Company: CXAI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001829126-25-003841
Chunk: 23

Company: CXApp Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 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

    17

    Three Months Ended March 31, 2025

    Three Months ended March 31, 2024

    Revenue
    recognized over time(1)(2)
     
    $
    1,224

    $
    1,818

    $
    1,224

    $
    1,818

    (1)
    Professional services are also contracted on the fixed fee and time and materials basis. Fixed fees are paid monthly, in phases, or upon acceptance of deliverables. The Company has generally elected the practical expedient to recognize revenue for the right to invoice because the Company’s right to consideration corresponds directly with the value to the customer of the performance completed to date. 
  
    (2)
    Software As A Service Subscription Revenue’s performance obligation is satisfied evenly over the service period using a time-based measure because the Company is providing continuous access to its service and service is recognized over time. 

NOTE 4 – Property and Equipment, net

Property and equipment consisted of the following (in thousands):

    Schedule of property and equipment

    March 31,2025

    December 31,2024

    Computer and office equipment
     
    $
    182

    $
    177

    Furniture and fixtures

    11

    11

    Leasehold improvements

    4

    4

    Software

    -

    -

    Total

    197

    192

    Less: accumulated depreciation and amortization

    (140
    )

    (128
    )
  
    Total Property and Equipment, Net
     
    $
    57

    $
    64

Depreciation and amortization expense were approximately $12 thousand, and $22 thousand, for the three months ended March 31, 2025 and March 31