XTI Aerospace, Inc.

XTI Aerospace is a provider of unmanned aerial systems ("UAS") solutions, operating through two business divisions: a commercial drone solutions business and an advanced systems and defense division. The company also expects to continue developing a third business division, a domestic manufacturing and technology division. The commercial drone solutions business, primarily conducted through its majority-owned subsidiary, XTI Drones Holdings, LLC, which owns Drone Nerds, LLC and Anzu Robotics, LLC (collectively, "Drone Nerds"), generates substantially all of the company's revenues. The advanced systems and defense division is in an earlier stage of development and has not yet generated any revenues. The company was originally founded around the development of the TriFan 600, a planned vertical takeoff and landing ("VTOL") aircraft. In 2025, the company acquired Drone Nerds and, in 2026, redirected its former XTI Aircraft division toward the design and development of unmanned platforms for defense and commercial applications. The TriFan 600 program has been paused, and its intellectual property and engineering work product are being preserved. The company's near-term focus is on growing its commercial drone platform, expanding products and services for enterprise and government customers, and pursuing strategic acquisitions. The company also seeks to generate revenue from its advanced systems and domestic manufacturing divisions.