FORT LAUDERDALE, Fla., Nov. 12, 2026 /PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI Aerospace," "XTI," or the "Company"), parent company of Drone Nerds, LLC, ("Drone Nerds"), a leading drone solutions platform serving commercial, enterprise and government customers, today announced financial results for its third quarter ended September 30, 2026, and reiterated its outlook for 2026.
2026ThirdQuarterHighlights (Inpixon results excluded and reflected in discontinued operations):
- Revenue of $35.3 million, up 8.8% sequentially from the second quarter 2026 and up 46.1% from third quarter 2025 proforma revenue, partially driven by September demand ahead of Section 232 tariffs implemented this year
- Gross profit of $7.7 million
- Gross profit as a percentage of revenue of approximately 21.7%, inclusive of one-time benefits, primarily relating to tariff recoveries. Excluding the nonrecurring amounts, the gross profit margin was 16.0%.
- G&A reduced to 29.2% of sales from 39.2% in the first six months of 2026. Cost realignment initiatives included a reduction in corporate and development-division headcount, consolidation of office footprint, and termination of non-core consulting, vendor and software contracts
- Adjusted EBITDA of $1.6 million compared to negative $4.9 million in the second quarter of 2026
"Our strategic pivot to focus on our Drone Nerds business is substantially complete," said Jeremy Schneiderman, XTI Aerospace's Interim Chief Executive Officer. "We have discontinued the operation of the XTI aircraft business, rightsized our corporate overhead and are focused on the significant opportunity in the commercial and enterprise drone market. We are uniquely positioned to help our customers manage their drone programs from aircraft payloads, software, fleet management and training, to service and repair."
"We have continued to strengthen our product offerings over the last several months, adding pressure washing, airport detection and first responder programs to our portfolio. The growth opportunities we see across our portfolio combined with continued disciplined expense management is expected to lead to the transition to positive ongoing operating cash flows during the fourth quarter of 2026."
2026 Financial Outlook and Guidance:
- Full year 2026 revenue of $125 million to $130 million
- Full year 2026 gross profit as a percentage of revenue of 17 percent to 19 percent
The Company's outlook assumes, among other things, continued access to its asset-based credit facility and no material further changes in tariff policy, and is subject to the risks described below under "Cautionary Statement Regarding Forward-Looking Statements."
2026 Third Quarter and Recent Events:
- Announced partnership with AirSight, a drone detection and airspace security software solutions provider, to expand Drone Nerds' drone detection offerings within its enterprise solutions portfolio
- Introduced ABZ Innovation C30 High-Pressure Cleaning Drone to its Enterprise Portfolio
- Launched its Drone as First Responder (DFR) program, Evolver DFR, which gives police, fire, and emergency agencies everything they need to confidently send a drone to an emergency call
- Appointed Dr. Allan Evans as Chairman of the Board of Directors and Jeremy Schneiderman as Interim CEO
Liquidity and Reduction of Corporate Expenses
As of September 30, 2026, the Company had $5.7 million of unrestricted cash and cash equivalents and $11.9 million of remaining availability on the borrowing base under its credit facility at Drone Nerds.
During the second and third quarters the Company took significant action to reduce its corporate and ADS headcount and related compensation, to consolidate its office footprint, and to terminate non-core consulting, vendor and software contracts. Average monthly operating cash outflows of the Company's ADS and corporate operations (excluding Drone Nerds) during the third quarter were approximately $1.1 million per month, down approximately 42% from the second quarter, and 62% from the first quarter.
The Company has also recently restructured $4.7 million of promissory notes, which had previously been in default and also secured a cross-default waiver from JPMorgan Chase Bank, N.A. on our revolving credit facility.
Unaudited Supplemental Combined Financial Information
For purposes of this release, references to "supplemental combined" financial information refer to the unaudited supplemental combined financial information described below.
