CXApp Inc (CXAI) 2024 Q3 法說會逐字稿

Greetings. Welcome to the CXAI third-quarter 2024 earnings call. (Operator Instructions)

問候。歡迎參加 CXAI 2024 年第三季財報電話會議。（操作員說明）

Please note, this conference is being recorded. I will now turn the conference over to your host, Khurram Sheikh, Founder, Chairman and CEO of CXApp. You may begin.

請注意，本次會議正在錄製中。現在我將會議交給主持人 CXApp 創辦人、董事長兼執行長 Khurram Sheikh。你可以開始了。

Thank you, operator, and thank you, everybody, for joining the quarterly earnings call for CXAI pronounced Sky. Joining me today is our Chief Financial Officer, Joy Mbanugo. We plan to discuss CXAI'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.

謝謝業者，也謝謝大家參加 CXAI 發音為 Sky 的季度財報電話會議。今天加入我的是我們的財務長喬伊·姆巴努戈 (Joy Mbanugo)。我們計劃討論 CXAI 2024 年第三季的財務業績，並提供有關我們在塑造未來工作、創造變革性員工體驗方面進展的整體業務最新資訊。

By now, everybody should have access to our earnings press release as well as our announcement of CXAI being available on the Amazon Web Services AWS Marketplace. We have also filed our quarterly earnings report or 10-Q for Q3 2024 today. This information will also be found on our website, www.cxapp.com.

到目前為止，每個人都應該可以存取我們的收益新聞稿以及我們關於 CXAI 在 Amazon Web Services AWS Marketplace 上推出的公告。我們今天也提交了 2024 年第三季的季度收益報告或 10 季財報。此資訊也可以在我們的網站 www.cxapp.com 上找到。

Operator, we can move to slide 2 and 3, please. These are our disclaimer slides. I let the folks on the call read in their own leisure, and we want to make sure we give those disclaimers before we get into the main section.

接線員，我們可以轉到投影片 2 和 3。這些是我們的免責聲明幻燈片。我讓參加電話會議的人在閒暇時閱讀，我們希望確保在進入主要部分之前給出這些免責聲明。

Operator, please go to slide 4, please. So dear shareholders, I'm proud to share our Q3 2024 results and the amazing progress we have made in shaping the future of work. At the heart of CXAI lies a simple yet powerful belief; put the employee first and everything else follows. It is not just about the work, it's about the people who do it, the places where they come together and the things they need to succeed. CXAI or what we call Sky redefines how we think about work, life and the seamless interplay between the two. I want to share with you a company snapshot of where we're at today.

操作員，請前往投影片 4。親愛的股東，我很自豪地分享我們 2024 年第三季的業績以及我們在塑造未來工作方面取得的驚人進展。CXAI 的核心在於一個簡單而強大的信念：將員工放在第一位，其他一切隨之而來。這不僅與工作有關，還與從事這項工作的人、他們聚集的地方以及他們成功所需的事物有關。CXAI 或我們所說的 Sky 重新定義了我們對工作、生活以及兩者之間無縫相互作用的看法。我想與您分享我們今天所處的公司概況。

We are an AI-first company that believes the employee is at the center of the multibillion-dollar growing workplace experiences market. With our state-of-the-art CXAI platform, we are creating a new category in software, Employee Experiences. We are headquartered in the San Francisco Bay Area, where we have our key design and technology development resources. We also have satellite hubs in Toronto and Manila supporting global deployments in around 200 plus cities in 50 countries in nearly five continents.

我們是一家人工智慧優先的公司，相信員工是價值數十億美元、不斷成長的工作場所體驗市場的核心。借助我們最先進的 CXAI 平台，我們正在創建一個新的軟體類別：員工體驗。我們的總部位於舊金山灣區，在那裡我們擁有關鍵的設計和技術開發資源。我們在多倫多和馬尼拉設有衛星中心，支援近五大洲 50 個國家約 200 多個城市的全球部署。

Our team of 80 innovators globally today at CXAI are majority engineers, but all our colleagues are great collaborators and design thinkers that are creating the next generation of experiences for employees globally.

如今，CXAI 的全球團隊由 80 名創新者組成，其中大多數是工程師，但我們所有的同事都是優秀的合作者和設計思想家，他們正在為全球員工創造下一代體驗。

Our customers are Fortune 1000 companies headquartered in North America. But once they sign up with CXAI, they eventually deploy to all their employee sites globally. The reason why they chose CXAI is because we have the best and most advanced technology platform that's built on 37 filed patents, 17 of them which have been issued.

我們的客戶是總部位於北美的財富 1000 強公司。但一旦他們與 CXAI 簽約，他們最終會部署到全球所有員工站點。他們選擇CXAI的原因是因為我們擁有最好、最先進的技術平台，該平台基於37項已申請專利，其中17項已發布。

This substantial intellectual property not only establishes our company as a technological frontrunner, but also secures our position as a pioneer in the industry. This platform has been developed in collaboration with leading AI companies in the tech ecosystem in Silicon Valley, and we're excited to partner with the leading cloud providers like Google Cloud and Microsoft Azure.

