XTI Aerospace, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $22.5M | $3.2M | $4.6M | $19.4M | $16.0M |
| Cost of revenue | $17.6M | $1.3M | $1.5M | $2.1M | $4.4M |
| Gross profit | $4.9M | $1.9M | $3.1M | $4.0M | $11.6M |
| Research and development | $5.2M | $2.0M | $1.4M | $4.5M | $14.1M |
| Operating expenses | $47.7M | $29.7M | $7.6M | $23.2M | $84.4M |
| Operating income | -$42.8M | -$29.7M | -$7.6M | -$19.2M | -$72.7M |
| Interest expense | $270,000 | $782,000 | $1.1M | — | — |
| Pretax income | -$53.0M | -$28.3M | -$25.1M | -$19.9M | -$71.5M |
| Income tax expense | -$10,000 | $16,000 | $24,000 | -$181,000 | -$1.4M |
| Net income | -$68.8M | -$35.6M | -$25.1M | -$63.4M | -$69.2M |
| Balance Sheet | |||||
| Cash and equivalents | $16.7M | $4.0M | $5,000 | $9.3M | $52.5M |
| Current assets | $51.8M | $8.6M | $231,000 | $29.9M | $106.0M |
| Total assets | $81.2M | $24.3M | $509,000 | $57.6M | $156.7M |
| Current liabilities | $47.6M | $17.4M | $13.3M | $24.7M | $27.1M |
| Total liabilities | $50.8M | $17.7M | $32.1M | $25.5M | $28.5M |
| Stockholders' equity | $17.7M | $6.6M | -$31.6M | -$15.0M | $81.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$36.6M | -$22.3M | -$4.2M | -$34.0M | -$37.1M |
| Depreciation and amortization | $148,000 | $113,000 | $11,000 | $400,000 | $400,000 |
| Stock-based compensation | $12.0M | $4.1M | $1.6M | $3.7M | $10.9M |
| Capital expenditure | $215,000 | $68,000 | $3,000 | $245,000 | $346,000 |
| Free cash flow | -$36.8M | -$22.4M | -$4.2M | -$34.2M | -$37.5M |
| Impairments | $4.0M | — | $31.0M | $7.6M | $14.8M |
Shares outstanding 38.5M · Free float 34.7%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.