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XTI Aerospace Reports Third Quarter 2026 Results

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FORT LAUDERDALE, Fla., Nov. 12, 2026 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA) (“XTI Aerospace,” “XTI,” or the “Company”), parent company of Drone Nerds, LLC, (“Drone Nerds”), a leading drone solutions platform serving commercial, enterprise and government customers, today announced financial results for its third quarter ended September 30, 2026, and reiterated its outlook for 2026.

2026 Third Quarter Highlights (Inpixon results excluded and reflected in discontinued operations):

Revenue of $35.3 million, up 8.8% sequentially from the second quarter 2026 and up 46.1% from third quarter 2025 proforma revenue, partially driven by September demand ahead of Section 232 tariffs implemented this yearGross profit of $7.7 millionGross profit as a percentage of revenue of approximately 21.7%, inclusive of one-time benefits, primarily relating to tariff recoveries. Excluding the nonrecurring amounts, the gross profit margin was 16.0%.G&A reduced to 29.2% of sales from 39.2% in the first six months of 2026. Cost realignment initiatives included a reduction in corporate and development-division headcount, consolidation of office footprint, and termination of non-core consulting, vendor and software contractsAdjusted EBITDA of $1.6 million compared to negative $4.9 million in the second quarter of 2026

“Our strategic pivot to focus on our Drone Nerds business is substantially complete,” said Jeremy Schneiderman, XTI Aerospace’s Interim Chief Executive Officer. “We have discontinued the operation of the XTI aircraft business, rightsized our corporate overhead and are focused on the significant opportunity in the commercial and enterprise drone market. We are uniquely positioned to help our customers manage their drone programs from aircraft payloads, software, fleet management and training, to service and repair.”

“We have continued to strengthen our product offerings over the last several months, adding pressure washing, airport detection and first responder programs to our portfolio. The growth opportunities we see across our portfolio combined with continued disciplined expense management is expected to lead to the transition to positive ongoing operating cash flows during the fourth quarter of 2026.”

2026 Financial Outlook and Guidance:

Full year 2026 revenue of $125 million to $130 millionFull year 2026 gross profit as a percentage of revenue of 17 percent to 19 percent

The Company’s outlook assumes, among other things, continued access to its asset-based credit facility and no material further changes in tariff policy, and is subject to the risks described below under “Cautionary Statement Regarding Forward-Looking Statements.”

2026 Third Quarter and Recent Events:

Announced partnership with AirSight, a drone detection and airspace security software solutions provider, to expand Drone Nerds’ drone detection offerings within its enterprise solutions portfolioIntroduced ABZ Innovation C30 High-Pressure Cleaning Drone to its Enterprise PortfolioLaunched its Drone as First Responder (DFR) program, Evolver DFR, which gives police, fire, and emergency agencies everything they need to confidently send a drone to an emergency callAppointed Dr. Allan Evans as Chairman of the Board of Directors and Jeremy Schneiderman as Interim CEO

Liquidity and Reduction of Corporate Expenses

As of September 30, 2026, the Company had $5.7 million of unrestricted cash and cash equivalents and $11.9 million of remaining availability on the borrowing base under its credit facility at Drone Nerds.

During the second and third quarters the Company took significant action to reduce its corporate and ADS headcount and related compensation, to consolidate its office footprint, and to terminate non-core consulting, vendor and software contracts. Average monthly operating cash outflows of the Company’s ADS and corporate operations (excluding Drone Nerds) during the third quarter were approximately $1.1 million per month, down approximately 42% from the second quarter, and 62% from the first quarter.   

The Company has also recently restructured $4.7 million of promissory notes, which had previously been in default and also secured a cross-default waiver from JPMorgan Chase Bank, N.A. on our revolving credit facility.

Unaudited Supplemental Combined Financial Information
For purposes of this release, references to “supplemental combined” financial information refer to the unaudited supplemental combined financial information described below.

The Company has provided unaudited supplemental financial information of the combined company in this press release. The following financial information combines XTI and Drone Nerds historical operating results as if the businesses had been operated together on a combined basis during prior periods. This financial information is intended to illustrate the current operating footprint of the Company following the acquisition of Drone Nerds and divestiture of the Company’s Industrial IoT / Real-Time Location Systems business.

The unaudited supplemental combined financial information is not “pro forma” financial information as that term is used in Article 11 of Regulation S-X. The unaudited supplemental combined financial information was not prepared in accordance with Article 11 of Regulation S-X and differs from the unaudited pro forma condensed combined financial information included in the Current Report on Form 8-K/A filed with the SEC on February 9, 2026 (the “Pro Forma 8-K Filing”), which was prepared in accordance with Article 11 of Regulation S-X and presented the year ended December 31, 2024 and the nine months ended September 30, 2025, which includes the 2025 periods shown in this press release, but did not present those periods separately. The unaudited supplemental combined financial information was not prepared in accordance with Article 11 of Regulation S-X and is presented for illustrative purposes to assist investors in understanding the operational performance of the combined business, timing and operational impact of the acquisition, and integration of the combined business, and should not be considered a substitute for the pro forma financial information included in the Company’s prior filings prepared in accordance with Article 11 of Regulation S-X.

Consequently, the unaudited supplemental combined financial information is intentionally different from, but does not supersede, the pro forma financial information set forth in the Pro Forma 8-K Filing or the pro forma financial information set forth in the Company’s most recent annual report on Form 10-K.

