CXApp Inc-2025年季度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ CXAPP INC. TABLE OF CONTENTS Part I. FINANCIAL INFORMATION Part II. OTHER INFORMATION CXAPP INC. AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 –Organization, Nature of Business and Basis of Presentation CXApp Inc. and its subsidiaries (“CXApp” or the “Company”) is in the business of delivering intelligent enterprise workplaceexperiences. The CXApp SaaS platform is anchored on the intersection of customer experience (CX) and artificial intelligence (AI) The CXApp SaaS platform offers a suite of leading-edge technology workplace experience solutions including an enterprise employeeapplication, indoor mapping, on-device positioning, augmented reality technologies, generative AI applications and an AI-basedanalytics platform, targeting the emerging hybrid workplace market. CXApp creates a connected workplace by reducing app overload,data fragmentation, and complex workflows and streamlines all capabilities through The Workplace SuperApp. All features, services On September25, 2022, an Agreement and Plan of Merger (the “Merger Agreement”), was entered into by and among Inpixon, KINS,CXApp, and KINS Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of KINS (“Merger Sub”), pursuant towhich KINS acquired Inpixon’s enterprise apps business (including its workplace experience technologies, indoor mapping, eventsplatform, augmented reality and related business solutions) (“Legacy CXApp”) in exchange for the issuance of shares of KINS capital Unless the context otherwise requires, “we,” “us,” “our,” “CXApp” and the “Company” refer to CXApp Inc., a Delaware corporation,and its consolidated subsidiaries following the Business Combination (as defined below), which closed in March2023. Unless thecontext otherwise requires, references to “KINS” refer to KINS Technology Group Inc., a Delaware corporation (“KINS”), prior to the The Business Combination was accounted for using the acquisition method (as a forward merger) in accordance with ASC 805, withgoodwill and other identifiable intangible assets recorded in accordance with GAAP, as applicable. Under this method of accounting,the “Enterprise Apps Business” (formerly known as CXApp) is treated as the “acquired” company for financial reporting purposes. NOTE 2 –Summary of Significant Accounting Policies Liquidity As of March31, 2025, the Company had a working capital deficiency of approximately $4,017thousand and cash and cashequivalents of approximately $3,893thousand. For the three months ended March31, 2025, the Company incurred net loss ofapproximately $1,616thousand and used approximately $979thousand of cash for operating activities.During 2024, the Companysecured additional funding through convertible Pre-Paid Purchases under the equity line agreement, receiving net proceeds of $2,480 On March26, 2025, we entered into a Securities Purchase Agreement (“SPA”) with Avondale Capital, LLC (“Avondale”), pursuant towhich the Company may (i) issue and sell one or more pre-paid purchase agreements, in the form substantially similar to the exhibitattached thereto (each, a “Pre-Paid Purchase”), up to an aggregate purchase amount of $20,000 thousand (the “Commitment Amount”)for shares of our common stock, par value $0.0001 per share (the “Common Stock”), on the terms and subject to the limitations andconditions set forth in each Pre-Paid Purchase, (ii) issue and sell the initial Pre-Paid Purchase in the principal amount of $4,200 Under the Purchase Agreement, each Pre-Paid Purchase consists of a principal balance upon which Avondale, at its option, mayrequire the Company to issue shares of Common Stock (“Purchase Shares”), from time to time, in satisfaction of all or part of theoutstanding balance of such Pre-Paid Purchase. The Company will deliver these Purchase Shares at a per-share purchase price set forth The access to the $20,000 thousand is expected to provide sufficien