XTI Aerospace, Inc. (Nasdaq: XTIA) announced on October 13, 2026, that an internal review initiated in July 2026 has been completed. The review was conducted by a special committee of independent directors and independent outside counsel regarding the company's former Chief Executive Officer and related corporate governance matters. The company reported that no financial misstatements were discovered during this process.
The company stated it is on track to file its quarterly report on Form 10-Q by October 26, 2026. The filing will include preliminary unaudited financial results for the quarter ended June 30, 2026. Management anticipates reporting second quarter 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 that these figures are subject to the completion of financial closing procedures and review by the independent registered public accounting firm.
XTI also announced that it is withdrawing its previously issued 2026 financial guidance and expects to provide a comprehensive update at a later date. The company is focused on implementing enhancements to its governance framework under the oversight of the Board of Directors.
