Company: CXAI
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001829126-25-006142
Chunk: 28

Company: CXApp Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 28
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 months ended June 30, 2025, respectively. Depreciation and amortization expense were approximately $22 thousand and $44 thousand for the three and six months ended June 30, 2024, respectively.

NOTE 5 – Goodwill and Intangible Assets

The Company reviews goodwill for impairment on a reporting unit basis annually on November 30 (beginning with fiscal year 2024) and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The carrying amount of goodwill as of June 30, 2025 and December 31, 2024, was $8,737 thousand.

We first assess qualitative factors, such as macroeconomic conditions, changes in the business environment, and reporting unit-specific events, to determine whether it is more likely than not that the fair value of a reporting unit is less than it carrying amount. If we bypass the qualitative assessment or conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we perform a quantitative impairment test by comparing the fair value of the reporting unit with its carrying amount. For the quantitative test, we calculate the estimated fair value using a weighting of the income and market approaches.

The Company completed a qualitative goodwill impairment assessment as of June 30, 2025 and determined that no impairment was necessary. No goodwill impairment was recognized for the year ended December 31, 2024 based on the annual goodwill impairment evaluation as of November 30, 2024 for the year ended December 31, 2024.

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Intangible assets consisted of the following (in thousands):

| Schedule of intangible assets     |     | June 30, 2025 |     |        |        |     |                          |        |   |     |              |        |     | December 31, 2024 |        |     |              |        |   |     |              |        |
|:----------------------------------|:----|--------------:|:----|:-------|-------:|:----|:-------------------------|:-------|:--|:----|:-------------|-------:|:----|:------------------|-------:|:----|:-------------|:-------|:--|:----|:-------------|-------:|
|                                   |     |      Weighted 
       Average 
     Remaining 
   Useful Life 
       (Years) |     | Gross  
 Amount |        |     | Accumulated Am