The company's financial position has deteriorated significantly, with equity shifting to a $23.9 million deficit and the current ratio falling to a precarious 0.55 in 2026Q1.
| Total Current Assets | 50.34M | 51.82M | 8.58M | 20.5M | 29.87M | 4.57M | 30.32M | 6.76M | 3.36M | 9.21M | 30.14M |
| Cash & Short-Term Investments | 15.19M | 16.7M | 4.11M | 6.25M | 9.28M | 4.32M | 25.99M | 4.85M | 1.08M | 189K | 1.89M |
| Cash Only | 15.19M | 16.7M | 4.11M | 6.25M | 9.28M | 4.32M | 18M | 4.85M | 1.08M | 189K | 1.89M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 8M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.05M | 12.09M | 1.24M | 6.77M | 1.42M | 170.21K | 1.89M | 1.18M | 1.28M | 442K | 12.15M |
| Days Sales Outstanding | 43.44 | 196.26 | 141.81 | - | 84.84 | 3.88 | 74.24 | 68.47 | 124.78 | 41 | 83.41 |
| Inventory | 19.41M | 15.4M | 2.21M | 2.42M | 2M | 0 | 1.24M | 400K | 568K | 783K | 1.06M |
| Days Inventory Outstanding | 88.43 | 319.94 | 417.41 | 23.2K | 242.32 | - | 72.74 | 21.6 | 35.36 | 47.41 | 9.1 |
| Other Current Assets | 6.69M | 7.63M | 84K | 5.06M | 17.12M | 0 | 1.2M | 334K | 426K | 3.16M | 1.72M |
| Total Non-Current Assets | 28M | 29.42M | 15.71M | 3.27M | 27.77M | 333.6K | 28.69M | 14.45M | 8.82M | 18.48M | 36.33M |
| Property, Plant & Equipment | 2.09M | 0 | 546K | 612K | 869K | 31.63K | 3.52M | 1.73M | 202K | 348K | 1.39M |
| Fixed Asset Turnover | 64.13x | - | 5.86x | - | 7.03x | 505.67x | 2.64x | 3.64x | 18.59x | 11.31x | 38.39x |
| Goodwill | 11.54M | 11.54M | 12.07M | 0 | 0 | 0 | 6.59M | 2.07M | 0 | 636K | 9.03M |
| Intangible Assets | 9.11M | 9.34M | 1.88M | 2.51M | 3.52M | 301.96K | 0 | 9.94M | 205.24K | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 666K | 0 | 2.5M | 616K | 2.27M | 140K | 210K |
| Other Non-Current Assets | 5.26M | 8.54M | 1.21M | 145K | 22.72M | 0 | 152K | 94K | 147K | 10.04M | 5.96M |
| Total Assets | 78.34M | 81.25M | 24.29M | 23.77M | 57.63M | 4.9M | 59.01M | 21.22M | 12.18M | 27.69M | 66.47M |
| Asset Turnover | 0.82x | 0.28x | 0.13x | - | 0.11x | 3.26x | 0.16x | 0.30x | 0.31x | 0.14x | 0.80x |
| Asset Growth % | 491.08% | 234.47% | 2.2% | -58.76% | 1076.32% | -91.7% | 178.1% | 74.24% | -56.02% | -58.34% | - |
| Total Current Liabilities | 90.95M | 47.6M | 17.42M | 16.9M | 24.71M | 10.05M | 12.12M | 13.74M | 7.28M | 42.03M | 51.17M |
| Accounts Payable | 3.41M | 5.21M | 5.49M | 2.45M | 720K | 454.24K | 908K | 2.38M | 1.13M | 1.56M | 23.03M |
| Days Payables Outstanding | 31.66 | 108.28 | 1.03K | 23.52K | 87.37 | 18.75 | 53.14 | 128.69 | 70.29 | 94.58 | 197.45 |
| Short-Term Debt | 11.7M | 8.48M | 2.66M | 8.74M | 12.56M | 1.07M | 6.05M | 987.9K | 4.13M | 3.06M | 6.89M |
| Deferred Revenue (Current) | 7.49M | 3.07M | 1.88M | 625K | 546K | 1.1M | 1.92M | 912K | 234K | 58K | 15.04M |
| Other Current Liabilities | 68.35M | 30.84M | 6.28M | 3.64M | 8.84M | 6.18M | 3.24M | 9.17M | 1.67M | 37.35M | 6.21M |
| Current Ratio | 0.55x | 1.09x | 0.49x | 1.21x | 1.21x | 0.45x | 2.50x | 0.49x | 0.46x | 0.22x | 0.59x |
| Quick Ratio | 0.34x | 0.77x | 0.37x | 1.07x | 1.13x | 0.45x | 2.40x | 0.46x | 0.38x | 0.20x | 0.57x |
| Cash Conversion Cycle | 100.21 | 407.92 | -475.26 | - | 239.8 | - | 93.85 | -38.62 | 89.85 | -6.17 | -104.94 |
| Total Non-Current Liabilities | 1.02M | 3.2M | 296K | 141K | 806K | 3.37M | 2.21M | 1.08M | 93K | 4.51M | 12.59M |
| Long-Term Debt | 0 | 450K | 65K | 0 | 3.75M | 3.37M | 0 | 1.08M | 74K | 767K | 4.05M |
| Capital Lease Obligations | 3.78M | 2.43M | 231K | 141K | 334K | 0 | 1.46M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 87K | 0 | -2.64M | 0 |
| Other Non-Current Liabilities | 0 | 322K | 0 | 0 | -3.27M | 0 | 757K | 0 | 19K | 3.75M | 2.59M |
| Total Liabilities | 91.97M | 50.8M | 17.72M | 17.04M | 25.52M | 13.41M | 14.33M | 15.17M | 7.38M | 46.54M | 63.76M |
| Total Debt | 12.72M | 11.36M | 3.07M | 9.08M | 16.85M | 4.44M | 7.5M | 2.07M | 4.2M | 3.83M | 10.93M |
| Net Debt | -2.46M | -5.34M | -1.03M | 2.83M | 7.57M | 120.75K | -10.49M | 4.07M | 3.12M | 3.64M | 9.04M |
| Debt / Equity | -0.93x | 0.37x | 0.47x | 1.35x | 0.52x | - | 0.17x | 0.34x | 0.87x | - | 4.03x |
