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XTI Aerospace cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$10.6M in Q2 2026 · −$35.9M over twelve months

Operating cash flow−$10.6M
Capital spending−$39K
Free cash flow−$10.6M
Cash conversion cycle86 days

Analysis

In Q2 2026, XTI Aerospace generated −$10.6M of operating cash flow and spent $39K on capital projects, leaving free cash flow of −$10.6M. That is $3.8M less than in Q2 2025 (−$6.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$35.6M; the largest uses were operating cash flow ($35.6M), acquisitions ($17.2M), other investing ($2.0M); besides operations, cash came from other financing ($42.7M); the cash balance fell by $12.8M.

Operating cash flow was −$10.6M against net income of −$2.8M. The largest differences: receivables −$4.1M, stock-based pay +$3.8M, prepaid and other assets +$1.1M.

Its cash conversion cycle was 86 days (receivables 31 + inventory 65 − payables 10).

Free cash flow

XTI Aerospace: free cash flow by quarterXTI Aerospace: free cash flow by quarter−$6.2MQ3 2024−$8.0MQ4 2024−$15.3MQ1 2025−$6.8MQ2 2025−$8.4MQ3 2025−$6.3MQ4 2025−$10.6MQ1 2026−$10.6MQ2 2026
Operating cash flow less capital spending.
XTI Aerospace: operating cash flow against capital spendingXTI Aerospace: operating cash flow against capital spendingOperating cash flowCapital spending−$6.1M$36KQ3 2024−$8.0M$14KQ4 2024−$15.2M$45KQ1 2025−$6.7M$58KQ2 2025−$8.4M$23KQ3 2025−$6.3M$89KQ4 2025−$10.5M$131KQ1 2026−$10.6M$39KQ2 2026
Latest (Q2 2026): Operating cash flow −$10.6M, Capital spending $39K.

Capital allocation, year by year

XTI Aerospace: where the cash came from (up) and went (down), by fiscal yearXTI Aerospace: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$37.1MFY2021: Capital spending −$346KFY2021: Acquisitions $184K$184KFY2021FY2022: Operating cash flow −$34.0MFY2022: Shares issued $61.0MFY2022: Capital spending −$245K$61.0MFY2022FY2023: Operating cash flow −$4.2MFY2023: Net borrowing $3.7MFY2023: Shares issued $26.5MFY2023: Capital spending −$3K$30.2MFY2023FY2024: Operating cash flow −$22.3MFY2024: Net borrowing $3.2MFY2024: Shares issued $2KFY2024: Capital spending −$68K$3.2MFY2024FY2025: Operating cash flow −$36.6MFY2025: Net borrowing −$15.8MFY2025: Shares issued $22.8MFY2025: Capital spending −$215KFY2025: Acquisitions −$16.5M$22.8MFY2025
Over these 5 years operating cash flow totalled −$134M; the largest uses were operating cash flow ($134M) and acquisitions ($16.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.2M
Debt$11.0M
Net debt$3.8M
Cash runway2 months

XTI Aerospace is burning cash: its operations consume cash, a free cash flow of −$35.9M a year at the current rate against $7.2M of cash and investments: a runway of about 2 months before any new financing.

Where the cash came from and went

XTI Aerospace: sources (+) and uses (−) of cash, Q2 2026XTI Aerospace: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$10.6MCash drawn (+) / kept (−)$8.0MOther financing$2.6MCapital spending−$39K
XTI Aerospace: sources (+) and uses (−) of cash, TTM to Q2 2026XTI Aerospace: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$42.7MOperating cash flow−$35.6MAcquisitions−$17.2MCash drawn (+) / kept (−)$12.8MOther investing−$2.0MExchange rates−$329KCapital spending−$282K

From profit to cash

XTI Aerospace: net income to operating cash flow, Q2 2026XTI Aerospace: net income to operating cash flow, Q2 2026Net income−$2.5MDepreciation & amortization$271KStock-based pay$3.8MOther non-cash$259KReceivables−$4.1MInventory$321KPayables−$794KAccrued liabilities$120KDeferred revenue−$564KPrepaid and other assets$1.1MOperating cash flow−$10.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202631651086
Q1 202634691787
Q4 202534492261
Q3 2025451281712
Q1 202511913692735-1247

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$10.6M−$39K———$8.0M−$10.6M
Q1 2026−$10.5M−$131K−$694K−$2.0M$7.9M$1.7M−$10.6M
Q4 2025−$6.3M−$89K———$15.3M−$6.3M
Q3 2025−$8.4M−$23K—−$65K$21.0M−$12.2M−$8.4M
Q2 2025−$6.7M−$58K—$14.7M$37.8M−$12.0M−$6.8M
Q1 2025−$15.2M−$45K—$20.6M$4.0M−$3.9M−$15.3M
Q4 2024−$8.0M−$14K———−$3.6M−$8.0M
Q3 2024−$6.1M−$36K———$5.3M−$6.2M

XTI Aerospace: income statement and cash flow

XTI Aerospace, Q2 2026: revenue $32.4M, operating margin -28.0%. The chart follows the revenue to costs, profit and cash.

XTI Aerospace: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.