CXApp Reports Record ARR Growth and Rebranding to CXAI (“Sky”)

April 17, 2024

DENVER, Colo., Apr 17, 2024 (247marketnews.com)- CXApp Inc. (NASDAQ:CXAI) reported record Annual Recurring Revenue (ARR) growth in the fourth quarter of 2023 and 24% ARR growth for the full year 2023, tied to two large Fortune 1000 logo wins in Q4 that are slated for deployment in the summer of 2024.

CXAI also stated that it’s rebranding to CXAI, pronounced “Sky”, representing a shift towards an AI-centric approach in workplace innovation.

Khurram Sheikh, Chairman and CEO of CXAI, stated, “As we transform into CXAI, we go beyond digitizing the places of work. Our partnership with Google Cloud empowers us to create environments that are customized, optimized, and geared towards fostering happier, healthier, and more engaged employees. This isn’t just a change in name; it’s our platform to creating human-centric workplace experiences that prioritize well-being through smart, personalized experiences.”

Sheikh concluded, “We are excited about our accomplishments in 2023 as we re-transformed the Company to a SaaS recurring model with amazing growth, great customers and a talented technology team. We are super-excited about the future as we expand with these clients as well as our recently announced partnership with Google Cloud to scale the CXAI platform. We are mission-focused on defining a new category in enterprise software: Employee Experiences. We have an amazing customer base diversified globally and across all major sectors ready for massive scale-up with our next generation CXAI platform.”

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