XTIANasdaqServices-Computer Programming ServicesUS GAAP · USD

XTI Aerospace, Inc.

XTI Aerospace, Inc. develops vertical takeoff and landing aircraft and related aerospace technologies through its Commercial Aviation segment, centered on the TriFan 600 airplane. The company also operates an Industrial IoT business that sells hardware, software licenses, and professional services, including recurring location-as-a-service offerings.

Kysy yhtiöstä
Liikevaihto22,5milj. USD
+602,4 %v/v
Liikevoitto (EBIT)−42,8milj. USD
−44,3 %v/v
EBIT-marginaali−190,4%
+736,1 %-yks.v/v
Nettotulos−68,8milj. USD
−93,1 %v/v
Vapaa kassavirta−36,8milj. USD
−64,6 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−80−60−40−2002040milj. USD2020: 9,3 milj. USD2020: EBIT −24 milj. USD20202021: 16 milj. USD2021: EBIT −73 milj. USD20212022: 19 milj. USD2022: EBIT −19 milj. USD20222023: 4,6 milj. USD2023: EBIT −27 milj. USD20232024: 3,2 milj. USD2024: EBIT −30 milj. USD20242025: 22 milj. USD2025: EBIT −43 milj. USD202522−43
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Commercial Aviation0 %

Development of the TriFan 600 xVTOL aircraft and related aviation capabilities.

Industrial IoT Hardware35 %

Sales of IoT and RTLS hardware products used in location and tracking solutions.

Software Licenses and SaaS / LaaS45 %

Recurring software and location-as-a-service contracts for RTLS customers.

Professional Services10 %

Implementation, support, maintenance, and related customer services.

Drone Solutions and Distribution10 %

Drone hardware, related technologies, and enterprise drone solutions through acquisitions.

Asiakkaat

Customers span commercial aviation stakeholders, industrial IoT users, and drone buyers. The Industrial IoT business serves customers that need location tracking, asset visibility, and recurring software-based monitoring, while Drone Nerds serves commercial, governmental, and consumer drone buyers across multiple end markets. The aviation platform is still in development, so its future customers are expected to include passenger travel, logistics, autonomous operations, and defense users.

Commercial aviation operators

Future buyers of the TriFan 600 for passenger travel, logistics, autonomous operations, and defense missions.

Industrial IoT customers

Customers purchasing RTLS hardware, software licenses, LaaS subscriptions, and maintenance for tracking and visibility use cases.

Commercial drone customers

Businesses and organizations buying drone systems and enterprise drone solutions for operational use.

Government and public safety users

Public sector buyers using drones for inspection, emergency response, and mission support.

Consumer drone buyers

Individual customers purchasing drone hardware and related accessories through retail and e-commerce channels.

Strategia

The company is building a vertical-lift aerospace platform around the TriFan 600 while expanding into drones and adjacent technologies. Its strategy combines aircraft development, software-centric Industrial IoT, and opportunistic acquisitions to broaden the product base and create recurring revenue streams.

TriFan 600 certification and developmentKeskipitkä aikaväli

FAA certification and aircraft readiness are prerequisites for commercial aviation revenue.

Expand software-led Industrial IoTLyhyt aikaväli

Software and recurring contracts can reduce reliance on hardware sales and improve revenue visibility.

Build drone and xVTOL platform capabilitiesKeskipitkä aikaväli

Drones and related technologies broaden the addressable market and support the Vertical Economy strategy.

Secure financing and strategic partnershipsLyhyt aikaväli

Aircraft development and expansion require capital, suppliers, and external support.

Maantiede

XTI Aerospace is based in the United States and operates primarily through U.S.-based development, sales, and distribution activities. Its drone business serves nationwide customers, while the aerospace platform is built around U.S. certification and manufacturing requirements. Supplier and regulatory exposure also extends internationally through drone component sourcing, including China-linked supply chains.

Riskit

The business depends on successful aircraft certification, capital access, and execution across multiple early-stage initiatives, so delays or funding shortfalls can materially affect progress. The drone and IoT businesses also face supplier concentration, regulatory scrutiny, product liability, and impairment risk tied to volatile demand and long development cycles.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Financing and dilution risk1FAA certification and development execution risk2Supplier concentration and China exposure3Goodwill and intangible impairment4Product liability and insurance gaps5Legal and contractual disputes6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Financing and dilution riskVaikutus: KorkeaTodennäköisyys: Korkea

    Aircraft development, testing, and expansion require external capital, which may be costly or unavailable.

    Kohdistuu: Company-wide

  2. FAA certification and development execution riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The TriFan 600 must be designed, tested, and certified before meaningful aviation revenue can begin.

    Kohdistuu: Commercial Aviation

  3. Supplier concentration and China exposureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Drone Nerds relies heavily on a concentrated supplier base, including DJI-linked products subject to regulatory pressure.

    Kohdistuu: Drone business

  4. Goodwill and intangible impairmentVaikutus: KeskitasoTodennäköisyys: Korkea

    Forecast misses or weaker operating performance can trigger impairment charges on acquired assets.

    Kohdistuu: Industrial IoT

  5. Product liability and insurance gapsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Drone operations can create claims from accidents, property damage, or personal injury that may exceed coverage.

    Kohdistuu: Drone Nerds

  6. Legal and contractual disputesVaikutus: KeskitasoTodennäköisyys: Matala

    The company has disclosed litigation and acquisition-related contractual rights that could affect operations.

    Kohdistuu: Company-wide

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition across hardware, software, and services

The company sells products and services with different delivery and performance obligations, affecting timing of revenue.

Vaikutus: Hardware may be point-in-time; software and LaaS may be over time

Deferred revenue and contract liabilities

Recurring software, maintenance, and multi-year LaaS contracts can shift revenue into future periods.

Vaikutus: Impacts reported revenue timing and backlog visibility

Goodwill impairment

Management disclosed a goodwill impairment tied to weaker forecasted performance in Industrial IoT.

Vaikutus: Can create large non-cash charges and reduce equity

Intangible asset valuation

Acquired technologies and customer relationships must be tested for recoverability and amortization.

Vaikutus: Affects operating expense and asset carrying values

Acquisition accounting

Recent acquisitions may add purchase accounting adjustments, intangibles, and contingent considerations.

Vaikutus: Can materially change balance sheet and earnings presentation

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Päivitetty: 24.9.2026