XTIA · XTI Aerospace, Inc.

XTI Aerospace's Q4 and FY 2025 results reflect a transformative shift via the November 2025 $40M acquisition of Drone Nerds, LLC and Anzu Robotics, LLC, which drove pro forma revenue to $41.7M in Q4 (55% YoY growth) and $121.6M for the year (9% YoY), with gross margins expanding to 19.5% and 22.0% respectively due to the scaled drone distribution platform. GAAP results show $22.5M revenue from continuing operations, excluding Inpixon divested to discontinued operations, highlighting the impact of integrating high-volume drone sales serving enterprise and government customers. CEO Scott Pomeroy emphasized the 'flywheel' strategy across XTI Drones (commercial access), Advanced Technology and Manufacturing (U.S.-based NDAA-compliant production), and Autonomous Defense Systems (high-value defense opportunities), leveraging Drone Nerds' market intelligence for expansion. Liquidity stood at $16.7M unrestricted cash at year-end, bolstered by a $20M JPMorgan ABL facility, $25M investment from Unusual Machines, and $7.7M post-filing warrant exercise proceeds. Guidance targets $160M+ 2026 revenue, signaling confidence in executing amid regulatory tailwinds like FCC restrictions on foreign drones, positioning XTI to capture domestic demand while managing supplier concentration risks.