CXApp Inc. reported a decline in financial performance for the first quarter of 2026, with total revenues of $950,000, down from $1.224 million in the same period last year. The decrease in revenue was primarily attributed to a reduction in professional services as the company shifts towards a subscription-based model, which now accounts for 98% of total revenue. Gross profit also fell to $790,000, resulting in a gross margin of 83%, compared to 88% in the prior year. The company incurred a net loss of $4.003 million, widening from a loss of $1.616 million in the first quarter of 2025.
In terms of operational changes, CXApp has focused on enhancing its AI-driven product offerings and expanding its customer base within high-value enterprise accounts, particularly in the financial services, healthcare, and technology sectors. The company has streamlined its operations, resulting in operating expenses of $4.914 million, which remained relatively stable compared to $4.819 million in the previous year. This reflects ongoing cost management efforts while supporting core business functions.
CXApp's customer base continues to grow, with a focus on enterprise clients, which has led to increased engagement metrics. The company reported a working capital surplus of approximately $7.981 million and cash and cash equivalents of $12.342 million as of March 31, 2026. This liquidity position is expected to support ongoing investments in product development and market expansion initiatives. The company also raised approximately $990,000 through a Securities Purchase Agreement with Avondale Capital, LLC, and generated $2.464 million from the issuance of common stock under its shelf registration statement.
Looking ahead, CXApp aims to leverage its AI-native capabilities to enhance workplace management solutions and expand its market share. The company is committed to balancing innovation with financial discipline, ensuring it is well-positioned for long-term growth. Management believes that the ongoing demand for hybrid workplace solutions will provide opportunities for continued momentum in its AI-enabled offerings, despite macroeconomic uncertainties. The company remains focused on optimizing resource allocation and enhancing profitability through strategic initiatives.
About CXApp Inc.
CXApp Inc. provides AI-powered employee experience solutions through a cloud-based SaaS platform, enhancing workplace engagement, productivity, and space utilization. Its offerings include real-time analytics, automation, and indoor location technologies for hybrid and flexible work environments. Serving global enterprises across industries, CXApp focuses on digital transformation, workplace optimization, and innovative workplace management to create engaging, efficient, and adaptable workspaces.
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