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XTI Aerospace's Business Update: A Transformative 2024 and Bold 2025 Ahead

In a significant announcement made on April 15, 2025, XTI Aerospace, Inc. (NASDAQ: XTIA) provided a comprehensive update on its business performance for the fiscal year ended December 31, 2024, along with a strong outlook for 2025. With a focus on innovation and growth in the realm of vertical takeoff and landing (VTOL) aircraft, XTI Aerospace is poised for a pivotal expansion in the coming years.

2024: A Year of Transformation

Scott Pomeroy, Chairman and CEO of XTI Aerospace, referred to 2024 as a transformative year for the company. Several key developments were highlighted:

• - Market Entry: XTI Aerospace made its public market debut on the Nasdaq Capital Market under the ticker symbol “XTIA” following a merger that combined XTI Aircraft Company and Inpixon in March 2024.
• - Aircraft Development: The TriFan 600, the flagship model of XTI, is designed to combine the speed and range of a regional business aircraft with the operational versatility of a helicopter. This innovative design seeks to revolutionize regional air mobility, catering to both commercial and specialized missions.
• - Technological Advances: The company successfully conducted a General Familiarization (GenFam) meeting with the FAA, which was attended by over 60 representatives. This meeting was a critical step towards type certification of the TriFan 600. Moreover, XTI filed new patent applications to secure its proprietary innovations related to the TriFan 600.
• - Flight Simulation Enhancements: The launch of Version 1.9 of the Flight Transition Simulator, which now includes One-Engine-Inoperative (OEI) capabilities, represents a significant leap in flight training technology.
• - Customer Engagement: The announcement that Mesa Airlines has committed to a conditional pre-order for up to 100 units of the TriFan 600 was noted as a major milestone in customer growth.

Furthermore, the formation of a Corporate Advisory Board, driven by industry veterans, reflects XTI's strategic initiative to bolster its executive leadership and diversity.

Exciting Developments in 2025

Entering 2025, XTI Aerospace is building on its previous successes with several key initiatives that promise to accelerate its growth trajectory:

• - Capital Increase: A successful equity offering raised $24 million in gross proceeds in the early months of 2025, providing a robust financial foundation for future projects.
• - FAA Certification Pursuit: The formal initiation of the FAA Type Certification process for the TriFan 600 emphasizes XTI's commitment to regulatory compliance and safety standards.
• - Design Innovations: Noteworthy progress was made in several critical areas including downwash/outwash studies, fuel system design, and aerodynamic optimization.
• - Expanding Advisory Board: The addition of strategic experts to the Corporate Advisory Board showcases an intent to incorporate diverse perspectives and expertise into the company’s vision.
• - Industry Recognition: XTI's subsidiary, Inpixon, received the “RTLS Solution of the Year” award, confirming its leadership in real-time location systems technology, an essential aspect of modern aviation operations.

A Vision for the Future

Pomeroy's comments underscore the company's ambitious vision: “2024 represented a pivotal turning point for our company, and we believe we have laid a strong foundation for the future.” With plans to continue enhancing its team, refining aircraft technologies, and reopening pre-orders for the TriFan 600 later in the year, XTI Aerospace is set to make significant strides in the evolving aviation landscape.

Their commitment to establishing leadership in the vertical economy positions them at the forefront of aviation innovation as they explore new frontiers in air mobility.

Conclusion

XTI Aerospace is not just looking back at a successful 2024 but is strategically poised for a dynamic and expansive 2025. The ambitious goals set forth, combined with a track record of innovation and adaptability, ensure XTI remains a vital player in the future of aerospace. As they continue to enhance their aircraft systems and technologies, aviation enthusiasts and industry experts alike eagerly await their next developments.