Strong TriFan 600 development progress, expanded strategic partnerships and strengthened balance sheet
ENGLEWOOD, Colo., Aug. 14, 2025 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA) (“XTI Aerospace” or the “Company”), a pioneer in xVTOL and powered-lift aircraft solutions, today announced the filing of its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, and provided an update on recent corporate milestones and strategic initiatives.
“During the second quarter, we made measurable strides toward our goal to bring the TriFan 600 to market as a game-changing aircraft for both commercial and defense applications,” said Scott Pomeroy, Chairman and CEO of XTI Aerospace. “Our engineering teams achieved foundational milestones, from finalizing the Global Finite Element Model for the latest configuration to selecting drivetrain supplier-partners, all while progressing critical FAA certification efforts. We also leveraged some of the most powerful computing resources in the world, including the U.S. Department of Energy’s Frontier supercomputer, to accelerate aerodynamic analysis and optimize our design ahead of wind tunnel testing. These achievements showcase the disciplined, milestone-driven approach that is central to our culture and critical to delivering on our commitments to customers, regulators, and shareholders.”
“Just as important, we have taken steps to position XTI for long-term success beyond the engineering lab,” continued Pomeroy. “We expanded our corporate advisory board with leaders in aerospace, defense, and AI to strengthen our ability to navigate certification, market entry, and future technology integration. We opened a dedicated prototyping and innovation lab to fast-track subscale model testing and flight control development, and entered into a memorandum of understanding with VerdeGo Aero to explore hybrid-electric propulsion solutions for future variants. We also raised $18.4 million through our June public offering and subsequent over-allotment exercises. We believe the combination of technical progress, a strengthened balance sheet, and a growing network of industry partners sets the stage for reopening TriFan 600 pre-sales and moving toward first flight and type certification.”
Second Quarter 2025 Business Highlights
TriFan 600 Development Milestones
- Global Finite Element Model (GFEM) finalized for configuration C211.2, a foundational step in validating structural performance for FAA type certification.
- Selected drivetrain suppliers Triumph Geared Solutions, Formsprag Clutch and Kamatics Corporation to deliver primary/secondary gearboxes, clutch systems, and precision drive shafts.
- FAA Certification Branch Office assigned: Ft. Worth CBO will lead TriFan 600 type certification activities, providing specialized VTOL expertise.
- Advanced aerodynamic optimization through 1,500+ computational fluid dynamics simulations on the U.S. Department of Energy’s Frontier supercomputer, supporting design refinements ahead of wind tunnel testing.
- Technical Familiarization sessions held with FAA on aircraft structures, with ongoing monthly engagement to streamline certification pathways.
Strategic and Market Expansion Initiatives
- MOU with VerdeGo Aero to explore hybrid-electric propulsion for future aircraft variants, targeting high-performance, sustainable solutions for military and civilian markets, which remains subject to the parties’ execution of a definitive agreement.
- Corporate Advisory Board expansion with notable leaders from the U.S. Space Force/Air Force, Palantir Technologies, Paramount Group, and with other aerospace, AI, and defense sector professionals, adding deep expertise in certification, government relations, and intelligent systems.
- Opening of XTI’s prototyping and innovation lab at The HIVE in Grand Forks, ND, to accelerate testing of subscale models “Sparrow” and “Kestrel” and advance flight control systems.
Capital and Balance Sheet Enhancements
- Gross proceeds from financing: $16 million from a completed public offering in June, followed by an additional $2.4 million in over-allotment exercises in July. These funds bolster liquidity to support engineering and certification activities.
- Ended Q2 2025 with $20.0 million in cash and cash equivalents, up from $4.1 million at year-end 2024.
- Continued disciplined expense management while prioritizing R&D investment for the TriFan 600 program.
Second Quarter 2025 Financial Highlights
- Cash and cash equivalents increased to $20.0 million as of June 30, 2025, compared to $4.1 million at December 31, 2024, primarily due to the net proceeds received from the June underwritten offering.
- Maintained a debt-free, short-term position at June 30, 2025, following the successful repayment of all short-term borrowings in Q1, providing a clean capital structure to support growth initiatives.
- Stockholders’ equity grew to $12.4 million as of June 30, 2025, up from $6.6 million at December 31, 2024, reflecting new capital raised and a stronger balance sheet foundation.
Read the full press release on our Investor Relations site.