XTI Aerospace Reports First Quarter 2025 Results and Provides Business Update

Core Insights - XTI Aerospace has strengthened its balance sheet by eliminating legacy debt and stock-based obligations, positioning itself for future growth and stability [3][6]. - The company is making significant progress in the development of the TriFan 600, with key milestones achieved in engineering and FAA certification [2][6]. - XTI Aerospace is focused on long-term shareholder value and aims to revolutionize regional air mobility through its innovative aircraft solutions [3][7]. Recent Developments - The FAA accepted XTI Aerospace's TriFan 600 Type Certification application on March 17, 2025, marking a critical step in the certification process [6]. - The company achieved a fuel system design milestone, enhancing wing fuel volume from approximately 300 to 400 gallons, which improves maximum range and mission length [6]. - XTI Aerospace expanded its Corporate Advisory Board by adding leaders from aerospace, defense, and AI sectors, enhancing its strategic capabilities [6]. Financial Highlights - Cash and cash equivalents increased by approximately $3.9 million to around $8 million, indicating improved liquidity [6]. - Net working capital rose by approximately $8.9 million, reflecting a stronger financial position [6]. - The company repaid all outstanding secured promissory notes and eliminated the Series 9 Preferred Stock, which previously restricted capital-raising efforts [6]. Strategic Outlook - XTI Aerospace plans to continue advancing the TriFan 600 through engineering, certification, and supplier selection milestones in the upcoming quarters [7]. - The company is preparing for the reopening of TriFan 600 pre-sales later in 2025, aiming to capitalize on its technological advancements and market potential [7][11]. - The focus remains on delivering innovative solutions that transform regional air mobility and create lasting value for shareholders [7].