Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 250

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 250
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ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following
discussion of our financial condition and results of operations in conjunction with the condensed consolidated financial statements and
the related notes included elsewhere in this Form 10-Q and with the audited consolidated financial statements included in our Annual Report
on Form 10-K for the year ended December 31, 2024, as filed with the SEC. In addition to our historical condensed consolidated financial
information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results
could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences
include those discussed below and elsewhere in this Form 10-Q, particularly in Part II, Item 1A, “Risk Factors.”

Overview of Our Business

We are primarily an
aircraft development company. We also provide real-time location systems (“RTLS”) for the industrial sector.

Headquartered in Englewood,
Colorado, the Company is developing a vertical takeoff and landing (“VTOL”) airplane that is designed to take off and land
like a helicopter and cruise like a fixed-wing business airplane. We believe our initial configuration, the TriFan 600 airplane, will
be one of the first civilian fixed-wing VTOL airplanes that offers the speed and comfort of a business airplane and the range and versatility
of VTOL for a wide range of customer applications, including private aviation for business and high net worth individuals, emergency medical
services and regional charter air travel, defining a new category of VTOL that we term the “xVTOL.” The TriFan 600 is a seven-occupant
airplane intended to provide point-to-point air travel over distances of over 1,000 miles, fly at twice the speed and three times the
range of competing helicopters and cruise at altitudes of up to 25,000 feet. Since 2013, we have been engaged primarily in developing
the aerodynamic performance and top-level engineering design of the TriFan 600, building and testing a two-thirds scale unmanned version
of the TriFan 600, generating pre-orders for the TriFan 600, and seeking funds from investors to enable the Company to advance the detailed
design and certification of the TriFan 600, and to eventually engage in commercial production and sale of the TriFan 600.

We continue to work to optimize
our airplane design for both