Q3 2024 CXApp Inc Earnings Call Transcript
Key Points
- KINS Technology Group Inc (KINZU) reported its best financial quarter ever with a revenue of $1.9 million and a net retention rate of 106%.
- The company has successfully launched its Sky platform on the AWS marketplace, expanding its cloud partnerships to include Google Cloud and Microsoft Azure.
- KINS Technology Group Inc (KINZU) has developed a strong intellectual property portfolio with 37 filed patents, 17 of which have been issued.
- The company has a global presence with satellite hubs in Toronto and Manila, supporting deployments in over 200 cities across 50 countries.
- The introduction of new products like Sky View and Sky Kiosk has been well-received, with Sky View gaining its first paid customer this quarter.
- Employee engagement remains a significant challenge, with low engagement levels reported globally, impacting productivity.
- Despite revenue growth, the company still faces high operating expenses, with a total operating loss of $3.3 million this quarter.
- The transition to an AI-native model requires substantial investment in R&D, which could strain financial resources.
- The company is not currently exploring opportunities in the government sector, potentially missing out on lucrative contracts.
- There is a need for continuous innovation and adaptation to maintain competitive advantage in the rapidly evolving AI and workplace technology market.
Greetings, welcome to the CX A third quarter, 2024 earnings call at this time, all participants are in a listen-only mode. Please note this conference is being recorded. I will now turn the conference over to your host, Karam Sheih, founder, Chairman and CEO of CX app. You may begin.
Thank you operator and thank you everybody for joining the call on this call for Cxa. I pronounced Sky. Joining me today is our Chief Financial Officer Joy Fugo.
We plan to discuss Cxa I's financial results for the third quarter of 2024 and also provide an overall business update on our progress in shaping the future of work, creating transformative employee experiences.
By now, everyone should have access to our own press release as well as our announcement of CXI being available on the Amazon web services aws marketplace.
We've also filed our quarterly earnings report or thank you for Q3 2024. Today, this information will also be found on our website www dot Cxa dotcom operator. We can move to slide 2 and
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