CXApp Inc. (NASDAQ:CXAI) Q4 2024 Earnings Call: Full Transcript Revealed

CXApp Inc. (NASDAQ: CXAI Q4 2024 Earnings Call Transcript from April 3, 2025

Operator: Hello everyone. We welcome you to the CXAI Fourth Quarter and Full Year 2024 Earnings Call. [Operator Instructions]. This call will be recorded for future reference. Now, I’ll hand over the discussion to our host, Khurram Sheikh, who is both the Chairman and Chief Executive Officer. Feel free to start whenever ready.

Khurram Sheikh: Thank you, operator. Joining me today is our Chief Financial Officer, Joy Mbanugo, and together we’re eager to discuss our financial performance for the entire year 2024. Additionally, we’ll offer insights into how we're advancing the workplace of tomorrow and enhancing employee experiences through our cutting-edge CXAI—pronounced 'Sky'—platform. You should each have received our recent earnings press release which was distributed earlier. As previously mentioned, although we’ve requested an extension for filing our 10-K, we aim to submit it well ahead of the required deadline. Further details can be accessed via our official site. www.cxapp.com or www.cxai.ai I will proceed with the disclaimer slides next. Feel free to review them at your convenience.

Dear shareholders, Agentic AI represents a significant shift in how employees interact with their work environment. This past year, 2024, marked substantial progress for us across all fronts—business operations as well as product development. At the heart of this advancement lies our CXAI platform, which focuses on enhancing customer experience through cutting-edge artificial intelligence solutions. Post-pandemic, these technologies have become essential tools for addressing key challenges such as returning to office protocols and boosting employee engagement. Our dedicated team successfully transitioned our products onto a unified codebase and optimized costs, leading to profitability within our CXAI 1.0 applications segment. We are now channeling resources into developing agentic AI capabilities—a move aimed at capitalizing on vast opportunities to redefine the entire landscape of employee experiences. To provide some perspective, let me outline where we stand currently compared to last year’s position.

Our headquarters remain in the San Francisco Bay Area, but we maintain technical outposts around the globe. This international footprint and variety of backgrounds provide us an advantage as we pioneer the future of work across all locations. At CXAI, over two-thirds of our workforce of seventy-five employees are engineers. Additionally, we've expanded our team in Silicon Valley specifically to develop Agentic AI solutions and uphold our technological and product supremacy. Recently, we welcomed Terry Blanchard as our new Senior Vice President of Engineering. With his deep background at companies like Apple, WhatsApp, and NVIDIA—where he spearheaded cutting-edge applications—and his innate drive to amplify exceptional user experiences at top-tier tech firms, Terry is ideally suited for this role at CXAI.

I am excited about collaborating with Terry and developing top-tier Agentic AI solutions aimed at enhancing transformative employee experiences. From the outset, we’ve held firm to the belief that employees should be central to this rapidly expanding multibillion-dollar marketplace focused on workplace experiences. This has led us to introduce a novel segment within software known as Employee Experiences. Our CXAI platform rests on an impressive foundation of 37 patent applications, out of which 17 have received approval. These significant intellectual assets underscore our role as both leaders in technology innovation and trailblazers in the sector. It’s worth noting that several major global brands who stand at the forefront of transforming their workforce environments count themselves among our clients. One notable advantage we possess is robust international security and regulatory compliance credentials.

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