這項重要的智慧財產權不僅使我們公司成為技術領跑者，也鞏固了我們作為產業先鋒的地位。該平台是與矽谷技術生態系統中領先的人工智慧公司合作開發的，我們很高興與 Google Cloud 和 Microsoft Azure 等領先的雲端供應商合作。

Today, we announced our collaboration with Amazon Web Services, AWS, which will allow us to scale our business to the next level. A key differentiator to our business is that we have strong security and compliance credentials globally. That is the reason you see so many logos from regulated industries. They use CXAI because they know they can trust us with their data and provide enhanced employee experiences in a secure and reliable environment. So, the company is in a strong position today, the earnings release is out.

今天，我們宣布與亞馬遜網路服務 AWS 合作，這將使我們能夠將業務擴展到新的水平。我們業務的一個關鍵區別在於我們在全球擁有強大的安全性和合規性憑證。這就是您看到如此多來自受監管行業的徽標的原因。他們使用 CXAI 是因為他們知道我們可以信任他們的數據，並在安全可靠的環境中提供增強的員工體驗。因此，該公司今天處於強勢地位，財報已經發布。

I'm going to talk about the market next. So, operator, if you can move to slide 5 and on to slide 6 as well. As we think about the market, I think the biggest item in the news has been the Return To Office, RTO has been a big topic. At the same time, employee engagement has been super important as well. And most recently, Amazon CEO, Andy Jassy, sent a letter to his employees with a mandate for a full five days Return To Office, RTO mandate beginning January 2025.

接下來我要談談市場。那麼，操作員，您是否可以轉到投影片 5 並轉到投影片 6。當我們思考市場時，我認為新聞中最大的項目是重返辦公室，RTO 一直是一個大話題。同時，員工敬業度也非常重要。最近，亞馬遜執行長安迪賈西 (Andy Jassy) 向員工發出了一封信，要求員工從 2025 年 1 月開始進行為期五天的重返辦公室（RTO）任務。

There have been many CEOs following suit as well as many others doubling down on their remote-first mandate. This data that we show here from Flex Index shows that although there has been an increase in the RTO mandates, most companies still offer work location flexibility. No matter what side of the RTO debate you belong to, there's overwhelming evidence that employee engagement is still at its lowest since the pandemic and continues to be a significant challenge for any organization, large or small.

許多執行長紛紛效仿，也有許多執行長加倍努力履行遠距優先的使命。我們在此顯示的來自 Flex Index 的數據表明，儘管 RTO 要求增加，但大多數公司仍然提供工作地點靈活性。無論您屬於 RTO 辯論的哪一方，都有壓倒性的證據表明，員工敬業度仍處於大流行以來的最低水平，並且對於任何組織（無論大小）來說仍然是一個重大挑戰。

Gallup has actually created an engagement survey called the Gallup Q12, a survey of 12 questions that ask employees about performance, commitment to their organization and business metrics. Employee engagement trends are significant because they're linked to many important performance outcomes, crucial to organization leaders like employee retention, customer service, safety incidents, quality of work and profitability.

蓋洛普實際上創建了一項名為蓋洛普 Q12 的敬業度調查，該調查包含 12 個問題，詢問員工有關績效、對組織的承諾和業務指標的資訊。員工敬業度趨勢非常重要，因為它們與許多重要的績效結果相關，對組織領導者至關重要，例如員工留任、客戶服務、安全事件、工作品質和獲利能力。

I point to Gallup, not engaged or actively disengaged employees account for approximately $1.9 trillion, again, $1.9 trillion in lost productivity nationally. If you look at the chart that I show here, the trends are still on low engagement, this is for in North America, this is around a global phenomenon. Gallup has measured the productivity of employees and really advanced organizations that have got high employee engagement, that number has to be around 70%. So, we're way off, ultimately off on the average in terms of employee engagement. And this is probably the main reason why CEOs like Andy Jassy are asking their teams to come back to the office.

我以蓋洛普為例，不敬業或積極脫離的員工造成了約 1.9 兆美元的損失，同樣，全國生產力損失也達到了 1.9 兆美元。如果你看我在這裡顯示的圖表，趨勢仍然是低參與度，這是在北美，這是一個全球現象。蓋洛普測量了員工的生產力，以及員工敬業度高的真正先進組織，數字必須在 70% 左右。因此，我們在員工敬業度方面還遠遠落後於平均值。這可能是像安迪·賈西這樣的執行長要求他們的團隊回到辦公室的主要原因。

His memo actually outlined three things driving the decision: culture, cost and innovation. Culture is key to the success of any organization. Culture is what defines a group of people, how they work together and ultimately defines their identity. The fact that culture is challenged in the new normal of hybrid work is an interesting paradox. By pure definition, we have always had remote workers, all not in the headquarters of the company.

他的備忘錄實際上概述了推動這項決定的三個因素：文化、成本和創新。文化是任何組織成功的關鍵。文化定義了一群人、他們如何合作並最終定義他們的身份。事實上，文化在混合工作的新常態中受到挑戰，這是一個有趣的悖論。從純粹的定義來看，我們一直都有遠距員工，而且都不在公司總部。

As companies grow, they grow their base of employees everywhere. So the notion of the new normal where the people in the same city are remote because they are not in the office every day, like every other remote, not in the same city worker is interesting. The C-suite must start thinking differently how to create the culture of one team everywhere.

隨著公司的發展，他們在各地擴大員工基礎。因此，新常態的概念很有趣，即同一城市的人們因為不像其他遠距工作人員一樣每天都在辦公室而處於遠端狀態，而不是在同一個城市。最高管理階層必須開始以不同的方式思考如何在各地創造一個團隊的文化。

The fact that someone is in the same city but not coming to the office every day should not prevent them to be part of the overall culture. The new culture is created with a combination of digital tools tied to the places where people work to create a pervasive engagement environment and letting the bonds build naturally.