In addition, the unaudited supplemental combined financial information does not purport to indicate the results that actually would have been obtained had the companies been operated together during the periods presented, or which may be realized in the future. The unaudited supplemental combined financial information has no impact on XTI’s or Drone Nerds’ previously reported consolidated balance sheets or statements of operations, cash flows or equity.

XTI Aerospace, Inc. and Subsidiaries
Pro Forma(1) Combined Financial Data
(Unaudited)

Three Months Ended September 30,

(in thousands, except percentages)

2026

2025

$ Change

% Change

Revenues

$      35,314

$      24,164

$        11,150

46 %

Cost of revenues

27,637

19,133

8,504

44 %

Gross profit

7,677

5,031

2,646

53 %

Operating expenses

12,675

17,189

(4,514)

(26) %

Loss from operations

(4,998)

(12,158)

7,160

(59) %

Other expense, net

31,673

1,034

30,639

2963 %

Income tax expense

—

—

—

— %

Pro forma net income (loss) from continuing
operations

$      26,675

$     (11,124)

$        37,799

(340) %

(1) For information on unaudited supplemental combined financial information presented, see the section titled “Unaudited
Supplemental Combined Financial Information” in this press release.

The unaudited supplemental combined financial information excludes non-recurring transaction-related costs associated with the Drone Nerds acquisition.

Conference Call 

The Company will host a live webcast on Thursday, November 12, 2026 at 4:30 PM ET, which will consist of a live question and answer session with Jeremy Schneiderman, Interim Chief Executive Officer and Brooke Turk, Chief Financial Officer.

Investors and analysts are invited to participate and may register in advance using this link: https://xti-aerospace-3q-2026-conference-call.open-exchange.net/. The registration link is also available in the “Investor Relations” section of the Company’s website under “IR News & Events.” Dial-in information will be included upon registration.

The replay of the event will be publicly available to all investors in the Investor Relations section, under “IR News & Events” section of the Company’s website at xtiaerospace.com following the conclusion of the question and answer session and will remain available for 30 days.

About XTI Aerospace, Inc.

XTI Aerospace, Inc. (“XTI”) (Nasdaq: XTIA) is focused on building a leading platform for commercial and government drone adoption in the growing unmanned aircraft systems (“UAS”) industry. Through its subsidiary, Drone Nerds, LLC, XTI supports enterprise and government customers in sectors including public safety, agriculture, construction, and energy across the drone program lifecycle, from hardware sourcing and deployment to training, service, repair, and the proprietary Always Flying™ program. Its established U.S. customer base and reputation as a trusted solutions provider position the company as a go-to-market partner for drone manufacturers and software developers seeking to scale in the domestic market.

For more information about XTI, please visit xtiaerospace.com and follow XTI on LinkedIn, Instagram, X, and YouTube.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release are forward-looking statements. 

Forward-looking statements may be identified by words such as “believe,” “continue,” “could,” “would,” “will,” “expect,” “intend,” “plan,” “target,” “estimate,” “project,” or similar expressions. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, the Company’s ability to continue as a going concern, the Company’s ability to maintain the listing of its common stock on Nasdaq, the impact of Section 232 tariffs and other trade measures; pending regulatory inquiries and proceedings relating to the Company and its subsidiaries; potential conflicts of interest arising from its Interim Chief Executive Officer’s economic interest in the holders of its acquisition-related notes, market adoption, regulatory requirements, supply chain conditions, technological development, integration of the acquired businesses, the Company’s liquidity and ability to access additional capital on acceptable terms or at all, the Company’s stockholders’ equity and the sufficiency of its capital resources, and changes in applicable laws or regulations, customer demand variability and seasonal purchasing patterns, the Company’s ability to achieve projected gross margins and operating cost reductions, working capital timing and inventory management, the outcome of pending legal proceedings involving the Company and its subsidiaries, the Company’s ability to maintain relationships with key suppliers, restrictions and covenants under the Company’s ABL credit facility, risks related to the wind-down of the Company’s ADS division and the development of its ATM division, which has not generated revenues, and the potential for significant non-cash charges related to changes in the fair value of warrant liabilities as well as the other risks and uncertainties described in the Company’s filings with the SEC. The Company’s financial outlook and other projections in this press release are based on management’s current expectations and assumptions and are particularly subject to these risks. XTI undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law. Readers are encouraged to review the risk factors described in XTI’s filings with the SEC, including its most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and subsequent filings. 

Non-GAAP Measures
This press release contains certain financial measures that are not recognized under generally accepted accounting principles in the United States (“GAAP”). XTI uses earnings before interest, income taxes, depreciation amortization (“EBITDA”) and Adjusted EBITDA and important supplemental measures of the Company’s operating performance.

A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures for historical periods is provided in Schedule 1. As noted above under “2026 Financial Outlook and Guidance,” the Company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts due to the inherent difficulty in forecasting and quantifying certain reconciling items, including, without limitation, changes in the fair value of warrant liability.

The Company’s 2026 financial outlook is based on management’s current expectations and assumptions regarding customer demand, product availability, gross margin trends, operating cost levels, and the timing of working capital normalization. These targets are forward-looking statements and are subject to the risks and uncertainties described below and in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including with respect to pending legal proceedings, liquidity, the Company’s capital structure and the other matters described under “Cautionary Statement Regarding Forward-Looking Statements” below.