The Company has provided unaudited supplemental financial information of the combined company in this press release. The following financial information combines XTI and Drone Nerds historical operating results as if the businesses had been operated together on a combined basis during prior periods. This financial information is intended to illustrate the current operating footprint of the Company following the acquisition of Drone Nerds and divestiture of the Company's Industrial IoT / Real-Time Location Systems business.
The unaudited supplemental combined financial information is not "pro forma" financial information as that term is used in Article 11 of Regulation S-X. The unaudited supplemental combined financial information was not prepared in accordance with Article 11 of Regulation S-X and differs from the unaudited pro forma condensed combined financial information included in the Current Report on Form 8-K/A filed with the SEC on February 9, 2026 (the "Pro Forma 8-K Filing"), which was prepared in accordance with Article 11 of Regulation S-X and presented the year ended December 31, 2024 and the nine months ended September 30, 2025, which includes the 2025 periods shown in this press release, but did not present those periods separately. The unaudited supplemental combined financial information was not prepared in accordance with Article 11 of Regulation S-X and is presented for illustrative purposes to assist investors in understanding the operational performance of the combined business, timing and operational impact of the acquisition, and integration of the combined business, and should not be considered a substitute for the pro forma financial information included in the Company's prior filings prepared in accordance with Article 11 of Regulation S-X.
Consequently, the unaudited supplemental combined financial information is intentionally different from, but does not supersede, the pro forma financial information set forth in the Pro Forma 8-K Filing or the pro forma financial information set forth in the Company's most recent annual report on Form 10-K.
In addition, the unaudited supplemental combined financial information does not purport to indicate the results that actually would have been obtained had the companies been operated together during the periods presented, or which may be realized in the future. The unaudited supplemental combined financial information has no impact on XTI's or Drone Nerds' previously reported consolidated balance sheets or statements of operations, cash flows or equity.
XTI Aerospace, Inc. and Subsidiaries
Pro Forma(1) Combined Financial Data
(Unaudited)
Three Months Ended September
30,
(in thousands, except percentages) 2026 2025
$ Change % Change
Revenues $35,314 $24,164 $11,150 46 %
Cost of revenues 27,637 19,133 8,504 44 %
Gross profit 7,677 5,031 2,646 53 %
Operating expenses 12,675 17,189 (4,514) (26) %
Loss from operations (4,998) (12,158) 7,160 (59) %
Other expense, net 31,673 1,034 30,639 2963 %
Income tax expense - - %
Pro forma net income (loss) from continuing $26,675 $(11,124) $37,799 (340) %
operations
(1) For information on unaudited supplemental combined financial information presented, see the section titled "Unaudited
Supplemental Combined Financial Information" in this press release.
The unaudited supplemental combined financial information excludes non-recurring transaction-related costs associated with the Drone Nerds acquisition.
ConferenceCall
The Company will host a live webcast on Thursday, November 12, 2026 at 4:30 PM ET, which will consist of a live question and answer session with Jeremy Schneiderman, Interim Chief Executive Officer and Brooke Turk, Chief Financial Officer.
Investors and analysts are invited to participate and may register in advance using this link: https://xti-aerospace-3q-2026-conference-call.open-exchange.net/. The registration link is also available in the "Investor Relations" section of the Company's website under "IR News & Events." Dial-in information will be included upon registration.
The replay of the event will be publicly available to all investors in the Investor Relations section, under "IR News & Events" section of the Company's website at xtiaerospace.com following the conclusion of the question and answer session and will remain available for 30 days.
About XTI Aerospace, Inc.
XTI Aerospace, Inc. ("XTI") (Nasdaq: XTIA) is focused on building a leading platform for commercial and government drone adoption in the growing unmanned aircraft systems ("UAS") industry. Through its subsidiary, Drone Nerds, LLC, XTI supports enterprise and government customers in sectors including public safety, agriculture, construction, and energy across the drone program lifecycle, from hardware sourcing and deployment to training, service, repair, and the proprietary Always Flying™ program. Its established U.S. customer base and reputation as a trusted solutions provider position the company as a go-to-market partner for drone manufacturers and software developers seeking to scale in the domestic market.
