XTI Aerospace adds tech executive Hanna Tomory to board

ENGLEWOOD, Colo. – XTI Aerospace, Inc. (NASDAQ:XTIA), a company specializing in xVTOL and powered-lift aircraft with a current market capitalization of $7.25 million, today announced the appointment of Hanna Tomory, a senior executive from Palantir Technologies, to its Corporate Advisory Board. According to InvestingPro data, the company faces significant operational challenges, with a negative EBITDA of $27.25 million in the last twelve months.

Tomory brings a wealth of experience in commercial business from her current role at Palantir Technologies, where she leads the company’s commercial operations in Canada and strategic initiatives in the U.S. and globally. Her expertise extends across various sectors, including critical infrastructure, manufacturing, telecommunications, finance, and government.

As XTI continues to develop its TriFan 600 aircraft and explores new applications in regional air mobility and government sectors, Tomory’s knowledge in artificial intelligence (AI) and digital transformation will be instrumental in guiding XTI’s strategic direction. The company aims to integrate adaptive and AI-powered systems to enhance aircraft performance, safety, and operational flexibility. InvestingPro analysis reveals the company maintains a gross profit margin of nearly 59%, though it’s currently experiencing rapid cash burn - one of 16+ key insights available to Pro subscribers.

Scott Pomeroy, CEO and Chairman of XTI, expressed his enthusiasm for Tomory’s appointment, highlighting her deep expertise in complex, data-driven decision-making and her global perspective on technology deployment in mission-critical industries.

Tomory remarked on the significance of XTI’s vision for the TriFan aircraft, which combines vertical lift with intelligent systems, and expressed excitement about contributing to the transformation of aviation through operational capabilities that stem from bold ideas.

Michael Tapp, Chairman of XTI’s Corporate Advisory Board, noted Tomory’s appointment as a valuable addition, bringing global technology strategy and digital innovation expertise to the company.

Tomory, who also has dual master’s degrees in industrial engineering and theology, is an advisor to technology startups and co-founder of nonprofit organizations. Her involvement with XTI is anticipated to be hands-on, as she is currently taking flight lessons and may one day pilot a TriFan herself.

XTI Aerospace is known for developing the TriFan 600, a business aircraft with VTOL capabilities, and its business unit Inpixon is a leader in real-time location systems (RTLS) technology.

This news is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. XTI advises readers to carefully consider the risk factors that could cause actual results to differ from those projected. The company’s financial health score from InvestingPro currently stands at "Weak," with analysts projecting continued challenges ahead. The stock has experienced significant volatility, declining nearly 89% over the past six months, though recent analysis suggests the shares may be approaching Fair Value levels.

In other recent news, XTI Aerospace has made significant strides in its financial and operational landscape. The company has fully repaid its outstanding debt to Streeterville Capital, utilizing $2.7 million from a recent public offering, which could indicate a stronger financial position. Additionally, XTI Aerospace has settled financial obligations with its former CEO, Nadir Ali, and related entities, resolving outstanding issues and terminating previous agreements. This settlement includes the redemption of preferred stock and a structured payment plan to satisfy remaining obligations.

In a strategic move, XTI Aerospace has retired all remaining equity-based financing instruments and is focusing on its flagship TriFan 600 aircraft. The company recently unveiled a new model of the TriFan 600 at the Avalon Airshow in Australia, showcasing its VTOL capabilities and latest aerodynamic design. Plans are underway to begin flight testing of the subscale model, "Sparrow," to evaluate its performance and safety standards. Furthermore, XTI Aerospace has appointed Preston Dunlap to its Corporate Advisory Board, leveraging his extensive experience in aerospace technology to advance the TriFan 600’s development. These recent developments reflect XTI Aerospace’s efforts to enhance its financial stability and technological advancements in the aerospace industry.

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