The Company has not provided a reconciliation of forward-looking Adjusted EBITDA or other forward-looking non-GAAP measures to the most directly comparable GAAP financial measures because certain reconciling items, including changes in the fair value of warrant liability and other items, depend on future events outside the Company’s control and cannot be reasonably predicted or determined without unreasonable efforts. The variability of these items could have a significant and potentially unpredictable impact on future GAAP results.

Contacts:

General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact

Investor Relations:
IR@xtiaerospace.com

XTI Aerospace, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(In thousands, except share and per share data)

(Unaudited)

Three Months Ended
September 30,

Nine Months Ended
September 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Revenues

$         35,314

$             —

$         95,459

$             —

Cost of Revenues

27,637

—

76,993

—

Gross Profit

7,677

—

18,466

—

Operating Expenses

Research and development

163

1,449

1,937

3,953

Sales and marketing

1,810

2,071

6,148

3,280

General and administrative

10,321

9,857

33,922

20,127

Merger and acquisition transaction costs

134

458

224

458

Amortization of intangible assets

247

8

705

24

Total Operating Expenses

12,675

13,843

42,936

27,842

Loss from Operations

(4,998)

(13,843)

(24,470)

(27,842)

Other Income (Expense)

Interest expense, net

(278)

(1)

(580)

(219)

Loss on extinguishment of debt

—

—

—

(421)

Warrant issuance expense

—

(785)

—

(6,580)

Change in fair value of warrant liability

32,023

2,151

18,989

(3,280)

Other

(72)

—

140

(349)

Total Other Income (Expense)

31,673

1,365

18,549

(10,849)

Income (Loss) from Continuing Operations Before
Income Taxes

26,675

(12,478)

(5,921)

(38,691)

Income tax benefit

—

—

—

6

Net Income (Loss) from Continuing Operations, net of
tax

26,675

(12,478)

(5,921)

(38,685)

Loss from operations of discontinued component,
inclusive of tax

(100)

(968)

(4,952)

(8,491)

Net income (Loss)

26,575

(13,446)

(10,873)

(47,176)

Net income attributable to noncontrolling interest

573

—

1,149

—

Net Income (Loss) Attributable to XTI Aerospace, Inc.

26,002

(13,446)

(12,022)

(47,176)

Less: Preferred stock dividends

—

—

42

29

Net Income (Loss) Attributable to Common
Stockholders

$       26,002

$      (13,446)

$      (12,064)

$      (47,205)

Net Income (Loss) Per Share – Basic:

Continuing operations

$           0.68

$          (0.57)

$          (0.19)

$          (3.55)

Discontinued operations

$              —

$          (0.04)

$          (0.13)

$          (0.78)

Net income (Loss) per share

$           0.68

$          (0.61)

$          (0.32)

$          (4.33)

Net Income (Loss) Per Share – Diluted:

Continuing operations

$           0.19

$          (0.57)

$          (0.19)

$          (3.55)

Discontinued operations

$              —

$          (0.04)

$          (0.13)

$          (0.78)

Net income (Loss) per share

$           0.19

$          (0.61)

$          (0.32)

$          (4.33)

Weighted Average Shares Outstanding, Basic

38,477,789

22,065,141

37,403,649

10,914,152

Weighted Average Shares Outstanding, Diluted

60,322,244

22,065,141

37,403,649

10,914,152

 

XTI Aerospace, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

September 30,
2026

December 31,
2025

(Unaudited)

Assets

Current Assets

Cash and cash equivalents

$           5,657

$         16,696

Accounts receivable, net

11,892

12,093

Inventories

17,807

15,400

Prepaid expenses and other current assets

5,552

3,989

Current assets of discontinued operations (Note 17)

—

3,645

Total Current Assets

40,908

51,823

Property and equipment, net

407

385

Operating lease right-of-use asset, net

1,341

2,965

Intangible assets, net

8,650

9,338

Goodwill

13,393

11,544

Note receivable

4,394

—

Other assets

778

403

Non-current assets of discontinued operations (Note 17)

—

4,788

Total Assets

$         69,871

$         81,246

September 30,
2026

December 31,
2025

(Unaudited)

Liabilities, Mezzanine Equity, and Stockholders’ Equity (Deficit)

Current Liabilities

Accounts payable

$           2,152

$           5,212

Accrued expenses and other current liabilities

6,820

6,556

Customer deposits

2,689

3,071

Warrant liability

24,459

22,561

Operating lease obligation, current

635

550

Note payable – related party

450

—

Acquisition-related promissory note – related party, current

726

7,931

Asset-based revolving line of credit

5,928

—

Income tax payable

1,600

—

Current liabilities of discontinued operations (Note 17)

—

1,722

Total Current Liabilities

45,459

47,603

Note payable – related party

—

450

Operating lease obligation, noncurrent

736

2,427

Acquisition-related promissory note – related party, noncurrent

3,930

—

Other non-current liabilities

60

—

Non-current liabilities of discontinued operations (Note 17)

—

322

Total Liabilities

50,185

50,802

Commitments and Contingencies (Note 13)

Mezzanine Equity

Representative and placement agent warrants, net of issuance costs

2,701

2,701

Stockholders’ Equity

Preferred Stock – $0.001 par value; 5,000,000 shares authorized

—

—

Series 4 Convertible Preferred Stock – $0.001 par value; 10,415 shares authorized; 1 share
issued and outstanding as of September 30, 2026 and December 31, 2025

