What is XTI Aerospace, Inc.'s earnings per share (EPS)?

XTI Aerospace, Inc. (XTIA) reported diluted earnings per share of -$4.24 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

XTI Aerospace, Inc. (XTIA) Financials

XTIA

Trailing 12 months to March 31, 2026

Revenue $49.7M +1334.0% YoY

Net Income -$91.2M -98.7% YoY

EPS (Diluted) -$4.24 FY2025 annual

Free Cash Flow -$32.1M +8.5% YoY

Market Cap $34.9M as of Oct 9, 2026

Price / Sales 0.7x on $49.7M revenue, trailing 12 months to March 31, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to March 31, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 14, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XTIA SEC filings page.

XTI Aerospace, Inc. (XTIA) reported $49.7M in revenue over the twelve months to Mar 31, 2026, up 1334.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI XTIA FY2025 2026-10-04

Revenue returned in FY2025, but higher selling costs and working-capital needs kept the business dependent on outside financing.

Cash conversion is weak for an operating reason, not a construction-spending reason: operating cash flow was an outflow of $36.6M while free cash flow was an outflow of $36.8M, with capital expenditures of only $215K. The near-equal figures show that day-to-day operations, rather than reinvestment, consumed nearly all reported cash.

The 2025 rebound to $22.5M of revenue restored gross profit to $4.9M, but gross margin compressed to 21.9% from 59.0% in FY2024. At the same time, selling, general and administrative expense rose to $32.8M, leaving operating losses of $42.8M; growth therefore did not yet translate into operating improvement.

Working capital expanded sharply: inventory reached $15.4M and receivables $12.1M in FY2025, helping lift the current ratio to 1.1x from 0.5x but tying more resources to the sales process. Financing provided $68.2M during the year, while reported liquidity equaled 5.5 months of the latest annual operating outflow.

Financial Health Signals

Financial Health Score 32/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of XTI Aerospace, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

XTI Aerospace, Inc. held $16.7M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $36.6M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and XTI Aerospace, Inc. scores 20/100 among other emerging companies.

Dilution

XTI Aerospace, Inc. had 38M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and XTI Aerospace, Inc. scores 11/100 among other emerging companies.

R&D Intensity

XTI Aerospace, Inc. spent $5.2M on research and development in fiscal year 2025, which was 8.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and XTI Aerospace, Inc. scores 31/100 among other emerging companies.

Revenue Progress

XTI Aerospace, Inc. reported revenue of $22.5M in fiscal year 2025, against $3.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and XTI Aerospace, Inc. scores 88/100 among other emerging companies.

Burn Trend

XTI Aerospace, Inc.'s operations used $36.6M of cash in fiscal year 2025, against $22.3M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and XTI Aerospace, Inc. scores 4/100 among other emerging companies.

Balance Sheet

XTI Aerospace, Inc.'s cash, cash equivalents and investments came to $16.7M at the end of fiscal year 2025, against $50.8M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and XTI Aerospace, Inc. scores 35/100 among other emerging companies.

Altman Z-Score Distress

-3.79

XTI Aerospace, Inc. scores -3.79, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($34.9M) relative to total liabilities ($50.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

XTI Aerospace, Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

XTI Aerospace, Inc. reported a net loss of $68.8M while operations used $36.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

XTI Aerospace, Inc. reported an operating loss of $42.8M against $300K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$27.7M

YoY+5622.3%

QoQ+46.4%

XTI Aerospace, Inc. generated $27.7M in revenue in Q1 2026. This represents an increase of 5622.3% from the same quarter a year earlier. Against the prior quarter it is up 46.4%.

EBITDA

-$10.3M

YoY-26.5%

QoQ-19.7%

XTI Aerospace, Inc.'s EBITDA was -$10.3M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 26.5% from the same quarter a year earlier. Against the prior quarter it is down 19.7%.

Net Income

-$35.3M

YoY-174.0%

QoQ-63.4%

XTI Aerospace, Inc. reported -$35.3M in net income in Q1 2026. This represents a decrease of 174.0% from the same quarter a year earlier. Against the prior quarter it is down 63.4%.

