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ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ: XTIA), a developer of VTOL and powered-lift aircraft with a market capitalization of $9 million, has reached a key milestone as the Federal Aviation Administration (FAA) accepted its Type Certification (TC) application for the TriFan 600 on March 17, 2025. According to InvestingPro analysis, the stock appears undervalued despite falling 95% over the past six months. This acceptance is a significant step in the company’s product and engineering developments for the first quarter.
The formal TC application is part of XTI’s collaboration with the FAA’s Innovation Office to establish the AC 21-17b "powered-lift" requirements. The FAA will now review the "Basis for Certification" document provided by XTI and begin the Stage 2 process, which involves consultation with FAA experts to refine the certification plan. InvestingPro data shows the company faces financial challenges with a current ratio of 0.46, indicating its short-term obligations exceed liquid assets.
Dave Ambrose, VP of Engineering at XTI Aircraft, expressed the importance of this submission as a pivotal step in the certification process and an achievement for the engineering team. Following a General Familiarization briefing with the FAA in December, the company is poised to engage further with FAA experts.
Scott Pomeroy, Chairman and CEO of XTI Aerospace, highlighted the excitement surrounding this advancement towards certification. He acknowledged the contributions of pioneers like Joby and Archer in shaping the regulatory landscape for VTOL aircraft and emphasized the importance of collaboration with the FAA.
XTI Aerospace has outlined six core product and engineering milestones for the first quarter, with the downwash/outwash study completed and the launch of the "Sparrow" subscale working model scheduled for early Q2. Remaining milestones include optimizing the fuel system design, refining engine air inlets and exhaust, developing a flight deck human factors mockup, and updating the Global Finite Element Model for the aircraft’s structural integrity.
The TriFan 600, developed by XTI Aircraft Company, is designed to combine the vertical takeoff and landing capabilities of a helicopter with the speed and range of a fixed-wing aircraft, introducing a new category of vertical lift crossover airplanes (VLCA). XTI Aerospace also houses the Inpixon business unit, which specializes in real-time location systems technology used in various industrial settings. With analyst price targets ranging from $12 to $15, significantly above current trading levels, InvestingPro subscribers can access 18 additional key insights about XTIA’s financial health and market position.
This news is based on a press release statement from XTI Aerospace, Inc. The company cautions that forward-looking statements contained in the release are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from expectations.
In other recent news, XTI Aerospace has authorized a $5 million stock buyback program, reflecting the company’s belief in the intrinsic value of its shares. This repurchase initiative will take place over twelve months, with the possibility of extension, and aims to enhance shareholder value. XTI Aerospace has also completed a significant downwash study for its TriFan 600 aircraft, marking a key milestone in its engineering and product development efforts. The study’s findings suggest improved safety and efficiency during vertical takeoff and landing, aligning with the company’s commitment to innovation in aviation technology.
Moreover, XTI Aerospace has regained compliance with Nasdaq’s minimum bid price requirement, a development that underscores the company’s focus on long-term growth and shareholder value. The company is progressing towards its 2025 milestones for the TriFan 600, including optimizing the fuel system and applying for FAA type certification, which are crucial steps for the aircraft’s commercial readiness. Additionally, XTI Aerospace has appointed Kimberly Montgomery to its Corporate Advisory Board, bringing her extensive experience in air medical transport to support the company’s strategic initiatives.
These developments highlight XTI Aerospace’s ongoing efforts to advance its aircraft technology and strengthen its market position. The company remains focused on achieving its strategic goals while navigating the challenges and opportunities within the aerospace industry.
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