Xiao-I Corporation (AIXI) Balance Sheet
AIXI balance sheet, 2025
December 31, 2025 · U.S. dollars$15.9M assets = $120.8M liabilities + −$104.9M equity
Liabilities exceed assets: shareholders’ equity is negative (−$104.9M).
Both columns are drawn to the same scale: what AIXI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AIXI financial health
Descriptive bands, not a rating. Fiscal 2025.
AIXI balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $25.2M2020 | $15.9M2025 | −8.8%/yr | |
| Total liabilities | $31.8M2020 | $120.8M2025 | +30.6%/yr | |
| Shareholders’ equity | −$3.8M2020 | −$100.6M2025 | — | |
| Cash & short-term investments | $673,3782020 | $2.4M2025 | +29.3%/yr | |
| Total debt | $18.8M2020 | $46.8M2025 | +20.0%/yr | |
| Net cash (debt) | −$18.1M2020 | −$44.3M2025 | −$26.2M | |
| Working capital | −$13.7M2020 | −$93.2M2025 | −$79.5M | |
| Current ratio | 0.472020 | 0.102025 | −0.37 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AIXI assets
AIXI liabilities and equity
AIXI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AIXI balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $2.4M | $846,593 | $1.6M | $1.0M | $1.3M | $673,378 |
| Cash & equivalents | $2.4M | $846,593 | $1.6M | $1.0M | $1.3M | $366,865 |
| Short-term investments | — | — | $322,576 | — | $70,765 | $306,513 |
| Receivables | $4.1M | $67.4M | $30.7M | $42.1M | $31.7M | $8.1M |
| Inventory | $0 | $14,362 | $1.2M | $768,216 | $768,762 | $273,364 |
| Other current assets | $3.6M | $8.2M | $4.5M | $4.6M | $2.1M | $3.1M |
| Total current assets | $10.1M | $76.5M | $38.1M | $48.4M | $35.8M | $12.1M |
| Property, plant & equipment (net) | $203,786 | $2.7M | $4.6M | $1.1M | $1.4M | $2.5M |
| Goodwill & intangible assets | $114,442 | $143,370 | $212,445 | $637,114 | $798,459 | $886,479 |
| Long-term investments | $0 | $2.5M | $2.7M | $2.9M | $335,448 | $482,463 |
| Other non-current assets | $5.5M | $3.7M | $20.9M | $7.6M | $8.8M | $9.2M |
| Total assets | $15.9M | $85.5M | $66.3M | $60.6M | $47.2M | $25.2M |
| Liabilities | ||||||
| Accounts payable | $39.2M | $27.1M | $13.7M | $9.5M | $6.2M | $2.5M |
| Short-term debt | $41.6M | $43.0M | $32.7M | $30.5M | $21.7M | $17.8M |
| Deferred revenue | $2.8M | $2.4M | $7.1M | $2.6M | $3.0M | $2.2M |
| Total current liabilities | $103.3M | $86.6M | $57.7M | $52.6M | $36.1M | $25.8M |
| Long-term debt | $5.2M | $2.5M | $2.7M | $3.3M | $0 | $0 |
| Lease obligations | $58,488 | $779,620 | $2.4M | $736,436 | $1.2M | $2.3M |
| Other long-term liabilities | $12.3M | $12.1M | $14.5M | $13.7M | $14.5M | $6.0M |
| Total liabilities | $120.8M | $101.3M | $74.8M | $69.6M | $50.6M | $31.8M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $2,762 | $1,598 | $1,201 | $1,106 | $1,106 | $1,106 |
| Retained earnings (deficit) | −$226.6M | −$125.3M | −$110.8M | −$78.5M | −$72.6M | −$76.3M |
| Accumulated other comprehensive income | −$4.1M | −$2.6M | −$2.8M | −$3.0M | −$3.2M | −$3.2M |
| Minority interest | −$4.3M | −$3.6M | −$3.6M | −$3.1M | — | — |
| Total shareholders' equity | −$100.6M | −$12.2M | −$4.9M | −$5.9M | −$189,158 | −$3.8M |
| Key figures | ||||||