EPS (Diluted)

-$1.00

QoQ-1211.1%

XTI Aerospace, Inc. earned -$1.00 per diluted share (EPS) in Q1 2026. Against the prior quarter it is down 1211.1%.

Cash & Balance Sheet

Free Cash Flow

-$10.6M

YoY+30.8%

QoQ-66.9%

XTI Aerospace, Inc. recorded an outflow of $10.6M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 30.8% from the same quarter a year earlier. Against the prior quarter it is down 66.9%.

Cash & Debt

$15.2M

YoY+89.6%

QoQ-9.1%

5Y CAGR-20.0%

10Y CAGR+18.2%

XTI Aerospace, Inc. held $15.2M in cash against $10.6M in long-term debt as of Q1 2026.

Shares Outstanding

38M

QoQ0.0%

5Y CAGR-19.2%

10Y CAGR+4.4%

XTI Aerospace, Inc. had 38M shares outstanding in Q1 2026. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Gross Margin

18.6%

YoY-50.6pp

QoQ+2.6pp

XTI Aerospace, Inc.'s gross margin was 18.6% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 50.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Operating Margin

-37.5%

QoQ+8.4pp

XTI Aerospace, Inc.'s operating margin was -37.5% in Q1 2026, reflecting core business profitability. Against the prior quarter it is up 8.4 percentage points. No change is given against Q1 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for Q1 2026.

Capital Allocation

R&D Spending

$1.2M

YoY+6.5%

QoQ+561.3%

XTI Aerospace, Inc. invested $1.2M in research and development in Q1 2026. This represents an increase of 6.5% from the same quarter a year earlier. Against the prior quarter it is up 561.3%.

Capital Expenditures

$131K

YoY+191.1%

QoQ+47.2%

5Y CAGR+3.7%

10Y CAGR+10.6%

XTI Aerospace, Inc. invested $131K in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 191.1% from the same quarter a year earlier. Against the prior quarter it is up 47.2%.

Share Buybacks

Not reported for Q1 2026.

