CXApp Warrant (CXAIW) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CXAIW SEC filings page.
CXApp Inc. Warrant (CXAIW) reported $4.6M in revenue for fiscal year 2025, down 35.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue contracted sharply, but operating costs stayed high, leaving the company reliant on financing while losses deepened.
In FY2025, revenue fell35.8% while gross margin expanded by5.4 percentage points ; because SG&A barely declined and R&D increased, the worsening operating margin reflects an inflexible cost structure rather than weak gross economics alone. Margin expansion did not translate into operating improvement because the expense base remained larger than the reduced revenue stream.
The cash profile mirrors the accounting loss: FY2025 operating cash flow was an outflow of
The current ratio improved from 0.6x to 2.2x, so short-term coverage strengthened, but that did not mean the balance sheet became less dependent on outside funding. Total liabilities rose
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of CXApp Inc. Warrant's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
CXApp Inc. Warrant held $11.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $10.4M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and CXApp Inc. Warrant scores 37/100 among other emerging companies.
CXApp Inc. Warrant had 57M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and CXApp Inc. Warrant scores 7/100 among other emerging companies.
CXApp Inc. Warrant spent $6.6M on research and development in fiscal year 2025, which was 29.9% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and CXApp Inc. Warrant scores 62/100 among other emerging companies.
CXApp Inc. Warrant reported revenue of $4.6M in fiscal year 2025, against $7.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and CXApp Inc. Warrant scores 11/100 among other emerging companies.
Not available for CXApp Inc. Warrant, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
CXApp Inc. Warrant's cash, cash equivalents and investments came to $11.1M at the end of fiscal year 2025, against $18.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and CXApp Inc. Warrant scores 48/100 among other emerging companies.
CXApp Inc. Warrant passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
CXApp Inc. Warrant reported a net loss of $13.5M while operations used $10.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
CXApp Inc. Warrant reported an operating loss of $17.6M against $2K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
CXApp Inc. Warrant generated $3.0M in revenue in Q3 2026. This represents an increase of 169.7% from the same quarter a year earlier. Against the prior quarter it is up 77.4%.
CXApp Inc. Warrant's EBITDA was -$3.2M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
CXApp Inc. Warrant reported a net loss of $3.2M in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Cash & Balance Sheet
CXApp Inc. Warrant recorded an outflow of $2.7M in free cash flow in Q3 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
CXApp Inc. Warrant held $9.0M in cash as of Q3 2026; no long-term debt figure is on record for that period.
Not reported for Q3 2026.
Margins & Returns
CXApp Inc. Warrant's gross margin was 53.9% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 35.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.3 percentage points.
CXApp Inc. Warrant's quarterly ROE was -19.0% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 28.8 percentage points.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
CXApp Inc. Warrant invested $1.1M in research and development in Q3 2026. This represents a decrease of 28.1% from the same quarter a year earlier. Against the prior quarter it is down 37.1%.
CXApp Inc. Warrant invested $29K in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 480.0% from the same quarter a year earlier.
Not reported for Q3 2026.
