XTI Aerospace Balance Sheet Health

Financial Health criteria checks 0/6

XTI Aerospace has a total shareholder equity of $-16.3M and total debt of $11.0M, which brings its debt-to-equity ratio to -67.5%. Its total assets and total liabilities are $78.3M and $94.7M respectively.

Key information

-67.48%

Debt to equity ratio

US$11.02m

Debt

Interest coverage ratio	n/a
Cash	US$20.09m
Equity	-US$16.33m
Total liabilities	US$94.67m
Total assets	US$78.34m

Recent financial health updates

Recent updates

Narrative Update • Jun 26

XTIA: Acquisition Pipeline And Drone Expansion Will Support Future Upside Potential

Analysts have trimmed their price target for XTI Aerospace to $5.00 from $7.50 as updated assumptions now point to more moderate revenue growth and a lower future P/E multiple, partly offset by slightly improved profit margin expectations and a small adjustment to the discount rate. What’s in the News for XTI Aerospace XTI Aerospace expanded its enterprise solutions portfolio with the addition of the RigiTech Eiger long-range delivery drone, a vertical takeoff and landing unmanned aircraft system aimed at logistics and delivery missions, according to a product-related announcement.

New Narrative • May 22

Autonomous And Defense Systems Push Will Reshape Long Term Prospects

Catalysts About XTI Aerospace XTI Aerospace focuses on commercial drone distribution and related autonomous and defense systems for enterprise and government customers. What are the underlying business or industry changes driving this perspective?

New Narrative • May 08

Defense And NDAA Drone Shifts Will Expose Structural Weaknesses Yet Eventually Support A Turnaround

Catalysts About XTI Aerospace XTI Aerospace focuses on drone distribution, drone related services and autonomous and defense systems for government and enterprise customers. What are the underlying business or industry changes driving this perspective?

New Narrative • Apr 23

Autonomous Defense Contracts And NDAA Shift Will Reshape This Drone Platform’s Future

Catalysts About XTI Aerospace XTI Aerospace operates a drone focused aerospace platform that combines distribution, manufacturing capabilities and autonomous defense systems work. What are the underlying business or industry changes driving this perspective?

Financial Position Analysis

Short Term Liabilities: XTIA has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: XTIA has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.

Debt to Equity History and Analysis

Debt Level: XTIA has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: XTIA's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: XTIA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: XTIA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 47.5% each year

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/07/23 21:50
End of Day Share Price	2026/07/23 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

XTI Aerospace, Inc. is covered by 1 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Tate Sullivan	Maxim Group

XTI Aerospace Balance Sheet Health

Financial Health criteria checks 0/6

Key information

Recent financial health updates

XTI Aerospace, Inc. announced delayed annual 10-K filing

XTI Aerospace, Inc. announced delayed 10-Q filing

XTI Aerospace, Inc. announced delayed 10-Q filing

XTI Aerospace, Inc. announced delayed annual 10-K filing

XTI Aerospace Regains Compliance with Nasdaq Listing Requirements

XTI Aerospace Receives Another Low Price Deficiency Letter from Nasdaq

Recent updates

XTIA: Acquisition Pipeline And Drone Expansion Will Support Future Upside Potential

Xti Aerospace Adds Rigitech Eiger Delivery Drone to Enterprise Portfolio

Autonomous And Defense Systems Push Will Reshape Long Term Prospects

XTI Aerospace, Inc. to Report Q1, 2026 Results on May 14, 2026

Defense And NDAA Drone Shifts Will Expose Structural Weaknesses Yet Eventually Support A Turnaround

Autonomous Defense Contracts And NDAA Shift Will Reshape This Drone Platform’s Future

XTI Aerospace, Inc. to Report Q4, 2025 Results on Apr 14, 2026

XTI Aerospace, Inc. announced delayed annual 10-K filing

XTI Aerospace, Inc. Provides Revenue Guidance for the Year 2026

Fyrish Ventures AB and Wegesrand Technologie Holding GmbH acquired Inpixon GmbH from XTI Aerospace, Inc. (NasdaqCM:XTIA) for €4.6 million.

XTI Aerospace, Inc. Appoints Jonathan G. Ornstein as Independent Director, Chair of Nominating and Corporate Governance Committee and Member of Audit and Compensation Committees

XTI Aerospace, Inc. Expands Drone Nerds LiDAR Portfolio with Freefly Systems FLUX Series

Xti Aerospace, Inc. Announces the Expansion of Drone Nerds' Gimbal Portfolio with the Addition of the Dji Rs 5 Gimbal Stabilizer

XTI Aerospace, Inc. Elects Clinton J. Weber as Class II Director

XTI Aerospace, Inc. announced delayed 10-Q filing

XTI Aerospace, Inc. announced that it expects to receive $25 million in funding from Unusual Machines, Inc.