XTIA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

XTIA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Revenue	$49.7M	$22.5M+602.4%	$3.2M-29.8%	$4.6M-76.5%	$19.4M+21.4%	$16.0M+72.0%	$9.3M+47.5%	$6.3M+67.8%	$3.8M-4.5%	$3.9M-92.6%	$53.2M-20.6%	$67.0M+6.4%	$62.9M+24.5%	$50.6M
Cost of Revenue	$40.0M	$17.6M+1237.1%	$1.3M-9.9%	$1.5M-31.3%	$2.1M-22.3%	$2.7M+4.4%	$2.6M+62.4%	$1.6M+228.4%	$490K-0.8%	$494K-98.7%	$38.2M-19.7%	$47.6M+7.7%	$44.2M+15.4%	$38.3M
Gross Profit	$9.7M	$4.9M+160.6%	$1.9M-39.2%	$3.1M-22.2%	$4.0M-65.7%	$11.6M+73.9%	$6.7M+42.5%	$4.7M+75.1%	$2.7M-0.9%	$2.7M-81.9%	$14.9M-22.8%	$19.3M+3.1%	$18.7M+52.9%	$12.3M
R&D Expenses	$5.3M	$5.2M+166.0%	$2.0M+42.7%	$1.4M-69.2%	$4.5M-68.2%	$14.1M+116.2%	$6.5M+67.6%	$3.9M+216.2%	$1.2M+27.7%	$964K-57.7%	$2.3M+258.6%	$635K+3.1%	$616K	N/A
SG&A Expenses	$37.8M	$32.8M+67.1%	$19.7M+443.8%	$3.6M-74.3%	$14.1M-32.7%	$20.9M+36.8%	$15.3M+11.7%	$13.7M-3.5%	$14.1M+30.1%	$10.9M-28.8%	$15.3M+7.3%	$14.2M+19.2%	$11.9M	N/A
Operating Income	-$45.0M	-$42.8M-44.3%	-$29.7M-290.9%	-$7.6M+60.6%	-$19.2M+73.5%	-$72.7M-205.7%	-$23.8M-14.3%	-$20.8M-13.1%	-$18.4M-22.4%	-$15.0M+36.6%	-$23.7M-107.9%	-$11.4M-48.1%	-$7.7M-96.8%	-$3.9M
EBITDA	N/A	-$42.7M-44.4%	-$29.6M-290.0%	-$7.6M+59.8%	-$18.8M+74.0%	-$72.3M-205.3%	-$23.7M-20.4%	-$19.7M-17.0%	-$16.8M-28.0%	-$13.1M+41.3%	-$22.4M-108.1%	-$10.8M-45.1%	-$7.4M-95.4%	-$3.8M
Interest Expense	$300K	$300K0.0%	$300K-50.0%	$600K+200.0%	-$600K-150.8%	$1.2M+148.7%	-$2.4M-6.5%	-$2.3M-83.5%	-$1.2M-132.5%	$3.8M+119.2%	$1.7M+289.1%	$448K+15.8%	$387K+222.9%	-$315K
Income Tax	N/A	-$10K-162.5%	$16K-33.3%	$24K+113.3%	-$181K-104.8%	$3.8M+6866.1%	-$56K+90.4%	-$584K	N/A	$0	$0	N/A	N/A	N/A
Net Income	-$91.2M	-$68.8M-93.1%	-$35.6M	N/A	-$63.4M+8.3%	-$69.2M-136.6%	-$29.2M+14.0%	-$34.0M-38.3%	-$24.6M+29.8%	-$35.0M-29.1%	-$27.1M-131.4%	-$11.7M-55.5%	-$7.5M-76.8%	-$4.3M
EPS (Basic)	N/A	-$4.24+97.4%	-$162.78+89.7%	-$1576.48+53.8%	-$3412.09-6566.8%	-$51.18-4967.3%	-$1.01	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	—	-$4.24	-$162.78+89.7%	-$1576.48+53.8%	-$3412.09	-$51.18	-$1.01	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	16M	227,193+1328.9%	15,900-31.8%	23,320	2M	29M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$27.7M+5622.3%	$18.9M+1731.8%	$2.5M+170.6%	$600K-41.8%	$484K+120.0%	$1.0M	$918K	$1.0M
Cost of Revenue	$22.6M+15034.2%	$15.9M+3296.6%	$1.4M+253.5%	$117K-68.3%	$149K+88.6%	$468K	$398K	$369K
Gross Profit	$5.1M+1436.1%	$3.0M+435.6%	$1.1M+107.1%	$483K-27.0%	$335K+137.6%	$565K	$520K	$662K
R&D Expenses	$1.2M+6.5%	$181K-79.2%	$2.0M+61.6%	$1.9M+69.9%	$1.1M+142.2%	-$870K	$1.2M+160.2%	$1.1M+193.6%
SG&A Expenses	$11.7M+72.8%	$11.0M+239.6%	$11.1M+384.3%	$3.9M-68.2%	$6.8M+295.8%	$3.2M	$2.3M+132.1%	$12.4M+326.5%
Operating Income	-$10.4M-26.7%	-$8.7M-227.9%	-$14.8M-251.3%	-$11.1M+20.1%	-$8.2M+7.6%	-$2.6M	-$4.2M-77.3%	-$13.9M-244.6%
EBITDA	-$10.3M-26.5%	-$8.6M-230.2%	-$14.8M-253.3%	-$11.1M+20.1%	-$8.2M+7.8%	-$2.6M	-$4.2M	-$13.9M
Interest Expense	$200K0.0%	$99K+112.4%	$1K-99.8%	$0-100.0%	$200K-50.0%	-$800K	$400K+33.3%	$300K0.0%
Income Tax	N/A	-$5K	$1K	$9K-25.0%	-$15K-475.0%	$0	$0	$12K
Net Income	-$35.3M-174.0%	-$21.6M-55.8%	-$13.4M-203.2%	-$20.9M-41.8%	-$12.9M-394.7%	-$13.9M	-$4.4M-64.1%	-$14.7M-217.8%
EPS (Basic)	-$1.00+73.7%	$0.09-99.9%	-$0.61-1726.3%	-$2.93+98.9%	-$3.80+96.9%	$145.75+293.1%	-$0.03+94.9%	-$261.99-21916.0%
EPS (Diluted)	-$1.00	$0.09-99.9%	-$0.61	-$2.93	-$3.80	$145.75+293.1%	-$33.40	-$261.99
Diluted Shares (Avg)	35M	N/A	22M	7M	3M	N/A	139,944	58,857