—

—

Series 5 Convertible Preferred Stock – $0.001 par value; 12,000 shares authorized; 126 shares
issued and outstanding as of September 30, 2026 and December 31, 2025

—

—

Series 9 Convertible Preferred Stock – $0.001 par value; 20,000 shares authorized; 0 shares
issued and outstanding as of September 30, 2026 and December 31, 2025, respectively

—

—

Series 10 Convertible Preferred Stock – $0.001 par value; 25,000 shares authorized; 0 and
25,000 shares issued and outstanding as of September 30, 2026 and December 31, 2025,
respectively

—

21,793

Common Stock – $0.001 par value; 500,000,000 shares authorized; 38,477,789 and 32,786,816
shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively

38

33

Additional paid-in capital

180,138

157,354

Accumulated other comprehensive income

—

881

Accumulated deficit

(174,345)

(162,323)

Total Stockholders’ Equity

5,831

17,738

Noncontrolling interest – Class B Units of XTI Drones Holdings, LLC

11,154

10,005

Total Equity

16,985

27,743

Total Liabilities, Mezzanine Equity, and Equity

$         69,871

$         81,246

 

XTI Aerospace, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Nine Months Ended September 30,

(amounts in thousands, unaudited)

2026

2025

Cash Flows Used in Operating Activities

Net loss

$         (10,873)

$         (47,176)

Adjustment to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

163

103

Amortization of intangible assets

688

206

Amortization of right-of-use asset

560

100

Non-cash interest expense, net

31

145

Stock-based compensation

14,037

7,527

Impairment of goodwill

—

4,049

Impairment of intangible assets

—

631

Loss on extinguishment of debt

—

421

Warrant issuance expense

—

6,580

Change in fair value of warrant liability

(18,989)

3,280

Loss on sale of Inpixon division

831

—

Other

1

20

Changes in operating assets and liabilities:

Accounts receivable and other receivables

1,480

(1,293)

Inventories

(2,389)

1,016

Prepaid expenses and other current assets

(875)

101

Other assets

35

287

Accounts payable

(3,116)

(1,940)

Related party payables

—

(51)

Accrued expenses and other current liabilities

27

(4,600)

Customer deposits

(85)

336

Operating lease obligation

(529)

(98)

Net Cash Used in Operating Activities

(19,003)

(30,356)

Cash Flows Used in Investing Activities

Purchase of property and equipment

(228)

(126)

Net cash paid on disposal of the Inpixon Business

(694)

—

Net Cash Used in Investing Activities

(922)

(126)

Cash Provided by Financing Activities

Proceeds from the exercise of liability classified warrants

7,927

4,061

Proceeds from other debt

60

—

Payment of offering costs and commissions in connection with exercise of liability classified warrants

(488)

—

Net proceeds from sale of common stock and pre-funded warrants via public offerings

—

57,051

Net proceeds from ATM stock offering

—

1,667

Redemption of Series 9 preferred stock

—

(1,427)

Borrowings on Asset-Based Revolving Line of Credit (Drone Nerds)

89,456

—

Repayment of borrowings on Asset-Based Revolving Line of Credit (Drone Nerds)

(83,528)

—

Payment of debt issuance costs

(565)

—

Repayments of promissory notes – related party

(3,500)

(2,784)

Net Cash Provided by Financing Activities

9,362

58,568

Effect of Foreign Exchange Rate on Changes on Cash

20

7

Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash

(10,543)

28,093

Cash, Cash Equivalents and Restricted Cash – Beginning of period

16,919

4,105

Cash, Cash Equivalents and Restricted Cash – End of period

$            6,376

$          32,198

 

XTI Aerospace, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(In thousands)
(Unaudited)

Three Months Ended September 30,

(in thousands, except percentages)

2026

2025

$ Change

% Change

Revenues

$      35,314

$      24,164

$        11,150

46 %

Cost of revenues

27,637

19,133

8,504

44 %

Gross profit

7,677

5,031

2,646

53 %

Operating expenses

12,675

17,189

(4,514)

(26) %

Loss from operations

(4,998)

(12,158)

7,160

(59) %

Other expense, net

31,673

1,034

30,639

2963 %

Income tax expense

—

—

—

— %

Pro forma net income (loss) from continuing
operations

$      26,675

$     (11,124)

$        37,799

(340) %

Reconciliation of Pro Forma EBITDA and Pro
Forma Adjusted EBITDA

Pro forma net loss from continuing operations

26,675

(11,124)

Interest expense, net

278

353

Income tax expense

—

—

Depreciation and amortization

281

262

Pro Forma EBITDA

$      27,234

$     (10,509)

$        37,743

(359) %

Change in fair value of warrant liability

(32,023)

(2,151)

Severance and restructuring charges

817

—

Stock-based compensation expense

5,417

6,283

Selected charges that are unusual or non-recurring (1)

134

785

Pro Forma Adjusted EBITDA

$       1,579

$      (5,592)

$          7,171

(128) %

Pro forma Margins:

Gross margin

22 %

21 %

Pro Forma Adjusted EBITDA Margin

4 %

(23) %

(1) Includes warrant issue expense, change in fair value of investment, loss on extinguishment of debt, and other adjustments
that management believes are non-recurring.