即使有人在同一個城市但不是每天都來辦公室，這一事實不應妨礙他們成為整體文化的一部分。新文化是透過與人們工作場所相關的數位工具組合創建的，以創建普遍的參與環境並讓聯繫自然建立。

Even with Amazon's amazing market cap profitability, the market demands that the C-suite continue to look at sustained growth and profitability. Real estate and human capital are two big cost items for any organization and seeing less than 50% occupancy reports or less than 33% employee engagement analytics is not pleasant reading to a senior executive or their Board.

儘管亞馬遜擁有驚人的市值獲利能力，但市場要求高階主管繼續專注於持續成長和獲利能力。對於任何組織來說，房地產和人力資本都是兩大成本項目，而看到低於50% 的入住率報告或低於33% 的員工敬業度分析對於高級管理人員或其董事會來說並不是一件愉快的事。

To manage cost efficiently and track employee productivity, occupancy reports or user service are inadequate. What is needed are AI-enhanced analytical tools that not only provide historical actual reports, but also allow managers to forecast their enterprise usage as well as reimagine the workplaces to meet their key performance indicators. This is a big, big problem, and this is across all organizations.

為了有效地管理成本和追蹤員工生產力，佔用報告或用戶服務是不夠的。我們需要的是人工智慧增強的分析工具，不僅可以提供歷史實際報告，還可以讓管理者預測他們的企業使用情況，並重新構想工作場所以滿足他們的關鍵績效指標。這是一個非常非常大的問題，並且涉及所有組織。

That's why we're so excited about the solution cycle we have. Technology has enabled people to be able to connect virtually from anywhere, anytime and provide in-moment feedback. Yet we all know that even with all these technology advancements for a team to gel and create amazing products, it is super critical to meet and work in person.

這就是為什麼我們對我們擁有的解決方案週期如此興奮。科技使人們能夠隨時隨地進行虛擬連接並提供即時回饋。然而我們都知道，即​​使有了這些技術進步，團隊要想凝結並創造出令人驚嘆的產品，面對面的交流和工作仍然非常重要。

We need that face-to-face interaction, but with a new set of engagement tools for this new workplace age. The employees need tools that will allow them to be empowered and engaged to work from anywhere, like how the smartphone enabled a new way of interactions between humans, and we need the managers and employees to have similar tools that allow them to guide and nurture their employees in friendly environments.

我們需要面對面的互動，但需要針對新的工作場所時代的一套新的參與工具。員工需要能夠讓他們在任何地方獲得授權並參與工作的工具，就像智慧型手機如何實現人與人之間互動的新方式一樣，我們需要管理者和員工擁有類似的工具，讓他們能夠指導和培養他們的能力。

I'm going to talk about how Gartner, next slide operator please, is talking about this now as the next hype cycle. As you know, Gartner is famous for looking at technology in advance. Gartner has created now a hype cycle for digital workplace infrastructure and IT operations. It really focused on generative AI-based applications that take center stage in this digital workplace infrastructure.

我將談談 Gartner（下一張投影片的操作者）現在如何談論這個作為下一個炒作週期。如您所知，Gartner 因提前關注技術而聞名。Gartner 現在已經創建了數位工作場所基礎架構和 IT 營運的炒作週期。它真正專注於基於人工智慧的生成應用程序，這些應用程式在數位工作場所基礎設施中佔據中心地位。

CXAI has been mentioned by Gartner as a key technology leader in this ecosystem with numerous technologies from workplace experience app to generative AI tools to augmented reality cloud to indoor location services that are all in our CXAI platform that are on various slopes of this hype cycle.

CXAI 被Gartner 稱為該生態系統中的關鍵技術領導者，擁有從工作場所體驗應用程式到生成式AI 工具、擴增實境雲到室內定位服務等眾多技術，這些技術都在我們的CXAI 平台中，並且處於該炒作週期的不同坡度。

It's interesting when you read this hype cycle, it's obvious this is not something 10 years away. This is something within the next two to five years. And this is transformational. Even Gartner has accepted that. And as you look at the capabilities that our company provides for the markets we're serving, this is transformative.

當你讀到這個炒作週期時，你會發現很有趣，很明顯這不是 10 年後才會發生的事情。這是未來兩到五年內的事。這是變革性的。甚至 Gartner 也接受了這一點。當您查看我們公司為我們所服務的市場提供的功能時，您會發現這是變革性的。

This is existential for some of these companies. So, hybrid work is here to say, improving the experience of employees in the office or away from the office is paramount, and we've got the technology capabilities around it. So, this is where -- operator, next chart, please. Next slide, please. We are really focused on the AI piece of it.

這對於其中一些公司來說是生死攸關的。因此，混合工作在這裡是說，改善員工在辦公室或辦公室外的體驗至關重要，並且我們擁有圍繞它的技術能力。所以，這就是──操作員，請下一張圖表。請下一張投影片。我們真正關注的是人工智慧部分。

When we took the company public 1.5 years ago, it was obvious that we were focused on CXAI as being the AI transformational platform. And now the world is seeing that AI is coming into its next incarnation with AI agents that operate autonomously, making decisions and taking actions without human intervention. Agents just don't give answers. They can also take action. Agentic AI's ability to take action autonomously has the potential to help CIOs realize their vision for generative AI to increase productivity across the organization.

1.5 年前，當我們將公司上市時，很明顯地我們將 CXAI 視為人工智慧轉型平台。現在，全世界都看到人工智慧正在進入下一個階段，人工智慧代理可以自主運行，無需人工幹預即可做出決策並採取行動。代理人只是不給答案。他們也可以採取行動。Agentic AI 自主採取行動的能力有可能幫助 CIO 實現生成式 AI 的願景，從而提高整個組織的生產力。

I'm showing a chart here from Gartner, the survey of 78 leading CIOs on the benefits to the organization using generative AI and two of the top four are squarely tied to our space, increased employee experiences and productivity. AI is transformative to the future of work, creating massively scalable offerings that create the flywheel effect of automating the workflows, driving engagement, enabling collaboration and productivity, leading to immense affinity in the employer-employee relationship.

我在這裡展示了Gartner 的圖表，該圖表針對78 位領先的CIO 進行了關於使用生成式AI 給組織帶來的好處的調查，前四名中的兩名與我們的空間、提高的員工體驗和生產力直接相關。人工智慧正在改變未來的工作方式，創造出大規模可擴展的產品，從而產生工作流程自動化、推動參與、實現協作和生產力的飛輪效應，從而在雇主與員工關係中產生巨大的親和力。

We have been strong believers in this technology and now proud to be the first in our industry to offer the solution to our customers. We firmly believe the future of work will be based on Agentic AI as it will drive outcome-based solutions than just assistance. Autonomous AI agents must be trustworthy given their potential role in automating mission-critical business processes.

我們一直堅信這項技術，現在很自豪能夠成為業內第一家為客戶提供解決方案的公司。我們堅信，未來的工作將基於 Agentic AI，因為它將推動基於結果的解決方案，而不僅僅是協助。鑑於自主人工智慧代理在自動化關鍵任務業務流程方面的潛在作用，它們必須值得信賴。

Enterprise will only deploy AI agents unless they're reliable, trustworthy and secure, and that is why we built CXAI. Next chart, operator. So, I want to talk about why our products and capabilities are really transformational here. The CXAI technology platform represents a shift towards an AI-centric approach in workplace innovation. CXAI seamlessly integrates customer experience, CX with artificial intelligence AI focused around the employee to deliver solutions that transform the way work happens, making workspaces more intuitive and efficient, leading to happier and more productive employees.

企業只會部署人工智慧代理，除非它們可靠、值得信賴且安全，這就是我們建立 CXAI 的原因。下一張圖，操作員。所以，我想談談為什麼我們的產品和能力在這裡真正具有變革性。CXAI 技術平台代表了工作場所創新向以人工智慧為中心的方法的轉變。CXAI 將客戶體驗、CX 與以員工為中心的人工智慧 AI 無縫集成，提供能夠改變工作方式的解決方案，使工作空間更加直觀和高效，從而使員工更加快樂、更有效率。

We have built CXAI as an AI-native solution grounds up anchored on our mobile-first cloud-first architecture. We have architected our solution as a platform that solves problems for both employers and employees as they navigate their work lives. So if you look at this architecture diagram, I try to simplify it as we've really designed it as an end-to-end data architecture, and I want to walk you through the key components of the capabilities. On the left, as you start from the CXAI apps, these includes applications that work on all operating systems from Apple's iOS to Google's Android to any web-based solution that can reside on the smaller screens of a phone or a watch to the largest screens of a kiosk. We are truly multi-OS.

我們將 CXAI 建構為基於行動優先、雲端優先架構的人工智慧原生解決方案。我們將解決方案建構成一個平台，可以為雇主和員工解決工作生活中的問題。因此，如果您查看此架構圖，我會嘗試簡化它，因為我們實際上將其設計為端到端資料架構，並且我想引導您了解功能的關鍵元件。在左側，當您從CXAI 應用程式開始時，這些應用程式包括適用於所有作業系統的應用程序，從Apple 的iOS 到Google 的Android，再到可以駐留在手機或手錶的較小螢幕到最大螢幕上的任何基於Web 的解決方案資訊亭的。我們是真正的多作業系統。

These applications are all designed with AI capabilities to improve the user experience and automated workflows for the most productive and engaging actions and outcomes. The next box that we have is the brains behind CXAI platform resides in what we call CXAI BTS, aka behind the scenes, where rule engines are established and content delivery is managed securely for all functions.

這些應用程式均採用人工智慧功能設計，旨在改善使用者體驗和自動化工作流程，以實現最高效、最具吸引力的行動和成果。我們的下一個盒子是 CXAI 平台背後的大腦，位於我們所謂的 CXAI BTS 中，即在幕後，在那裡建立規則引擎並安全地管理所有功能的內容交付。

The ability for managers to streamline their operation digitally with natural language-based commands and customize it for their locations is ground-breaking and transformational. And last but not least, the third leg of the wheel is the CXAI VU, SkyView. CXAI VU is a generative AI-based analytics platform designed to revolutionize the workplace environment, allowing organizations to analyze large data sets, generate actionable insights and make real-time decisions.

管理人員能夠透過基於自然語言的命令以數位方式簡化操作並根據其所在位置進行定制，這是突破性的、變革性的。最後但並非最不重要的一點是，輪子的第三條腿是 CXAI VU、SkyView。CXAI VU 是一個基於人工智慧的生成分析平台，旨在徹底改變工作場所環境，使組織能夠分析大型資料集、產生可行的見解並做出即時決策。

All of these products are connected together in a secure enterprise environment that provides continuous feedback and enhancement to provide unmatched experiences for the enterprise. All the CXAI products that you see here are hosted on all major cloud platforms with modern AI infrastructure powering our customers with best-in-class cloud capabilities, including proactive monitoring, security, privacy, reliability and automation.

所有這些產品在安全的企業環境中連接在一起，提供持續的回饋和增強，為企業提供無與倫比的體驗。您在此處看到的所有 CXAI 產品均託管在所有具有現代 AI 基礎設施的主要雲端平台上，為我們的客戶提供一流的雲端功能，包括主動監控、安全性、隱私性、可靠性和自動化。

And today's announcement with us being, collaborating with AWS allows us now to be on all three cloud providers. We've had deployments on Google Cloud and Azure, and now we're gearing up to be deploying on AWS, the largest cloud provider. By the way, we're deploying all of these with the safeguards and guardrails to prevent agents from hallucinating in production environment.

今天我們宣布，與 AWS 合作使我們現在可以使用所有三個雲端提供者。我們已經在 Google Cloud 和 Azure 上進行了部署，現在我們正準備在最大的雲端供應商 AWS 上進行部署。順便說一句，我們正在部署所有這些，並配備保障措施和護欄，以防止特工在生產環境中產生幻覺。

We're making this as a true enterprise environment solution, and this is where working with the likes of Google, Amazon and Azure has been really important for us, plus this -- all this innovation of CXAI has been done with our large customers. As you know, our customers are in large categorical entertainment, health care, financial services, consumer and tech, and these are big giants in the Fortune 1000. We've been working with them closely to provide these end-to-end solutions, and it's so satisfying to see this now coming to reality. Next slide, operator. So, let me delve a little deeper into what are these experiences and some updates on the capabilities and availabilities of these offerings.

我們正在將其打造成真正的企業環境解決方案，這就是與 Google、Amazon 和 Azure 等公司合作對我們來說非常重要的地方，此外，CXAI 的所有創新都是與我們的大客戶一起完成的。如您所知，我們的客戶分佈在大型娛樂、醫療保健、金融服務、消費和科技領域，這些都是財富 1000 強中的巨頭。我們一直與他們密切合作，提供這些端到端解決方案，現在看到這一點成為現實，我們感到非常滿意。下一張投影片，操作員。因此，讓我更深入地研究這些體驗以及這些產品的功能和可用性的一些更新。

So, if you look at the left, you see the screen, the CXAI app screen, and you see the home screen of a typical CXAI application. It's an intuitive screen anchored on the map of the location that allows the user to be one click away from any actions and with our Agentic AI solutions, one voice or text command away from actions. So, make it very simple, very intuitive, very easy to use. And the first pillar of that is really providing that consistent personalized workflow-specific experience across mobile and web, powered by over 100-plus integrations with enterprise back-end systems. It manages the complexity in the back with the CXAI BTS, providing users with a clean, easy to navigate context-specific UI to complete their tasks.

因此，如果您看左側，您會看到螢幕、CXAI 應用程式螢幕，以及典型 CXAI 應用程式的主螢幕。這是一個錨定在位置地圖上的直覺式螢幕，使用者只需單擊即可執行任何操作，而使用我們的 Agentic AI 解決方案，只需一個語音或文字命令即可執行操作。所以，讓它變得非常簡單、非常直覺、非常容易使用。第一個支柱實際上是在行動和網路上提供一致的個人化工作流程特定體驗，由與企業後端系統的 100 多個整合提供支援。它透過 CXAI BTS 管理後台的複雜性，為使用者提供乾淨、易於導航的上下文特定 UI 來完成其任務。

The next experience is really through the spatial intelligence. Spatial intelligence is a key part of CXAI's technology stack, focused on optimizing physical spaces and enhancing interactions within the workplace, providing contextual awareness. CXAI provides unique intelligent interaction capabilities by combining 2D and 3D mapping, mobile positioning and IoT technologies. These are combined with the pre-trained AI models, helping to create in-the-moment experiences to delight our customers. The third part of the experience solutions is the AI experiential analytics.

接下來的體驗確實是透過空間智能來實現的。空間智慧是 CXAI 技術堆疊的關鍵部分，專注於優化實體空間和增強工作場所內的交互，提供情境感知。CXAI透過結合2D和3D地圖、行動定位和物聯網技術，提供獨特的智慧互動能力。這些與預先訓練的人工智慧模型相結合，有助於創造即時體驗來取悅我們的客戶。體驗解決方案的第三部分是AI體驗分析。

The use of AI to derive insights into employee engagement and workplace utilization is a core component of CXAI, emphasizing the value of data in making decisions as well as measuring productivity. CXAI VU had its first paid customer this quarter and is now generally available to all our existing clients who are all excited about its capabilities. And I'm really proud of the engineering team for delivering this solution on schedule to our first customers and deploying it. And all our customers are excited about it because absolutely, this is super critical for their business operations. And for all new customers coming on CXAI, CXAI VU is being packaged together with the applications.