CXAIW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0M+169.7% | $1.7M+38.5% | $950K-22.4% | $1.0M-38.5% | $1.1M-41.3% | $1.2M-30.7% | $1.2M-32.7% | $1.7M |
| Cost of Revenue | $1.4M+1026.8% | $623K+264.3% | $160K+6.7% | $134K-42.5% | $123K-66.9% | $171K-51.6% | $150K-54.1% | $233K |
| Gross Profit | $1.6M+63.4% | $1.1M+1.8% | $790K-26.4% | $888K-37.8% | $991K-35.0% | $1.1M-25.5% | $1.1M-28.0% | $1.4M |
| R&D Expenses | $1.1M-28.1% | $1.7M-23.0% | $1.5M+1.8% | $1.5M-0.4% | $1.5M-5.0% | $2.2M+26.7% | $1.5M-7.7% | $1.5M |
| SG&A Expenses | $2.9M+8.7% | $2.8M+21.4% | $2.7M+2.6% | $2.5M+19.1% | $2.7M-10.7% | $2.3M-13.7% | $2.7M-4.9% | $2.1M |
| Operating Income | -$3.2Mn/m | -$4.1Mn/m | -$4.1Mn/m | -$5.9Mn/m | -$3.8Mn/m | -$4.1Mn/m | -$3.7Mn/m | -$2.8M |
| EBITDA | -$3.2Mn/m | -$4.1Mn/m | -$4.1Mn/m | -$5.9Mn/m | -$3.8Mn/m | -$4.1Mn/m | -$3.7Mn/m | -$2.8M |
| Interest Expense | N/A | N/A | $17K+750.0% | $0-100.0% | $0-100.0% | $0-100.0% | $2K-99.4% | $110K |
| Income Tax | N/A | N/A | $2K | -$47Kn/m | N/A | $1Kn/m | N/A | -$122K |
| Net Income | -$3.2Mn/m | -$8.6Mn/m | -$4.0Mn/m | -$5.6Mn/m | -$3.2Mn/m | -$3.1Mn/m | -$1.6Mn/m | -$4.0M |
Not reported in any period shown, so not listed: EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
CXAIW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $33.4M+16.9% | $36.5M+23.6% | $33.0M+12.8% | $32.4M+2.0% | $28.5M | $29.6M | $29.3M | $31.8M-13.1% |
| Current Assets | $11.1M+84.7% | $13.5M+115.7% | $14.2M+166.8% | $12.8M+81.3% | $6.0M | $6.2M | $5.3M | $7.1M-21.6% |
| Cash & Equivalents | $9.0M+76.6% | $11.7M+140.5% | $12.3M+217.0% | $11.1M+127.5% | $5.1M+0.1% | $4.9M-21.2% | $3.9M-30.5% | $4.9M-22.2% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | $870K+825.5% | $706K-13.7% | $907K+23.9% | $789K-53.2% | $94K | $818K | $732K | $1.7M-13.8% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $7.7M-11.5% | $7.7M-12.1% | $6.6M-24.6% | $6.6M-24.6% | $8.7M | $8.7M | $8.7M | $8.7M |
| Total Liabilities | $16.8M+26.0% | $18.5M+21.2% | $17.0M+24.8% | $18.4M+13.8% | $13.3M | $15.3M | $13.7M | $16.2M+45.0% |
| Current Liabilities | $7.4M+9.9% | $8.2M+7.1% | $6.2M-33.5% | $5.8M-50.3% | $6.7M | $7.7M | $9.3M | $11.6M+12.2% |
| Non-Current Liabilities | $9.4M+42.4% | $10.3M+35.3% | $10.8M+150.9% | $12.7M+173.8% | $6.6M | $7.6M | $4.3M | $4.6M+434.6% |
| Total Equity | $16.6M+9.0% | $18.1M+26.1% | $15.9M+2.2% | $14.0M-10.3% | $15.2M+11.7% | $14.3M-12.0% | $15.6M-25.3% | $15.6M-38.6% |
| Retained Earnings | -$106.5Mn/m | -$103.3Mn/m | -$94.7Mn/m | -$90.7Mn/m | -$85.1M | -$82.0M | -$78.8M | -$77.2M |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
CXAIW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.6Mn/m | -$2.2Mn/m | -$2.2Mn/m | -$3.6Mn/m | -$2.8Mn/m | -$3.0Mn/m | -$979Kn/m | -$2.7M |
| Depreciation & Amortization | $10K-9.1% | $11K-8.3% | $9K-25.0% | $10K-33.3% | $11K-45.0% | $12K-45.5% | $12K-45.5% | $15K |
| Stock-Based Compensation | N/A | N/A | N/A | N/A | N/A | N/A | $624K+4.2% | N/A |
| Capital Expenditures | $29K+480.0% | N/A | N/A | $2Kn/m | $5K+25.0% | $11K+37.5% | $5K-72.2% | $0 |
| Free Cash Flow | -$2.7Mn/m | N/A | N/A | -$3.6Mn/m | -$2.8Mn/m | -$3.0Mn/m | -$984Kn/m | -$2.7M |
| Investing Cash Flow | -$29Kn/m | N/A | N/A | -$2Kn/m | -$5Kn/m | -$11Kn/m | -$5Kn/m | $0 |
