Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 71

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 71
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 fair value of derivative liability |     |           |       (3,152 | ) |     |           |             (4,714 | ) |     |             |                   - |   |     |                   |       (4,714 | ) |     |              |   1,562 |   |     |     |      33 | %  |
| Loss on debt extinguishment                  |     |           |       (1,052 | ) |     |           |                  - |   |     |             |                   - |   |     |                   |            - |   |     |              |  (1,052 | ) |     |     |       - | %  |
| Other income (expense)                       |     |           |         (342 | ) |     |           |                 47 |   |     |             |                   - |   |     |                   |           47 |   |     |              |    (389 | ) |     |     |    (828 | )% |
| Net loss                                     |     | $         |      (19,408 | ) |     | $         |            (49,238 | ) |     | $           |              (4,380 | ) |     | $                 |      (53,618 | ) |     | $            |  34,210 |   |     |     |      64 | %  |

| * | Amounts used to calculate dollar and percentage changes are based on numbers in the thousands. Accordingly, calculations in this item, which may be rounded to the nearest hundred thousand, may not produce the same results. |

Revenues

The Company derives revenue from software-as-a-service (SaaS), design, deployment, and implementation services for its enterprise apps business. There is a pass through of $142 thousand for beacons that are deployed at our customer’s sites. Revenue for the year ended December 31, 2024, was $7,142 thousand, compared to non-GAAP combined revenue of $7,366 thousand for the year ended December 31, 2023, reflecting a decrease of approximately $225 thousand, or 3%. This decline was primarily driven by a reduction in Professional Services revenue, which includes integration work and other customer-requested services. As 87% of our recognized revenue now comes from recurring subscription revenue, the decrease reflects the Company’s strategic shift towards a full SaaS model, reducing reliance on one-time professional fees to prioritize scalable, recurring revenue