XTI Aerospace, Inc.

Anticipates significant change

Yes

Days past due date

3

Other periodic reports filed

Yes

Routine

No

Severity

high

Source

Form 12b-25 (notification of late filing)

Stated reason

(the “Registrant”) has determined that it is unable to file its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 (the “Form 10-Q”) within the prescribed time period without unreasonable effort or expense because the Registrant is in the process of completing an internal review of the Registrant’s former Chief Executive Officer, who resigned on August 17, 2026, and other related corporate governance matters. The review is being conducted entirely by a committee of “independent directors” (the “Committee”) as defined by the Nasdaq Stock Market listing standards, as represented by independent counsel, and all parties are working diligently to complete the review…

Why

The company told the SEC it could not file a periodic report on time, using Form 12b-25.

Direction

dismissed

Direction label

The company dismissed the auditor

Item code

4.01

Item title

Changes in Registrant's Certifying Accountant

Severity

normal

Source

SEC 8-K item code

Why

The company's independent registered accounting firm changed.

Blank check

No

Comparable

Yes

Current state

substantial_doubt

Current state label

Substantial doubt about ability to continue as a going concern

Direction

escalated

Located in

filing body

Prior filed

2025-04-15

Prior form

10-K

Prior state

none

Prior state label

No going-concern disclosure

Source

ASC 205-40 going-concern note comparison

Why

Disclosure about the company's ability to continue as a going concern changed compared with its previous report.

New language

The Company is generally the principal in its sales arrangements as it controls the goods prior to transfer to the customer, establishes pricing, bears inventory and credit risk, and is responsible for fulfillment., In limited instances, the Company facilitates the sale of third-party service offerings (e.g., product protection programs), for which it acts as an agent and recognizes revenue on a net basis;

Prior filed

2025-04-15

Prior form

10-K

Similarity

0.069

Source

revenue recognition note comparison

Threshold

0.6

Why

The revenue recognition policy disclosure changed materially from the previous comparable filing.

Language present now, absent from the prior filing:

• The Company is generally the principal in its sales arrangements as it controls the goods prior to transfer to the customer, establishes pricing, bears inventory and credit risk, and is responsible for fulfillment.
• In limited instances, the Company facilitates the sale of third-party service offerings (e.g., product protection programs), for which it acts as an agent and recognizes revenue on a net basis;

Days past due date

0

Other periodic reports filed

Yes

Routine

No

Severity

elevated

Source

Form 12b-25 (notification of late filing)

Stated reason

(the “Registrant”) has determined that it is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Form 10-K”) within the prescribed time period without unreasonable effort or expense. During the year ended December 31, 2025 and subsequently, the Registrant completed significant strategic transactions, including the acquisition of Drone Nerds, LLC and Anzu Robotics, LLC in November 2025 and the disposition of its legacy Inpixon real-time location systems business (the “Inpixon Business”) in February 2026. The accounting for these transactions, including the purchase price allocation for the acquisition, the evaluation and presentation of…

Why

The company told the SEC it could not file a periodic report on time, using Form 12b-25.