 

Nine Months Ended September 30,

(in thousands, except percentages)

2026

2025

$ Change

Change*

Revenues

$      95,459

$      79,881

$        15,578

20 %

Cost of revenues

76,993

61,575

15,418

25 %

Gross profit

18,466

18,306

160

1 %

Operating expenses

42,936

37,979

4,957

13 %

Loss from operations

(24,470)

(19,673)

(4,797)

24 %

Other expense, net

18,549

(11,989)

30,538

(255) %

Income tax benefit

—

6

(6)

(100) %

Pro forma net loss from continuing operations

$      (5,921)

$     (31,656)

$        25,735

(81) %

Reconciliation of Pro Forma EBITDA and Pro
Forma Adjusted EBITDA

Pro forma net loss from continuing operations

(5,921)

(31,656)

Interest expense, net

580

1,434

Income tax benefit

—

(6)

Depreciation and amortization

831

781

Pro Forma EBITDA

$      (4,510)

$     (29,447)

$        24,937

(85) %

Change in fair value of warrant liability

(18,989)

3,280

Severance and restructuring charges

1,171

—

Stock-based compensation expense

13,866

7,362

Selected charges that are unusual or non-
recurring (1)

224

7,345

(1)

Pro Forma Adjusted EBITDA

$      (8,238)

$     (11,460)

$          3,222

(28) %

Pro forma Margins:

Gross margin

19 %

23 %

Pro Forma Adjusted EBITDA Margin

(9) %

(14) %

(1) Includes warrant issue expense, change in fair value of investment, loss on extinguishment of debt, and other adjustments
that management believes are non-recurring.

Schedule 1
XTI Aerospace, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
EBITDA and Adjusted EBITDA
(In thousands)
(Unaudited)

EBITDA and Adjusted EBITDA
XTI Aerospace defines EBITDA as net income (loss) before interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for certain items including, (i) non-cash stock-based compensation expense; (ii) severance and restructuring charges; (iii) change in the fair value of warrant liability; and (iv) selected charges that are unusual or non-recurring.

The Company believes that EBITDA and Adjusted EBITDA financial measures assist our board of directors, management, investors, and lenders in comparing our operating performance and establishing operational goals on a consistent basis across periods by removing the effects of our capital structure and other items that impact the comparability of financial results from period to period. We present EBITDA and Adjusted EBITDA because we believe they provide useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The most comparable GAAP financial measures, net income, and information reconciling the GAAP and non-GAAP financial measures are included in the table below:

Three Months Ended
September 30,

Nine Months Ended
September 30,

(in thousands)

2026

2025

2026

2025

Net income (loss) from continuing operations

$

26,675

$

(12,478)

$

(5,921)

$

(38,685)

Interest expense, net

278

1

580

219

Income tax benefit

—

—

—

(6)

Depreciation and amortization

281

24

831

66

EBITDA

$

27,234

$

(12,453)

$

(4,510)

$

(38,406)

Change in fair value of warrant liability

(32,023)

(2,151)

(18,989)

3,280

Severance and restructuring charges

817

—

1,171

—

Stock-based compensation expense

5,417

6,283

13,866

7,362

Selected charges that are unusual or non-recurring (1)

134

785

224

7,345

Adjusted EBITDA

$

1,579

$

(7,536)

$

(8,238)

$

(20,419)

(1) Includes warrant issue expense, change in fair value of investment, loss on extinguishment of debt, and other adjustments that
management believes are non-recurring.

 

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/C O R R E C T I O N – BTQ Technologies Corp./

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3 minutes ago

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November 14, 2026

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In the news release, BTQ Technologies to Host Live Webinar on Q3 2026 Financial Results and General Corporate Update, issued Nov. 13, 2026 by BTQ Technologies Corp. over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows:

BTQ Technologies to Host Live Webinar on Q3 2026 Financial Results and General Corporate Update

VANCOUVER, BC, Nov. 13, 2026 /PRNewswire/ — BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ),  a global technology company building the trust infrastructure for the quantum era, is pleased to announce that it will hold a shareholder call on Friday, November 17, 2026, at 11:00 a.m. EST to discuss its quarterly financial results and provide a general corporate update. The call will follow the release of the Company’s Q3 2026 financial statements, which will be issued after market close on Monday, November 16, 2026.

IMPORTANT – To register for the webcast see below:

When: November 17, 2026
Time: 11:00 AM Eastern Time
Topic: BTQ Technologies Shareholder Call to Discuss Q3 2026 Financial Results and Corporate Update

Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_n6WGI3lERpCZcA63pWQWVQ 

After registering, you will receive a confirmation email containing information about joining the webinar.

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is developing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman

Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Correction: An earlier version of this release incorrectly [describe the update briefly].

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CALIFORNIA SCIENCE CENTER CELEBRATES GRAND OPENING OF SAMUEL OSCHIN AIR AND SPACE CENTER

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4 minutes ago

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November 14, 2026

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Approximately 30 astronauts, including crew members of Endeavour’s final mission, and hundreds of schoolchildren joined Federal, State, County and Science Center officials for the launch of the new Air and Space Center

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LOS ANGELES, Nov. 13, 2026 /PRNewswire/ — The California Science Center’s highly anticipated Samuel Oschin Air and Space Center, the permanent home of Space Shuttle Endeavour, today opened to the public with a ribbon cutting and celebratory grand opening remarks. The Samuel Oschin Air and Space Center is the only location in the world to exhibit a complete, authentic space shuttle system, with a flown orbiter, solid rocket boosters, and external tank, displayed in 20-story launch position. This transformative 200,000-square-foot expansion of the California Science Center nearly doubles its exhibit space, showcasing a diverse collection of 100 artifacts, including rare and historic aerospace objects, as well as 100 hands-on exhibits, featuring interactive and immersive experiences focused on science and engineering.

