$CXApp (CXAI.US)$ Q1 EARNINGS RECAP ▪️Record Net Retention R...
Q1 EARNINGS RECAP
▪️Record Net Retention Rate (NRR) of 108% in Q1 2024, largely due to renewals and expansions by seven Fortune 1000 clients across five sectors.
▪️The company also LAUNCHED its AI-based Analytics Platform, CXAI VU, in collaboration with GOOGLE CLOUD, aiming to transform workplace efficiency and employee engagement.
▪️Gross margin of 82%, with subscription-based revenue comprising 87% of total revenue, marking a 6-point increase from the previous quarter.
▪️Operational costs were reduced by 20% compared to Q4 2023.
▪️Positive trending of key SaaS metrics.
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