#United States #Englewood #XTI Aerospace #TriFan 600 #xVTOL

XTI Aerospace Reports First Quarter 2025 Results

XTI Aerospace, a trailblazer in xVTOL and powered-lift aircraft technologies, has recently disclosed its financial results for the first quarter of 2025. By eliminating legacy debts and stock-related obligations, the company has reinforced its financial standing, setting the stage for a promising horizon.

In his remarks, Scott Pomeroy, the chairman and CEO, highlighted the positive momentum the company has experienced as it embarks on a transformative year. "We entered 2025 with notable advancements in our projects, particularly with the TriFan 600, while strategically enhancing our financial framework through wise capital management," Pomeroy stated.

Significant Financial Highlights in Q1 2025

• - Cash Boost: The company reported an increase in cash and cash equivalents of approximately $3.9 million, bringing the total to roughly $8 million.
• - Working Capital Growth: With net working capital surging by around $8.9 million, XTI Aerospace has significantly bolstered its financial buffer.
• - Debt Elimination: The company eliminated all outstanding secured promissory notes, liberating the assets of XTI Aircraft Company from previous security interests. As of the end of Q1 2025, they had nearly no interest-bearing debt left.
• - Refinancing Activities: XTI repaid its obligations under legacy management and resolved a number of inherited liabilities, paving the way for new capital-raising initiatives.

Key Developments and Milestones

XTI Aerospace has achieved several notable milestones that cement its position in the aerospace industry:
1. FAA Type Certification: The FAA accepted XTI's application for TriFan 600 Type Certification on March 17, 2025, marking a critical step toward regulatory approval.
2. Fuel System Advancement: The company successfully enhanced its wing fuel capacity from 300 gallons to 400 gallons, thereby augmenting the range and versatility of its aircraft.
3. Advisory Board Expansion: XTI Aerospace has expanded its corporate advisory board by including experts from sectors such as aerospace, defense, and AI, with individuals from leading organizations like Palantir Technologies and the U.S. Space Force joining its ranks.
4. Share Buyback Authorization: In a bid to tackle perceived undervaluation, the board approved a $5 million share repurchase program to stabilize the stock and bolster shareholder confidence.

Strategic Outlook for 2025

As XTI Aerospace projects towards the latter half of 2025, it remains fixated on refining the TriFan 600. The emphasis will be on engineering progress, ongoing certification processes, and identifying suppliers for critical components. Key priorities for the second quarter include:

• - Selection of engine and drivetrain suppliers.
• - Launch of the Sparrow, a smaller-scale model, to validate various flight dynamics.
• - Continued collaboration with the FAA for certification processes.
• - Preparation for reinitiating TriFan 600 pre-sales later this year.

Pomeroy expressed confidence in the company's trajectory, stating, "Our advancements in engineering and business development are setting the groundwork for an exhilarating second quarter. The feedback from our pilot projects and preparation for supplier selections is encouraging, and we're determined to redefine regional air mobility. Our shareholders' support is invaluable as we strive to create lasting value together."

XTI Aerospace, known for innovative solutions, aims to revolutionize air travel with the TriFan 600, a game-changing aircraft designed to incorporate a vertical takeoff and landing (VTOL) capability akin to helicopters, yet achieving jet-like cruising speeds. For further details about XTI Aerospace and ongoing projects, one can explore their official platform at XTIAerospace.com.