XTI Aerospace Financials
XTI Aerospace (XTIA) reported $22.5M in revenue for fiscal year 2025, up 602.4% from the prior fiscal year. 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).
Cost-heavy revenue growth, not internally generated cash, is the dominant mechanic shaping XTI Aerospace’s FY2025 financial profile.
The FY2025 revenue rebound did not translate into better unit economics: gross margin fell from59.0% to21.9% , pointing to a much more cost-heavy revenue mix. Operating margin nevertheless improved from-926.5% to-190.4% , suggesting scale absorbed some fixed costs even as gross economics weakened.
Accounting losses and cash usage diverged materially: FY2025 net loss was
Working capital absorbed funds as inventory and receivables reached
Financial Health Signals
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'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.
XTI Aerospace scores -3.52, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($57.1M) 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.
XTI Aerospace 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.
XTI Aerospace 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.
XTI Aerospace 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
Earnings & Revenue
XTI Aerospace generated $22.5M in revenue in fiscal year 2025. This represents an increase of 602.4% from the prior year.
XTI Aerospace's EBITDA was -$42.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 44.4% from the prior year.
XTI Aerospace reported -$68.8M in net income in fiscal year 2025. This represents a decrease of 93.1% from the prior year.
Cash & Balance Sheet
XTI Aerospace recorded an outflow of $36.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 64.6% from the prior year.
XTI Aerospace held $16.7M in cash against $7.9M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
XTI Aerospace's gross margin was 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 37.1 percentage points from the prior year.
XTI Aerospace's ROE was -387.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 153.9 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
XTI Aerospace invested $5.2M in research and development in fiscal year 2025. This represents an increase of 166.0% from the prior year.
XTI Aerospace invested $215K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 216.2% from the prior year.
Not reported for fiscal year 2025.
XTIA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 (Diluted) | — | -$4.24 | -$162.78 | -$1576.48+53.8% | -$3412.09 | -$51.18 | -$1.01 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
XTIA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| 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 |
| 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 |
XTIA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
Not reported in any period shown, so not listed: Share Buybacks.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
XTIA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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% |
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
Where XTI Aerospace Ranks
Frequently Asked Questions
What is XTI Aerospace's annual revenue?
XTI Aerospace (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's revenue growing?
XTI Aerospace (XTIA) revenue grew by 602.4% year-over-year, from $3.2M to $22.5M in fiscal year 2025.
Is XTI Aerospace profitable?
No, XTI Aerospace (XTIA) reported a net income of -$68.8M in fiscal year 2025.
What is XTI Aerospace's EBITDA?
XTI Aerospace (XTIA) had EBITDA of -$42.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does XTI Aerospace have?
As of fiscal year 2025, XTI Aerospace (XTIA) had $16.7M in cash and equivalents against $7.9M in long-term debt.
What is XTI Aerospace's gross margin?
XTI Aerospace (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's return on equity (ROE)?
XTI Aerospace (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's free cash flow?
XTI Aerospace (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's operating cash flow?
XTI Aerospace (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's total assets?
XTI Aerospace (XTIA) had $81.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are XTI Aerospace's capital expenditures?
XTI Aerospace (XTIA) invested $215K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does XTI Aerospace spend on research and development?
XTI Aerospace (XTIA) invested $5.2M in research and development during fiscal year 2025.
What is XTI Aerospace's current ratio?
XTI Aerospace (XTIA) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.
What is XTI Aerospace's debt-to-equity ratio?
XTI Aerospace (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's return on assets (ROA)?
XTI Aerospace (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's cash runway?
Based on fiscal year 2025 data, XTI Aerospace (XTIA) had $16.7M in cash against an annual operating cash burn of $36.6M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is XTI Aerospace's Altman Z-Score?
XTI Aerospace (XTIA) has an Altman Z-Score of -3.52, 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's Piotroski F-Score?
XTI Aerospace (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's earnings high quality?
XTI Aerospace (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 cover its interest payments?
XTI Aerospace (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?
XTI Aerospace (XTIA) scores 48 out of 100 on our Financial Health Score, indicating moderate 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.