Jeffrey Rudolph, President and CEO of the California Science Center; John N. Sinnema, Chair of the California Science Center Foundation Board of Trustees; Mrs. Lynda Oschin, Chairman of the Board and Secretary of the Mr. and Mrs. Samuel Oschin Family Foundation and the Samuel Oschin Air and Space Center’s lead donor; United States Senator Alex Padilla; United States Congresswoman Sydney Kamlager-Dove; California State Assemblymember Sade Elhawary; and Los Angeles County Supervisor Holly Mitchell  were joined by approximately 30 astronauts at the ceremony, including United States Senator Mark Kelly, who served as commander of Endeavour’s final mission in 2011, along with four of his crewmates: pilot Gregory Johnson and mission specialists Michael Fincke, Andrew Feustel, and Roberto Vittori.

Following the ribbon cutting, hundreds of elementary, middle, and high school students were among the first members of the public to experience the new addition to the California Science Center. Once open, schoolchildren explored the new Samuel Oschin Air and Space Center with the astronauts, and were welcomed by Chuck Lorre, co-creator and producer and Iain Armitage, star of television sitcom Young Sheldon, to the Shuttle Descent Slide, which is recognized “with Support from Young Sheldon” in appreciation for a generous gift from The Chuck Lorre Family Foundation.

“Endeavour will live here for generations and kids from around the country will visit this place, look up at that spaceship, and be inspired to build hard things and do hard things. I’m forever grateful to have played a small part and I’m thankful for the team here at the California Science Center who made it possible for me to bring my two grandkids here to see the greatest spaceship that ever was,” said U.S. Senator Mark Kelly (D-AZ) and former Commander of Space Shuttle Endeavour STS-134.

“From Los Angeles to Silicon Valley, California has long been at the forefront of innovation and scientific discovery,” said U.S. Senator Alex Padilla (D-CA). “The opening of the Samuel Oschin Air and Space Center, home to the only complete Space Shuttle System on display anywhere in the world, is an exciting investment in California’s future – not only strengthening our tourism economy but expanding educational opportunities and giving visitors of all ages the chance to experience the wonders of space exploration up close. Most importantly, this center will inspire imaginations, spark curiosity, and encourage the next generation of scientists, engineers, and explorers to dream bigger than ever before.”

“California has always been a place of discovery – from the early pioneers of flight to the engineers, astronauts, scientists, and innovators who helped shape the space age and who are powering the next era of exploration today. The new Samuel Oschin Air and Space Center reflects our state’s enduring commitment to science, education, and innovation, and it will inspire curiosity and learning for generations to come. On behalf of the people of California, I thank everyone who worked so hard to make this world-class Air and Space Center a reality, including the philanthropic partners whose support helped bring this extraordinary vision to completion,” remarked Governor Gavin Newsom. 

The new Air and Space Center invites guests of all ages to investigate the scientific and engineering principles of atmospheric flight and the exploration of the universe in three multi-level galleries – the Samuel Oschin Shuttle Gallery, the Korean Air Aviation Gallery, and the Kent Kresa Space Gallery. The opening of the Samuel Oschin Air and Space Center culminates the third and final major phase of the California Science Center’s 30-year master plan to develop one of the world’s leading science learning centers.

Housing Space Shuttle Endeavour in awe-inspiring launch position, the Samuel Oschin Shuttle Gallery is the star attraction of the Samuel Oschin Air and Space Center. The gallery towers nearly 200 feet high and its exhibits detail how the world’s first reusable spacecraft advanced the ability to live and work in low Earth orbit, while laying the groundwork for increasingly ambitious missions into deep space. In addition to preserving a critical chapter in space exploration, the gallery also offers an unparalleled educational experience, allowing guests to view this national treasure and engineering marvel from multiple perspectives and elevations. Other exhibits highlight the orbiter’s thermal protection system, its airlock, all 135 space shuttle missions, along with tributes to the crews who lost their lives during the Space Shuttle Program.

“The opening of the Samuel Oschin Air and Space Center is the fulfillment of a decades-long vision, and it is better than we ever dreamed,” said Jeffrey Rudolph, President and CEO of the California Science Center. “With Space Shuttle Endeavour in launch position, and three new galleries that nearly double our space for hands-on exhibits, the Samuel Oschin Air and Space Center gives us a greater platform than ever before to carry out our mission, to stimulate curiosity and inspire science learning in everyone. This unparalleled educational experience will stand as an enduring source of inspiration for generations of scientists, engineers and explorers.”

