Xiao-I Corporation (AIXI) raised substantial doubts about its ability to continue as a going concern in a recent regulatory filing.
Revenue for the first six months of 2026 fell to $1.04 million from $11.5 million in the same period of 2025.
As of June 30, 2026, the company had a working-capital deficit of $99.6 million. It held $3.45 million in cash and equivalents.
The company’s net loss narrowed to $13 million in the first half of 2026 from $30.4 million a year earlier. Management cited recurring operating losses, overdue borrowings and the need for additional financing as reasons for the going-concern warning.
The company also expects to liquidate its Shanghai Xiao-i subsidiary.