The following is a summary of the CXApp Inc. (CXAI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CXApp Inc. reported its best financial quarter ever in Q3 2024 with revenue of $1.9 million.

• The company has achieved a recurring revenue growth of 18%, maintaining a healthy gross margin of 80%.

• A significant revenue increase to $1.9 million from $1.77 million in Q3 2023, and net retention rate improved to 106%.

• Non-GAAP OpEx saw a 22% reduction, contributing to cash-based losses narrowing by 43%.

Business Progress:

• CXApp Inc. is moving towards an AI-native SaaS model, enhancing its platform with Agentic AI.

• Successfully delivered the first end-to-end AI-based Sky pilot platform to a leading financial service customer.

• Announced collaboration with Amazon Web Services, adding to existing partnerships with Google Cloud and Microsoft Azure.

• Introduced new offerings such as Skyview, which is now generally available, and Sky Kiosk, an advanced interactive digital signage.

Opportunities:

• CXApp Inc.'s AI-driven platform positions the company to capitalize on increasing demand for digital workplace solutions.

• Partnerships with major cloud providers like AWS, Google Cloud, and Microsoft Azure enhance scalability and security, vital for enterprise clientele.

• The company's extensive IP and advancements in AI technology drive competitive advantage in the growing workplace experience market.

Risks:

• As CXApp Inc. continues to innovate in AI and digital tools, operational disruptions such as technical failures or compliance issues could pose risks given the complexities of scaling AI technologies.

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