Company: CXAI
Filing Date: 2025-11-12
Form Type: 424B3
Source: 0001829126-25-009079
Chunk: 20

Company: CXApp Inc.
Filing Date: 2025-11-12
Form: 424B3
Chunk 20
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For issued or modified warrants that meet all
of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the
time of issuance or modification. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants
are required to be recorded at their initial fair value on the date of issuance as a warrant liability and adjusted to the then fair
value in each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain on
the condensed consolidated statements of operations amounting to $0 and $3,576, for the three and nine months ended September 30, 2025,
respectively. Changes in the estimated fair value of the warrants are recognized as a non-cash loss on the condensed consolidated statements
of operations amounting to $1,052 thousand and $3,575 thousand for the three and nine months ended September 30, 2024, respectively.

The Company utilized the Public Warrant quoted market price as the fair value of the Warrants as of each relevant date.

<div align='center'>15</div>

Earnings Per Share

The Company computes basic and diluted earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share are similarly calculated with the inclusion of dilutive common stock equivalents. For the three and nine months ended September 30, 2025 and September 30, 2024, basic and dilutive net loss per common share were the same since the inclusion of common shares issuable pursuant to the exercise of options, warrants, and vesting of restricted units in the calculation of diluted net loss per common shares would have been anti-dilutive.

The following table summarizes the number of common shares and common share equivalents excluded from the calculation of diluted net loss per common share for the three and nine months ended September 30, 2025 and September 30, 2024.

| Schedule of anti-dilutive shares | (in thousands) |     | Three Months Ended 
      September 30, 
               2025 |     |     | Three Months Ended 
      September 30, 
               2024 |     |     | Nine Months Ended 
     September 30, 
              2025 |     |     | Nine Months Ended 
     September 30, 
              2024 |
|:---------------------------------|:---------------|:----|-------------------:|: