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Mar 31, 2023
XTI Aerospace Q1 2023 Earnings Report
Inpixon's Q1 2023 financial results were reported, highlighting a 17% revenue increase and the completion of the workplace experience business line spin-off.
Key Takeaways
Inpixon reported a 17% increase in revenue to $3.1 million for Q1 2023 compared to the same period last year. The company also completed the spin-off of its workplace experience business line and reduced operating expenses.
Completed the spin-off of the workplace experience business line on March 14.
Achieved a 17% increase in revenue to $3.1 million for Q1 2023 compared to the same period of last year.
Effectively reduced operating expenses compared to the same period of last year.
Maintained a solid balance sheet with over $15 million in cash and cash equivalents as of March 31, 2023.
XTI Aerospace
XTI Aerospace
Forward Guidance
Inpixon is focused on the growth of its real-time location system (RTLS) business line, innovation, and a potential transaction for the remainder of its business.
Positive Outlook
- Focus on the growth of the real-time location system (RTLS) business line.
- Commitment to innovation and providing a full-stack RTLS solution.
- Negotiation and diligence process with respect to a potential transaction for the remainder of the business continues to advance.
- Well positioned to solidify leadership position within the RTLS industry.
- Reallocated resources and streamlined operations.
Challenges Ahead
- Net loss from continuing operations increased by approximately $1.5 million.
- Increase in loss primarily attributable to a deferred tax provision expense of approximately $2.5 million.
- Fluctuation of economic conditions.
- Impact of COVID-19, global conflicts, inflation and other global events on Inpixon’s results of operations and global supply chain constraints.
- Operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise.