AIXI Xiao-I Corp

Overview and Growth

Xiao-I Corp generated $12.33M of revenue in fiscal 2025, with net loss of $101.22M and an operating cash outflow of $3.69M. At $12.33M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The company reported diluted EPS of -$2.44, adding a shareholder-level measure to the absolute income figures considered below. The diluted weighted-average share count was 41.51M, linking total earnings with the per-share result received by shareholders. The company employed $15.90M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.78x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $5.48M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 44.4% of revenue, showing how much of the top line remained after direct costs. Operations produced a $96.60M operating loss before non-operating and tax effects. The operating loss equaled 783.6% of revenue, showing the scale of the operating deficit relative to sales. After all below-operating-line items, the company recorded a net loss of $101.22M for the fiscal year. Net margin was -821.1%, reflecting a loss equal to 821.1% of reported revenue. Negative EBITDA totaled $96.48M, confirming that the earnings deficit remained before depreciation and amortization. The pretax result was a loss of $101.83M, establishing the deficit before tax effects. Pretax margin was -826.0%, reflecting a pre-tax loss equal to 826.0% of revenue. The net loss equaled 636.6% of period-end assets, showing the deficit relative to the asset base. The net loss widened to $101.22M from $14.51M in fiscal 2024.

Liquidity and Capital Structure

At period end, the $15.90M asset base was financed through $120.77M of liabilities and -$104.86M of equity. The company reported negative equity of -$104.86M, a capital deficit that reduces its ability to absorb losses through book equity. The near-term balance sheet paired $11.93M of current assets with $103.29M of current liabilities at the reporting date. The current ratio was 0.12x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Reported cash and equivalents were $2.32M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 2.2% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $30.60M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-assets relationship was 192.4%, comparing borrowing with the total asset balance. Equity equaled -659.5% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 759.5% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 14.6%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 81.4% lower than fiscal 2024 assets of $85.51M, measuring the company’s own balance-sheet change. Cash and equivalents were 174.0% higher than fiscal 2024 cash of $846.59K, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Operating activities used $3.69M of cash, resulting in an operating cash outflow for the year. The company spent $41.74K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. The company recorded a $3.73M cash deficit after capital spending for the period. The free-cash-flow deficit equaled 30.3% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 23.5% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.