| Total debt | $46.8M | $45.9M | $36.9M | $42.6M | $31.1M | $18.8M |
| Net cash (debt) | −$44.3M | −$45.0M | −$35.3M | −$41.6M | −$29.8M | −$18.1M |
| Working capital | −$93.2M | −$10.1M | −$19.6M | −$4.2M | −$257,625 | −$13.7M |
| Tangible book value | −$100.7M | −$12.3M | −$5.1M | −$6.5M | −$987,617 | −$4.7M |
| Current ratio | 0.10 | 0.88 | 0.66 | 0.92 | 0.99 | 0.47 |
| Quick ratio | 0.06 | 0.79 | 0.56 | 0.82 | 0.91 | 0.34 |
| Equity / assets | −632.4% | −14.3% | −7.3% | −9.7% | −0.4% | −15.1% |
| Sep '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.6M | $2.4M | $2.3M | $5.0M | $5.0M | $846,593 | $846,593 | $846,593 | $1.8M | $1.8M | $1.6M | $1.6M |
| Cash & equivalents | $3.6M | $2.4M | $2.3M | $5.0M | $5.0M | $846,593 | $846,593 | $846,593 | $1.8M | $1.8M | $1.6M | $1.6M |
| Short-term investments | — | — | — | — | — | — | — | — | $13.5M | — | — | — |
| Receivables | $834,698 | $4.1M | $6.3M | $65.2M | $51.4M | $67.4M | $67.4M | $55.5M | $53.4M | $47.1M | $30.7M | $28.3M |
| Inventory | $0 | $0 | $0 | $96,031 | $38,965 | $14,362 | $14,362 | $14,362 | $1.4M | $81,242 | $1.2M | $2.7M |
| Other current assets | $1.4M | $3.6M | $3.3M | $950,084 | $17.3M | $8.2M | $8.2M | $20.1M | $4.9M | $12.5M | $4.5M | $5.4M |
| Total current assets | $5.9M | $10.1M | $11.9M | $71.3M | $73.7M | $76.5M | $76.5M | $76.5M | $61.5M | $61.5M | $38.1M | $38.1M |
| Property, plant & equipment (net) | $68,999 | $203,786 | $203,786 | $2.3M | $2.3M | $2.7M | $2.7M | $2.7M | $3.3M | $3.3M | $4.6M | $4.6M |
| Goodwill & intangible assets | $2,639 | $114,442 | $114,442 | $129,299 | $0 | $143,370 | $143,370 | $143,370 | $161,670 | $161,666 | $212,445 | $212,445 |
| Long-term investments | $0 | $0 | $0 | $0 | $2.5M | $0 | $2.5M | $0 | $2.6M | $0 | $2.7M | $0 |
| Other non-current assets | $226,644 | $5.5M | $3.7M | $8.7M | $3.8M | $6.2M | $3.7M | $6.2M | $20.1M | $22.7M | $20.9M | $23.5M |
| Total assets | $6.2M | $15.9M | $15.9M | $82.4M | $82.4M | $85.5M | $85.5M | $85.5M | $87.6M | $87.6M | $66.3M | $66.3M |
| Liabilities | ||||||||||||
| Accounts payable | $40.6M | $39.2M | $39.2M | $38.3M | $38.3M | $27.1M | $27.1M | $27.2M | $32.2M | $32.2M | $13.7M | $13.8M |
| Short-term debt | $40.2M | $41.6M | — | $46.1M | — | $43.0M | $43.0M | $43.2M | $35.3M | $35.9M | $32.7M | $33.3M |
| Deferred revenue | $2.0M | $2.8M | — | $2.2M | — | $2.4M | $2.4M | — | $7.6M | $1.7M | $7.1M | — |
| Total current liabilities | $105.7M | $103.3M | $103.3M | $104.2M | $104.2M | $86.6M | $86.6M | $86.6M | $95.7M | $95.7M | $57.7M | $57.7M |
| Long-term debt | $0 | $0 | $5.2M | $0 | $2.6M | $0 | $2.5M | $0 | $0 | $0 | $2.7M | $0 |
| Lease obligations | — | — | $58,488 | — | $587,271 | — | $779,620 | — | $1.1M | — | $2.4M | — |
| Other long-term liabilities | $18.2M | $17.5M | $12.3M | $14.9M | $12.3M | $14.7M | $12.1M | $14.7M | $15.0M | $15.0M | $14.5M | $17.1M |
| Total liabilities | $124.0M | $120.8M | $120.8M | $119.2M | $119.2M | $101.3M | $101.3M | $101.3M | $110.7M | $110.7M | $74.8M | $74.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $11,870 | $2,762 | — | $2,019 | — | $1,598 | $1,598 | $1,598 | $1,239 | $1,239 | $1,201 | $1,201 |
