Company: CXAI
Filing Date: 2025-05-23
Form Type: 424B3
Source: 0001829126-25-003922
Chunk: 43

Company: CXApp Inc.
Filing Date: 2025-05-23
Form: 424B3
Chunk 43
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 |     | $      |  320 |   |     | $           | 148 |     | $            | -      |   |     | $     | 18,737 |   |
| Goodwill by geographic area                   |     | $             |  8,737 |   |     | $      |    - |   |     | $           |   - |     | $            | -      |   |     | $     |  8,737 |   |

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NOTE 17 – Leases

The Company has operating leases for administrative offices in Canada, the Philippines, and the United States. The Manila, Philippines office lease expires in May 2025, the Canada lease expires in May 2026, and the United States office lease expires in April 2026. The Company has no other operating or financing leases with terms greater than 12 months.

Lease expense for operating leases recorded on the balance sheet is based on the future minimum lease payments recognized on a straight-line basis over the term of the lease plus any variable lease costs. Operating lease expenses, inclusive of short-term and variable lease expenses, recognized in the Company’s unaudited condensed consolidated statement of operations for the three months ended March 31, 2025 and for the year ended March 31, 2024 was approximately $107 thousand, and $113 thousand, respectively.

Operating lease liabilities are based on the net present value of the remaining lease payments over the remaining lease term. In determining the present value of lease payments, the Company used its incremental borrowing rate based on the information available at the date of adoption of ASC 842 “Leases” (“ASC 842”). As of March 31, 2025, the weighted average remaining lease term is 0.8 years, and the weighted average discount rate used to determine the operating lease liabilities was 8.0%. As of December 31, 2024, the weighted average remaining lease term is 1.1 years, and the weighted average discount rate used to determine the operating lease liabilities was 8.0%.

| Schedule of operating leases       
 (In thousands)                     |     | Operating Leases |     |   |
|:-----------------------------------|:----|:-----------------|----:|:--|
| Year 2025                          |     | $                | 266 |   |
| Year 2026                          |     |                  | 126 |   |
| Total lease