Welcome to our dedicated page for CXApp news (Ticker: CXAI), a resource for investors and traders seeking the latest updates and insights on CXApp stock.
CXApp Inc. (NASDAQ:CXAI) is revolutionizing the workplace experience for enterprise customers through its advanced Software as a Service (SaaS) platform. Headquartered in Palo Alto, California, CXApp is dedicated to enhancing digital customer experiences by leveraging cutting-edge artificial intelligence (AI) and customer experience (CX) technologies.
The company's platform is designed to manage a range of enterprise functions including customer briefings, meetings, events, and workplace experiences. With a focus on enhancing the 'work from anywhere' model, CXApp provides native mapping, analytics, on-device positioning (ODP), and application technologies that create a seamless and immersive experience for employees, partners, customers, and visitors.
Recent achievements include a strategic rebranding to CXAI, reflecting a deeper commitment to AI-centric workplace solutions. The newly launched CXAI VU analytics platform, developed in collaboration with Google Cloud, aims to revolutionize workplace efficiency and employee engagement by offering tailored analytics for various enterprise functions including HR, facilities, operations, and IT management.
Financially, CXAI has demonstrated strong growth with a record Annual Recurring Revenue (ARR) increase of 24% in 2023. The company's strategy of 'land & expand' has been a key driver, growing subscription revenues significantly. In Q1 2024, CXAI achieved a record Net Retention Rate (NRR) of 108%, primarily driven by renewals and expansions of large Fortune 1000 clients.
CXAI also emphasizes operational efficiency, having optimized its cost structure and achieved a net 56% reduction in operating expenses from Q4 2022 to Q4 2023. The company's robust subscription-based revenue model, accounting for 87% of total revenue in Q1 2024, has also contributed to attractive gross margins and financial stability.
The company frequently hosts conference calls to discuss financial results and updates on their state-of-the-art platform. They also invite stakeholders and potential clients to participate in webinars and demonstrations to understand how CXAI is setting new standards for workplace innovation.
As CXAI continues to grow and innovate, it remains committed to defining a new category in enterprise software focused on employee experiences, making workplaces more intuitive, efficient, and engaging.
CXApp (NASDAQ:CXAI) reported strong Q3 2024 results with record SaaS metrics, including an 18% increase in recurring revenue and 106% net retention rate. The company achieved its highest quarterly revenue of $1.9M with 80% gross margins, with 88% coming from subscriptions. Key milestones include the successful delivery of the AI-based CXAI pilot platform to a financial services customer and the launch of CXAI Kiosk and CXAI BTS. The company's flagship products, CXAI and CXAI VU, are now available on AWS Marketplace. Non-GAAP operating expenses decreased by 22% year-over-year, showing improved cost management.
CXApp Inc. (Nasdaq: CXAI) announced the availability of its AI-driven employee experience solutions, CXAI and CXAI VU, on AWS Marketplace. The platform integrates customer experience with AI to transform workplace operations, offering personalized employee interactions and generative AI-based analytics.
The solutions provide key benefits including improved employee satisfaction through personalized experiences, enhanced collaboration through automated hybrid workflows, and advanced analytics for real-time insights. The AWS Marketplace integration enables streamlined purchasing and consolidated billing, making deployment more efficient for businesses of all sizes.
CXApp Inc. (Nasdaq: CXAI), a global technology leader in employee workplace experiences, has announced a conference call scheduled for November 12, 2024, at 4:30 PM Eastern Time to discuss their Q3 2024 financial results and provide a business update. The call will be led by Chairman and CEO Khurram Sheikh and CFO Joy Mbanugo, featuring updates on their AI-native CXAI Platform. Participants can join via telephone or webcast, with options for both U.S. and international callers. The webcast replay will be available through November 12, 2025, while the telephone replay will be accessible until November 26, 2024.
CXApp Inc. (Nasdaq: CXAI), a leader in employee workplace experiences, has announced its 2024 Annual Meeting of Shareholders. The virtual-only meeting is scheduled for Thursday, August 29, 2024, at 12:00 PM Eastern Time. Shareholders can access the meeting at www.virtualshareholdermeeting.com/CXAI2024 starting at 11:45 AM ET using their control number.
Participants with a control number can ask questions and vote during the live meeting. Shareholders can also vote prior to the meeting at www.proxyvote.com. A replay of the meeting will be available on the company's website until August 29, 2025.
