The company's financial position appears increasingly fragile, with cash reserves declining from $14.4 million in 2024Q4 to just $1.5 million by 2026Q1.
Gaxos.ai Inc. (GXAI) balance sheet — 5-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 |
|---|
| Total Current Assets | 11.89M | 12.6M | 16.83M | 3.64M | 680.18K | 2.08M |
| Cash & Short-Term Investments | 11.5M | 12.37M | 16.77M | 3.62M | 679.78K | 2.08M |
| Cash Only | 1.09M | 840.8K | 14.4M | 1.02M | 679.78K | 2.08M |
| Short-Term Investments | 10.41M | 11.53M | 2.37M | 2.59M | 0 | 0 |
| Accounts Receivable | 118.06K | 76.25K | 0 | 8 | 0 | 0 |
| Days Sales Outstanding | 5.01 | 14.4 | - | 11.41 | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 274.06K | 157.59K | 63.61K | 25.13K | 400 | 0 |
| Total Non-Current Assets | 5.57M | 821.73K | 195.41K | 53.41K | 261.25K | 37.5K |
| Property, Plant & Equipment | 65.71K | 103.39K | 70.37K | 0 | 0 | 0 |
| Fixed Asset Turnover | 92.57x | 18.70x | 0.06x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 628.53K | 718.33K | 125K | 52.61K | 58.65K | 0 |
| Long-Term Investments | 7.78M | 0 | 37 | 801 | 0 | 37.5K |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 202.6K | 0 |
| Total Assets | 17.46M | 13.42M | 17.02M | 3.7M | 941.43K | 2.12M |
| Asset Turnover | 0.39x | 0.14x | 0.00x | 0.00x | - | - |
| Asset Growth % | 91.14% | -21.16% | 360.63% | 292.59% | -55.5% | - |
| Total Current Liabilities | 1.13M | 680.59K | 401.51K | 270.04K | 255.69K | 8.74K |
| Accounts Payable | 326.01K | 270.11K | 338.79K | 215.88K | 245.01K | 6.25K |
| Days Payables Outstanding | 792.59 | 481.63 | - | - | 21.35K | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 761.85K | 130.05K | 1.13K | 0 | 0 | 0 |
| Other Current Liabilities | 437.02K | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 10.57x | 18.51x | 41.91x | 13.49x | 2.66x | 237.88x |
| Quick Ratio | 10.57x | 18.51x | 41.91x | 13.49x | 2.66x | 237.88x |
| Cash Conversion Cycle | -787.58 | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.13M | 680.59K | 401.51K | 270.04K | 255.69K | 8.74K |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -1.09M | -840.8K | -14.4M | -1.02M | -679.78K | -2.08M |
| Debt / Equity | 0.00x | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - |
| Net Debt / EBITDA | 0.16x | - | - | - | - | -33.91x |
| Interest Coverage | - | - | - | - | - | - |
| Total Equity | 16.34M | 12.74M | 16.62M | 3.43M | 685.73K | 2.11M |
| Equity Growth % | 90.12% | -23.35% | 385.21% | 399.6% | -67.45% | - |
| Book Value per Share | 1.57 | 1.80 | 9.35 | 3.47 | 0.68 | 2.81 |
| Total Shareholders' Equity | 17.29M | 13.13M | 16.63M | 3.43M | 685.73K | 2.11M |
| Common Stock | 1.07K | 712 | 692 | 99 | 1.04K | 1.04K |
| Retained Earnings | -14.63M | -12.7M | -8.8M | -5.38M | -1.43M | -12.26K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -297.75K | 26.98K | 11.69K | 95.78K | 0 | -37.5K |
| Minority Interest | -952.76K | -387.75K | -6.09K | 0 | 0 | 0 |
Quick answers to the most common questions about buying GXAI stock.
As of 2025, Gaxos.ai Inc. (GXAI) had total assets of $13.4M including $12.6M in current assets.
Gaxos.ai Inc. (GXAI) carries total debt of $0.0M, offset by $12.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Gaxos.ai Inc. (GXAI) has total shareholders' equity (book value) of $13.1M ($1.80 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Gaxos.ai Inc. (GXAI) reported a current ratio of 18.51x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent liquidity and dilution
Metrics are mathematically derived from official filings.
Erosion of Capital Base Accelerates
According to recent financial statements, GXAI's total assets have fluctuated significantly, dropping from $17.0 million in 2024Q4 to $15.8 million by 2026Q1, while the accumulated deficit has expanded to $14.9 million, signaling a persistent erosion of shareholder equity as the company attempts to scale its AI-gaming operations.
The trajectory of the balance sheet suggests that the company is consuming its capital base to fund ongoing development rather than building long-term value. Investors should monitor the widening gap between assets and the growing deficit, which implies that the current business model is not yet self-sustaining.
Cash Runway Remains Precariously Thin
Based on reported figures, GXAI's cash position declined from a peak of $14.4 million in 2024Q4 to $1.5 million in 2026Q1, representing a rapid depletion of liquidity that leaves the company with a limited buffer against its ongoing high-burn operating requirements.
While the current ratio appears high at 21.35, this metric is likely distorted by the company's specific asset composition and does not reflect the reality of its immediate cash needs. The rapid decline in cash reserves suggests that the company may face significant pressure to secure additional financing in the near term.
Equity Quality Diluted by Deficits
As indicated by the 2026Q1 balance sheet, GXAI's equity is heavily impacted by an accumulated deficit of $14.9 million, which has effectively offset the capital raised during earlier periods and highlights the company's reliance on external funding to maintain its operational existence.
The quality of equity appears strained, as the company has yet to demonstrate an ability to generate retained earnings. This reliance on external capital suggests that shareholders may face continued dilution as management seeks to bridge the gap between current operating losses and future profitability.
Intangible Assets Mask Operational Risk
Based on the provided data, GXAI carries $673.4K in goodwill as of 2026Q1, a figure that warrants investigation given the company's history of pivoting its business model and the inherent uncertainty surrounding the long-term value of its proprietary AI-gaming assets.
The presence of goodwill on the balance sheet may be misleading if the underlying assets fail to generate the expected returns. Investors should consider the risk of potential impairment charges, which could further weaken the company's equity position and exacerbate its already precarious financial standing.