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

Company: CXApp Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 Total

    Deferred Revenue – January 1, 2024
     
    $
    2,404

    $
    474

    $
    -

    $
    2,878

    Revenue recognized

    (6,202
    )

    (798
    )

    (142
    )

    (7,142
    )
  
    Revenue deferred

    6,402

    385

    160

    6,947

    Deferred Revenue – December 31, 2024
     
    $
    2,604

    $
    61

    $
    18

    $
    2,683

    19

Deferred revenues was approximately $2,804 thousand and $2,683 thousand as of March 31, 2025 and December 31, 2024 respectively.

The fair value of the deferred revenue approximates the services to be rendered.

NOTE 7 – Accrued Liabilities

Accrued liabilities consisted of the following for the three months ended March 31, 2025 and year ended December 31, 2025(in thousands):

    Schedule of accrued Liabilities

    March 31, 2025

    December 31, 2024

    Accrued expenses and reimbursements
     
    $
    1,773

    $
    1,690

    Accrued compensation and benefits

    349

    382

    Accrued bonus and commissions

    271

    134

    Accrued sales and other indirect taxes payable

    93

    95

    Accrued insurance premium and interest

    -

    23

    Accrued transaction costs

    13

    13

    Income Tax Payables

    46

    46

    D&O Loan Payable

    241

    -

    Accrued liabilities
     
    $
    2,786

    $
    2,383

Financed Director & Officers Insurance

The Company entered into a Directors & Officers (“D&O”) insurance agreement with Oakwood D&O Insurance, effective on March 14, 2024. The agreement states that the Company will pay a total of $310 thousand in premiums at an annual percentage rate of 9.5%. The first of ten monthly separate installment payments begin on April 14, 2024. The Company paid a down