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ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ:XTIA), a $31.75 million market cap aerospace company that maintains more cash than debt on its balance sheet, has completed more than 1,500 complex computational fluid dynamics (CFD) calculations to analyze the aerodynamics design of its TriFan 600 aircraft, the company announced today.
The calculations were performed using the Frontier supercomputer, which can execute over a quintillion calculations per second. This analysis is intended to help the company optimize performance and safety as it prepares to test subscale versions of the TriFan 600 xVTOL (extended Vertical Take-Off and Landing) aircraft. According to InvestingPro data, while analysts anticipate sales growth this year, the company is rapidly burning through its cash reserves.
The digital simulations tested the aircraft in various configurations, attitudes, speeds, and mission profiles. XTI reports that the analysis has helped achieve anticipated improvements in aerodynamics ahead of formal wind tunnel confirmation tests, which will be part of the Federal Aviation Administration (FAA) certification process.
"As we pioneer the Vertical Economy, our collaboration with Oak Ridge gives XTI a critical advantage: compressing and accelerating the work of our engineering teams while de-risking key aspects of our TriFan 600 xVTOL design," said Scott Pomeroy, Chairman and CEO of XTI Aerospace, in the press release.
The TriFan 600 is described as a fixed-wing business aircraft designed to combine vertical takeoff and landing capabilities with a maximum cruising speed of 311 mph and a range of 985 miles.
XTI Aerospace is based near Denver, Colorado, and trades on the Nasdaq under the ticker XTIA. The company also operates Inpixon, a business unit focused on real-time location systems technology. The stock has shown significant volatility, with a remarkable 193.6% return over the past week, though it remains well below its 52-week high. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 14 additional ProTips available to subscribers.
In other recent news, XTI Aerospace has made significant advancements with its TriFan 600 aircraft. The Federal Aviation Administration (FAA) has selected the Certification Branch Office in Ft. Worth, Texas, to oversee the type certification of the TriFan 600, following the acceptance of XTI’s formal application. At the Avalon Airshow in Melbourne, Australia, XTI unveiled a new model of the TriFan 600, showcasing its vertical takeoff and landing capabilities. The company plans to begin flight testing the subscale model, known as "Sparrow," to evaluate its performance and safety standards.
Additionally, XTI Aerospace has strengthened its Corporate Advisory Board with the appointments of Stephen Griessel, Hanna Tomory, and Preston Dunlap. Griessel, with over 40 years of leadership in aerospace and defense, is expected to contribute to XTI’s strategic growth. Tomory, from Palantir Technologies, brings expertise in artificial intelligence and digital transformation, while Dunlap’s experience in national security and aerospace technology is anticipated to align the TriFan 600 with military and civilian needs. These appointments are part of XTI’s ongoing efforts to enhance its strategic direction and technological innovation.
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