XTIA Balance Sheet

XTIA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Total Assets	$81.2M+234.5%	$24.3M+4672.3%	$509K-99.1%	$57.6M-63.2%	$156.7M+165.5%	$59.0M+178.1%	$21.2M+74.2%	$12.2M-56.0%	$27.7M-58.3%	$66.5M-3.3%	$68.7M+10.7%	$62.1M+59.6%	$38.9M
Current Assets	$51.8M+503.9%	$8.6M+3614.7%	$231K-99.2%	$29.9M-71.8%	$106.0M+249.4%	$30.3M+348.3%	$6.8M+101.6%	$3.4M-63.6%	$9.2M-69.4%	$30.1M+5.4%	$28.6M+29.7%	$22.1M+11.2%	$19.8M
Cash & Equivalents	$16.7M+320.3%	$4.0M+79340.0%	$5K-99.9%	$9.3M-78.1%	$42.5M+136.1%	$18.0M+276.7%	$4.8M+373.9%	$1.0M+747.1%	$119K-93.5%	$1.8M-55.1%	$4.1M+25.8%	$3.2M+53.4%	$2.1M
Short-Term Investments	$0	$0	$0	$0-100.0%	$43.1M+439.2%	$8.0M	$0	$0	$0	$0	$0	$0-100.0%	$125K
Inventory	$15.4M+595.6%	$2.2M	$0-100.0%	$2.0M+1.1%	$2.0M+59.0%	$1.2M	N/A	N/A	N/A	$1.1M	N/A	$610K+713.3%	$75K
Accounts Receivable	$12.1M+1612.9%	$706K	$0-100.0%	$1.2M-18.4%	$1.5M-16.4%	$1.7M+56.9%	$1.1M-13.4%	$1.3M+198.4%	$429K-96.4%	$11.8M-3.4%	$12.2M+48.5%	$8.2M-14.2%	$9.6M
Long-Term Investments	$0	$0	$0-100.0%	$666K-73.4%	$2.5M0.0%	$2.5M	$0	$0	$0	$0	$0	$0	$0
Goodwill	$11.5M-4.4%	$12.1M	$0	$0-100.0%	$7.7M+16.5%	$6.6M+218.3%	$2.1M	$0-100.0%	$636K-48.0%	$1.2M-90.7%	$13.2M0.0%	$13.2M+130.7%	$5.7M
Total Liabilities	$50.8M+186.7%	$17.7M-44.9%	$32.1M-55.7%	$72.6M-3.0%	$74.9M+422.4%	$14.3M-5.5%	$15.2M+105.7%	$7.4M-84.2%	$46.5M-27.0%	$63.8M+39.3%	$45.8M+39.3%	$32.8M+0.8%	$32.6M
Current Liabilities	$47.6M+173.3%	$17.4M+31.4%	$13.3M-46.4%	$24.7M-8.9%	$27.1M+123.9%	$12.1M-11.8%	$13.7M+88.7%	$7.3M-82.7%	$42.0M-17.9%	$51.2M+55.8%	$32.9M+32.1%	$24.9M-9.4%	$27.4M
Non-Current Liabilities	$3.2M+980.7%	$296K-98.4%	$18.9M-60.6%	$47.9M+0.3%	$47.7M+2056.2%	$2.2M+54.7%	$1.4M+1438.7%	$93K-97.9%	$4.5M-64.2%	$12.6M-2.4%	$12.9M+62.1%	$8.0M+55.1%	$5.1M
Long-Term Debt	$7.9M+12101.5%	$65K-99.6%	$18.5M	N/A	N/A	N/A	N/A	$74K-90.4%	$767K-81.0%	$4.0M+230.1%	$1.2M+1126.0%	$100K-65.8%	$292K
