Xiao-I Corp. ADR (AIXI) AI Stock Analysis

• Market Cap: $4.62M
• Dividend Yield: N/A
• Average Volume (3M): 329.02K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.48
• Revenue Growth: 19.01%
• EPS Growth: 44.24%
• Country: US
• Employees: 281
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): N/A
• Shares Outstanding: 13,452,777
• 10 Day Avg. Volume: 356,248
• 30 Day Avg. Volume: 329,024
• PEG Ratio: 0.07
• Price to Book (P/B): -4.46
• Price to Sales (P/S): 0.77
• P/FCF Ratio: -3.51
• Enterprise Value/Market Cap: 16.90
• Enterprise Value/Revenue: 1.60
• Enterprise Value/Gross Profit: 2.33
• Enterprise Value/Ebitda: -2.95
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.33 ▼(-6.00% Downside)

The score is held down primarily by weak financial performance—ongoing losses, negative operating cash flow, and negative equity/high liabilities—despite strong revenue growth and solid gross margins. Technicals add risk with a clear downtrend across key moving averages and negative MACD, partially offset by oversold readings. Valuation provides limited support because a negative P/E is driven by losses and no dividend yield is available.

Positive Factors

Strong multi-year revenue growth

Sustained top-line expansion from $13.9M to $70.3M reflects durable demand for Xiao‑I's AI solutions across sectors. Persistent revenue growth provides scale for product investment and customer expansion, improving odds of future operating leverage and long-term profitability if cost trends are managed.

High gross margins consistent with software model

A ~68% gross margin indicates strong incremental economics typical of software and AI licensing. High gross profitability supports sustainable long-run margins as revenue scales, enabling the company to absorb SG&A and R&D while retaining a path to eventual positive operating margins once fixed-cost leverage is achieved.

Recurring licensing and subscription revenue model

A licensing and subscription-driven business establishes recurring, contractable revenue and customer stickiness. This structural model supports predictable cash inflows, long customer lifecycles, and upsell opportunities across enterprise verticals, strengthening revenue durability over multiple quarters.

Negative Factors

Persistent negative operating cash flow

Consistent negative operating cash flow (-$15.1M) signals the core business currently consumes cash rather than funds growth internally. Over months this increases reliance on financing, constrains strategic investments, and raises execution risk if external capital access tightens, hampering sustainable scaling.

Negative shareholders' equity and high liabilities

Negative equity and $101.3M of liabilities indicate a stressed capital structure and elevated leverage. This reduces financial flexibility, can restrict access to low‑cost capital, increase refinancing risk, and potentially force asset or operational moves to repair the balance sheet, affecting long-term stability.

Nasdaq listing compliance risk

Dual Nasdaq deficiency notices create a material structural risk: management has 180‑day cure periods to regain compliance. Failure could lead to delisting, reduced liquidity, and diverted executive focus to capital actions rather than product or market growth, impacting long‑term shareholder access and strategy.

Xiao-I Corp. ADR Business Overview & Revenue Model

Company Description

Xiao-I Corporation, through its subsidiary, Shanghai Xiao-i Robot Technology Co., Ltd., provides smart city, software, and architectural design artificial intelligence services in the People's Republic of China. It offers software products, such as intelligent interactive platform, intelligent voice platform, knowledge fusion platform, computer vision series platform, and other intelligent products. The company also develops and commercializes cognitive intelligence artificial intelligence platform products, including natural language processing, speech processing, computer vision, machine learning, affective computing, and data intelligence and hyperautomation. The company's product platforms comprise conversational AI, knowledge fusion, intelligent voice, hyperautomation, data intelligence, cloud, intelligent construction support, vision analysis, intelligent hardware support, and metaverse platform. It serves communications, finance, government affairs, legal, medical, manufacturing, and other industries. The company was incorporated in 2018 and is based in Shanghai, China.

How the Company Makes Money

Xiao-I Corp. generates revenue primarily through the licensing of its AI technologies and software solutions to enterprises across diverse industries. The company earns money from subscription fees for its AI services, custom software development projects, and consulting services that help organizations integrate AI into their operations. Additionally, Xiao-I forms strategic partnerships with other technology firms and enterprises to co-develop solutions, which also contribute to its revenue streams. The growing demand for AI-driven solutions in various sectors has significantly bolstered its earnings potential.

Xiao-I Corp. ADR Financial Statement Overview

Summary

Strong revenue growth (2020 $13.9M to 2024 $70.3M) and a healthy ~68% gross margin are outweighed by persistent net losses, negative operating cash flow (-$15.1M in 2024), and a highly stressed balance sheet with negative shareholders’ equity (-$12.2M) and heavy liabilities ($101.3M). KPI data supports growth concentration in Mainland China and emerging segments, but financial stability remains the primary constraint.

Income Statement

The income statement shows a notable revenue growth from $13.9M in 2020 to $70.3M in 2024, indicating strong top-line expansion. However, the company has consistently reported losses, with a net income of -$14.5M in 2024, despite narrowing compared to previous years. The gross profit margin is robust at approximately 68.3% in 2024, but negative EBIT and EBITDA margins highlight operational inefficiencies.

Balance Sheet

The balance sheet reveals a concerning financial structure with negative shareholders' equity of -$12.2M in 2024, indicating liabilities exceed assets. The debt-to-equity ratio is not calculable due to negative equity, and the equity ratio is also negative. High total liabilities ($101.3M) point to significant leverage and potential financial instability.

