Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 1210

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 9
Chunk 1210
---
ive stock options

    -
    %

    -
    %

    (0.30
    )%
  
    Change in fair value of derivative warrant liabilities

    (3.52
    )%

    (2.18
    )% 

    -
    %
  
    Goodwill impairment loss

    -
    %

    (14.34
    )%

    -
    %
  
    US-Foreign income tax rate difference

    %

    -
    %

    1.30
    %
  
    Permanent difference

    (2.04
    )%

    0.22
    %

    0.07
    %
  
    Cancellation of debt income

    %

    -
    %

    (101.38
    )%
  
    Rate differential on foreign earnings

    0.44
    %

    0.24
    %

    -
    %
  
    State taxes, net of federal tax benefit

    (0.24
    )%

    0.93
    %

    3.49
    %
  
    Current federal tax true-up

    (1.27
    )%

    0.01
    %

    -
    %
  
    Provision to return adjustments

    %

    -
    %

    -
    %
  
    Deferred only adjustment

    %

    -
    %

    4.80
    %
  
    Other

    %

    -
    %

    (0.35
    )%
  
    Valuation allowance

    (11.20
    )%

    0.88
    %

    71.31
    %
  
    Income tax provision

    3.17
    %

    6.76
    %

    -
    %

The Company files income tax returns in the U.S. federal jurisdiction in various state and local jurisdictions as well as in foreign jurisdictions and is subject to examination by the various taxing authorities.

The Company recorded an income tax benefit/expense of approximately $637 thousand for the year ended December 31, 2024 (Successor).

The effective tax rate for the year ended December 31, 2024 (Successor) was 3.17%. The income tax benefit for the year ended December 31, 2024 (Successor) is a result of the reversal of deferred tax liability attributable to acquired intangible assets from the Business Combination. The company believes that positive evidence does not outweighs the negative evidence and thus it is more