XTI Aerospace, Inc.(XTIA) - 2025 Q3 - Quarterly Results

Financial Performance - XTI Aerospace closed a $18.5 million net public offering in September 2025, significantly enhancing its balance sheet and liquidity for ongoing engineering work [2]. - Cash and cash equivalents increased to $32.2 million as of September 30, 2025, up from $4.1 million at December 31, 2024, primarily due to the net proceeds from the September offering [6]. - Stockholders' equity grew to $10.5 million as of September 30, 2025, up from $6.6 million at December 31, 2024, reflecting new capital raised [6]. - XTI secured a $25 million strategic investment from Unusual Machines, strengthening its balance sheet and aligning with the domestic drone ecosystem [8]. Product Development - The company completed initial flight operations for the Sparrow and Kestrel prototypes, validating aerodynamic and stability models for the TriFan 600 [3]. - XTI announced a technology collaboration with MagLev Aero for up to 100 MagLev HyperDrive electric propulsion systems for future platforms [6]. - The Valkyrie Vanguard Platform was announced to integrate AI and advanced materials into next-generation VTOL development, enhancing the TriFan 600's technical roadmap [9]. Market Position and Strategy - The acquisition of Drone Nerds added a profitable operating business with over $100 million in revenue for 2024, enhancing XTI's market position [8]. - XTI launched the XTI Founders Club, an exclusive ownership pathway for early TriFan 600 customers, with events planned in key U.S. markets [6]. - XTI's strategic priorities include advancing FAA engagement and scaling customer-centric design programs with IDEO [10].