FORT LAUDERDALE – October 29, 2026 -- XTI Aerospace (Nasdaq: XTIA) reported preliminary third-quarter revenue of $35.3 million, in line with its 2026 outlook of $125 million to $130 million. The company is still working to restructure its acquisition-related notes and cure defaults under its credit facility.
The figure is unaudited. It remains subject to quarter-end closing procedures and review by the company's independent registered public accounting firm, and actual results may differ materially.
Revenue rose about 9% sequentially on enterprise drone demand
Interim CEO Jeremy Schneiderman attributed the roughly 9% increase over the second quarter to enterprise drone solutions and a broader product range. The range covers public safety, government, energy, infrastructure, agriculture and commercial markets. Schneiderman also cited lower corporate overhead and reduced cash burn in the quarter as "progress on our plan."
Drone Nerds, XTI's drone solutions subsidiary, serves commercial, enterprise and government customers.
Cross-defaults and a December 31 deadline pressure liquidity
XTI is seeking a waiver of existing cross-defaults under its asset-based credit facility. It must also restructure or repay its acquisition-related promissory notes before a limited waiver period expires. That period can end on ten days' notice from the noteholders and in any event no later than December 31, 2026.
The company cited the risk that its lender could decline further advances or accelerate outstanding borrowings. It also disclosed substantial doubt about its ability to continue as a going concern, negative stockholders' equity, and risks to its Nasdaq listing.
Related-party interest and tariffs add to the risk profile
XTI flagged a potential conflict of interest: Schneiderman holds an economic interest in the holders of the acquisition-related notes. Other disclosed risks include Section 232 tariffs, pending regulatory inquiries and legal proceedings, and possible significant non-cash charges tied to warrant liabilities.
The company is winding down its ADS division. Its ATM division has not generated revenues.