Lynda Oschin, Chairman of the Board and Secretary of the Mr. and Mrs. Samuel Oschin Family Foundation, remarked: “The Samuel Oschin Air and Space Center, and Space Shuttle Endeavour’s one-of-a-kind vertical display, exemplify many of the passions of my husband – especially astronomy, math, science, exploration, and helping children to achieve their dreams and never, ever give up. Fifteen years ago, I recognized the extraordinary potential of this project to inspire curiosity, encourage lifelong learning, and open new worlds of possibility for young people. I’m thrilled to welcome millions of children to the Samuel Oschin Air and Space Center, named to honor the memory and the tremendous legacy of my husband Samuel Oschin, a gentleman and a gentle man.”

Interactive Experiences, Exhibits, and Artifacts on View

Interactive experiences in the Samuel Oschin Shuttle Gallery include:

Launch Tower, a 140-foot ascent aboard an elevator alongside the shuttle stack leading to a dramatic, glass floor observation platform hovering over the nose of Space Shuttle Endeavour, with incredible views.Shuttle Descent Slide, a tubular slide with a 45-foot drop in elevation representing the shuttle’s descent from orbit. Guests will see bright orange light representing the plasma that glows as a shuttle re-enters the atmosphere and hear a double boom that evokes the sound of the nose and tail as each breaks the sound barrier on a shuttle’s return to Earth.The opportunity to sit inside a replica flight deck and interact with joysticks, switches, lights, buttons and pedals like those the shuttle commander and pilot would operate.Orbiter Landing Simulator, a test of guests’ piloting ability as they try to land Endeavour on a runway.

In the Korean Air Aviation Gallery guests view more than a dozen authentic aircraft across three levels from floor to ceiling, from gliders to fighter jets, including the Hawker Siddeley Harrier T.4., Grumman F11F Tiger, and a Pitts Special S-1C, among others. Visitors also experience a “flight” from LA to Seoul compressed into a five-minute video journey in an immersive onboard theater presentation inside the forward 70 feet of a retired Korean Air-operated Boeing 747-400 commercial airliner.

Other hands-on experiences include:

Wing Shape and Distance interactive, where guests launch aircraft models with different wing shapes to see how far they fly at various speeds.Launch a Drone Mission interactive, where visitors can launch simultaneous drone missions over a Los Angeles cityscape to learn about everyday applications of autonomous flight.Wear-a-Wing invites guests to put on a pair of foam “wings” and viscerally experience the force of lift.Air Race flight simulators put guests in the pilot’s seat of iconic aircraft from the Science Center’s collection. Guests will choose between the Pitts Special, JN-4 Jenny, and Velie Monocoupe and race for a spot on the leaderboard. Each flight simulator seats two guests, has intuitive single-joystick controls, and features full 360-degree rotation.

Among the artifacts featured in the Kent Kresa Space Gallery are machines built to explore space, from rockets and robots to space capsules and telescopes, including flown spacecraft like the Mercury-Redstone 2 capsule, Gemini 11 capsule, Apollo-Soyuz Command Module, and SpaceX Dragon cargo spacecraft.

Other experiences include:

Program a Mars rover.International Space Station Fly-Through Simulator, where guests can physically pull themselves through the ISS in an immersive experience using real footage taken by an astronaut.The opportunity to suit up in a digital space suit.

Opening Weekend Public Programming

To continue the opening celebration, from 11:30 a.m. on Friday, November 13 through Sunday, November 15, 2026, astronaut, aviation- and space-themed talks will be hosted every half hour through 5:00 p.m. (last talk at 4:00 p.m.). With topics ranging from “women in space” to specific mission overviews, astronauts and experts from NASA Jet Propulsion Laboratory (JPL) and NASA Armstrong Flight Research Center will speak to audiences and answer questions, with no timed reservations required.

Also premiering November 13 is “Endeavour’s Long Journey,” a photo exhibit documenting Space Shuttle Endeavour’s final flight over California, the 12-mile, 68-hour journey through the streets of Los Angeles and Inglewood to the Science Center, and the complex, six-month, multi-phase process of stacking each of the space shuttle components in launch configuration.

Accompanying space-themed large-format movies opening at the California Science Center IMAX Theater on November 13 include The Dream Is Alive, an unprecedented window on board the space shuttle and an inside look at the astronauts’ rigorous training; Journey to Space 3D, revisiting three decades of shuttle-era achievements and culminating in Endeavour’s journey to the California Science Center; Hubble 3D, the story of the Hubble Space Telescope; and A Beautiful Planet 3D, a breathtaking portrait of Earth from space.

Timed Reservations

General admission to the California Science Center, including the Samuel Oschin Air and Space Center featuring Space Shuttle Endeavour, is free. Due to anticipated high demand, timed reservations are required for entry to the Samuel Oschin Air and Space Center, which can be made in advance for a $4 service fee. For more information and to make reservations, visit CaliforniaScienceCenter.org. Entry may be limited or unavailable without advance reservations.

Project Team

The Samuel Oschin Air and Space Center was designed by ZGF, with engineering by Arup, construction by MATT Construction, and exhibit design by Evidence Design. Additional project partners include Plas-Tal Manufacturing, responsible for structural steel, and BrandSafway, which provided scaffolding and shuttle protection. The project was developed under the leadership of the California Science Center, with Dennis R. Jenkins serving as Project Director.

