Q4 2023 CXApp Inc Earnings Call Transcript
Key Points
- KINS Technology Group Inc (KINZU) announced a strategic rebranding from CXApp to CXAI, aiming to shape the future of work and create transformative employee experiences.
- The company reported a 24% increase in annual recurring revenue from 2022 to 2023, indicating growth and customer retention.
- KINS Technology Group Inc (KINZU) has secured major customer wins, including two Fortune 1,000 companies in the last quarter, demonstrating market confidence and expansion.
- The company has a strong focus on security and compliance, which has attracted customers from regulated industries and contributed to its credibility and trustworthiness.
- KINS Technology Group Inc (KINZU) has a substantial intellectual property portfolio with 37 filed patents and 17 granted, establishing it as a technological frontrunner.
- The company experienced a hiccup with their webcast system, which caused a delay in the earnings call, potentially affecting investor relations.
- Despite the increase in annual recurring revenue, total revenue was down due to the strategic shift to a recurring revenue model, which may concern short-term focused investors.
- KINS Technology Group Inc (KINZU) underwent significant operational expense reductions, which while improving efficiency, could raise concerns about the company's ability to scale and maintain service quality.
- The transition from a custom design services business to a subscription-based platform, while strategic, may involve risks associated with changing business models.
- The company's focus on a mobile-first workforce and AI integration, although innovative, may face challenges in adoption and integration across diverse enterprise environments.
Greetings. Welcome to the CXApp fourth-quarter 2023 earnings call. (Operator Instructions)
Please note this conference is being recorded. I will now turn the conference over to your host, Khurram Sheikh, Chairman and CEO. You may begin.
Thank you, operator. Thank you, everyone, for joining the quarterly earnings call for CXAI. I plan to discuss CXAI's financial results for the fourth quarter of 2023 and for the full-year 2023 as well. I will also provide an overall business update on our progress in shaping the future work and creating transformative employee experiences.
I want to first start off by thanking everybody for joining the call. I know that unfortunately, yesterday, there was a hiccup with our webcast system, which has nothing to do with the company. But the webcast provider we're working with, unfortunately, the system was down. And because this was such an important call, sharing the results for Q4 as well as the full year and some really exciting announcements we
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