CXApp Inc. (Nasdaq: CXAI), a leader in employee workplace experiences, has appointed Joy Mbanugo as Chief Financial Officer. With over 22 years of financial leadership experience, Mbanugo brings expertise from roles at Google Cloud, BlackRock, and E&Y. Her most recent position was CFO at ServiceRocket, where she optimized EBITDA and drove growth. At Google Cloud, she played a important role in financial planning and system transformation.
Mbanugo will oversee CXAI's financial strategy and operations as the company expands globally. CEO Khurram Sheikh expressed enthusiasm about her joining the team, citing her extensive experience in financial management and strategic planning as valuable assets for CXAI's growth and development of AI-powered workplace solutions.
CXApp Inc. (Nasdaq: CXAI) announced its Q2 2024 financial results, marking significant progress in its transformation to an AI-native SaaS model. The company reported a 78% increase in renewal and expansion bookings compared to the same period last year, including its largest 'expansion' deal with a major financial sector customer. Key metrics improved, with subscription revenue reaching 85% of total revenue, gross margin increasing to 80%, and a net retention rate of 105%.
CXApp also announced a multi-year, multi-million dollar strategic agreement with Google Cloud for the development and delivery of advanced AI infrastructure, security, and application products. This partnership aims to enhance the CXAI platform, which integrates customer experience with AI to transform workplace efficiency and employee productivity.
CXApp Inc. (Nasdaq: CXAI), a leader in AI-powered employee workplace experiences, has announced its upcoming Q2 2024 financial results and business update conference call. The call is scheduled for August 12, 2024, at 4:30 PM Eastern Time. Led by Chairman and CEO Khurram Sheikh, the call will discuss financial results for the quarter ended June 30, 2024, and provide updates on the company's CXAI Platform.
Investors can access the call via telephone or webcast, with options for U.S. and international callers. A Q&A session will be available, allowing participants to submit questions prior to the call. A replay of the webcast will be accessible on the company's website until August 12, 2025, while a telephone replay will be available until August 26, 2024.
CXApp (Nasdaq: CXAI) filed its Q1 10Q on May 31st, 2024. This filing, delayed due to a prior business combination, shows the company is back on track with regulatory timelines. Key highlights include a record Net Retention Rate (NRR) of 108% for Q1'24, driven by renewals and expansions with seven large Fortune 1000 clients across five sectors. Subscription-based recurring revenue reached $1.58M, 87% of the total $1.818M revenue, marking the highest in the company's history. Gross margin improved to 82%. Operational cost structure optimization led to a 20% reduction in cash operating expenses from Q4'23 to Q1'24. The company continues to focus on AI-centric solutions to enhance workplace experiences.
CXApp (NASDAQ:CXAI) reported a record Net Retention Rate (NRR) of 108% in Q1 2024, largely due to renewals and expansions by seven Fortune 1000 clients across five sectors. The company also launched its AI-based Analytics Platform, CXAI VU, in collaboration with Google Cloud, aiming to transform workplace efficiency and employee engagement. Financially, CXApp achieved a gross margin of 82%, with subscription-based revenue comprising 87% of total revenue, marking a 6-point increase from the previous quarter. Additionally, operational costs were reduced by 20% compared to Q4 2023.
CXApp unveils its new AI-based analytics platform, CXAI VU ('SkyView'), in collaboration with Google Cloud. Launched on May 23, 2024, this platform aims to enhance workplace efficiency and employee engagement through advanced analytics. CXAI VU offers tailored solutions for HR, facilities, operations, and IT management, emphasizing space optimization, user engagement analytics, data-driven decision-making, and predictive analytics. The platform enables businesses to optimize environments, track app usage, and make data-driven decisions. CXApp's CEO, Khurram Sheikh, and CTO, Naresh Soni, highlight the potential of CXAI VU to revolutionize workplace experiences and promote a new category in enterprise software.
FAQ
What is the current stock price of CXApp (CXAI)?
What is the market cap of CXApp (CXAI)?
What does CXApp Inc. do?
What recent achievements has CXApp Inc. made?
What is the CXAI VU analytics platform?
How has CXApp Inc.'s financial performance been?
What is the 'land & expand' strategy?
What are the subscription-based revenue metrics for CXAI?
How has CXAI optimized its operational cost structure?
Who are CXApp Inc.’s customers?
How does CXApp Inc. enhance workplace experiences?
How can stakeholders stay updated on CXApp Inc.?
