Company: CXAI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001829126-25-003841
Chunk: 48

Company: CXApp Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. Investors should exercise caution in comparing our non-GAAP measure to any similarly titled measure used by other companies.

This non-GAAP measure excludes certain items required by U.S. GAAP and should not be considered as an alternative to information reported in accordance with U.S. GAAP. The table below presents our adjusted EBITDA, reconciled to net income, which is the most comparable GAAP measure, for the periods indicated (in thousands).

    Three Months Ended March 31, 2025

    Three Months Ended March 31, 2024

    Net income (loss)
     
    $
    (1,616
    )
     
    $
    (5,170
    )
  
    Interest and other income

    31

    262

    Income tax (benefit)/provision

    -

    (207
    )
  
    Depreciation and amortization

    695

    705

    EBITDA

    (890
    )

    (4,410
    )
  
    Adjusted for:

    Changes in fair value of warrant liabilities

    (2,196
    )

    1,472

    Loss on debt extinguishment

    48

    -

    Unrealized losses

    4

    56

    Stock-based compensation - compensation and related benefits

    624

    601

    Adjusted EBITDA
     
    $
    (2,410
    )
     
    $
    (2,281
    )

We rely on Adjusted EBITDA, which is a non-GAAP financial measure for the following:

    ●
    To compare our current operating results with corresponding periods and with the operating results of other companies in our industry; 

    ●
    As a basis for allocating resources to various projects; 

    ●
    As a measure to evaluate potential economic outcomes of acquisitions, operational alternatives and strategic decisions; and 

    ●
    To evaluate internally the performance of our personnel. 

We have presented Adjusted EBITDA above because we believe it conveys useful information to investors regarding our operating results. We believe it provides an additional way for investors to view our operations, when considered with both our GAAP results and the reconciliation to net income (loss). By including this information, we can provide investors with a more complete understanding of our business