For more information about XTI, please visit xtiaerospace.com and follow XTI on LinkedIn, Instagram, X, and YouTube.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release are forward-looking statements.
Forward-looking statements may be identified by words such as "believe," "continue," "could," "would," "will," "expect," "intend," "plan," "target," "estimate," "project," or similar expressions. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, the Company's ability to continue as a going concern, the Company's ability to maintain the listing of its common stock on Nasdaq, the impact of Section 232 tariffs and other trade measures; pending regulatory inquiries and proceedings relating to the Company and its subsidiaries; potential conflicts of interest arising from its Interim Chief Executive Officer's economic interest in the holders of its acquisition-related notes, market adoption, regulatory requirements, supply chain conditions, technological development, integration of the acquired businesses, the Company's liquidity and ability to access additional capital on acceptable terms or at all, the Company's stockholders' equity and the sufficiency of its capital resources, and changes in applicable laws or regulations, customer demand variability and seasonal purchasing patterns, the Company's ability to achieve projected gross margins and operating cost reductions, working capital timing and inventory management, the outcome of pending legal proceedings involving the Company and its subsidiaries, the Company's ability to maintain relationships with key suppliers, restrictions and covenants under the Company's ABL credit facility, risks related to the wind-down of the Company's ADS division and the development of its ATM division, which has not generated revenues, and the potential for significant non-cash charges related to changes in the fair value of warrant liabilities as well as the other risks and uncertainties described in the Company's filings with the SEC. The Company's financial outlook and other projections in this press release are based on management's current expectations and assumptions and are particularly subject to these risks. XTI undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law. Readers are encouraged to review the risk factors described in XTI's filings with the SEC, including its most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and subsequent filings.
Non-GAAP Measures
This press release contains certain financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"). XTI uses earnings before interest, income taxes, depreciation amortization ("EBITDA") and Adjusted EBITDA and important supplemental measures of the Company's operating performance.
A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures for historical periods is provided in Schedule 1. As noted above under "2026 Financial Outlook and Guidance," the Company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts due to the inherent difficulty in forecasting and quantifying certain reconciling items, including, without limitation, changes in the fair value of warrant liability.
The Company's 2026 financial outlook is based on management's current expectations and assumptions regarding customer demand, product availability, gross margin trends, operating cost levels, and the timing of working capital normalization. These targets are forward-looking statements and are subject to the risks and uncertainties described below and in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including with respect to pending legal proceedings, liquidity, the Company's capital structure and the other matters described under "Cautionary Statement Regarding Forward-Looking Statements" below.
The Company has not provided a reconciliation of forward-looking Adjusted EBITDA or other forward-looking non-GAAP measures to the most directly comparable GAAP financial measures because certain reconciling items, including changes in the fair value of warrant liability and other items, depend on future events outside the Company's control and cannot be reasonably predicted or determined without unreasonable efforts. The variability of these items could have a significant and potentially unpredictable impact on future GAAP results.
