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XTI Aerospace, Inc. Ushers in New Era with Nasdaq Debut and Advancements in TriFan 600 Development

ENGLEWOOD, Colo., May 20, 2024 /PRNewswire/— Today marks a significant milestone for XTI Aerospace, Inc. (NASDAQ: XTIA) ("XTI" or "the Company"), a frontrunner in the aviation industry, as they released their quarterly report on Form 10-Q for the period concluding March 31, 2024. This report was conscientiously filed with the U.S. Securities and Exchange Commission delineating not just the company's financials but also elaborating on the business advancements and the highly anticipated progress they've achieved with the revolutionary TriFan 600 aircraft.

Scott Pomeroy, chief executive officer of XTI Aerospace, accentuated the transformative nature of the past quarter saying, "The first quarter of 2024 was truly an inflection point for the Company as we completed the merger and began trading on the Nasdaq, illustrating the start of our greater journey." With strategic eyes set on the future, Pomeroy detailed the forward momentum of the TriFan 600, a groundbreaking fixed-wing, vertical lift crossover airplane, as the company steers toward pinnacle milestones such as solidifying the certification plan with the Federal Aviation Administration, cherry-picking structures and system suppliers, fulfilling the Critical Design Review (CDR), and securing the Type Certification (TC) of the TriFan 600.

XTI Aerospace is channeling their expertise to position the TriFan 600 as a game-changer in the aviation sector, endowed with patented intellectual property and pioneering design. Pomeroy underscored the sturdy market demand signified by the substantial pre-orders already on the company's books, poised to translate into billions in gross revenue upon execution of delivery. The TriFan 600 aims to fill a void in the market by integrating the efficiency of fixed-wing business aircraft with the versatility of vertical takeoff and landing (VTOL)—a feat which the company intends to achieve and thereby solidify its stance as a trailblazer in the industry.

With intrigue and anticipation mounting, Pomeroy further anticipated, "Our team is excited to bring this aircraft to our customers in support of their business and mission objectives. We are also advancing key strategic partnerships including ones we believe could accelerate our timelines and further reduce costs, which we look forward to announcing in the near future."

The meticulous quarterly report on Form 10-Q for the period ended March 31, 2024, which was filed with the U.S. Securities and Exchange Commission on May 20, 2024, can also be accessed by the shareholders and enthusiasts on the Company's website, offering a transparent view into XTI's financial health and strategic direction.

Unveiling XTI Aerospace, Inc.

XTI Aerospace, headquartered in the vicinity of Denver, Colorado, operates under the umbrella of XTI Aircraft Company and has emerged as an aviation pioneer with the development of the TriFan 600, a novel fixed-wing business aircraft capable of mimicking the VTOL capacity of a helicopter. Achieving new zeniths in velocity of 345 mph and encompassing a range of 700 miles, this innovation crafts an entirely unique category—the Vertical Lift Crossover Airplane (VLCA). The company's foray into this new territory signals a transformative chapter not only for itself but also for the aviation landscape at large.

XTIAerospace.com and XTIAircraft.com are the digital epicenters where details about the parent company and the aviation business respectively can be explored. Moreover, XTI Aerospace houses the Inpixon business unit, a titan in Real-Time Location System (RTLS) technology. Inpixon's inpixon.com serves clients globally, applying location intelligence solutions prevalently in factories and other industrial settings to augment operations, amplify productivity, and reinforce safety.

Forward-Looking Statements: A Glance into the Future

Within this press announcement lies a 'cautionary statement' pertaining to "forward-looking statements" acknowledged by the United States Private Securities Litigation Reform Act of 1995, respectively Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements transcend the remit of historical fact, engrossing conjectures about products under XTI's development, the technological edge of XTI's and RTLS's initiatives, as well as the future directives, partnerships, and anticipated success of the amalgamated enterprise.

Such statements invariably project future expectations, manifesting through terminology such as "believe," "estimate," "will," "expect," "plan," "target," "projects," along with their negatives or comparative expressions. However, these projections are tethered to risks, uncertainties, and myriad variables capable of propelling actual outcomes to deviate from those initially posited. Management at XTI Aerospace underscores this inherent unpredictability, stressing that while forecasts and assumptions are made with the utmost integrity, they are not immune to the dynamic shifts and changes of the industry and regulatory environment.

XTI assures ongoing review and adaptation of forward-looking statements to encapsulate and address any major post-report developments or circumstances. Stakeholders and potential investors are encouraged to engage in comprehensive review and contemplation of the risk factors intermittently discussed in XTI's SEC filings. This includes profound consideration of those risk factors detailed under the caption "Risk Factors" in XTI's latest annual report on Form 10-K, furnished with the SEC on April 16, 2024, and its subsequent reports, ensuring a robust understanding of the potential risks and rewards associated with their investment.

Get in Touch

XTI Aerospace, Inc. extends an open invitation for general inquiries and maintains an accessible channel of communication for investors and the public alike. Queries may be directed to the following:

General inquiries:
Email: [email protected]
Web: https://xtiaerospace.com/contact/

Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: [email protected]

These contact points serve as a testament to XTI Aerospace's commitment to transparency, stakeholder engagement, and dedication to an inclusive shareholder relationship. Both prospective and current investors, along with interested parties, are encouraged to utilize these avenues for comprehensive information and updates.

Conclusion

As XTI Aerospace, Inc. continues to take bold strides in the futuristic domain of aerospace technologies with its ground-breaking TriFan 600, the company's assurance of embracing transparent and comprehensive communication bodes well for investor confidence. The surrounding excitement is not just about the product but also speaks to the potential realignment of the industry's future trajectory.

A tangible sign of this progress is evident in the transparent release of their Form 10-Q, which offers a glimpse into the fiscal health and inner workings of the aviation innovator. Moving forward, XTI remains steadfast in its mission to revolutionize air travel and continues to ensure that its partners, customers, and stakeholders are kept abreast of each seminal development.

Indeed, we stand on the threshold of a new aviation era, with XTI Aerospace propelling the charge towards a horizon where the skies are not the limit, but rather the canvas for innovation and audacity.

XTI Aerospace, Inc. is on the precipice of delivering an aviation marvel that stands to redefine the ethos of air travel. We await with bated breath as they soar towards unprecedented heights.