XTEND AI Robotics (NYSE: XTND) expects revenue of $24.5 million to $26.5 million for the nine months ended September 30, 2026, and has named retired Navy SEAL Captain Matt McGraw chief executive of its U.S. business. The Tampa, Florida company also reported an AI Robotics segment backlog of about $84 million at the end of September. Co-founder and CEO Aviv Shapira published a letter to shareholders alongside the figures.
Preliminary figures
The numbers are preliminary, unaudited and unreviewed. They remain subject to quarter-end closing procedures, and the company says final results may differ. XTEND plans to publish full third quarter results on November 16, 2026.
AI Robotics segment revenue for the nine months is put at $23 million to $24 million. The construction segment contributes the rest. Its line in the company's table reads $1.5 to $2.5 with no unit shown, but the stated total range implies millions of dollars.
The construction figure includes only a short stretch of ownership. XTEND counts results from JFB, its construction subsidiary, from the acquisition date of September 3, 2026, through September 30. That is under a month of construction revenue in the nine-month total.
Shapira said the company expects nine-month revenue to surpass its full-year 2025 revenue and its AI Robotics backlog of roughly $84 million. The company did not state the 2025 revenue figure in this release, so the size of the increase cannot be calculated from the information provided.
A SEAL officer takes the U.S. business
McGraw retired from the U.S. Navy as a SEAL Captain after more than 25 years of service. He served as Deputy Commanding Officer of the 75th Ranger Regiment and as a Squadron Commander at Naval Special Warfare Command. At the Defense Innovation Unit, he scouted emerging technologies for special operations requirements.
His most recent job was Vice President of Operations at Live Earth Imaging. He holds an MBA from Northwestern's Kellogg School of Management and a master's degree in Defense Analysis from the Naval Postgraduate School.
At XTEND he will lead U.S. sales, production and delivery. That scope covers the full chain from selling systems to building and shipping them. Shapira tied the appointment to a broader view of the market. In his words, the U.S. and Israel are building permanent commands around autonomy, and the company needs leadership able to scale with that demand. The full letter is available on the XTEND shareholder letter page.
Two businesses, one listing
XTEND AI Robotics operates two strategies through two subsidiaries. XTEND Reality Expansion Ltd. develops and sells software and robotic hardware for high-threat, complex environments where human exposure carries significant risk. Its products run on the proprietary XTEND Operating System, known as XOS, which is designed to provide autonomy at the edge.
JFB Construction Holdings runs a commercial and residential construction and development business. Its work includes retail corporate buildouts, multifamily developments and luxury residential homes.
The company says the two units complement each other. XTEND's AI-enabled drones could be applied to jobsite security, land surveying, building inspections and monitoring on JFB projects. In the other direction, JFB's construction expertise is meant to help reduce the cost of XTEND's U.S. manufacturing expansion.
The release also refers to the anticipated delivery of systems under what it calls the DDP order. It gives no detail on the size, customer or timing of that order, and it lists the delivery among its forward-looking statements. Those statements carry stated risks, including the timing and size of government and defense orders and geopolitical and economic conditions in the regions where XTEND operates.
What the numbers show and what they leave open
The split in the preliminary figures is the clearest signal. AI Robotics accounts for the large majority of nine-month revenue, at $23 million to $24 million of a $24.5 million to $26.5 million total. The construction business is a small contributor so far, and that is partly because it has been consolidated for less than a month. The listed company is, for now, mostly a defense and autonomy software and hardware business with a construction arm attached.
The backlog is a useful figure but a limited one. At about $84 million, it is more than three times the segment's nine-month revenue. That suggests contracted work that has not yet been delivered. The release does not say how much of the backlog converts to revenue in any given period, or how firm the underlying orders are. The company itself flags order timing and size as a risk.
The hire points at the constraint the company seems to see. Selling to U.S. military customers, building systems domestically and delivering them are operational problems as much as technical ones. Putting a former special operations officer with Defense Innovation Unit experience over all three suggests XTEND regards execution and customer access as the bottleneck for its U.S. growth. That is an inference from the role's scope and McGraw's background, not something the company states.
The compared-with-2025 claim cannot be tested yet. Without the 2025 revenue figure in the release, outside readers cannot tell whether surpassing it is a modest step or a large one. The November 16 results will show whether the preliminary ranges hold, how the segments are reported, and whether the company gives more detail on the DDP order.
Several things remain unproven. The cost savings the company expects from using JFB's construction expertise on its manufacturing build-out have no figures attached. The drone applications for jobsites have no deployments described. Whether a robotics and construction combination produces shared benefits, rather than two separate businesses reported together, will depend on disclosures that have not yet appeared.