Contacts:
General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact
Investor Relations:
IR@xtiaerospace.com
XTI Aerospace, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended Nine Months Ended
September 30,
September 30,
2026 2025 2026 2025
(Unaudited)
(Unaudited)
Revenues $35,314
$ - $95,459
$ -
Cost of Revenues 27,637 76,993
Gross Profit 7,677 18,466
Operating Expenses
Research and development 163 1,449 1,937 3,953
Sales and marketing 1,810 2,071 6,148 3,280
General and administrative 10,321 9,857 33,922 20,127
Merger and acquisition transaction costs 134 458 224 458
Amortization of intangible assets 247 8 705 24
Total Operating Expenses 12,675 13,843 42,936 27,842
Loss from Operations (4,998) (13,843) (24,470) (27,842)
Other Income (Expense)
Interest expense, net (278) (1) (580) (219)
Loss on extinguishment of debt - (421)
Warrant issuance expense - (785) (6,580)
Change in fair value of warrant liability 32,023 2,151 18,989 (3,280)
Other (72) 140 (349)
Total Other Income (Expense) 31,673 1,365 18,549 (10,849)
Income (Loss) from Continuing Operations Before 26,675 (12,478) (5,921) (38,691)
Income Taxes
Income tax benefit - 6
Net Income (Loss) from Continuing Operations, net of 26,675 (12,478) (5,921) (38,685)
tax
Loss from operations of discontinued component, (100) (968) (4,952) (8,491)
inclusive of tax
Net income (Loss) 26,575 (13,446) (10,873) (47,176)
Net income attributable to noncontrolling interest 573 1,149
Net Income (Loss) Attributable to XTI Aerospace, Inc. 26,002 (13,446) (12,022) (47,176)
Less: Preferred stock dividends - 42 29
Net Income (Loss) Attributable to Common $26,002 $(13,446) $(12,064) $(47,205)
Stockholders
Net Income (Loss) Per Share - Basic:
Continuing operations $0.68 $(0.57) $(0.19) $(3.55)
Discontinued operations
$ - $(0.04) $(0.13) $(0.78)
Net income (Loss) per share $0.68 $(0.61) $(0.32) $(4.33)
Net Income (Loss) Per Share - Diluted:
Continuing operations $0.19 $(0.57) $(0.19) $(3.55)
Discontinued operations
$ - $(0.04) $(0.13) $(0.78)
Net income (Loss) per share $0.19 $(0.61) $(0.32) $(4.33)
Weighted Average Shares Outstanding, Basic 38,477,789 22,065,141 37,403,649 10,914,152
Weighted Average Shares Outstanding, Diluted 60,322,244 22,065,141 37,403,649 10,914,152
XTI Aerospace, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
September 30, December 31,
2026 2025
(Unaudited)
Assets
Current Assets
Cash and cash equivalents $5,657 $16,696
Accounts receivable, net 11,892 12,093
Inventories 17,807 15,400
Prepaid expenses and other current assets 5,552 3,989
Current assets of discontinued operations (Note 17) - 3,645
Total Current Assets 40,908 51,823
Property and equipment, net 407 385
Operating lease right-of-use asset, net 1,341 2,965
Intangible assets, net 8,650 9,338
Goodwill 13,393 11,544
Note receivable 4,394
Other assets 778 403
Non-current assets of discontinued operations (Note 17) - 4,788
Total Assets $69,871 $81,246
September 30, December 31,
2026 2025
(Unaudited)
Liabilities, Mezzanine Equity, and Stockholders' Equity (Deficit)
Current Liabilities
Accounts payable $2,152 $5,212
Accrued expenses and other current liabilities 6,820 6,556
Customer deposits 2,689 3,071
Warrant liability 24,459 22,561
Operating lease obligation, current 635 550
Note payable - related party 450
Acquisition-related promissory note - related party, current 726 7,931
Asset-based revolving line of credit 5,928
Income tax payable 1,600
Current liabilities of discontinued operations (Note 17) - 1,722
Total Current Liabilities 45,459 47,603
Note payable - related party - 450
Operating lease obligation, noncurrent 736 2,427
Acquisition-related promissory note - related party, noncurrent 3,930
Other non-current liabilities 60
Non-current liabilities of discontinued operations (Note 17) - 322
Total Liabilities 50,185 50,802
Commitments and Contingencies (Note 13)
Mezzanine Equity
Representative and placement agent warrants, net of issuance costs 2,701 2,701
Stockholders' Equity
Preferred Stock - $0.001 par value; 5,000,000 shares authorized -
Series 4 Convertible Preferred Stock - $0.001 par value; 10,415 shares authorized; 1 share -
issued and outstanding as of September 30, 2026 and December 31, 2025
Series 5 Convertible Preferred Stock - $0.001 par value; 12,000 shares authorized; 126 shares -
issued and outstanding as of September 30, 2026 and December 31, 2025
Series 9 Convertible Preferred Stock - $0.001 par value; 20,000 shares authorized; 0 shares -
