CXApp Inc. Q4 FY2023 earnings call

• Rebranded from CXApp to CXAI, with a focus on putting the employee first. - Four pillars of the employee experience solution: AI experiential analytics, work SuperApp, spatial intelligence, and generative AI. - Transitioned from custom design services to a subscription-based SaaS platform. - Strategic partnership with Google Cloud, including co-investment in the CXAI platform, listing on Google marketplace, and joint go-to-market efforts. - 2024 initiatives include land and expand, product expansion with AI focus, analytics, and leveraging strategic partnerships.

For the fourth quarter, there was double-digit growth in annual recurring revenue (ARR) due to large wins. Subscription revenue is now 81% of total revenue, up from the 60s-70s% at the time of transaction. Gross margins remain strong at 80%. In 2023, overall ARR was up 24%, with a 80% increase in ARR for new bookings of the SuperApp product. Yearly subscription revenue mix increased from 65% to 78%. Key customer wins in Q4 included NBC Universal and a major financial services company.

• Confident in increasing ARR bookings from customer acquisition and focus on subscription for sustainable growth. - Committed to continuing to innovate the CXAI platform to deliver value to the expanded customer base. - Strategic partnerships, especially with Google Cloud, will be a cornerstone of growth in 2024, driving market expansion and deeper relationships with existing customers.

Q: Operator: Thank you. This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.

A: Operator: