P.C. for FY2025.
- Prior-year audit opinion included going concern uncertainty; material weaknesses in internal controls noted.