CXAI to Triple Revenue Run-Rate to Over $12M with EngineRoom Acquisition, Adding $1.6M Adjusted EBITDA
Summary
CXApp Inc. (CXAI) acquired EngineRoom, an AI-powered data intelligence platform. This acquisition is projected to triple CXAI's annualized revenue run-rate from approximately $4 million to over $12 million and add about $1.6 million in adjusted EBITDA. EngineRoom itself contributes roughly $8.1 million in annualized revenue, with 94% recurring. This strategic move significantly enhances CXAI's financial profile, providing a much-needed boost in scale and profitability following recent disclosures of a Nasdaq delisting threat, a going concern warning, and substantial share dilution. The deal also expands CXAI's customer base and accelerates the commercialization of its Agentic AI SKY platform.
At the time of this announcement, CXAI was trading at $0.16 on NASDAQ in the Technology sector, with a market capitalization of approximately $11.2M. The 52-week trading range was $0.13 to $1.15. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: ACCESS Newswire.