Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 152

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1
Chunk 152
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“Sky”), provides a comprehensive suite of tools designed to empower employees and enable organizations to create smarter workplaces.
The Company’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM allocates resources and
makes operating decisions based on consolidated net income.

The CODM does not evaluate
profitability below the level of the consolidated company. The Company uses net income (loss) as the primary measure of financial performance.
However, in evaluating operating results on a budget versus actual basis, the Company focuses on cash-based operating expenses as a more
cost of revenue, professional services, marketing, research and development, and other general and administrative expenses—to be
significant. In contrast, the Company does not place significant emphasis on stock-based compensation, amortization of intangibles, change
in fair value of warrant liabilities, loss on debt extinguishment, and other non-cash adjustments in its internal analysis of period-over-period
operating results.

The following table presents selected financial information with respect to the Company’s single operating segment:

    Schedule of segment Information

    Successor

    Predecessor

    (In thousands)
     
    Year ended December 31, 2024

    Period fromMarch 15, 2023 toDecember 31,2023

    Period fromJanuary 1, 2023 toMarch 14,2023

    Revenue – Licenses
     
    $
    6,202

    $
    4,560

    $
    1,204

    Revenue – Professional Services

    798

    1,186

    416

    Revenue – Hardware

    142

    -

    -

    Less:

    Cost of revenue

    1,285

    1,268

    483

    Research and development

    5,744

    5,309

    1,455

    Sales and marketing

    2,870

    3,242

    964

    General and administrative

    5,489

    4,294

    2,293

    Other noncash expenses(1)

    5,495

    39,841

    806

    Interest expense (income), net

    1,756

    (65
    )

    1

    Loss on warrant liabilities

    3,152

    4,714

    -

    Loss on debt extinguishment