Total Equity	$17.7M+169.8%	$6.6M+120.8%	-$31.6M-111.1%	-$15.0M-118.3%	$81.8M+83.3%	$44.6M+641.3%	$6.0M+25.9%	$4.8M+128.4%	-$16.8M-457.8%	$4.7M-80.8%	$24.6M-20.3%	$30.8M+296.3%	$7.8M
Retained Earnings	-$162.3M-73.5%	-$93.6M-61.4%	-$58.0M+81.5%	-$313.7M-25.3%	-$250.3M-38.3%	-$181.0M-19.3%	-$151.8M-28.9%	-$117.8M-24.6%	-$94.5M-58.9%	-$59.5M-83.8%	-$32.4M-56.8%	-$20.6M-57.5%	-$13.1M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$78.3M+188.8%	$81.2M+234.5%	$47.9M+63.7%	$35.4M+4.1%	$27.1M-11.9%	$24.3M+4672.3%	$29.3M+5.9%	$34.0M+11.8%
Current Assets	$50.3M+301.8%	$51.8M+503.9%	$36.7M+262.0%	$24.2M+59.6%	$12.5M+8.5%	$8.6M+3614.7%	$10.1M-55.1%	$15.2M-35.9%
Cash & Equivalents	$15.2M+89.6%	$16.7M+320.3%	$32.2M+6201.0%	$20.0M+246.9%	$8.0M+344.6%	$4.0M+79340.0%	$511K-96.2%	$5.8M-63.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$19.4M+737.5%	$15.4M+595.6%	$1.4M-44.3%	$2.5M-4.3%	$2.3M-14.8%	$2.2M	$2.6M-23.3%	$2.6M-19.4%
Accounts Receivable	$9.1M+1479.6%	$12.1M+1612.9%	$2.1M+243.4%	$338K-26.8%	$573K-28.1%	$706K	$610K-60.9%	$462K-74.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$0-100.0%
Goodwill	$11.5M-7.0%	$11.5M-4.4%	$9.2M-28.1%	$9.1M-25.8%	$12.4M+0.1%	$12.1M	$12.7M	$12.3M
Total Liabilities	$92.0M+619.3%	$50.8M+186.7%	$35.7M+59.4%	$22.1M-5.9%	$12.8M-25.3%	$17.7M-44.9%	$22.4M-46.6%	$23.5M-44.5%
Current Liabilities	$91.0M+626.7%	$47.6M+173.3%	$35.6M+61.4%	$21.8M-5.2%	$12.5M-24.8%	$17.4M+31.4%	$22.0M+12.6%	$23.0M-2.6%
Non-Current Liabilities	$1.0M+276.4%	$3.2M+980.7%	$155K-59.3%	$246K-42.0%	$271K-42.2%	$296K-98.4%	$381K-98.3%	$424K-97.7%
Long-Term Debt	$10.6M+16160.0%	$7.9M+12101.5%	N/A	$65K0.0%	$65K0.0%	$65K-99.6%	$65K	$65K
Total Equity	-$26.6M-291.0%	$17.7M+169.8%	$10.5M+52.3%	$12.4M+17.3%	$13.9M+1.9%	$6.6M+120.8%	$6.9M+147.9%	$10.6M+189.3%
Retained Earnings	-$197.6M-85.6%	-$162.3M-73.5%	-$140.7M-76.6%	-$127.3M-69.1%	-$106.4M-75.7%	-$93.6M-61.4%	-$79.7M+77.1%	-$75.3M+77.7%

