Accessibility StatementSkip Navigation ENGLEWOOD, Colo., Oct. 2, 2025 /PRNewswire/ -- XTI Aircraft Company ("XTI Aircraft"), a subsidiary of XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI"), a pioneer in xVTOL and powered-lift aircraft solutions, today announced the appointment of Steve Zohrabian as Executive Vice President of XTI Aircraft, where he will lead development of XTI Aircraft's family of VTOL aircraft beginning with the mid-range TriFan 600. This appointment marks a significant milestone in the matur ...

ENGLEWOOD, Colo. , Sept. 17, 2025 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA), a pioneer in vertical takeoff and landing aircraft for regional and mission-critical aviation, today expressed support for the FAA's newly announced Electric Vertical Takeoff and Landing Integration Pilot Program, known as eIPP. ...

The securities were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333- 289194), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the "SEC") on August 1, 2025, and declared effective on August 12, 2025. The offering was made only by means of a written prospectus. A prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the SEC on its website at www.sec.gov. Copies of the prospectus sup ...

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Core Viewpoint - XTI Aerospace, Inc. has announced a public offering of 12,500,000 shares of common stock at a price of $1.60 per share, aiming to raise approximately $20 million in gross proceeds for working capital and the development of the TriFan 600 airplane [1][2]. Group 1: Offering Details - The offering includes pre-funded warrants and common warrants, with the common warrants having an exercise price of $2.00 per share and being immediately exercisable for five years [1]. - The offering is expected to close on September 15, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital and general corporate purposes, including the development of the TriFan 600 airplane [2]. - The company may also consider investing in or acquiring businesses or technologies, although there are no current commitments [2]. Group 3: Regulatory Information - The securities will be offered under a shelf registration statement on Form S-3, which was filed with the SEC on August 1, 2025, and declared effective on August 12, 2025 [3]. - A prospectus supplement detailing the terms of the offering will be filed with the SEC [3]. Group 4: Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with vertical takeoff and landing capabilities, cruising speeds over 300 mph, and a range of up to 1,000 miles [5]. - The company also has a business unit, Inpixon, specializing in real-time location systems technology for industrial applications [5].

Accessibility StatementSkip Navigation Subscale Aircraft ProgramStrengthens Path to TriFan 600 ENGLEWOOD, Colo., Sept. 9, 2025 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI"), a pioneer in next-generation xVTOL and powered-lift aircraft, today announced the successful completion of initial flight operations for its Sparrow and Kestrel subscale aircraft programs. These achievements represent important advancements in XTI's disciplined, milestone-driven roadmap toward building its full-scale, pilot ...

Core Insights - The article emphasizes that VTOL technology is transitioning from concept to reality due to supportive U.S. policies, FAA certification progress, and global investment trends [1][2][3] - VTOL is positioned as a viable solution to address urgent needs in both commercial and government sectors, particularly in light of current challenges facing the aviation industry [2][4] Industry Perspective - The U.S. aviation policy has shifted to support next-generation aviation systems, with ongoing FAA certification pathways and infrastructure planning [2][4] - VTOL technology offers a distributed and resilient alternative to traditional aviation, addressing issues such as staffing shortages and outdated control systems [4] - The alignment of innovation, policy, and market demand presents a strategic opportunity for the U.S. to lead in VTOL and advanced air mobility [5] Company Overview - XTI Aerospace is focused on integrating manned and unmanned VTOL systems, advanced materials, and distributed airspace management to create a more accessible and transformative air mobility future [6] - The company is developing the TriFan 600, a fixed-wing business aircraft with VTOL capabilities, maximum cruising speeds exceeding 300 mph, and a range of up to 1,000 miles [7]

Core Insights - The Garmin G700 TXi system is integrated into the TriFan 600, enhancing its operational capabilities for business aviation, including reliability and innovative pilot features [1][3] - The TriFan 600 is a fixed-wing aircraft with vertical lift capability, designed to combine the speed and comfort of a business jet with the flexibility of a helicopter, featuring efficient twin turbo-shaft engines [1][4] - XTI Aerospace is progressing towards FAA certification with developmental flight tests scheduled for 2027, indicating strong interest in the TriFan 600 across various sectors [3][4] Company Overview - XTI Aerospace, based near Denver, Colorado, is developing the TriFan 600, which has a maximum cruising speed of 311 mph and a range of 985 miles, creating a new category of xVTOL aircraft [4] - The company also has a business unit, Inpixon, that specializes in real-time location systems technology, optimizing operations in industrial facilities [4] Technological Features - The Garmin G700 XTi flight deck provides pilots with advanced navigation, communication, surveillance, and situational awareness capabilities [2][6] - The avionics suite includes features such as synthetic vision technology, dynamic maps, satellite weather, and smart autopilot integration [6]

