XTI Aerospace Completes Internal Review Set to File Form 10-Q
News related to:XTI Aerospace, Inc · 1 min read
DALLAS, Oct. 13, 2026 /CourierPR/ -- XTI Aerospace, Inc., an aerospace and advanced technology platform, has completed an internal review initiated in July 2026. The review, overseen by a special committee of independent directors and assisted by independent outside counsel, did not uncover any financial misstatements. The company is now on track to file its Form 10-Q by October 26, 2026.
Jeremy Schneiderman, the Interim CEO, expressed satisfaction with the outcome of the review.
The preliminary second quarter results indicate a revenue of approximately $32.4 million, gross profit of approximately $5.6 million, and a loss from operations of approximately $9.1 million. These figures, while unaudited, reflect management's current estimates based on information available as of the date of the press release. The Company's actual results for the second quarter may differ from these preliminary estimates upon the completion of its financial closing procedures and the review of its independent registered public accounting firm.
XTI Aerospace, Inc., headquartered in Dallas, Texas, is focused on building a leading platform for commercial and government drone adoption in the growing unmanned aircraft systems industry. Through its subsidiary, Drone Nerds, LLC, the company supports enterprise and government customers in sectors including public safety, agriculture, construction, and energy across the drone program lifecycle, from hardware sourcing and deployment to training, service, repair, and the Always Flying program.
The Company is withdrawing its previously issued 2026 financial guidance at this time and expects to provide a comprehensive update at a later date. In its Notification of Late Filing on Form 12b-25 filed with the SEC on August 17, 2026, XTI Aerospace disclosed that the Form 10-Q will disclose substantial doubt about the company's ability to continue as a going concern. The Company intends to implement, under the oversight of the Board of Directors, certain enhancements to its governance framework, policies, and procedures. The Board will continue to evaluate the Company's governance practices and may adopt additional measures as it deems appropriate.