Cxapp Inc. ( (CXAI) ) has released its Q4 earnings. Here is a breakdown of the information Cxapp Inc. presented to its investors.
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CXApp Inc., a global leader in employee workplace experiences, operates in the technology sector, focusing on the intersection of customer experience and artificial intelligence to enhance workplace interactions.
In its latest earnings report, CXApp Inc. announced record business performance for 2024, highlighting the successful transformation to an AI-centric subscription application business. The company introduced new products, CXAI Kiosk and CXAI VU, which have contributed to its growth and innovation in employee engagement solutions.
Key financial metrics for 2024 include double-digit growth in annual recurring revenue, an increase in subscription revenue to 87%, and a net revenue retention rate of 101%. The company also reported a gross margin improvement to 82% and a 30% increase in EBITDA, reflecting the effectiveness of its shift to a subscription-based model. Strategic deployments, such as the CXAI 2.0 platform and partnerships with major clients, have further solidified its market position.
Looking ahead, CXApp Inc. is poised for continued growth in 2025, with plans to expand its product offerings and client base. The company remains committed to leveraging cutting-edge AI technology to enhance productivity and engagement, aiming to maintain its leadership in the evolving market of employee experiences.