XTI Aerospace management cites enterprise drone demand, expanded offerings as drivers of Q3 2026 revenue growth
XTIA•XTI Aerospace reported third-quarter 2026 revenue of $35.3 million, up 46% pro forma. Net income was $26.6 million, primarily reflecting a $32 million gain from changes in warrant fair value.
1. Revenue and margins
Management attributed revenue growth to enterprise drone demand and expanded offerings. Gross margin was 21.7%, including a $2 million nonrecurring benefit primarily from tariff refunds; excluding that benefit, gross margin was 16%, compared with 17.4% in the second quarter, primarily reflecting channel mix.
2. Operating cash outflows
Corporate and development monthly operating cash outflows fell 42% sequentially to $1.1 million following headcount reductions, office consolidation and cuts to noncore spending.
