Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 884

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 6
Chunk 884
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 is incomplete. During the measurement period, acquirer shall adjust the provisional amounts recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The Company continued to refine its inputs and estimates inherent in (i) the valuation of intangible assets, (ii) deferred income taxes, (iii) realization of tangible assets and (iv) the accuracy and completeness of liabilities through March 14, 2024, when the purchase price allocation was finalized.

CXApp Pro Forma Financial Information

The following pro forma financial information presents the consolidated balance sheet and results of operations of the Company for the year ended December 31, 2023, as if the acquisition had occurred as of the beginning of the first period presented (January 1, 2023). The pro forma information does not necessarily reflect the results of operations that would have occurred had the entities been a single company during those periods.

    F-22

CXAPP INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEETS

(in thousands)

    Schedule of proforma financial information

    As of December 31, 2023

    Assets

    Current assets
     
    $
    9,029

    Noncurrent assets

    27,552

    Total assets
     
    $
    36,581

    Liabilities

    Current liabilities
     
    $
    10,316

    Noncurrent liabilities

    867

    Total liabilities
     
    $
    11,183

    Stockholders’ equity
     
    $
    25,398

    Total stockholders’ equity
     
    $
    25,398

    Total liabilities and equity
     
    $
    36,581

CXAPP INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE INCOME (LOSS)

(in thousands)

    Year Ended December 31, 2023

    Revenues
     
    $
    7,366

    Net loss
     
    $
    (57,904
    )

    F-23

NOTE 4 – Disaggregation of Revenue

The Company recognizes revenue when control is transferred of the promised products or services to its customers, in an amount that reflects the consideration the Company