使用人工智慧來深入了解員工敬業度和工作場所利用率是 CXAI 的核心組成部分，強調數據在決策和衡量生產力方面的價值。CXAI VU 本季擁有第一個付費客戶，現在可供我們所有對其功能感到興奮的現有客戶使用。我為工程團隊按時向我們的第一批客戶交付並部署該解決方案感到非常自豪。我們所有的客戶都對此感到興奮，因為這對他們的業務運作絕對至關重要。對於所有使用 CXAI 的新客戶，CXAI VU 將與應用程式打包在一起。

So, as you go acquired the CXAI platform, analytics comes with it. And finally, as we look at our more advanced capabilities with Generative AI, Generative AI in CXAI is really tied to boosting efficiency and productivity by enabling voice and text activity tasks like scheduling meetings with a simple command and features like search and discovery. Leveraging the most advanced multimodal LLMs, we are adding responsible, secure and reliable Gen AI capabilities through a retrieval augmented generation RAG model that uses internal enterprise data to support intelligent planning and user interaction through text, speech, and video. This streamlines administrative duties, driving efficiency and convenience for employers as well as personalization for on-demand knowledge augmentation. And I'm going to have the operator now switch to a video that I want to show a generative AI video to you guys of some of the capabilities we have.

因此，當您購買 CXAI 平台時，分析就會隨之而來。最後，當我們審視生成式AI 的更高級功能時，CXAI 中的生成式AI 確實與透過啟用語音和文字活動任務（例如使用簡單的命令安排會議）以及搜尋和發現等功能來提高效率和生產力息息相關。利用最先進的多模式法學碩士，我們透過檢索增強一代 RAG 模型添加負責任、安全和可靠的 Gen AI 功能，該模型使用內部企業數據透過文字、語音和視訊支援智慧規劃和用戶互動。這簡化了管理職責，提高了雇主的效率和便利性，並實現了按需知識增強的個人化。我現在要讓操作員切換到一個視頻，我想向你們展示一個生成人工智能視頻，展示我們擁有的一些功能。

And operator, you can start the video now. (video playing)

接線員，您現在可以開始影片了。（影片播放）

As you can see, there are multiple actions that are being done simultaneously to get to the final result, which is going to be setting a meeting just in time with people that were not available earlier, but could be found through our system and be able to find the location, invite the people and automatically navigate you to the location as well as put the schedule on your calendar. All that was done through our generative AI application. And just if you were paying attention, as you saw, the first command was not in clear English in terms of the command. You saw that it showed three years versus three guests, but the system, the LLM was smart enough to understand that you meant three guests was smart enough to understand the preferences of the individual.

正如您所看到的，為了達到最終結果，有多個操作同時進行，這將及時與之前無法聯繫到的人員召開會議，但可以透過我們的系統找到並能夠要找到位置，邀請人員並自動將您導航到該位置並將日程安排到您的日曆上。所有這一切都是透過我們的生成式人工智慧應用程式完成的。如果您注意的話，正如您所看到的，第一個命令在命令方面並不是清晰的英語。你看到它顯示了三年對三位客人，但是係統，法學碩士足夠聰明，可以理解你的意思是三位客人足夠聰明，可以理解個人的喜好。

It got the actions done in a couple of clicks away or a couple of voice commands. And this is the beauty of generative AI in our market. So, I'm super excited about these kind of applications that are going to come through. Operator, we can go back to slide 13. So that's one of the key capabilities that we're launching with our customers.

只需點擊幾下滑鼠或幾個語音命令即可完成操作。這就是我們市場中生成式人工智慧的美妙之處。因此，我對即將出現的此類應用程式感到非常興奮。操作員，我們可以回到投影片 13。這是我們與客戶一起推出的關鍵功能之一。

The next one has been on CXAI VU and Spatial intelligence. And this is a chart of a building, one of our floors in India, one of our customers or trial customers and is showing that you can see the number of buildings and you can see the number of bookings, sorry, in a building. These Manhattan look like little buildings, but they're actually showing the number of bookings being done. And they can see that this is a fully occupied space. The colors represent the number of bookings done, and this is over a week period.

下一篇是關於 CXAI VU 和空間智能。這是一張建築物的圖表，我們在印度的一個樓層，我們的一個客戶或試用客戶，顯示您可以看到建築物的數量，您可以看到建築物中的預訂數量。這些曼哈頓看起來像小建築，但它們實際上顯示了已完成的預訂數量。他們可以看到這是一個完全被佔用的空間。顏色代表已完成的預訂數量，這是一個多星期的時間段。

And the beauty of this is when somebody sees this chart, first of all, they get a spatial view of where things are happening in the space. But then with our CXAI VU analytics engine, we can give you much more insights into what's going on. What are the spaces being preferred, who's preferring them? Why are they choosing certain things, why certain days are more peak than others? And these are the kind of insights that allow managers as well as real estate teams and human resources team to understand the behavior, what's driving it.

這樣做的美妙之處在於，當有人看到這張圖表時，首先，他們可以了解空間中發生的事情的空間視圖。但是，借助我們的 CXAI VU 分析引擎，我們可以讓您更深入地了解正在發生的事情。哪些空間是首選，誰比較喜歡它們？為什麼他們選擇某些事情，為什麼某些日子比其他日子更高峰？這些洞察力使管理者、房地產團隊和人力資源團隊能夠了解行為及其驅動因素。

And based on those behaviors, they can start changing some of those rule engines. So this is super exciting. I think all our customers are having great fun playing with our tools now. They're creating new reports. And every day, we're getting new and new insights for different locations because every location is different.