| Retained earnings (deficit) | −$239.6M | −$226.6M | −$226.6M | −$155.5M | −$155.5M | −$125.3M | −$125.3M | −$125.1M | −$126.3M | −$126.1M | −$110.8M | −$110.6M |
| Accumulated other comprehensive income | −$8.3M | −$4.1M | — | −$3.0M | — | −$2.6M | −$2.6M | −$2.8M | −$2.6M | −$2.8M | −$2.8M | −$3.0M |
| Minority interest | — | — | −$4.3M | — | −$3.9M | — | −$3.6M | — | — | — | — | — |
| Total shareholders' equity | −$113.5M | −$100.6M | −$100.6M | −$32.8M | −$32.8M | −$12.2M | −$12.2M | −$12.2M | −$19.5M | −$19.5M | −$4.9M | −$4.9M |
| Key figures | ||||||||||||
| Total debt | $45.5M | $46.8M | $5.2M | $48.9M | $2.6M | $45.9M | $45.9M | $53.3M | $35.7M | $43.6M | $36.9M | $45.3M |
| Net cash (debt) | −$41.9M | −$44.3M | −$2.8M | −$43.8M | $2.4M | −$45.0M | −$45.0M | −$52.5M | −$33.9M | −$41.8M | −$35.3M | −$43.7M |
| Working capital | −$99.9M | −$93.2M | −$91.4M | −$33.0M | −$30.5M | −$10.1M | −$10.1M | −$10.1M | −$34.3M | −$34.3M | −$19.6M | −$19.6M |
| Tangible book value | −$113.5M | −$100.7M | −$100.7M | −$33.0M | −$32.8M | −$12.3M | −$12.3M | −$12.3M | −$19.7M | −$19.7M | −$5.1M | −$5.1M |
| Book value per share | −$398.19 | — | — | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 285K | — | — | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.06 | 0.10 | 0.12 | 0.68 | 0.71 | 0.88 | 0.88 | 0.88 | 0.64 | 0.64 | 0.66 | 0.66 |
| Quick ratio | 0.04 | 0.06 | 0.08 | 0.67 | 0.54 | 0.79 | 0.79 | 0.65 | 0.58 | 0.51 | 0.56 | 0.52 |
| Equity / assets | −1,837.2% | −632.4% | −632.4% | −39.9% | −39.9% | −14.3% | −14.3% | −14.3% | −22.3% | −22.3% | −7.3% | −7.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 15, 2026); data from EODHD.
AIXI financial position
At the end of fiscal 2025 (December 31, 2025), Xiao-I had total assets of $15.9 million (down 81.4% from a year earlier), total liabilities of $120.8 million and shareholders' equity of -$100.6 million. It held $2.4 million in cash and short-term investments against $46.8 million of debt, net debt of $44.3 million. Its current ratio was 0.10. In the latest quarter (ended September 30, 2026) total assets were $6.2 million and equity -$113.5 million.
Related: AIXI income statement, AIXI cash flow statement, AIXI key metrics. See the AIXI stock overview for the latest quote and news.
AIXI balance sheet FAQ
What are Xiao-I's total assets?
Xiao-I reported total assets of $15.9 million at the end of fiscal 2025 (December 31, 2025), compared with $85.5 million a year earlier.
How much debt does Xiao-I have?
Xiao-I had $46.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Xiao-I have?
Xiao-I held $2.4 million in cash and short-term investments at the end of fiscal 2025; with $46.8 million of debt that is net debt of $44.3 million.
What is Xiao-I's book value?
Xiao-I's shareholders' equity (book value) was -$100.6 million at the end of fiscal 2025.
What is Xiao-I's current ratio?
Xiao-I had current assets of $10.1 million and current liabilities of $103.3 million, a current ratio of 0.10 (current liabilities exceed current assets).
How much goodwill does Xiao-I have?
Xiao-I carried $0.1 million of goodwill and intangible assets, 0.7% of total assets, at the end of fiscal 2025.