XTI Aerospace completes internal review, withdraws 2026 guidance

XTI Aerospace, Inc. (Nasdaq: XTIA) said its internal review, initiated in July 2026, has been completed with no financial misstatements found, and the company expects to file its Form 10-Q by October 26, 2026.

The review was overseen by a special committee of independent directors, with assistance from independent outside counsel. The company said it plans to implement enhancements to its governance framework, policies, and procedures under the oversight of its Board of Directors.

Interim CEO Jeremy Schneiderman said in a statement: "With the internal review complete, I am happy to report that there were no financial misstatements discovered and we are on track to report our second quarter results later this month."

For the second quarter, XTI Aerospace reported preliminary, unaudited revenue of approximately $32.4 million, gross profit of approximately $5.6 million, and a loss from operations of approximately $9.1 million. The company noted these figures remain subject to completion of financial closing procedures and review by its independent registered public accounting firm.

The company also said it is withdrawing its previously issued 2026 financial guidance and expects to provide an update at a later date.

XTI Aerospace, headquartered in Dallas, Texas, operates through its subsidiary Drone Nerds, LLC, which provides drone solutions to commercial, enterprise, and government customers. The company previously disclosed in a Form 12b-25 filed with the SEC on August 17, 2026, that its Form 10-Q is expected to include disclosure of substantial doubt about its ability to continue as a going concern.

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