CXApp Inc. Reports Strong Q3 2024 Results and Launches AI-Driven Employee Experience Solutions on AWS Marketplace

CXApp Reports Strong Q3 2024 Financial Results

CXApp Inc. (NASDAQ: CXAI), a leader in employee workplace experiences, has announced its Q3 2024 financial results, marking its highest quarterly SaaS metrics to date. The company reported an 18% increase in recurring revenue, a net retention rate (NRR) of 106%, and 88% of revenue from subscriptions, resulting in the highest recognized revenue of $1.5 million for the quarter with an 80% gross margin 1

1

Khurram Sheikh, Founder, Chairman, and CEO of CXApp, expressed confidence in the company's performance, stating, "CXApp continues on its business transformation journey to an AI-native SaaS model with continued positive trending of key SaaS metrics" 1

1

Launch of AI-Driven Solutions on AWS Marketplace

In a significant move to expand its market reach, CXApp has announced the availability of its flagship product, CXAI, and its generative AI-based analytics platform, CXAI VU, on AWS Marketplace. This strategic placement allows customers to easily find, buy, and deploy CXApp's software solutions 2

2

The CXAI platform represents a shift towards an AI-centric approach in workplace innovation, seamlessly integrating customer experience (CX) with artificial intelligence (AI) to transform the way work happens. CXAI VU offers generative AI-based analytics, enabling organizations to analyze large data sets, generate actionable insights, and make real-time decisions 2

2

Key Benefits and Features

CXApp's AI-driven solutions offer several benefits to businesses:

1. Automated and personalized employee interactions at scale
2. Improved employee engagement and productivity
3. Reduced operational costs
4. Enhanced collaboration
5. Real-time decision-making capabilities 2

   2

Related Stories

CXApp Inc. Reports Strong Q2 2025 Results, Showcasing AI-Driven Workplace Transformation

Tech Companies Augmedix and CXApp Report Significant Growth and Partnerships

CXApp Stock Soars on Multi-Million Dollar Google Cloud Deal

Healthcare AI Market Poised for Explosive Growth as New Technologies Emerge

Financial Performance Highlights

Joy Mbanugo, Chief Financial Officer of CXApp, highlighted the company's strong financial performance:

• 7% increase in revenue year-over-year and quarter-over-quarter
• 88% of revenue derived from subscriptions
• 18% year-over-year increase in subscription revenue
• 22% decrease in non-GAAP operating expenses year-over-year
• Improvement in Net Retention Rate from 91% to 106% year-over-year 1

  1

Future Outlook and AI Focus

CXApp's leadership emphasized the company's commitment to AI innovation and its potential impact on the workplace. Khurram Sheikh stated, "AI is transformative to the workplace and with our CXAI platform we are leading the industry with a disruptive offering" 1

1

The company is leveraging cutting-edge AI technology to enhance productivity, engagement, and efficiency in the enterprise. New generative AI capabilities allow for the automation of complex workflows and the provision of intelligent solutions that drive measurable outcomes 1

1

As CXApp continues to strengthen its position in the AI-driven employee experience market, it invites stakeholders, potential clients, and the media to stay updated on its progress and upcoming events through its website and email list 1

1

2