Xiao-i vs Mindforge
Mindforge is the larger business, with $14.9m of revenue in fiscal 2026 against $12.3m for Xiao-i (1.2 times as much). Xiao-i grew faster (17054.9% against -49.9%). Mindforge kept more of each dollar of sales as profit: a net margin of -222.9% against -821.1%.
| Latest fiscal year | Xiao-iAIXI, 2025 | MindforgeMF, 2026 |
|---|---|---|
| Revenue | $12.3m | $14.9m |
| Revenue growth | 17054.9% | -49.9% |
| Net income | −$101m | −$33.1m |
| Operating margin | -783.6% | -98.2% |
| Net margin | -821.1% | -222.9% |
| Return on equity | — | -167.2% |
| Free cash flow | −$3.7m | −$2.2m |
| Cash | $2.3m | $12.3m |
| Total debt | $32.6m | $0 |
| Debt to equity | — | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $55.3m | $65.4m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |