XTI Aerospace, Inc. (XTIA) Form 10-Q — Oct 20, 2026
XTI Aerospace filed its Q2 2026 10-Q more than two months late, delayed by an independent director review of its former CEO. The review found no misstatements, but management disclosed substantial doubt about the company's ability to continue as a going concern, with cash down to $7.2 million from $16.7 million at year-end. The distress deepened after quarter-end: on September 30, 2026, subsidiary XTI Drones Holdings missed a $1.5 million Seller Note payment, triggering events of default on October 11 and cross-defaults under its $20 million JPMorgan ABL facility with roughly $8.4 million outstanding.
Key figures
- Revenue
- 32449000
- Total Debt
- 13191000
- Total Assets
- 72840000
- Cash Position
- 7214000
- Abl commitment
- 20000000
- Abl outstanding
- 8400000
- Six month revenue
- 60145000
- Warrant liability
- 56482000
- Gross margin pct q2
- 17
- Seller notes outstanding
- 4500000
- Uas segment adjusted ebitda q2
- 2158000
- Pro forma revenue growth q2 pct
- 29
AI analysis
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