Cash Flow

Cash flow analysis shows consistent negative operating cash flow, with -$15.1M in 2024, indicating cash consumption in core operations. Free cash flow remains negative, though there is a slight improvement in free cash flow growth compared to previous years. The operating cash flow to net income ratio is negative, reflecting cash flow challenges in relation to reported losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	48.91M	70.31M	59.17M	48.18M	32.52M	13.86M
Gross Profit	33.49M	48.05M	39.42M	30.81M	21.64M	6.63M
EBITDA	-26.51M	-11.09M	-19.57M	-2.01M	6.26M	-4.52M
Net Income	-29.20M	-14.51M	-26.46M	-5.90M	3.68M	-6.81M
Balance Sheet
Total Assets	82.39M	85.51M	66.33M	60.58M	47.19M	25.18M
Cash, Cash Equivalents and Short-Term Investments	5.01M	846.59K	1.56M	1.03M	1.31M	673.38K
Total Debt	48.86M	45.86M	36.86M	42.65M	31.08M	18.81M
Total Liabilities	119.18M	101.28M	74.80M	69.57M	50.57M	31.81M
Stockholders Equity	-32.85M	-12.20M	-4.86M	-5.89M	-189.16K	-3.81M
Cash Flow
Free Cash Flow	-2.33M	-15.51M	-18.00M	-11.03M	-11.91M	-3.50M
Operating Cash Flow	-2.33M	-15.14M	-15.79M	-10.92M	-11.89M	-3.46M
Investing Cash Flow	82.82K	-468.57K	-20.06M	-2.86M	77.26K	-25.82K
Financing Cash Flow	5.70M	15.84M	36.47M	13.51M	12.19M	1.79M

Xiao-I Corp. ADR Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIXI, the sentiment is Negative. The current price of 0.35 is below the 20-day moving average (MA) of 0.42, below the 50-day MA of 0.60, and below the 200-day MA of 1.83, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 26.89 is Positive, neither overbought nor oversold. The STOCH value of 4.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AIXI.

Xiao-I Corp. ADR Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CNTM	59 Neutral	$55.69M	-0.61	―	―	419.60%	75.23%
NTWK	57 Neutral	$36.92M	82.31	1.40%	―	7.70%	-36.01%
HKIT	52 Neutral	$64.46M	-26.92	-6.17%	―	-47.44%	-318.95%
MTC	51 Neutral	$73.80M	-0.70	-291.75%	―	―	―
CXAI	43 Neutral	$9.27M	-0.48	-80.59%	―	-27.47%	83.06%
AIXI	41 Neutral	$4.62M	-0.14	―	―	19.01%	44.24%

Xiao-I Corp. ADR Corporate Events

Xiao-I Corporation Appoints New Independent Director Following Board Resignation

On December 30, 2025, Xiao-I Corporation announced that Jun Xu resigned from its board of directors and from the audit, compensation, and nominating and corporate governance committees, with the company stating that his departure did not arise from any disagreement over operations, policies, or practices. On the same date, the board appointed Binbin Zhang as an independent director and as a member of the same three key committees, with his appointment and related director and indemnification agreements taking effect on January 1, 2026, providing him annual compensation of RMB 300,000 and standard indemnity protections, thereby maintaining the independence and continuity of the board’s oversight structure for shareholders and other stakeholders.

The most recent analyst rating on (AIXI) stock is a Hold with a $0.44 price target. To see the full list of analyst forecasts on Xiao-I Corp. ADR stock, see the AIXI Stock Forecast page.

Xiao-I Corporation Files Unaudited Interim Financials for First Half of 2025

On December 31, 2025, Xiao-I Corporation filed a Form 6-K with the U.S. Securities and Exchange Commission furnishing its unaudited condensed consolidated financial statements for the six months ended June 30, 2025 and 2024, along with an operating and financial review for the same 2025 interim period. The filing, which incorporates these materials into several existing registration statements, updates investors on the company’s interim financial position, liquidity and performance, and ensures its U.S.-listed securities remain supported by current financial disclosure, a key consideration for shareholders and potential investors monitoring its capital structure and operating trends.

The most recent analyst rating on (AIXI) stock is a Hold with a $0.43 price target. To see the full list of analyst forecasts on Xiao-I Corp. ADR stock, see the AIXI Stock Forecast page.

Xiao-I Corporation Hit with Dual Nasdaq Listing Deficiency Notices

On December 16 and 17, 2025, Xiao-I Corporation received two deficiency notices from Nasdaq indicating that the company had fallen out of compliance with continued listing standards, specifically the minimum $1.00 bid price requirement and the $15 million minimum market value of publicly held shares threshold, after its ADSs traded below those levels for 30 consecutive business days in each case. The notices, which do not immediately affect the listing or trading of Xiao-I’s ADSs on the Nasdaq Global Market, trigger separate 180-day grace periods—running until June 16, 2026 for bid price and June 15, 2026 for market value—during which the company must restore compliance for at least ten consecutive trading days, and the company said it will evaluate potential options to regain compliance, underscoring heightened listing risk for shareholders if these efforts are unsuccessful.

The most recent analyst rating on (AIXI) stock is a Hold with a $0.62 price target. To see the full list of analyst forecasts on Xiao-I Corp. ADR stock, see the AIXI Stock Forecast page.