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 Inc. (Nasdaq: CXAI) announced the rescheduling of its Q1 2024 Earnings Call, initially set for today, to Thursday, May 23rd at 3:00pm Pacific Time. The call will discuss the company's financial results for the first quarter of 2024, ended March 31, 2024, and provide updates on the CXAI platform designed to enhance employee experiences using artificial intelligence.
CEO Khurram Sheikh will lead the call and announce a new product launch with a major industry partner. The call can be accessed by dialing 888-506-0062 (U.S.) or 973-528-0011 (international), with the access code 541331. A webcast will be available on the company's website, with replay options until May 23, 2025, for the webcast and June 6, 2024, for the telephone replay.
CXApp (NASDAQ: CXAI) has announced a conference call scheduled for May 21, 2024, at 4:30 PM ET to discuss their Q1 2024 financial results, which ended on March 31, 2024. The call will be led by Chairman and CEO Khurram Sheikh and will also provide an update on the company's AI platform advancements. Interested parties can join the call via toll-free numbers or access a webcast on the CXApp website. A replay will be available until June 4, 2024, via telephone and until May 21, 2025, on the company’s website.
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