Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 923

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 7
Chunk 923
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References in this report (the “Annual Report”) to “we”, “us” or the “Company” refer to CXApp Inc. References to our “management” or our “management team” refer to our officers and directors. The following management’s discussion and analysis of financial condition and results of operations describes the principal factors affecting the results of our operations, financial condition, and changes in financial condition for the years ended December 31, 2024, and the period March 15, 2023 to December 2023.

Overview of Our Business

Executive Overview

At CXApp, we are redefining the modern workplace through AI-powered solutions that enhance employee experience, operational efficiency, and workplace intelligence. As a leader in this rapidly evolving market, our strategic vision is to drive innovation, scale our enterprise customer base, and achieve long-term financial sustainability through disciplined execution.

In fiscal year
2024, we focused on three key priorities:

    1.
    Expanding AI-Driven Capabilities – Creating a Generative AI based analytics platform designed to revolutionize the workplace environment, allowing organization to analyze large datasets, generate actionable insights and make real time decisions. 

    2.
    Strengthening Market Position “Land and Expand”– Growing our footprint in the Fortune 1000 and expanding offerings to existing clients. 

    3.
    Enhancing Financial Discipline – Driving cost efficiency while investing in strategic growth initiatives. 

As we look ahead, our leadership team remains committed to balancing innovation with financial discipline, ensuring CXApp is positioned for sustainable, profitable growth in the years to come.

Financial Performance Summary

Revenue Growth and Customer Expansion

    ●
    Fiscal year 2024 recurring revenue
    increased to 87% from 78%. 

    ●
    Our customer base continues to expand across key industries, including financial services, healthcare, and technology. 

    ●
    The transition to a recurring revenue model has strengthened revenue predictability and long-term growth prospects. 

Operational Efficiencies and Cost Management

    ●
    Total operating expenses decreased to $19,598 thousand compared to $58,204 during the year ended December 31, 2023, reflecting cost optimization initiatives that have improved margins.

    ●
    Strategic workforce realignments have ensured resources are allocated to high-impact growth areas. 

Cash Flow and Liquidity Position

    ●
    As of year-end, cash and cash equivalents was $4,880 thousand with access to an additional $3,500 thousand from