Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 1217

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 9
Chunk 1217
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 inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company, or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the amount of relief sought or expected to be sought therein.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability and an estimate of the range of possible losses, if determinable and material, would be disclosed.

Loss contingencies considered remote are generally not disclosed, unless they involve guarantees, in which case the guarantees would be disclosed. There can be no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.

NOTE 20 – Supplementary Financial Information

Quarterly Financial Information (unaudited)—The quarterly results for the years ended December 31, 2024, and 2023 are summarized below (in thousands, except per share amounts):

     Schedule of supplementary financial information

    Successor

    2024
     
    FourthQuarter

    ThirdQuarter
(restated)

    SecondQuarter
(restated)

    FirstQuarter

    Year Ended December 31, 2024

    Net Revenue

    1,661

    1,897

    1,766

    1,818

    7,142

    Gross Profit

    1,428

    1,525

    1,413

    1,491

    5,857

    Net Loss

    (3,978
    )

    (5,004
    )

    (5,256
    )

    (5,170
    )

    (19,408
    )

    Basic and diluted weighted average shares outstanding, Class A common stock

    17,234,557

    15,699,685

    15,255,218

    15,254,389

    15,907,946

    Basic and diluted net loss per share, Class A common stock

    (0.23
    )

    (0.