Company: CXAI
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009077
Chunk: 29

Company: CXApp Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---

    $
    61

    $
    18

    $
    2,683

Deferred revenues were approximately $1,573 thousand and $2,683 thousand as of September 30, 2025 and December 31, 2024, respectively.

The fair value of the deferred revenue approximates
the services to be rendered. The Company expects to satisfy its remaining performance obligations for these license agreements and professional
services and recognize the deferred revenue over the next twelve months.

    22

NOTE 7 – Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

    Schedule of accrued liabilities

    September 30, 2025

    December 31, 2024

    Accrued expenses and reimbursements
     
    $
    1,507

    $
    1,690

    Accrued compensation and benefits

    520

    382

    Accrued insurance premium and interest

    96

    23

    Accrued bonus and commissions

    160

    134

    Accrued sales and other indirect taxes payable

    108

    95

    Income tax payables

    47

    46

    Accrued transaction costs

    13

    13

    Accrued liabilities
     
    $
    2,451

    $
    2,383

Financed Director & Officers Insurance

The Company entered into a Directors & Officers (“D&O”) insurance agreement with Oakwood D&O Insurance, effective March 14, 2025. The agreement states that the Company will pay a total of $310 thousand in premiums at an annual percentage rate of 9.25%. The first of ten separate monthly installment payments began on April 14, 2024. The Company made a down payment of $70 thousand on the policy. As of September 30, 2025 and December 31, 2024, the Company owed $96 thousand and $23 thousand, respectively, on the D&O insurance policy.

NOTE 8 – Promissory Note

Note payable consisted of the following (in thousands):

    Schedule of promissory note

    September 30, 2025

    December 31, 2024

    Principal amount
     
    $
    -

    $
    3,885

    Add: 

    Interest

    -

    372