issued and outstanding as of September 30, 2026 and December 31, 2025, respectively
Series 10 Convertible Preferred Stock - $0.001 par value; 25,000 shares authorized; 0 and - 21,793
25,000 shares issued and outstanding as of September 30, 2026 and December 31, 2025,
respectively
Common Stock - $0.001 par value; 500,000,000 shares authorized; 38,477,789 and 32,786,816 38 33
shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively
Additional paid-in capital 180,138 157,354
Accumulated other comprehensive income - 881
Accumulated deficit (174,345) (162,323)
Total Stockholders' Equity 5,831 17,738
Noncontrolling interest - Class B Units of XTI Drones Holdings, LLC 11,154 10,005
Total Equity 16,985 27,743
Total Liabilities, Mezzanine Equity, and Equity $69,871 $81,246
XTI Aerospace, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Nine Months Ended September
30,
(amounts in thousands, unaudited) 2026 2025
Cash Flows Used in Operating Activities
Net loss $(10,873) $(47,176)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization 163 103
Amortization of intangible assets 688 206
Amortization of right-of-use asset 560 100
Non-cash interest expense, net 31 145
Stock-based compensation 14,037 7,527
Impairment of goodwill - 4,049
Impairment of intangible assets - 631
Loss on extinguishment of debt - 421
Warrant issuance expense - 6,580
Change in fair value of warrant liability (18,989) 3,280
Loss on sale of Inpixon division 831
Other 1 20
Changes in operating assets and liabilities:
Accounts receivable and other receivables 1,480 (1,293)
Inventories (2,389) 1,016
Prepaid expenses and other current assets (875) 101
Other assets 35 287
Accounts payable (3,116) (1,940)
Related party payables - (51)
Accrued expenses and other current liabilities 27 (4,600)
Customer deposits (85) 336
Operating lease obligation (529) (98)
Net Cash Used in Operating Activities (19,003) (30,356)
Cash Flows Used in Investing Activities
Purchase of property and equipment (228) (126)
Net cash paid on disposal of the Inpixon Business (694)
Net Cash Used in Investing Activities (922) (126)
Cash Provided by Financing Activities
Proceeds from the exercise of liability classified warrants 7,927 4,061
Proceeds from other debt 60
Payment of offering costs and commissions in connection with exercise of liability classified warrants (488)
Net proceeds from sale of common stock and pre-funded warrants via public offerings - 57,051
Net proceeds from ATM stock offering - 1,667
Redemption of Series 9 preferred stock - (1,427)
Borrowings on Asset-Based Revolving Line of Credit (Drone Nerds) 89,456
Repayment of borrowings on Asset-Based Revolving Line of Credit (Drone Nerds) (83,528)
Payment of debt issuance costs (565)
Repayments of promissory notes - related party (3,500) (2,784)
Net Cash Provided by Financing Activities 9,362 58,568
Effect of Foreign Exchange Rate on Changes on Cash 20 7
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (10,543) 28,093
Cash, Cash Equivalents and Restricted Cash - Beginning of period 16,919 4,105
Cash, Cash Equivalents and Restricted Cash - End of period $6,376 $32,198
XTI Aerospace, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(In thousands)
(Unaudited)
Three Months Ended September
30,
(in thousands, except percentages) 2026 2025
$ Change % Change
Revenues $35,314 $24,164 $11,150 46 %
Cost of revenues 27,637 19,133 8,504 44 %
Gross profit 7,677 5,031 2,646 53 %
Operating expenses 12,675 17,189 (4,514) (26) %
Loss from operations (4,998) (12,158) 7,160 (59) %
Other expense, net 31,673 1,034 30,639 2963 %
Income tax expense - - %
Pro forma net income (loss) from continuing $26,675 $(11,124) $37,799 (340) %
operations
Reconciliation of Pro Forma EBITDA and Pro
Forma Adjusted EBITDA
Pro forma net loss from continuing operations 26,675 (11,124)
Interest expense, net 278 353
Income tax expense -
Depreciation and amortization 281 262
Pro Forma EBITDA $27,234 $(10,509) $37,743 (359) %
Change in fair value of warrant liability (32,023) (2,151)
Severance and restructuring charges 817
Stock-based compensation expense 5,417 6,283
Selected charges that are unusual or non-recurring (1) 134 785
Pro Forma Adjusted EBITDA $1,579 $(5,592) $7,171 (128) %
Pro forma Margins:
Gross margin 22 % 21 %
Pro Forma Adjusted EBITDA Margin 4 % (23) %
(1) Includes warrant issue expense, change in fair value of investment, loss on extinguishment of debt, and other adjustments
that management believes are non-recurring.
