XTI Aerospace, Inc. Q1 FY2023 earnings call

• Sold the Enterprise Apps Workplace Experience Business on March 14, 2023, allowing refocus on RTLS business.
• Achieved 17% revenue increase in Q1 2023 due to growth in Indoor Intelligence sales from Aware and RTLS component product lines.
• Maintained a strong balance sheet with over $15 million in cash and cash equivalents.
• Reduced operating expenses in Q1 2023 compared to the prior year.
• RTLS market is expected to reach $12.7 billion by 2026. Inpixon's Technology Agnostic Open platform integrates multiple location technologies.
• Recognized as a leader in the 2023 Gartner Magic Quadrant for Indoor Location Services for the fifth consecutive year.

For the three months ended March 31, 2023, revenues were $3.1 million, an increase of approximately 17% compared to the prior year's $2.6 million. Gross profit was $2.3 million, up 25% from $1.9 million in the prior year, with a gross profit margin of 75% vs. 70% in the prior year. Operating expenses for Q1 2023 were $10.5 million versus $11.1 million in the prior year, a decrease of $0.6 million. Net loss from continuing operations was $12.3 million in Q1 2023 compared to $10.8 million in the prior year. Non-GAAP adjusted EBITDA was a loss of $7.7 million in Q1 2023 vs. a loss of $8.8 million in the prior year. As of March 31, 2023, cash and cash equivalents were approximately $15.3 million.

• No specific numerical guidance provided, but progress continues in the RTLS business and pursuit of strategic opportunities.
• ATM facility used to raise capital flexibly to fund operations and execute strategic plans during volatile market conditions.

• Forward-looking statements subject to numerous risks and uncertainties that could cause actual results to differ materially.
• Publicly disclosed receipt of NASDAQ bid price compliance notice, with efforts underway to restore shareholder value through RTLS growth and other strategic opportunities.

Q: Geographies targeted, sales teams, contract size, recurring revenue, current customers?

A: Target geographies include North America, Europe, Asia, and South Africa. Use direct sales force and indirect sales partners like distributors and integrators. Deal sizes vary, with a mix of revenue types including recurring revenue. Have notable brand name customers, with some listed on the corporate website and others not disclosed without consent.