[Special Note Regarding Forward-Looking Statements and Other Information Contained in this Report](index=4&type=section&id=Special%20Note%20Regarding%20Forward-Looking%20Statements%20and%20Other%20Information%20Contained%20in%20this%20Report) This section cautions that forward-looking statements are subject to risks, and actual results may differ materially - Forward-looking statements are identified by words like 'expects,' 'anticipates,' 'estimates,' and relate to future actions, products, performance, expenses, and financial results[7](index=7&type=chunk) - Key risk factors include a history of losses, ability to achieve profitability, limited operating history, delays in TriFan 600 development and certification, regulatory complexities, cancellation of pre-orders, ability to obtain financing, emerging competition, and general economic conditions[7](index=7&type=chunk)[10](index=10&type=chunk) [Explanatory Note](index=6&type=section&id=EXPLANATORY%20NOTE) This section clarifies corporate changes post-XTI Merger, detailing Legacy XTI as acquirer and two reverse stock splits for Nasdaq compliance - On March 12, 2024, XTI Aerospace, Inc. (formerly Inpixon) completed a merger with XTI Aircraft Company (Legacy XTI), with Legacy XTI surviving as a wholly-owned subsidiary and being treated as the accounting acquirer[12](index=12&type=chunk)[13](index=13&type=chunk) - The Company effected a **1-for-100** reverse stock split on March 12, 2024, and a **1-for-250** reverse stock split on January 10, 2025, both to comply with Nasdaq Listing Rule 5550(a)(2)[15](index=15&type=chunk) [PART I - FINANCIAL INFORMATION](index=7&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This part presents the Company's unaudited condensed consolidated financial statements, including balance sheets, statements of operations, cash flows, and detailed notes on accounting policies and financial performance [Item 1. Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited condensed consolidated financial statements, including balance sheets, income statements, cash flows, and detailed notes on accounting policies [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20as%20of%20June%2030%2C%202025%20%28Unaudited%29%20and%20December%2031%2C%202024) Balance sheets show significant increases in cash and total assets, with total liabilities rising due to warrant liabilities, reflecting recent financing | Metric | June 30, 2025 (Unaudited) (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | Percentage Change | | :-------------------------------- | :--------------------------------------- | :------------------------------- | :-------------------- | :---------------- | | Cash and cash equivalents | $20,046 | $4,105 | $15,941 | 388.3% | | Total Current Assets | $24,212 | $8,581 | $15,631 | 182.2% | | Total Assets | $35,448 | $24,291 | $11,157 | 45.9% | | Total Current Liabilities | $21,837 | $17,421 | $4,416 | 25.3% | | Warrant liability | $14,564 | $— | $14,564 | N/A | | Total Liabilities | $22,083 | $17,717 | $4,366 | 24.6% | | Total Stockholders' Equity | $12,405 | $6,574 | $5,831 | 88.7% | [Unaudited Condensed Consolidated Statements of Operations](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations%20for%20the%20three%20and%20six%20months%20ended%20June%2030%2C%202025%20and%202024) Statements of operations show decreased revenue and gross profit, increased net losses for Q2 and H1 2025, driven by higher operating and warrant-related expenses | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :------------------------------- | :------------------------------- | :--------- | :--------- | | Revenues | $600 | $1,031 | $(431) | (41.8)% | | Gross Profit | $483 | $662 | $(179) | (27.0)% | | Operating Expenses | $11,613 | $14,589 | $(2,976) | (20.4)% | | Loss from Operations | $(11,130) | $(13,927) | $2,797 | (20.1)% | | Other (Expense) Income | $(9,719) | $(771) | $(8,948) | 1,160.6% | | Net Loss | $(20,858) | $(14,710) | $(6,148) | 41.8% | | Net Loss Per Share - Basic and Diluted | $(2.93) | $(261.99) | N/A | N/A | | Metric (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :----------------------------- | :----------------------------- | :--------- | :--------- | | Revenues | $1,084 | $1,251 | $(167) | (13.3)% | | Gross Profit | $818 | $803 | $15 | 1.9% | | Operating Expenses | $22,350 | $23,607 | $(1,257) | (5.3)% | | Loss from Operations | $(21,532) | $(22,804) | $1,272 | (5.6)% | | Other (Expense) Income | $(12,204) | $5,508 | $(17,712) | (321.6)% | | Net Loss | $(33,730) | $(17,312) | $(16,418) | 94.8% | | Net Loss Per Share - Basic and Diluted | $(6.41) | $(448.98) | N/A | N/A | [Unaudited Condensed Consolidated Statements of Comprehensive Loss](index=10&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss%20for%20the%20three%20and%20six%20months%20ended%20June%2030%2C%202025%20and%202024) Statements of comprehensive loss present net loss adjusted by unrealized foreign exchange gains/losses, resulting in the total comprehensive loss | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | | Net Loss | $(20,858) | $(14,710) | | Unrealized foreign exchange gain / (loss) | $1,039 | $(32) | | Comprehensive Loss | $(19,819) | $(14,683) | | Metric (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :----------------------------- | :----------------------------- | | Net Loss | $(33,730) | $(17,312) | | Unrealized foreign exchange gain / (loss) | $884 | $(198) | | Comprehensive Loss | $(32,846) | $(17,451) | [Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity](index=11&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity%20for%20the%20three%20and%20six%20months%20ended%20June%2030%2C%202025%20and%202024) Statements detail changes in stockholders' equity, reflecting common stock issuances, warrant exercises, preferred stock redemption, net losses, and translation adjustments | Metric (in thousands, except shares) | January 1, 2025 Balance | June 30, 2025 Balance | | :----------------------------------- | :---------------------- | :-------------------- | | Common Stock Shares | 1,685,021 | 17,915,340 | | Common Stock Amount | $2 | $18 | | Additional Paid-In Capital | $99,425 | $138,795 | | Accumulated Other Comprehensive Income (Loss) | $(622) | $884 | | Accumulated Deficit | $(93,562) | $(127,292) | | Total Stockholders' Equity | $6,574 | $12,405 | - During the six months ended June 30, 2025, the Company issued common shares for net cash proceeds from ATM offerings (**$1.7 million**), public offerings (**$17.9 million**), conversion of debt (**$0.8 million**), and exercise of liability classified warrants (**$18.0 million**)[26](index=26&type=chunk) - The Company redeemed Series 9 preferred stock, resulting in a decrease of **$1.4 million** in equity, and recognized stock-based compensation of **$1.2 million**[26](index=26&type=chunk)[

