Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 1648

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 15
Chunk 1648
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    )

    -

    (5,746
    )
  
    Revenue deferred

    4,816

    1,274

    -

    6,090

    Deferred Revenue - December 31, 2023
     
    $
    2,404

    $
    474

    $
    -

    $
    2,878

    F-26

    Predecessor

    License Agreement

    Professional Service Agreements

    Hardware

    Total

    Deferred Revenue - January 1, 2023
     
    $
    1,931

    $
    231

    $
    -

    $
    2,162

    Revenue recognized

    (1,204
    )

    (416
    )

    -

    (1,620
    )
  
    Revenue deferred

    1,421

    571

    -

    1,992

    Deferred Revenue - March 14, 2023
     
    $
    2,148

    $
    386

    $
    -

    $
    2,534

Deferred revenues were approximately $2,683 thousand and $2,878 thousand as of December 31, 2024, and December 31, 2023, respectively.

The fair value of the deferred revenue approximates the services to be rendered.

NOTE 8 – Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

    Schedule of accrued Liabilities

    December 31,2024

    December 31,2023

    Accrued expenses and reimbursements
     
    $
    1,690

    $
    858

    Accrued compensation and benefits

    382

    387

    Accrued bonus and commissions

    134

    108

    Accrued sales and other indirect taxes payable

    95

    12

    Accrued insurance premium and interest

    23

    -

    Accrued transaction costs

    13

    13

    Income Tax Payables

    46

    74

    Accrued liabilities
     
    $
    2,383

    $
    1,452

Financed Director & Officers Insurance

The Company entered into a Directors & Officers (“D&O”) insurance agreement with Oakwood D&O Insurance, effective on March 14,