基於這些行為，他們可以開始更改其中一些規則引擎。所以這非常令人興奮。我認為我們所有的客戶現在都在使用我們的工具中獲得了巨大的樂趣。他們正在創建新的報告。每天，我們都會獲得針對不同地點的新見解，因為每個地點都是不同的。

And that's the need for the market. Today, the BI tools in the market just give you statistics and numbers and are very much noncontextually aware. This gives you contextual awareness. Secondly, it gives you not just insights, I showed the October peaks, it tells you what days specifically where RTU was implemented or was successful and why was it not successful. So, giving you answers and giving you actions after that is super, super important.

這就是市場的需要。如今，市場上的 BI 工具只為您提供統計數據和數字，並且非常不具有上下文意識。這可以讓您了解情境。其次，它不僅為您提供見解，我展示了 10 月的峰值，它還告訴您 RTU 實施或成功的具體日期以及為什麼不成功。所以，給你答案並在之後給你行動是非常非常重要的。

All right. Operator, we can go to the next video, which I'm going to show a new product that we're announcing today, which we've been working very closely with our customers. It's called the CXAI Kiosk. And I'm going to let the video play and then we'll talk about it. (video playing)

好的。接線員，我們可以觀看下一個視頻，我將在其中展示我們今天宣布的新產品，我們一直與客戶密切合作。它稱為 CXAI 資訊亭。我將播放視頻，然後我們將討論它。（影片播放）

This is in our office in San Ramon.

這是我們在聖拉蒙的辦公室。

This is our headquarters. So, we're using our own technology in our own locations. there you go. You can have a room booked in a few clicks and you can be on your mobile phone ready to go to the right destination. So, CXAI Kiosks is our interactive digital signage built on the same principles of CXAI.

這是我們的總部。因此，我們在自己的地點使用自己的技術。就這樣吧。您只需點擊幾下即可預訂房間，然後您就可以使用手機準備前往正確的目的地。因此，CXAI Kiosks 是我們基於 CXAI 相同原理構建的互動式數位看板。

It allows employees to view real-time room desk and space availability to book a space in a few clicks. You saw how our employees just in time, saw a place, figured out they wanted it and would be able to invite other folks, but also connect with them, connect with the system to book a room. And then it takes out all the friction of access. And ultimately, she can now take a QR code and put it on her phone and move on. So, move on to the place.

它允許員工查看即時客房辦公桌和空間可用性，只需點擊幾下即可預訂空間。您看到我們的員工如何及時看到一個地方，發現他們想要它，並且能夠邀請其他人，並且還可以與他們聯繫，與系統連接來預訂房間。然後它消除了所有訪問摩擦。最終，她現在可以將二維碼放在手機上並繼續前進。那麼，繼續前往該地點。

So that's the beauty of having a system that's very agentic in notion. We are also looking at CXAI Kiosks for notification like traffic, weather events, on a big screen, and it allows one of the other key attributes of the solution has, it is support for accessible mode, ensuring all interactive interface elements are within ADA compliant ranges, which is becoming a really important part in offices. So as I walk into a lot of my customers' offices, the first thing is you need to have CXAI Kiosks to get you engaged to the first point of entry into a building, you can get full visibility of your spaces of events happening and then you can take it on your mobile phone. So, we see this as a companion to our existing products. Super excited about it.

這就是擁有一個概念上非常代理的系統的美妙之處。我們也正在尋找 CXAI 資訊亭，以在大螢幕上提供交通、天氣事件等通知，它允許解決方案的其他關鍵屬性之一，即支援可存取模式，確保所有互動式介面元素均符合 ADA 標準範圍，這正在成為辦公室中非常重要的一部分。因此，當我走進許多客戶的辦公室時，第一件事是您需要有 CXAI 資訊亭，讓您在進入建築物的第一個點就參與其中，您可以全面了解正在發生的活動空間，然後您可以將其保存在手機上。因此，我們將其視為我們現有產品的伴侶。對此超級興奮。

We work with an existing customer to work with them to make it the anchor customer. They're stepping up and deploying this. And every other customer of ours is really wanting this. And so, we see this as a huge opportunity for us in Q4 here, but also in 2025. So I want to close this section with just go back, operator, to slide 15.

我們與現有客戶合作，使其成為主力客戶。他們正在加強並部署這一點。我們的所有其他客戶都非常想要這個。因此，我們認為這對我們來說是第四季度以及 2025 年的巨大機會。因此，我想透過返回投影片 15 來結束本節。

As you've seen all these demos, all these capabilities, all the market dimensions, why do people choose CXAI? And I really look into three main items. Number one, we have a great UX UI, a great user experience, great integrations and the workflows that create this great content and capability. Everybody loves our applications, and they love using it. Secondly, we convert complexity into productivity.

正如您所看到的所有這些演示、所有這些功能、所有市場規模，人們為什麼選擇 CXAI？我確實研究了三個主要項目。第一，我們擁有出色的使用者體驗 UI、出色的使用者體驗、出色的整合以及創建出色內容和功能的工作流程。每個人都喜歡我們的應用程序，並且喜歡使用它。其次，我們將複雜性轉化為生產力。

Enterprise are complex beast, lots of different integrations, lots of different security requirements, lots of different overhead in terms of their architecture, but we simplify that into automated workflows. We maintain the enterprise-grade security, and we've become the trusted adviser. They really like the fact that we can provide those recommendations. And last but not least, we deliver now amazing insights with CXAI VU. CXAI VU is really driving them to understand better what is actually happening and how they can improve that.