Core Insights - XTI Aerospace is making significant progress in the development of the TriFan 600, aiming to position it as a transformative aircraft for commercial and defense applications [2][3] - The company has strengthened its balance sheet by raising $18.4 million through a public offering, enhancing liquidity for engineering and certification activities [2][5] - Strategic partnerships have been expanded, including a memorandum of understanding with VerdeGo Aero to explore hybrid-electric propulsion solutions [2][6] Development Milestones - The Global Finite Element Model (GFEM) for configuration C211.2 has been finalized, a crucial step for FAA type certification [6] - Key drivetrain suppliers have been selected, including Triumph Geared Solutions and Kamatics Corporation, to provide essential components [6] - Over 1,500 computational fluid dynamics simulations have been conducted using the U.S. Department of Energy's Frontier supercomputer to optimize aerodynamic design [6] Strategic and Market Expansion Initiatives - The corporate advisory board has been expanded with leaders from aerospace, defense, and AI sectors to enhance navigation through certification and market entry [2][6] - A dedicated prototyping and innovation lab has been opened to accelerate testing of subscale models and flight control systems [2][6] - Technical familiarization sessions with the FAA are ongoing to streamline certification pathways [6] Financial Highlights - Cash and cash equivalents increased to $20.0 million as of June 30, 2025, up from $4.1 million at year-end 2024, primarily due to the public offering [12] - Stockholders' equity grew to $12.4 million as of June 30, 2025, reflecting new capital raised [12] - The company maintains a debt-free position, having repaid all short-term borrowings in Q1 2025 [12] Strategic Outlook - The company is focused on advancing the TriFan 600 through continued engineering and certification efforts, with key priorities for the second half of 2025 [8] - The TriFan 600 is designed to redefine regional air mobility, offering speed, range, and flexibility without traditional infrastructure constraints [8] - The market opportunity for the TriFan 600 is considered substantial, supported by a strengthened balance sheet and clear certification path [8]