XTI Aerospace, Inc. (XTIA): Nasdaq/NYSE listing notice — Inpixon Q3 revenue down 17% YoY; Nasdaq delisting notice received for low bid price

XTI Aerospace, Inc.

Q3 revenue $2.0M (-16.7% YoY); net loss from continuing ops $10.8M; non-GAAP adjusted EBITDA loss $4.1M.
Nasdaq delisting determination for bid price ≤$0.10 for 10 consecutive days; company plans to appeal and cure by reverse split or XTI merger.
Definitive merger with XTI Aircraft expected Q4 2023; shareholder meeting Dec 8; combined entity to be XTI Aerospace (ticker XTIA).
Spin-off of UK SAVES via Grafiti and merger with Damon Motors expected Q1 2024; Damon has ~$85M pre-production reservations for HyperSport motorcycle.
Cash and equivalents $13.5M at Sep 30, 2023; gross margin improved to 78% from 69% YoY due to higher-margin subscription mix.

item 2.02 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

XTI Aerospace, Inc. reported third quarter ended September 30, 2023 results: revenue $2.0 million.

Period: third quarter ended September 30, 2023
Revenue: $2.0 million
Result: reported results

Exact text from the filing

Revenues for the three and nine months ended September 30, 2023, were $2.0 million

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

XTI Aerospace, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii), 5550(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5810(c)(3)(A)(iii), 5550(a)(2)

Exact text from the filing

November 9, 2023, the Company received notice (the “November 9 Letter”) from Nasdaq that Nasdaq had determined that as of November 8, 2023, the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days triggering application of Listing Rule 5810(c)(3)(A)(iii) which states in part: if during any compliance period specified in Rule 5810(c)(3)(A), a company’s security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that s

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XTI Aerospace, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-086912

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