Donors

This incredible educational and civic accomplishment has been enabled by the tremendous support of lead donors the Mr. and Mrs. Samuel Oschin Family Foundation and the State of California; principal donors Korean Air and the Kresa Family Foundation; as well as The Ahmanson Foundation, Thomas and Dorothy Leavey Foundation, W. M. Keck Foundation, The Chuck Lorre Family Foundation, Melanie and Richard Lundquist, The Otis Booth Foundation, Weingart Foundation, and Dr. Ibrahim and Mrs. Wensley El-Hefni Technical Training Foundation. The California Science Center Foundation is grateful for their substantial investments, which together with the support of over 1,100 donors to the EndeavourLA Campaign, total more than $415 million raised to date in support of the $450 million project.

About the California Science Center

The California Science Center is a dynamic destination where families, children and adults explore the wonders of science through hands-on exhibits, live demonstrations, innovative programs, and awe-inspiring large-format movies. The California Science Center, Samuel Oschin Air and Space Center and IMAX Theater are located in historic Exposition Park just west of the Harbor (110) Freeway at 700 Exposition Park Drive, Los Angeles. Open daily from 10:00 a.m. to 5:00 p.m. General admission to the Science Center is FREE. The California Science Center is proud to be accredited by the Association of Zoos and Aquariums (AZA) and the American Alliance of Museums (AAM). Visit californiasciencecenter.org for more information.

About the EndeavourLA Campaign

A project of this scope and scale requires the visionary leadership of the philanthropic community and the support of the broader public. EndeavourLA is the California Science Center Foundation’s fundraising campaign that enabled the acquisition and previous temporary display of Space Shuttle Endeavour and supports our work to create the Samuel Oschin Air and Space Center and sustain ongoing exhibits, programs, and operations. The project’s lead donors are the Mr. and Mrs. Samuel Oschin Family Foundation and the State of California, joined by principal donors Korean Air and the Kresa Family Foundation, along with numerous individuals, foundations, and corporate supporters. 

The California Science Center Foundation is actively fundraising for this ambitious project with more than $415 million raised toward the $450 million goal. Donations at any level are welcome to help complete the funding. To contribute or learn more, go to EndeavourLA.org.

Media Contacts

Kristina Kurasz Cutting | Director of Communications | California Science Center
kkurasz@californiasciencecenter.org | 213-744-7446

Sophie Jefferies | Communications Manager | California Science Center
sjefferies@californiasciencecenter.org | 213-744-7491

Maura Klosterman-Vu | Polskin Arts
maura.klosterman@finnpartners.com | 310-552-4117

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SOURCE California Science Center Foundation

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Gaine Expands Consent and Preference Management Solution Across Healthcare Markets

Published

4 minutes ago

on

November 14, 2026

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Building on proven success in pharmaceutical and life sciences, Gaine introduces enterprise-wide consent and preference management for healthcare payers and providers ahead of HLTH 2026.

SAN LUIS OBISPO, Calif., Nov. 13, 2026 /PRNewswire/ — Gaine Technology, a leader in healthcare data management, today announced the expansion of its Consent and Preference Management solution across healthcare markets, building on its established success in the pharmaceutical and life sciences industry.

With more than 50 million patient consents under management, Gaine is extending its proven capabilities to address the growing need among health plans and healthcare providers to manage consent, communication preferences, and data-sharing permissions across increasingly complex and fragmented technology environments.

As healthcare organizations accelerate interoperability, digital engagement, and AI initiatives, the ability to consistently identify individuals, understand their preferences, and honor consent decisions across systems has become increasingly critical.

“Healthcare organizations have invested heavily in capturing consent, but the real challenge is ensuring those decisions follow the individual across systems, programs, and interactions,” said Martin Dunn, CEO of Gaine Technology. “Building on our success in life sciences, we’re expanding these capabilities to help payers and providers establish a trusted, enterprise-wide approach to consent and preference management.”

Moving Beyond Traditional Consent Management

Built on Gaine’s Health Data Management Platform (HDMP), the solution goes beyond traditional consent capture by connecting consent and preferences to trusted identities, relationships, programs, communication channels, and applicable data-sharing rules.

The platform enables organizations to:

Unify consent and preferences across disconnected applications and engagement channels.Resolve identities to associate consent with the correct patient, member, or healthcare professional.Govern consent decisions with effective dates, withdrawals, audit history, and data lineage.Operationalize individual choices by making governed consent and preference information available to downstream systems.

Unlike standalone consent applications, Gaine does not require organizations to replace existing systems. Instead, HDMP serves as an enterprise data management and orchestration layer, helping ensure individual choices are consistently understood and applied across the organization.

Expanding a Proven Healthcare Data Foundation

Gaine’s expansion brings established life sciences capabilities into the payer and provider markets, addressing use cases spanning member engagement, care management, patient communications, data sharing, and enterprise governance.

With a healthcare-specific ontology refined over more than 15 years, Gaine provides the identity, context, and relationships needed to transform fragmented consent records into trusted, actionable information.

Gaine will be meeting with healthcare and life sciences leaders at HLTH 2026, November 15–18 in Las Vegas, to discuss the growing importance of enterprise consent and preference management.

Learn more: https://www.gaine.com/solutions/consent-and-preference

About Gaine Technology

Gaine Technology provides the Health Data Management Platform (HDMP), enabling healthcare and life sciences organizations to establish trusted, connected, and operationally actionable data. Built on a comprehensive healthcare ontology, HDMP combines identity resolution, master data management, data quality, governance, and enterprise integration to support complex healthcare operations, and meet customers where they are at in their digital transformation journey.

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SOURCE Gaine Technology

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