Quarterly ResultMay 13, 2026, 04:37 PM
CXApp Q1 Net Loss Widens to $4.0M; Going Concern Doubt Raised
AI Summary
CXApp Inc. reported a significant widening of its net loss to $4.003 million for the first quarter of 2026, compared to a $1.616 million loss in the prior year. Revenues also decreased to $950 thousand from $1.224 million, and net cash used in operating activities more than doubled to $2.210 million. The company explicitly stated that its recurring losses and negative operating cash flows raise substantial doubt about its ability to continue as a going concern, although management has implemented mitigation plans and secured additional financing through a new Pre-Paid Purchase Agreement and an At-The-Market offering.
Key Highlights
- Net loss widened to $4.003 million for Q1 2026 from $1.616 million in Q1 2025.
- Revenues decreased to $950 thousand in Q1 2026 from $1.224 million in Q1 2025.
- Basic and diluted net loss per share increased to $(0.09) from $(0.08) year-over-year.
- Net cash used in operating activities increased to $2.210 million from $979 thousand YoY.
- Company's recurring losses and negative operating cash flows raise substantial doubt about its ability to continue as a going concern.
- Secured $990 thousand net proceeds from a new $40 million Pre-Paid Purchase Agreement.
- Received $2.464 million from an At-The-Market (ATM) offering, issuing 7,995,651 shares.
- Cash and cash equivalents increased to $12.342 million as of March 31, 2026.