Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 739

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 5
Chunk 739
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 financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ Marcum llp

Marcum LLP

We have served as the Company’s auditor from 2012 through August 29, 2024.

New York, NY May 23, 2024

PCAOB ID Number 688

F-3

CXAPP INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in thousands, except share and per share data)

    December 31,2024

    December 31,2023

    Assets

    Current Assets

    Cash and cash equivalents
     
    $
    4,880

    $
    6,275

    Accounts receivable, net of allowance for credit losses of $0 and $2, respectively

    1,686

    1,956

    Unbilled and other receivables

    89

    211

    Prepaid expenses and other current assets

    425

    587

    Total current assets

    7,080

    9,029

    Property and equipment, net

    64

    115

    Intangible assets, net 

    15,404

    18,136

    Operating lease right-of-use asset, net

    465

    486

    Goodwill

    8,737

    8,737

    Other assets

    53

    78

    Total Assets
     
    $
    31,803

    $
    36,581

    Liabilities and Stockholders’ Equity

    Current Liabilities

    Accounts payable
     
    $
    509

    $
    975

    Accrued liabilities

    2,383

    1,452

    Deferred revenue

    2,683

    2,878

    W