Company: CXAI
Filing Date: 2025-05-23
Form Type: 424B3
Source: 0001829126-25-003922
Chunk: 26

Company: CXApp Inc.
Filing Date: 2025-05-23
Form: 424B3
Chunk 26
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existing conversion privileges. The ASU is effective for all entities in annual and interim reporting periods in fiscal years beginning after December 15, 2025. Early adoption permitted for entities that have adopted the amendments in Update 2020-06. The amendments may be applied either (1) prospectively to any settlements of convertible debt instruments that occur after the effective date of this ASU or (2) retrospectively to all prior periods that occurred after the adoption of the amendments in Update 2020-06. We are currently evaluating the impact of this standard on our consolidated financial statements.

NOTE 3 – Disaggregation of Revenue

The Company recognizes revenue when control is transferred of the promised products or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services. The Company derives revenue from software as a service, design and implementation services for its enterprise apps solutions systems, professional services for work performed in conjunction with its systems, and sale of hardware.

Revenues consisted of the following (in thousands):

| Schedule of disaggregation of revenue |     |   | Three Months Ended March 31, 
                         2025 |     |   | Three Months Ended March 31, 
                         2024 |
|:--------------------------------------|:----|:--|-----------------------------:|:----|:--|-----------------------------:|
| Subscription revenue                  |     |   |                              |     |   |                              |
| Software                              |     | $ |                            - |     | $ |                        1,588 |
| License & Maintenance Contracts       |     |   |                        1,211 |     |   |                            - |
| Total subscription revenue            |     | $ |                        1,211 |     | $ |                         1588 |
| Non-subscription revenue              |     |   |                              |     |   |                              |
| Professional services                 |     | $ |                           13 |     | $ |                          230 |
| Total non-subscription revenue        |     | $ |                           13 |     | $ |                          230 |
| Total Revenue                         |     | $ |                        1,224 |     | $ |                        1,818 |

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|                            |     |   | Three Months Ended March 31, 
                         2025 |     |   | Three Months ended March 31, 
                         2024 |
|:---------------------------|:----|