CXApp Inc
NASDAQ:CXAI
CXApp Inc
CXApp, Inc. engages in the provision of workplace experience solutions. The company is headquartered in Palo Alto, California and currently employs 87 full-time employees. The company went IPO on 2020-12-17. The firm's CXApp platform offers a range of technology workplace experience solutions, including an enterprise employee application, indoor mapping, on-device positioning, augmented reality technologies and an AI-based analytics platform, targeting the emerging hybrid workplace market to provide experiences across people, places, and things. The Company, through its Workplace SuperApp, creates a connected workplace by reducing app overload, data fragmentation, and complex workflows and streamlines all capabilities. The company offers various features, such as desk booking, room booking, office mapping, indoor navigation, find a colleague, workplace analytics, internal communications, notifications and proximity messaging, amenities and reservations, event management, and meetings and enterprise briefing center (EBC).
CXApp, Inc. engages in the provision of workplace experience solutions. The company is headquartered in Palo Alto, California and currently employs 87 full-time employees. The company went IPO on 2020-12-17. The firm's CXApp platform offers a range of technology workplace experience solutions, including an enterprise employee application, indoor mapping, on-device positioning, augmented reality technologies and an AI-based analytics platform, targeting the emerging hybrid workplace market to provide experiences across people, places, and things. The Company, through its Workplace SuperApp, creates a connected workplace by reducing app overload, data fragmentation, and complex workflows and streamlines all capabilities. The company offers various features, such as desk booking, room booking, office mapping, indoor navigation, find a colleague, workplace analytics, internal communications, notifications and proximity messaging, amenities and reservations, event management, and meetings and enterprise briefing center (EBC).
Revenue: Q3 revenue was $1.1 million, down slightly from $1.2 million in Q2, due to lower hardware sales as the company shifts focus to software.
Recurring Revenue: Subscription revenue made up 99% of the total, up from 88% last year, highlighting the company’s SaaS transition.
Gross Margin: Gross margin rose to 89%, improving from 88% last year and 86% last quarter, driven by disciplined cloud cost management.
Profitability: EPS improved to negative $0.13 from negative $0.34 a year ago, and loss from operations narrowed to negative $3.8 million from negative $4.1 million in Q2.
Cost Control: Operating expenses decreased to $4.8 million, down 8% from Q2, reflecting efficient spending.
Cash Position: The company ended the quarter with $9 million in cash, stating this is sufficient for at least two years.
Product Innovation: Launched kiosk product and completed major deployments, including at 30 Rock, and announced a new partnership with Noro for immersive telepresence.
Customer Momentum: Renewed two large enterprise contracts and saw strong client engagement and adoption, with scaling plans for new products in Q1.
