Slide 1: First Quarter 2026 Earnings Presentation
First Quarter 2026 EARNINGS PRESENTATION Check out the XTI Aerospace Website 1
Slide 2: Disclaimer
Disclaimer This presentation is made solely for information purposes and no representation or warranty, express or implied, is made by XTI Aerospace, Inc. (“XTI,” “we,” “us,” “our,” and, together with our subsidiaries, the “Company”) or any of its representatives as to the information contained in t
Slide 3: XTI First Quarter 2026 Financial Highlights
XTI First Quarter 2026 Financial Highlights 2026 GAAP Reported Results 2025 Pro Forma Results Q1 2026 GAAP Results Q1 2025 Pro Forma* $27.7m $5.1m 18.6% $30.6m $7.2m 23.6% Revenue Gross Profit Gross Profit % Revenue Gross Profit Gross Profit % Includes Inpixon results excluded & reflected in disc. I
Slide 4: XTIA Capitalization Table
Total Common Shares Outstanding 38,477,789 UMAC Pre-Funded Warrant Shares1 15,307,735 Class B Units (Restricted)2 6,524,576 Total Common Including PFW & Class B 60,310,100 XTIA Capitalization Table Warrant Shares @ $2.00 exercise price 19,608,892 As of May 14, 2026 Warrant Shares @ $16.37 weighted a
Slide 5: FY2026 Financial Targets
FY2026 Financial Targets FY26 Revenue Plan FY26 Drone Nerds EBITDA* Margin $160M+ 9% to 10% • 30%+ Revenue growth rate expected FY26 Gross Profit % of Revenue FY26 EOY Estimated ABL Availability as of 12/31/26 • Revenue per employee > $1.2M 19% to 21% $5M to $10M Positive Cashflow Achieved by 2H FY2
Slide 6: Q&A
MT laerospace Q&A
Slide 7: Reg G Reconciliations
MT laerospace Reg G Reconciliations
Slide 8: Reconciliation of Pro Forma Information
Reconciliation of Pro Forma Information Unaudited Supplemental Combined Financial Information The Company has provided unaudited supplemental financial information of the combined company in its earnings press release. Such financial information combines XTI and Drone Nerds historical operating resu
Slide 9: Reconciliation of Pro Forma Information – 1Q FY2025
Reconciliation of Pro Forma Information – 1Q FY2025 For the Three Months Ended March 31, 2025 Drone Nerds Pre- Transaction Q1 2025 Acquisition Accounting Q1 2025 Pro ($ In thousands) GAAP Activity Adjustment Forma Revenues $ — $ 30,587 $ — $ 30,587 Cost of revenues — 23,359 — 23,359 Gross profit — 7
Slide 10: Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 1QFY2025)
Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 1QFY2025) EBITDA and Adjusted EBITDA XTI Aerospace defines EBITDA as net income (loss) before interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for certain items including, (i) non-cash
Slide 11: Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 1QFY2025)
Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 1QFY2025) For the Three Months Ended March 31, 2025 & 2026 Three Months Ended Three Months Ended ($ In thousands) March 31, 2026 March 31, 2025 Net loss from continuing operations, net of tax, as reported (GAAP) $ (31,746) $ (10,683) In
Slide 12: Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 4QFY2025)
Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 4QFY2025) EBITDA and Adjusted EBITDA XTI Aerospace defines EBITDA as net income (loss) before interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for certain items including, (i) non-cash
Slide 13: Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 4QFY2025)
Reconciliation of Non-GAAP EBITDA & Adjusted EBITDA (1QFY2026 & 4QFY2025) For the Three Months Ended March 31, 2026 and December 31, 2025 Three Months Ended Three Months Ended ($ In thousands) March 31, 2026 December 31, 2025 Net loss from continuing operations, net of tax, as reported (GAAP) $ (31,
Slide 14: Thank You
Thank You Check out the XTI Aerospace Website! 14