CXApp Second Quarter 2024 Earnings: Misses Expectations

CXApp (NASDAQ:CXAI) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.77m (down 7.8% from 2Q 2023).
• Net loss: US$5.26m (loss narrowed by 64% from 2Q 2023).
• US$0.34 loss per share (improved from US$1.05 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CXApp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 26%.

Looking ahead, revenue is forecast to grow 56% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 24% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 4 warning signs for CXApp (of which 1 makes us a bit uncomfortable!) you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.