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Sep 30, 2022
XTI Aerospace Q3 2022 Earnings Report
Inpixon reported a decrease in revenue and an increase in net loss compared to the same quarter last year, while also progressing with a strategic transaction for its enterprise apps business.
Key Takeaways
Inpixon's Q3 2022 saw a decrease in revenue by approximately 6% compared to the same period last year, primarily due to delayed shipments in the IIoT product line and lower sales for the SAVES product line. The company is progressing with a strategic transaction to sell its enterprise apps business segment for approximately $69 million.
Inpixon's Q3 2022 revenue was $4.2 million, a decrease of approximately 6% compared to Q3 2021.
Gross profit for Q3 2022 was $2.9 million, a decrease of approximately 10% compared to Q3 2021.
Net loss attributable to stockholders for Q3 2022 was $17.6 million, compared to $33.6 million for the same period last year.
The company signed a definitive agreement for the spinoff and sale of its enterprise apps business segment with KINS Technology Group Inc. in a transaction valued at approximately $69 million.
Forward Guidance
Inpixon management will host a conference call today at 4:30 PM Eastern Time to discuss the company’s financial results for the 2022 third quarter ended September 30, 2022, as well as review the company’s corporate progress and other developments.
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