XTI Aerospace Appoints Dr. Alex Williams as Executive Vice President of Technology to Accelerate Intelligent Aircraft Development

XTI Aerospace, Inc. and Valkyrie Sciences Announces Vanguard Platform Advancing TriFan 600 Next-Generation VTOL Aircraft for Commercial and Defense Applications

Ambassador Todd Chapman Joins XTI Aerospace's Corporate Advisory Board

XTI Aerospace, Inc., Annual General Meeting, Nov 14, 2025

XTI Aerospace, Inc. has completed a Follow-on Equity Offering.

XTI Aerospace, Inc. Ushers in New Era of Vertical Flight

XTI Aerospace, Inc. Completes Federal Aviation Administration Flight Technical Familiarization Review

Charlie Burgoyne Joins XTI Aerospace, Inc. Corporate Advisory Board

XTI Aerospace, Inc. Announces Settlement Agreement Resolves Arbitration Claims with Chardan

XTI Completes Federal Aviation Administration Propulsion Systems Review

XTI Completes Federal Aviation Administration Aircraft Structures Review

XTI Aerospace, Inc. has completed a Follow-on Equity Offering in the amount of $15.997338 million.

XTI Aerospace, Inc. Accelerates xVTOL Development by Collaboration with the U.S. Department of Energy's Oak Ridge National Laboratory Frontier Supercomputer

XTI Aerospace, Inc. Appoints Steve Griessel to Corporate Advisory Board

XTI Aerospace, Inc. announced delayed 10-Q filing

XTI Aerospace, Inc. Appoints Hanna Tomory to Corporate Advisory Board

XTI Aerospace, Inc. Appoints Preston Dunlap to Corporate Advisory Board

XTI Aerospace, Inc. Unveils the Latest TriFan 600 Subscale Model at Avalon Airshow in Australia

XTI Aerospace, Inc. Completes Global Finite Element Model for Latest TriFan 600 Configuration

XTI Aerospace, Inc. announced delayed annual 10-K filing

XTI Aerospace, Inc. has filed a Follow-on Equity Offering.

XTI Aerospace, Inc. Completes Design of TriFan 600 Flight Deck Mockup

XTI Aerospace, Inc. Provides TriFan Fuel System Design Update

XTI Aerospace, Inc. Appoints Archduke Sandor Habsburg-Lothringen to Its Corporate Advisory Board

XTI Aerospace, Inc. Provides TriFan Engine Air Inlet / Exhaust Update

XTI Aerospace, Inc. (NasdaqCM:XTIA) announces an Equity Buyback for $5 million worth of its shares.

XTI Aerospace, Inc. Provides Downwash Study Update

XTI Aerospace, Inc. Appoints Len Urbas as Senior Vice President of Corporate Development

XTI Aerospace Regains Compliance with Nasdaq Listing Requirements

XTI Aerospace Adds Stephanie Chung to its Corporate Advisory Board

XTI Aerospace, Inc. Adds Kimberly Montgomery to Its Corporate Advisory Board

XTI Aerospace Adds David Oppenheimer to Its Corporate Advisory Board

XTI Aerospace, Inc. has completed a Follow-on Equity Offering in the amount of $20.000008 million.

XTI Aerospace, Inc. has filed a Follow-on Equity Offering in the amount of $20 million.

XTI Aerospace, Inc., Annual General Meeting, Dec 27, 2024

XTI Aerospace, Inc. Announces Appointment of Javier De La Peña's to Corporate Advisory Board

XTI Aerospace Receives Another Low Price Deficiency Letter from Nasdaq

XTI Aerospace, Inc. Appoints Jennifer Gaines as Chief Legal Officer

XTI Aerospace, Inc. Releases Version 1.9 of Flight Transition Simulator for the TriFan 600

XTI Aerospace, Inc. Appoints Tobin Arthur as Chief Strategy Officer

XTI Aerospace, Inc. Provides Legal Proceeding Update

XTI Aerospace, Inc. announced that it has received $0.5775 million in funding

XTI Aerospace Receives Non-Compliance Letter from Nasdaq Regarding Minimum Bid Price

XTI Aircraft Company Submits Global PCT Patent Application for the TriFan 600 Vertical Takeoff Airplane

XTI Aerospace, Inc. announced delayed 10-Q filing

XTI Aerospace, Inc. Appoints Tensie Axton to Its Board of Directors

XTI Aerospace, Inc. announced that it expects to receive $1 million in funding

XTI Aerospace No Longer Complies with Nasdaq’s Independent Director and Audit Committee Requirements as Set Forth in Nasdaq Listing Rule 5605

XTI Aerospace, Inc. announced delayed annual 10-K filing

No independent directors

XTI Aerospace, Inc. Announces CEO Changes

Financial Position Analysis

Debt to Equity History and Analysis