XTI Aerospace (XTIA) Q1 2026 earnings summary

Executive summary

• Q1 2026 marks the first full quarter including Drone Nerds' results, with revenue of $27.7 million, gross profit of $5.1 million, and gross margin of 18.6%.

• Adjusted EBITDA loss improved to approximately $(4.9) million from $(10) million in Q4 2025.

• Strategic focus on NDAA-compliant, domestically aligned drone solutions, and operational execution, with cost reduction and margin improvement.

• Divestiture of Inpixon/RTLS business completed in February 2026 to focus on UAS and ADS segments.

• TriFan 600 aircraft program remains paused, with risks around its resumption and commercialization.

Financial highlights

• Q1 2026 revenue was $27.7 million, down from $30.6 million pro forma in Q1 2025.

• Gross profit for Q1 2026 was $5.1 million, with gross margin of 18.6%.

• Q1 2026 GAAP net loss from continuing operations was $(31.7) million, including a $21.4 million loss from warrant liability remeasurement.

• Adjusted EBITDA for Q1 2026 was $(4.9) million, improved from $(7.8) million in Q1 2025.

• Cash and cash equivalents at March 31, 2026 were $15.2 million.

Outlook and guidance

• Full year 2026 revenue guidance is at least $160 million, with 30%+ growth expected.

• Gross margin guidance for 2026 is 19%–21%; EBITDA margin guidance is 9%–10%.

• Positive and growing cash flow from operations expected starting in Q3 2026, with year-end cash projected at $15–$17 million.

• Second half 2026 consolidated adjusted EBITDA expected to be $2–$3 million or greater.

• No capital raise anticipated outside of acquisitions; liquidity supported by cash, warrant exercises, and a $20 million credit facility.