Company: CXAI
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001829126-25-001566
Chunk: 33

Company: CXApp Inc.
Filing Date: 2025-03-07
Form: 424B3
Chunk 33
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, $64 thousand, $24 thousand, $52 thousand, and $19 thousand, for the three months ended September 30, 2024 (Successor), for the nine months ended September 30, 2024 (Successor), for the three months
ended September 30, 2023 (Successor), for the period from March 15, 2023 to September 30, 2023 (Successor), and the period from January 1, 2023
to March 14, 2023 (Predecessor), respectively.

NOTE 6 – Goodwill and Intangible Assets

The Company reviews goodwill and intangible
assets for impairment on a reporting unit basis on December 31 of each year and whenever events or changes in circumstances
indicate the carrying value of goodwill may not be recoverable. The Company noted that the carrying amount of Goodwill as of
September 30, 2024 and December 31, 2023 (Successor) was $8,737
thousand, which was entirely due to the business combination noted in Note 3.

Factors that may be considered a change in circumstances
indicating that the carrying value of our goodwill or amortizable intangible assets may not be recoverable include a decline in industry
and market considerations, technological advancements, and the Company’s financial performance.

We completed our annual goodwill impairment evaluation
as of December 31, 2023. As a result, the Company incurred an impairment loss of $36,056
thousand.

The Company determined that there was no impairment
present at the reporting date as of September 30, 2024 (Successor).

Intangible assets consisted of the following (in thousands):

| Schedule of intangible assets     |     | September 30, 2024 |     |        |        |     |                          |        |   |     |              |        |     | December 31, 2023 |        |     |              |        |   |     |              |        |
|:----------------------------------|:----|-------------------:|:----|:-------|-------:|:----|:-------------------------|:-------|:--|:----|:-------------|-------:|:----|:------------------|-------:|:----|:-------------|:-------|:--|:----|:-------------|-------:|
|                                   |     |           Weighted 
            Average 
          Remaining 
        Useful Life 
            (Years