XTIA Cash Flow Statement

XTIA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Operating Cash Flow	-$31.8M	-$36.6M-64.1%	-$22.3M-433.5%	-$4.2M+87.7%	-$34.0M+8.5%	-$37.1M-80.2%	-$20.6M-93.2%	-$10.7M+60.2%	-$26.8M-1290.1%	$2.2M+180.7%	-$2.8M+66.0%	-$8.2M-80.8%	-$4.5M-66.3%	-$2.7M
Depreciation & Amortization	N/A	$148K+31.0%	$113K+927.3%	$11K-97.3%	$400K0.0%	$400K+300.0%	$100K-91.1%	$1.1M-28.5%	$1.6M-16.6%	$1.9M+41.2%	$1.3M+104.1%	$653K+122.9%	$293K+140.2%	$122K
Stock-Based Compensation	N/A	$12.0M+192.3%	$4.1M+150.5%	$1.6M-55.0%	$3.7M-66.4%	$10.9M+811.1%	$1.2M-65.8%	$3.5M+133.5%	$1.5M-2.5%	$1.5M+11.3%	$1.4M-3.3%	$1.4M-17.4%	$1.7M+43.3%	$1.2M
Capital Expenditures	$301K	$215K+216.2%	$68K+2166.7%	$3K-98.8%	$245K-29.2%	$346K-64.4%	$972K+992.1%	$89K+1.1%	$88K-12.9%	$101K-80.8%	$526K+48.2%	$355K-66.3%	$1.1M+1232.9%	$79K
Free Cash Flow	-$32.1M	-$36.8M-64.6%	-$22.4M-434.8%	-$4.2M+87.8%	-$34.2M+8.7%	-$37.5M-73.7%	-$21.6M-100.6%	-$10.8M+60.0%	-$26.9M-1350.1%	$2.1M+164.8%	-$3.3M+61.3%	-$8.6M-53.1%	-$5.6M-99.1%	-$2.8M
Investing Cash Flow	-$19.5M	-$18.8M-757.6%	$2.9M+16882.4%	-$17K-100.0%	$36.4M+168.0%	-$53.5M-127.6%	-$23.5M-360.2%	-$5.1M-257.5%	-$1.4M-8.4%	-$1.3M+50.6%	-$2.7M-72.0%	-$1.6M+85.1%	-$10.4M-1019.2%	$1.1M
Financing Cash Flow	$58.5M	$68.2M+189.5%	$23.6M+476.4%	$4.1M+111.8%	-$34.6M-127.7%	$125.0M+118.4%	$57.3M+195.1%	$19.4M-33.1%	$29.0M+1190.1%	-$2.7M-183.3%	$3.2M-69.7%	$10.5M-34.5%	$16.1M+335.3%	$3.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$10.5M+31.4%	-$6.3M+21.8%	-$8.4M-36.9%	-$6.7M-19.5%	-$15.2M-497.5%	-$8.0M-569.6%	-$6.1M-332.8%	-$5.6M-405.3%
Depreciation & Amortization	$56K+75.0%	$45K+40.6%	$35K+2.9%	$36K+5.9%	$32K+146.2%	$32K	$34K	$34K
Stock-Based Compensation	$4.8M+965.3%	N/A	$6.3M+436.2%	$722K+1323.7%	$455K-92.1%	N/A	-$1.9M-1044.5%	-$59K-129.5%
Capital Expenditures	$131K+191.1%	$89K+535.7%	$23K-36.1%	$58K+427.3%	$45K+542.9%	$14K	$36K+1100.0%	$11K
Free Cash Flow	-$10.6M+30.8%	-$6.3M+20.9%	-$8.4M-36.5%	-$6.8M-20.3%	-$15.3M-497.6%	-$8.0M-570.8%	-$6.2M-334.4%	-$5.7M-406.3%
Investing Cash Flow	-$825K-1733.3%	-$18.6M-84609.1%	-$23K+36.1%	-$58K-23.4%	-$45K-101.5%	-$22K-57.1%	-$36K-1100.0%	-$47K
Financing Cash Flow	$9.5M-50.4%	$9.6M-17.1%	$20.9M+2302.8%	$18.5M+91.5%	$19.2M+1279.4%	$11.6M+1089.8%	$869K-46.2%	$9.7M+1139.6%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