| Financing Cash Flow | $0-100.0% | $4.9M | $3.5M | $9.6M+285.9% | $3.0M+200.0% | N/A | N/A | $2.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CXAIW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.9%-35.1pp | 63.2%-22.8pp | 83.2%-4.6pp | 86.9%+0.9pp | 89.0%+8.6pp | 86.0%+6.0pp | 87.8%+5.7pp | 86.0% |
| Operating Margin | -105.3% | -243.2% | -434.1% | -576.9% | -343.4% | -336.1% | -306.0% | -169.7% |
| Net Margin | -104.9% | -508.9% | -421.4% | -544.1% | -283.4% | -256.7% | -132.0% | -239.5% |
| Return on Equity | -19.0%+1.7pp | -47.8%-25.8pp | -25.1%-14.8pp | -39.8%-14.3pp | -20.7%+19.1pp | -21.9%+10.4pp | -10.4%+14.4pp | -25.5% |
| Return on Assets | -9.4%+1.6pp | -23.6%-13.0pp | -12.1%-6.6pp | -17.2%-4.6pp | -11.1% | -10.6% | -5.5% | -12.5% |
| Current Ratio | 1.50+0.6x | 1.64+0.8x | 2.29+1.7x | 2.23+1.6x | 0.89 | 0.82 | 0.57 | 0.61-0.3x |
| Liabilities-to-Equity | 1.01+0.1x | 1.020.0x | 1.07+0.2x | 1.32+0.3x | 0.87 | 1.07 | 0.88 | 1.04+0.6x |
| Asset Turnover | 0.09+0.1x | 0.050.0x | 0.030.0x | 0.030.0x | 0.04 | 0.04 | 0.04 | 0.05 |
| FCF Margin | -88.7% | N/A | N/A | -355.5% | -248.1% | -247.2% | -80.4%-43.6pp | -162.3% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Where CXApp Inc. Warrant Ranks
Frequently Asked Questions
CXApp Inc. Warrant (CXAIW) reported $4.6M in total revenue for fiscal year 2025. This represents a -35.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
CXApp Inc. Warrant (CXAIW) revenue declined by 35.8% year-over-year, from $7.1M to $4.6M in fiscal year 2025.
No, CXApp Inc. Warrant (CXAIW) reported a net loss of $13.5M in fiscal year 2025.
CXApp Inc. Warrant (CXAIW) had EBITDA of -$17.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
CXApp Inc. Warrant (CXAIW) had a gross margin of 87.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
CXApp Inc. Warrant (CXAIW) has a return on equity of -96.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
CXApp Inc. Warrant (CXAIW) recorded an outflow of $10.4M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
CXApp Inc. Warrant (CXAIW) recorded an outflow of $10.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
CXApp Inc. Warrant (CXAIW) had $32.4M in total assets as of fiscal year 2025, including both current and long-term assets.
CXApp Inc. Warrant (CXAIW) invested $23K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
CXApp Inc. Warrant (CXAIW) invested $6.6M in research and development during fiscal year 2025.
CXApp Inc. Warrant (CXAIW) had a current ratio of 2.23 as of fiscal year 2025, which is generally considered healthy.
CXApp Inc. Warrant (CXAIW) had a liabilities-to-equity ratio of 1.32 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
CXApp Inc. Warrant (CXAIW) had a return on assets of -41.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2025, CXApp Inc. Warrant (CXAIW) held $11.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $10.4M over that year. Dividing the one by the other, the reported balance equals about 13 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
CXApp Inc. Warrant (CXAIW) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
CXApp Inc. Warrant (CXAIW) reported a net loss of $13.5M while operations used $10.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
CXApp Inc. Warrant (CXAIW) reported an operating loss of $17.6M against $2K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
CXApp Inc. Warrant (CXAIW) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For CXApp Inc. Warrant it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.