XTI Aerospace, Inc. and its subsidiaries, including Drone Nerds, entered into a $20 million asset‑based lending (ABL) credit facility with JPMorgan Chase & Co. The facility, effective February 11 2026, is backed by accounts receivable and inventory and provides the company with revolving borrowing capacity to support working‑capital needs, fund future growth, and repay $10.5 million of debt incurred by Drone Nerds during its November 2025 acquisition.
XTI’s recent financial performance underscores the importance of this liquidity infusion. In fiscal year 2024 the company reported revenue of $3.2 million, a 29.8% decline from the prior year, and a net loss of $35.6 million. The new credit line therefore represents a critical buffer that will help the company manage cash‑flow volatility while it scales its drone and unmanned aircraft systems (UAS) operations.
The facility is a direct consequence of the $40 million acquisition of Drone Nerds, which has become a key growth engine for XTI. Management expects the line of credit to provide flexibility as it optimizes inventory and order‑book management for enterprise and government customers. "Securing this credit facility with JP Morgan is an important milestone in aligning our capital structure with our operating model," said CEO Scott Pomeroy. "As the Drone Nerds platform drives continued revenue growth, we expect the credit facility to provide flexibility as we seek to optimize our inventory and order book to serve our enterprise and government customers," he added.
The company also announced full‑year 2026 revenue guidance of $160 million, representing approximately 30% growth, and the first time it has provided such guidance. "For the first time, we are providing full‑year revenue guidance, reflecting the increased visibility we now have into our pipeline and customer demand from long‑term and emerging relationships. We expect full‑year 2026 revenue to exceed $160 million representing approximately 30% growth," Pomeroy said.
The ABL facility matures on February 11 2029 and includes a minimum fixed‑charge coverage ratio covenant of 1.0x, imposing an ongoing performance test on Drone Nerds. The line can be expanded by up to $25 million under certain conditions, giving XTI additional flexibility to fund capital expenditures or pursue further acquisitions. The liquidity boost is expected to help the company achieve cash‑flow positive operations by the end of 2026 and strengthen its balance sheet in a competitive UAS market.
XTI’s transformation strategy has also involved divesting non‑core assets such as its Inpixon RTLS business and appointing Jonathan G. Ornstein to its board, signaling a renewed focus on drone leadership and potential M&A activity. The new credit facility, combined with these strategic moves, positions XTI to capitalize on growing demand for enterprise and government UAS solutions while managing leverage and maintaining operational flexibility.
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