| Debt / EBITDA | -0.31x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.06x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | 499.96x | -195.47x | -24.06x | -1.21x | -28.91x | - | -10.35x | -13.25x | -14.23x | -7.66x | -9.48x |
| Total Equity | -13.63M | 30.44M | 6.57M | 6.73M | 32.12M | -8.51M | 44.68M | 6.05M | 4.8M | -18.85M | 2.71M |
| Equity Growth % | 272.13% | 363.1% | -2.3% | -79.05% | 477.23% | -119.05% | 638.76% | 25.92% | 125.48% | -794.91% | - |
| Book Value per Share | -0.39 | 1.86 | 28.94 | 423.21 | 191.82 | -58.31 | 1163.54 | 41.31 | 31.52 | -125.87 | 999999.00 |
| Total Shareholders' Equity | -23.91M | 20.44M | 6.57M | 6.34M | 33.3M | -8.51M | 44.64M | 6.02M | 4.79M | -16.85M | 4.71M |
| Common Stock | 38K | 33K | 2K | 3K | 0 | 35.6K | 53K | 4K | 2K | 1K | 33K |
| Retained Earnings | -197.59M | -162.32M | -93.56M | -359.7M | -313.74M | -32.42M | -180.99M | -151.76M | -117.77M | -94.49M | -59.47M |
| Treasury Stock | 0 | 0 | 0 | -695K | -695K | 0 | -695K | -695K | -695K | -695K | -695K |
| Accumulated OCI | 0 | 881K | -622K | 630K | 1.06M | 0 | 660K | 94K | 26K | 62K | -614K |
| Minority Interest | 10.28M | 10.01M | 0 | 390K | -1.18M | 0 | 41K | 26K | 18K | -2.01M | -2M |
Liquidity and solvency pressure
According to recent financial filings, XTIA's equity position has shifted from a positive $20.4 million in 2025Q4 to a deficit of $23.9 million by 2026Q1, signaling a rapid erosion of shareholder value as the company struggles to balance legacy operations with intensive aerospace development costs.
The transition into a negative equity position suggests that the company's accumulated losses are outpacing its ability to generate capital through operations or financing. Investors should monitor whether this trajectory necessitates further dilutive equity raises to restore a positive net asset position.
As reported in financial statements, the current ratio plummeted to 0.55 in 2026Q1 from 1.09 in the previous quarter, indicating that current liabilities now significantly exceed current assets and leaving the company with a precarious buffer against ongoing operational cash requirements.
This liquidity crunch implies that the company may face difficulty meeting short-term obligations without immediate capital intervention. The rapid decline in the current ratio highlights the high-risk nature of the current cash burn relative to the available liquid assets.
Based on reported figures, total debt increased to $12.7 million in 2026Q1, representing a notable rise from the $11.4 million recorded in 2025Q4, which suggests an increasing reliance on debt financing to sustain the company's aerospace R&D initiatives during a period of negative cash flow.
While the debt-to-equity ratio is technically distorted by the negative equity base, the absolute increase in debt obligations warrants caution. This trend may indicate that the company is exhausting its traditional financing capacity, potentially limiting future strategic flexibility.
As indicated by the balance sheet, goodwill remains a significant component of total assets at $11.5 million, representing a substantial portion of the $78.3 million in total assets, which may expose the company to future impairment risks if legacy business performance falters.
The concentration of intangible assets relative to the company's limited tangible asset base suggests that the balance sheet is highly sensitive to valuation adjustments. Analysts should consider the potential for goodwill write-downs if the legacy RTLS segment fails to provide the expected cash flow support.
Quick answers to the most common questions about buying XTIA stock.
As of 2025, XTI Aerospace, Inc. (XTIA) had total assets of $81.2M including $51.8M in current assets.
XTI Aerospace, Inc. (XTIA) carries total debt of $11.4M, offset by $16.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
XTI Aerospace, Inc. (XTIA) has total shareholders' equity (book value) of $20.4M ($1.86 book value per share). Book value represents the net worth of the company belonging to common stock holders.
XTI Aerospace, Inc. (XTIA) reported a current ratio of 1.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.