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Jun 30, 2023
XTI Aerospace Q2 2023 Earnings Report
Inpixon reported a decrease in revenue due to delayed shipments and lower sales for the SAVES product line, while improving gross margins and preserving a solid balance sheet.
Key Takeaways
Inpixon reported a decrease in revenue for the second quarter of 2023, primarily due to decreased Indoor Intelligence sales and lower sales for the SAVES product line. However, the company improved its gross margins and maintained a strong cash position. A definitive merger agreement with XTI Aircraft was announced, expected to close in Q4 2023.
Inpixon entered into a definitive merger agreement with XTI Aircraft, expected to be completed in Q4 2023.
Revenues for Q2 2023 were $2.1 million, compared to $2.6 million for the same period last year.
Gross profit margin increased to 81% for Q2 2023, compared to 67% for the same period last year.
Cash and cash equivalents totaled over $15.7 million as of June 30, 2023.
Forward Guidance
Inpixon anticipates closing the transaction with XTI Aircraft during the fourth quarter of 2023. The combined company aims to advance the TriFan 600 and offer RTLS solutions to industrial markets.
Historical Earnings Impact
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