CXApp Inc. (Nasdaq: CXAI) Announces Record ARR Growth for Q4'23 & Full Year 2023

Strategic Rebranding to CXAI ("Sky")

First Deployment of CXAI Platform partnering with Google Cloud for Fortune 1000 Client slated for Summer 2024

PALO ALTO, CA / ACCESSWIRE / April 16, 2024 / CXApp Inc. (NASDAQ:CXAI), the global technology leader in employee workplace experiences announced record double digit Annual Recurring Revenue (ARR) growth in the fourth quarter of 2023 and 24% ARR growth for the full year 2023. This growth is tied to two large Fortune 1000 logo wins in Q4 that are slated for deployment in the summer of 2024 leveraging our state-of-the-art CXAI platform and in partnership with Google Cloud.

CXApp to CXAI

The Company is excited to announce its strategic rebranding to CXAI, pronounced "Sky." The rebranding to CXAI signifies more than a new name-it represents a shift towards an AI-centric approach in workplace innovation.

CXAI seamlessly integrates customer experience (CX) with artificial intelligence (AI) focused around the employee to deliver solutions that transform the way work happens, making workplaces more intuitive and efficient leading to happier and more engaged employees.

This change reflects the company's commitment to leveraging artificial intelligence (AI) to transform workplace experiences, a vision supported and accelerated by a new partnership with Google Cloud.

Khurram Sheikh, Chairman and CEO of CXAI, expressed enthusiasm about the company's evolution: "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."

CXAI offers a unique value proposition for both employers and employees. For employers, it offers a streamlined, integrated Work SuperApp that caters to the needs of a modern, mobile-first workforce, simplifying daily operations while amplifying efficiency and innovation. For employees, CXAI promises a workday transformation-envisaging a scenario where every tool, every task, and every interaction is tailored to individual preferences, facilitated by a single, user-friendly platform.