Company: CXAI
Filing Date: 2025-05-23
Form Type: 424B3
Source: 0001829126-25-003922
Chunk: 27

Company: CXApp Inc.
Filing Date: 2025-05-23
Form: 424B3
Chunk 27
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:--|-----------------------------:|:----|:--|-----------------------------:|
| Revenue                    
 recognized over time(1)(2) |     | $ |                        1,224 |     | $ |                        1,818 |
|                            |     | $ |                        1,224 |     | $ |                        1,818 |

| (1) | Professional services are also contracted on the fixed fee and time and materials basis. Fixed fees are paid monthly, in phases, or upon acceptance of deliverables. The Company has generally elected the practical expedient to recognize revenue for the right to invoice because the Company’s right to consideration corresponds directly with the value to the customer of the performance completed to date. |
| (2) | Software As A Service Subscription Revenue’s performance obligation is satisfied evenly over the service period using a time-based measure because the Company is providing continuous access to its service and service is recognized over time.                                                                                                                                                                   |

NOTE 4 – Property and Equipment, net

Property and equipment consisted of the following (in thousands):

| Schedule of property and equipment              |     |   | March 31, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:------------------------------------------------|:----|:--|----------:|:--|:----|:--|-------------:|:--|
| Computer and office equipment                   |     | $ |       182 |   |     | $ |          177 |   |
| Furniture and fixtures                          |     |   |        11 |   |     |   |           11 |   |
| Leasehold improvements                          |     |   |         4 |   |     |   |            4 |   |
| Software                                        |     |   |         - |   |     |   |            - |   |
| Total                                           |     |   |       197 |   |     |   |          192 |   |
| Less: accumulated depreciation and amortization |     |   |      (140 | ) |     |   |         (128 | ) |
| Total Property and Equipment, Net               |     | $ |        57 |   |     | $ |           64 |   |

Depreciation and amortization expense were approximately $12 thousand, and $22 thousand, for the three months ended March 31, 2025 and March 31, 2024 respectively.

NOTE 5 – Goodwill