XIAO-I

Historical revenue relied in part on low‑margin cloud platform resale that management discontinued, and the 2025 collapse in cloud revenue from 40.9M dollars to 4.33M dollars underscores weak pricing power. Overall 2025 net revenue fell 82 percent to 12.3M dollars and gross profit to 5.48M dollars.

With commoditized conversational AI and generative AI alternatives proliferating in China, and with the core operating entity in bankruptcy, the company has virtually no latitude to raise prices without losing customers.