XTIA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

XTIA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Gross Margin	21.9%-37.1pp	59.0%-9.1pp	68.0%+47.5pp	20.5%-52.1pp	72.7%+0.8pp	71.9%-2.6pp	74.5%+3.1pp	71.4%+2.7pp	68.7%+40.6pp	28.1%-0.8pp	28.9%-0.9pp	29.8%+5.5pp	24.2%
Operating Margin	-190.4%	-926.5%	-166.3%	-99.1%	-454.8%	-255.9%	-330.3%	-489.9%	-382.0%	-44.6%-27.6pp	-17.0%-4.8pp	-12.2%-4.5pp	-7.7%
Net Margin	-305.7%	-1111.9%	N/A	-326.5%	-432.4%	-314.4%	-539.4%	-654.2%	-889.8%	-51.0%-33.5pp	-17.5%-5.5pp	-12.0%-3.5pp	-8.4%
Return on Equity	-387.6%+153.9pp	-541.6%	N/A	N/A	-84.5%-19.1pp	-65.5%+499.0pp	-564.4%-50.8pp	-513.6%	N/A	-575.9%-528.2pp	-47.7%-23.3pp	-24.4%+30.4pp	-54.8%
Return on Assets	-84.6%+61.9pp	-146.6%	N/A	-110.0%-65.9pp	-44.1%+5.4pp	-49.5%+110.7pp	-160.2%+41.6pp	-201.8%-75.3pp	-126.4%-85.7pp	-40.8%-23.7pp	-17.1%-4.9pp	-12.1%-1.2pp	-11.0%
Current Ratio	1.09+0.6x	0.49+0.5x	0.02-1.2x	1.21-2.7x	3.91+1.4x	2.50+2.0x	0.490.0x	0.46+0.2x	0.22-0.4x	0.59-0.3x	0.870.0x	0.89+0.2x	0.72
Debt-to-Equity	0.45+0.4x	0.01	N/A	N/A	0.92+0.6x	0.32-2.2x	2.52+2.5x	0.02	N/A	0.86+0.8x	0.050.0x	0.000.0x	0.04
Asset Turnover	0.28+0.1x	0.13-8.8x	8.96+8.6x	0.34+0.2x	0.10-0.1x	0.16-0.1x	0.300.0x	0.31+0.2x	0.14-0.7x	0.80-0.2x	0.970.0x	1.01-0.3x	1.30
FCF Margin	-163.7%	-698.8%	-91.7%	-176.2%	-234.3%	-232.0%	-170.7%	-714.9%	54.6%+60.8pp	-6.2%+6.6pp	-12.8%-3.9pp	-8.9%-3.3pp	-5.5%

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	18.6%-50.6pp	16.0%-38.7pp	43.4%-13.3pp	80.5%+16.3pp	69.2%+5.1pp	54.7%	56.6%	64.2%
Operating Margin	-37.5%	-45.9%	-596.2%	-1855.0%	-1694.8%	-256.2%	-459.3%	-1350.8%
Net Margin	-127.4%	-114.1%	-541.3%	-3476.3%	-2659.5%	-1341.3%	-483.1%	-1426.8%
Return on Equity	N/A	-121.7%+89.1pp	-128.6%-64.0pp	-168.1%-29.0pp	-92.4%-73.4pp	-210.8%	-64.6%	-139.1%
Return on Assets	-45.0%+2.4pp	-26.6%+30.5pp	-28.1%-12.9pp	-58.8%-15.6pp	-47.4%-39.0pp	-57.0%	-15.2%-5.4pp	-43.2%-28.0pp
Current Ratio	0.55-0.4x	1.09+0.6x	1.03+0.6x	1.11+0.5x	1.00+0.3x	0.49+0.5x	0.46-0.7x	0.66-0.3x
Debt-to-Equity	N/A	0.45+0.4x	3.42+3.4x	0.010.0x	0.000.0x	0.01	0.01	0.01
Asset Turnover	0.35+0.3x	0.23+0.2x	0.050.0x	0.020.0x	0.020.0x	0.04	0.030.0x	0.030.0x
FCF Margin	-38.2%	-33.5%	-338.0%	-1133.2%	-3158.5%	-776.0%	-670.0%	-548.0%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
XTI Aerospace, Inc. XTIA	FY2025	$22.5M	-$68.8M	N/A	$34.9M	32/100
SIFCO Industries, Inc. SIF	FY2025	$84.8M	-$729K	-0.9%	$140.8M	51/100
Sidus Space, Inc. SIDU	FY2025	$3.4M	-$29.5M	N/A	$159.9M	30/100
CPI Aerostructures, Inc. CVU	FY2025	$69.3M	-$843K	-1.2%	$67.6M	48/100
ParaZero Technologies Ltd. PRZO	FY2025	$1.0M	-$5.4M	N/A	$19.5M	46/100
Nauticus Robotics, Inc. KITT	FY2025	$5.3M	-$40.8M	N/A	$1.9M	33/100

Where XTI Aerospace, Inc. Ranks

Frequently Asked Questions

What is XTI Aerospace, Inc.'s annual revenue?

