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SHANGHAI - Xiao'I Corporation (NASDAQ:AIXI), a provider of artificial intelligence solutions with a current market capitalization of $23.5 million, has pre-announced selected unaudited financial results for the year ended December 31, 2024. The company reported a revenue increase of 19% year-over-year, amounting to approximately $70.3 million, attributed to the growing adoption of its Hua Zang large language model and AI-powered consumer hardware sales. According to InvestingPro data, this growth comes despite the stock's challenging performance, having declined over 86% in the past year.
Gross margin improved to 69%, up from 67% the previous year, due to a higher-margin Model-as-a-Service (MaaS) mix and scale efficiencies. This aligns with InvestingPro's analysis highlighting the company's impressive gross profit margins, which stood at 61.27% in the last twelve months. Xiao'I also reported a narrowed net loss of $12.9 million, a 52% improvement compared to 2023, reflecting disciplined cost management and revenue growth. The positive operating income achieved in the fourth quarter of 2024 suggests a profitable trajectory as the company moves into 2025, with management now guiding towards full-year profitability - a projection supported by analyst forecasts tracked by InvestingPro.
In addition to its financial performance, Xiao'I is awaiting a ruling from the Shanghai High People's Court regarding its litigation against Apple Inc. for alleged patent infringement on voice-assistant technologies. A favorable judgment could provide additional non-operating income to Xiao'I's financial results for 2025, although no potential award has been factored into the current guidance.
The company's projections are based on the current state of its business and do not account for material non-cash impairments or similar losses. However, management acknowledges the macroeconomic volatility of 2025, including potential trade policy shifts and market demand fluctuations, which may necessitate adjustments to these expectations. InvestingPro's analysis suggests the stock is currently undervalued, though investors should note the company's weak overall financial health score of 1.42 out of 5. InvestingPro subscribers have access to 13 additional key insights about AIXI's financial position and market performance.
Xiao'I Corporation specializes in a range of business solutions and services in AI, including natural language processing, voice and image recognition, and machine learning. With the next earnings report due on April 25, 2025, and EPS forecasts of $1.61 for FY2024, investors will be watching closely to see if the company can maintain its momentum. The company's forward-looking statements in the press release are not guaranteed and are subject to risks and uncertainties that may cause actual results to differ materially from expectations.
This report is based on a press release statement from Xiao'I Corporation.
In other recent news, Xiao-I Corporation has announced its collaboration with TF International Securities Group Limited to integrate its Hua Zang Large Language Model into TF International's financial services. This partnership aims to enhance investment research and risk management by automating tasks and refining decision-making processes. The collaboration is seen as a significant step in Xiao-I's global expansion, leveraging its AI expertise to improve operational efficiency in the financial sector. Additionally, Xiao-I has launched the tAIkbox 1 in the U.S., an AI-powered device designed to enhance customer service by offering intuitive interactions that rival human representatives. This device aims to address common frustrations with automated systems by understanding natural speech and anticipating user needs. The tAIkbox 1 is targeted at high-impact industries such as hospitality and healthcare, promising a seamless integration into existing systems. Xiao-I's continued focus on AI-driven solutions reflects its commitment to transforming both financial services and customer service landscapes.
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