Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 496

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 3
Chunk 496
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We have audited the accompanying consolidated
balance sheets of CXApp Inc. and Subsidiaries (the “Company”) as of December 31, 2024 and 2023, and the related consolidated
statements of operations and comprehensive income (loss), consolidated statements of stockholders’ equity, and consolidated statements
of cash flows for the year ended December 31, 2024 and the period from March 15, 2023 to December 31, 2023, and the related notes
(collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements
present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its
operations and its cash flows for the year ended December 31, 2024 and the period from March 15, 2023 to December 31, 2023 in conformity
with accounting principles generally accepted in the United States of America.

We have also audited the adjustments to the consolidated
financial statements for the period from January 1, 2023 to March 14, 2023, to retrospectively adjust the disclosures and apply the
change in accounting for the adoption of ASU 2023-07 in 2024, as discussed in Notes 2 and 16 to the consolidated financial statements.
In our opinion, such retrospective adjustments are appropriate and have been properly applied. However, we were not engaged to audit,
review, or apply any procedures to the consolidated financial statements of the Company for the period from January 1, 2023 to March 14,
2023, other than with respect to these retrospective adjustments and, accordingly, we do not express an opinion or any other form of assurance
on the consolidated financial statements for the period from January 1, 2023 to March 14, 2023, taken as a whole.

Emphasis of a Matter ― Restatement of
Unaudited Interim Financial Statements

As discussed in Note 21 to the consolidated financial
statements, the unaudited interim financial statements as of and for the three and six months ended June 30, 2024 and the three and nine
months ended September 30, 2024 have been restated to correct certain misstatements.

Basis for Opinion

These consolidated financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements