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Side-by-side financial comparison of Xiao-I Corp (AIXI) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.

Xiao-I Corp is the larger business by last-quarter revenue ($11.5M vs $11.1M, roughly 1.0× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -263.9%, a 480.5% gap on every dollar of revenue.

Xiao-i is a Chinese cognitive artificial intelligence enterprise founded in 2001.

NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.

AIXI vs NREF — Head-to-Head

Bigger by revenue
AIXI
AIXI
1.0× larger
AIXI
$11.5M
$11.1M
NREF
Higher net margin
NREF
NREF
480.5% more per $
NREF
216.6%
-263.9%
AIXI

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
AIXI
AIXI
NREF
NREF
Revenue
$11.5M
$11.1M
Net Profit
$-30.4M
$24.0M
Gross Margin
58.1%
Operating Margin
-254.9%
Net Margin
-263.9%
216.6%
Revenue YoY
-48.8%
Net Profit YoY
58.7%
EPS (diluted)
$0.47

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AIXI
AIXI
NREF
NREF
Q4 25
$11.1M
Q3 25
$12.5M
Q2 25
$11.5M
$12.1M
Q1 25
$11.5M
Q4 24
$21.7M
Q3 24
$12.5M
Q2 24
$33.0M
$6.7M
Q1 24
$-12.8M
Net Profit
AIXI
AIXI
NREF
NREF
Q4 25
$24.0M
Q3 25
$50.9M
Q2 25
$-30.4M
$22.3M
Q1 25
$26.0M
Q4 24
$15.2M
Q3 24
$23.3M
Q2 24
$-15.5M
$12.1M
Q1 24
$-14.6M
Gross Margin
AIXI
AIXI
NREF
NREF
Q4 25
Q3 25
Q2 25
58.1%
Q1 25
Q4 24
Q3 24
Q2 24
64.5%
Q1 24
Operating Margin
AIXI
AIXI
NREF
NREF
Q4 25
Q3 25
Q2 25
-254.9%
Q1 25
Q4 24
Q3 24
Q2 24
-45.0%
Q1 24
Net Margin
AIXI
AIXI
NREF
NREF
Q4 25
216.6%
Q3 25
407.0%
Q2 25
-263.9%
184.5%
Q1 25
225.6%
Q4 24
69.9%
Q3 24
186.4%
Q2 24
-47.2%
179.7%
Q1 24
114.3%
EPS (diluted)
AIXI
AIXI
NREF
NREF
Q4 25
$0.47
Q3 25
$1.14
Q2 25
$0.54
Q1 25
$0.70
Q4 24
$0.71
Q3 24
$0.74
Q2 24
$-0.64
$0.40
Q1 24
$-0.83

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AIXI
AIXI
NREF
NREF
Cash + ST InvestmentsLiquidity on hand
$5.0M
$31.1M
Total DebtLower is stronger
$771.2M
Stockholders' EquityBook value
$388.0M
Total Assets
$82.4M
$5.3B
Debt / EquityLower = less leverage
1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AIXI
AIXI
NREF
NREF
Q4 25
$31.1M
Q3 25
$17.9M
Q2 25
$5.0M
$9.1M
Q1 25
$19.2M
Q4 24
$3.9M
Q3 24
$34.7M
Q2 24
$1.8M
$4.3M
Q1 24
$13.5M
Total Debt
AIXI
AIXI
NREF
NREF
Q4 25
$771.2M
Q3 25
$720.9M
Q2 25
$815.6M
Q1 25
$831.5M
Q4 24
$799.3M
Q3 24
$815.5M
Q2 24
$861.0M
Q1 24
$843.3M
Stockholders' Equity
AIXI
AIXI
NREF
NREF
Q4 25
$388.0M
Q3 25
$375.4M
Q2 25
$348.2M
Q1 25
$343.7M
Q4 24
$336.5M
Q3 24
$335.8M
Q2 24
$327.5M
Q1 24
$327.1M
Total Assets
AIXI
AIXI
NREF
NREF
Q4 25
$5.3B
Q3 25
$5.3B
Q2 25
$82.4M
$5.4B
Q1 25
$5.4B
Q4 24
$5.4B
Q3 24
$5.7B
Q2 24
$87.6M
$6.6B
Q1 24
$7.1B
Debt / Equity
AIXI
AIXI
NREF
NREF
Q4 25
1.99×
Q3 25
1.92×
Q2 25
2.34×
Q1 25
2.42×
Q4 24
2.38×
Q3 24
2.43×
Q2 24
2.63×
Q1 24
2.58×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AIXI
AIXI
NREF
NREF
Operating Cash FlowLast quarter
$-2.3M
$-4.5M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
-0.19×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AIXI
AIXI
NREF
NREF
Q4 25
$-4.5M
Q3 25
$8.1M
Q2 25
$-2.3M
$3.3M
Q1 25
$16.0M
Q4 24
$4.4M
Q3 24
$14.7M
Q2 24
$-7.5M
Q1 24
$17.7M
Cash Conversion
AIXI
AIXI
NREF
NREF
Q4 25
-0.19×
Q3 25
0.16×
Q2 25
0.15×
Q1 25
0.62×
Q4 24
0.29×
Q3 24
0.63×
Q2 24
-0.62×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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