CXApp Inc. Q1 FY2025 earnings call

• Company is headquartered in the San Francisco Bay Area with global presence; over 70% of team members are engineers, and staff in Silicon Valley focused on Agentic AI has doubled.
• CXAI platform is AI native with 3 pillars: CXAI Apps (multi-OS/multi-device), CXAI BTS (rule engine/content access), and CXAI VU (analytics platform).
• Q1 highlights: 3 large Fortune 500 expansion renewals, full suite deployment with a large financial customer, successful CXAI Kiosk deployment in Silicon Valley, CXAI Localization deployed with an entertainment customer, and Agentic AI in trials.

Subscription revenue increased from 87% in Q1 2024 to 99% in Q1 2025, indicating a shift towards recurring revenue. Gross margin improved to 88% due to cost discipline and partnerships like with Google Cloud. There were 3 large Fortune 500 expansion renewals, showing client adoption and platform stickiness.

Revenue decline was due to timing shift of renewals from Q1 to Q4. Focus is on recurring subscription revenue and ARR growth. Continued investment in R&D for Agentic AI to drive future growth.

Q: What is the current shares outstanding?

A: It's about $19.8 million as per the balance sheet.

Q: How much total debt is currently outstanding including the $4 million draw on April 8?

A: Approximately $10 million when including previous notes and warrants.

Q: Will you share who your clients are?

A: Some case studies are available, but client confidentiality is considered; most clients are listed on the company website.

Q: Expect revenue growth in 2025 versus 2024?

A: Focus is on ARR growth via recurring revenue, but no official guidance is provided at this time.

Q: Do the 3 large customer renewals include the 6 renewals mentioned in 2024?

A: No, these are new renewals in Q1, separate from 2024 renewals