Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 70

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 70
---
 year,the Company added resources dedicated to developing the Artificial Intelligence (AI) based Augmented Reality (AR), AI based analytics and our CXAI Agentic AI offerings on the CXAI platform. Management believes that this investment in research and development will maintain a competitive position and create opportunities for the Company.

<div align='center'>51</div>

<div align='center'>RESULTS OF OPERATIONS</div>

Year Ended December 31, 2024, compared to the Year Ended December 31, 2023

For the purposes of the analysis of the results presented herein, the Company is presenting the combined results of operations for the period March 15, 2023, to December 31, 2023, of the Successor Company with the period January 1, 2023 to March 14, 2023 of the Predecessor Company. Although this presentation is not in accordance with generally accepted accounting principles in the United States, the Company believes presenting and analyzing the combined results allows for a more meaningful comparison of results for the year ended December 31, 2024, to the full twelve-month period ended December 31, 2023. The following selected data from our audited consolidated statements of operations and other supplementary data should be referred to while reading the results of operations discussion that follows (in thousands):

|                                              |     | Successor |   Year Ended 
 December 31, 
         2024 |   |     | Successor |        Period from 
 March 15, 2023, to 
       December 31, 
               2023 |   |     | Predecessor |         Period from 
 January 1, 2023, to 
           March 14, 
                2023 |   |     | Non-GAAP Combined |   Year Ended 
 December 31, 
         2023 |   |     | Non-GAAP     
 2024 vs 2023 
 Changes      |       $ 
  Change |   |     |     |       % 
 Change* |    |
|:---------------------------------------------|:----|:----------|-------------:|:--|:----|:----------|-------------------:|:--|:----|:------------|--------------------:|:--|:----|:------------------|-------------:|:--|:----|:-------------|--------:|:--|:----|:----|--------:|:---|
| Revenues                                     |     | $         |        7,142 |