CXApp Q2 revenue rises 79% sequentially, annual recurring revenue jumps - CXAI News | RalliesCXApp Q2 revenue rises 79% sequentially, annual recurring revenue jumps
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CXAI• Outlook
- CXApp aims to expand its enterprise customer base and cross-sell solutions to mid-market clients
Drivers of the quarter
- EngineRoom acquisition - The company said the EngineRoom deal expanded its recurring revenue base, customer reach and mid-market distribution
- Enterprise renewals and new wins - The company secured two major enterprise renewals and a new multi-year financial services contract
- CXAI 2.0 deployment - The company advanced its CXAI 2.0 platform from strategy to production deployment for all enterprise clients
Q2 revenue and recurring revenue rise
- US enterprise AI software firm's Q2 revenue grew 79% sequentially and 42% yr/yr
- Annual recurring revenue increased to $11.5 mln, with net revenue retention at 99.3%
- The company completed the EngineRoom acquisition, expanding its mid-market reach and recurring revenue base
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | Beat |
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