Business
CXApp Inc. (Nasdaq: CXAI) Reports Record Business Performance for 2024 and Momentum of Agentic AI based CXAI Platform
Transformation to an AI-centric Subscription Application Business Successful deployment of New Products CXAI Kiosk and CXAI VU PALO ALTO, CA / ACCESS Newswire / April 3, 2025 /CXApp Inc. (NASDAQ:CXAI), the global technology leader in employee workplace ...
About this update from Cxapp Inc.
[{"type":"text","content":"Transformation to an AI-centric Subscription Application Business","length":65,"tagName":"p"},{"type":"text","content":"Successful deployment of New Products CXAI Kiosk and CXAI VU","length":60,"tagName":"p"},{"type":"text","content":"PALO ALTO, CA / ACCESS Newswire / April 3, 2025 / CXApp Inc. (NASDAQ:CXAI), the global technology leader in employee workplace experiences announced its Q4 2024 and Annual 2024 financial results and update on its state-of-the-art technology platform CXAI ("Sky").","length":273,"tagName":"p"},{"type":"text","content":"Chairman and CEO Khurram Sheikh commented," Agentic AI is transformational to employee experiences and 2024 has been a transformational year for the Company on both the business and product side. The CXAI platform anchored on customer experience (CX) and artificial intelligence (AI) is the most advanced technology solution solving the biggest problems in our industry post the pandemic - the Return to Office (RTO) and Employee Engagement. Our team has completed the product transformation to a single code base and streamlined our cost structure resulting in a profitable CXAI 1.0 application business and now we are investing in Agentic AI for the massive opportunity to reshape the whole market for employee experiences".","length":736,"tagName":"p"},{"type":"text","content":"The annual financial metrics for the Company in 2024 demonstrated significant progress for the year driven by a major transformation of the business metrics towards a true subscription platform business:","length":203,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"ARR (Annual Recurring Revenue) Growth: Double Digit Growth in recurring revenue from 2023","length":89,"tagName":"p"}]},{"val":[{"type":"text","content":"Subscription to One time Revenue split: 87% in 2024 from 78%in 2023 - leading to more recurring revenue","length":103,"tagName":"p"}]},{"val":[{"type":"text","content":"Net Revenue Retention (NRR): 101% from 73%- higher recurring revenue retention","length":78,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross Margin (GM): 82% from 78%- more profitable revenue","length":56,"tagName":"p"}]},{"val":[{"type":"text","content":"Opex and EBITDA: 20% Reduction in Expenses and 30% increase in EBITDA","length":69,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,...