XTI Aerospace, Inc. (XTIA) reported $22.5M in total revenue for fiscal year 2025. This represents a 602.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is XTI Aerospace, Inc.'s revenue growing?

XTI Aerospace, Inc. (XTIA) revenue grew by 602.4% year-over-year, from $3.2M to $22.5M in fiscal year 2025.

Is XTI Aerospace, Inc. profitable?

No, XTI Aerospace, Inc. (XTIA) reported a net income of -$68.8M in fiscal year 2025.

What is XTI Aerospace, Inc.'s EBITDA?

XTI Aerospace, Inc. (XTIA) had EBITDA of -$42.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does XTI Aerospace, Inc. have?

As of fiscal year 2025, XTI Aerospace, Inc. (XTIA) had $16.7M in cash and equivalents against $7.9M in long-term debt.

What is XTI Aerospace, Inc.'s gross margin?

XTI Aerospace, Inc. (XTIA) had a gross margin of 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is XTI Aerospace, Inc.'s return on equity (ROE)?

XTI Aerospace, Inc. (XTIA) has a return on equity of -387.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is XTI Aerospace, Inc.'s free cash flow?

XTI Aerospace, Inc. (XTIA) recorded an outflow of $36.8M in free cash flow during fiscal year 2025. This represents a -64.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is XTI Aerospace, Inc.'s operating cash flow?

XTI Aerospace, Inc. (XTIA) recorded an outflow of $36.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are XTI Aerospace, Inc.'s total assets?

XTI Aerospace, Inc. (XTIA) had $81.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are XTI Aerospace, Inc.'s capital expenditures?

XTI Aerospace, Inc. (XTIA) invested $215K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does XTI Aerospace, Inc. spend on research and development?

XTI Aerospace, Inc. (XTIA) invested $5.2M in research and development during fiscal year 2025.

How many shares does XTI Aerospace, Inc. have outstanding?

XTI Aerospace, Inc. (XTIA) had 38M shares outstanding as of fiscal year 2025.

What is XTI Aerospace, Inc.'s current ratio?

XTI Aerospace, Inc. (XTIA) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.

What is XTI Aerospace, Inc.'s debt-to-equity ratio?

XTI Aerospace, Inc. (XTIA) had a debt-to-equity ratio of 0.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is XTI Aerospace, Inc.'s return on assets (ROA)?

XTI Aerospace, Inc. (XTIA) had a return on assets of -84.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is XTI Aerospace, Inc.'s P/E ratio?

XTI Aerospace, Inc. (XTIA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $34.9M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is XTI Aerospace, Inc.'s price-to-sales ratio?

XTI Aerospace, Inc. (XTIA) trades at 0.7x sales, its market capitalization divided by revenue of $49.7M revenue, trailing 12 months to March 31, 2026. The market capitalization is $34.9M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does XTI Aerospace, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, XTI Aerospace, Inc. (XTIA) held $16.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $36.6M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is XTI Aerospace, Inc.'s Altman Z-Score?

XTI Aerospace, Inc. (XTIA) has an Altman Z-Score of -3.79, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is XTI Aerospace, Inc.'s Piotroski F-Score?

XTI Aerospace, Inc. (XTIA) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are XTI Aerospace, Inc.'s earnings high quality?

XTI Aerospace, Inc. (XTIA) reported a net loss of $68.8M while operations used $36.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can XTI Aerospace, Inc. cover its interest payments?

XTI Aerospace, Inc. (XTIA) reported an operating loss of $42.8M against $300K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is XTI Aerospace, Inc.?

XTI Aerospace, Inc. (XTIA) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.