Nine Months Ended September
30,
(in thousands, except percentages) 2026 2025
$ Change Change*
Revenues $95,459 $79,881 $15,578 20 %
Cost of revenues 76,993 61,575 15,418 25 %
Gross profit 18,466 18,306 160 1 %
Operating expenses 42,936 37,979 4,957 13 %
Loss from operations (24,470) (19,673) (4,797) 24 %
Other expense, net 18,549 (11,989) 30,538 (255) %
Income tax benefit 6 (6) (100) %
Pro forma net loss from continuing operations $(5,921) $(31,656) $25,735 (81) %
Reconciliation of Pro Forma EBITDA and Pro
Forma Adjusted EBITDA
Pro forma net loss from continuing operations (5,921) (31,656)
Interest expense, net 580 1,434
Income tax benefit (6)
Depreciation and amortization 831 781
Pro Forma EBITDA $(4,510) $(29,447) $24,937 (85) %
Change in fair value of warrant liability (18,989) 3,280
Severance and restructuring charges 1,171
Stock-based compensation expense 13,866 7,362
Selected charges that are unusual or non- 224 7,345 (1)
recurring (1)
Pro Forma Adjusted EBITDA $(8,238) $(11,460) $3,222 (28) %
Pro forma Margins:
Gross margin 19 % 23 %
Pro Forma Adjusted EBITDA Margin (9) % (14) %
(1) Includes warrant issue expense, change in fair value of investment, loss on extinguishment of debt, and other adjustments
that management believes are non-recurring.
Schedule 1
XTI Aerospace, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
EBITDA and Adjusted EBITDA
(In thousands)
(Unaudited)
EBITDA and Adjusted EBITDA
XTI Aerospace defines EBITDA as net income (loss) before interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for certain items including, (i) non-cash stock-based compensation expense; (ii) severance and restructuring charges; (iii) change in the fair value of warrant liability; and (iv) selected charges that are unusual or non-recurring.
The Company believes that EBITDA and Adjusted EBITDA financial measures assist our board of directors, management, investors, and lenders in comparing our operating performance and establishing operational goals on a consistent basis across periods by removing the effects of our capital structure and other items that impact the comparability of financial results from period to period. We present EBITDA and Adjusted EBITDA because we believe they provide useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The most comparable GAAP financial measures, net income, and information reconciling the GAAP and non-GAAP financial measures are included in the table below:
Three Months Ended Nine Months Ended
September 30, September 30,
(in thousands) 2026 2025 2026 2025
Net income (loss) from continuing operations $
26,675 $
(12,478) $
(5,921) $
(38,685)
Interest expense, net 278 1 580 219
Income tax benefit (6)
Depreciation and amortization 281 24 831 66
EBITDA $
27,234 $
(12,453) $
(4,510) $
(38,406)
Change in fair value of warrant liability (32,023) (2,151) (18,989) 3,280
Severance and restructuring charges 817 1,171
Stock-based compensation expense 5,417 6,283 13,866 7,362
Selected charges that are unusual or non-recurring (1) 134 785 224 7,345
Adjusted EBITDA $
1,579 $
(7,536) $
(8,238) $
(20,419)
(1) Includes warrant issue expense, change in fair value of investment, loss on extinguishment of debt, and other adjustments that
management believes are non-recurring.
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SOURCE XTI Aerospace, Inc.