企業是複雜的野獸，有很多不同的集成，有很多不同的安全要求，在架構方面有很多不同的開銷，但我們將其簡化為自動化工作流程。我們維護企業級安全，我們已成為值得信賴的顧問。他們非常喜歡我們可以提供這些建議。最後但並非最不重要的一點是，我們現在透過 CXAI VU 提供令人驚嘆的見解。CXAI VU 確實促使他們更了解實際發生的情況以及如何改進。

And with all the full platform capability of CXAI, CXAI BTS and CXAI VU, it provides them AI-powered actions and predictable outcomes. So, we believe that these things are also going to be great for the employee because they will also understand what's the value of their capabilities. So that is all about the market. I'm going to now focus on Q3. So, operator, if you can go to slide 16, please, and moving to 17.

憑藉 CXAI、CXAI BTS 和 CXAI VU 的所有完整平台功能，它為他們提供由人工智慧驅動的行動和可預測的結果。因此，我們相信這些事情對員工來說也很有好處，因為他們也會了解自己能力的價值。這就是市場的全部內容。我現在將重點放在第三季。那麼，操作員，請前往投影片 16，然後前往投影片 17。

And before we go into the full financial results and the press release is out, the earnings release is out, the 10-Q is out there, the most important significant thing this quarter is this is our best financial quarter ever. We've had the highest SaaS metrics. Our revenue was $1.9 million. We've had amazing net retention rate, greater than 106%. Our subscription to onetime revenue ratio is the highest ever, 88%, while we've been maintaining healthy gross margin of 80%.

在我們公佈完整的財務業績、新聞稿、收益發布、10 季財報之前，本季最重要的事情是，這是我們有史以來最好的財務季度。我們擁有最高的 SaaS 指標。我們的收入為 190 萬美元。我們的淨保留率非常驚人，超過 106%。我們的訂閱一次性收入比率是有史以來最高的，達到 88%，同時我們一直保持 80% 的健康毛利率。

And net-net, we have an 18% growth in recurring revenue. So, congratulations to our team for working really hard to get those. Thank you to all our great customers who've been supporting us through this process, but this has been a banner quarter for us. Second big highlight is we're on the AWS marketplace. I think with our marketplace on Google last quarter, which was a significant achievement for the team.

我們的經常性收入淨增加了 18%。所以，恭喜我們的團隊為獲得這些付出了巨大的努力。感謝所有在這過程中一直支持我們的偉大客戶，但這對我們來說是一個輝煌的季度。第二大亮點是我們進入了 AWS 市場。我認為上個季度我們在 Google 上的市場對團隊來說是一項重大成就。

This is another milestone we've hit, and we're really excited about working with the AWS team to launch CXAI on it. So that has been a good achievement. The next is we've been working on the new CXAI platform that I've told you since the second quarter here. And I'm happy to report now that we have successfully delivered the first end-to-end AI-based CXAI pilot platform to a leading financial service customer this quarter. This is an important milestone on the path to general availability of the solution to all existing and new customers.

這是我們達到的另一個里程碑，我們非常高興與 AWS 團隊合作在其上推出 CXAI。所以這是一個很好的成就。接下來是我們自第二季以來一直在開發新的 CXAI 平台。我現在很高興地向大家報告，本季我們已成功向一家領先的金融服務客戶交付了第一個基於人工智慧的端到端 CXAI 試點平台。這是向所有現有和新客戶普遍提供該解決方案的道路上的一個重要里程碑。

So great achievement there. And then CXAI VU, as we mentioned earlier, has gained traction with the first paid customer, making general availability for all our clients and significant opportunity for growth. And I showed you the CXAI Kiosk. Next quarter, we'll show you CXAI BTS that is already deployed, but it is a super-secret sauce that we're implementing, but we're going to show you that next quarter. And these new products are really letting us go to the next phase.

那裡取得瞭如此巨大的成就。然後，正如我們之前提到的，CXAI VU 贏得了第一位付費客戶的青睞，為我們所有客戶提供了普遍可用性，並帶來了巨大的成長機會。我向您展示了 CXAI 資訊亭。下個季度，我們將向您展示已經部署的 CXAI BTS，但它是我們正在實施的超級秘密武器，但我們將在下個季度向您展示。這些新產品確實讓我們進入了下一個階段。

All right. With that, I'm going to now transition to my new partner, Joy Mbanugo, who's joined us as our CFO, and she's going to go through the financial results.

好的。至此，我現在將過渡到我的新合夥人喬伊·姆巴努戈 (Joy Mbanugo)，她已加入我們擔任首席財務官，她將負責審核財務業績。

Thank you, Khurram. I'm delighted to join the company at such an exciting time. As CXApp transitions to an AI-native SaaS model, we're seeing an increasing demand for our AI-powered solutions. Operator, if you can move to slide 18, sorry. Yes.

謝謝你，庫拉姆。我很高興在如此令人興奮的時刻加入公司。隨著 CXApp 過渡到人工智慧原生 SaaS 模式，我們看到對人工智慧驅動的解決方案的需求不斷增加。接線員，如果您可以轉到幻燈片 18，抱歉。是的。

We're seeing an increasing demand for our AI-powered solutions, particularly Agentic AI capabilities that are reshaping workplace experiences. Our focus on subscription-based revenue supporting by our investments in these advanced AI features is fostering a sustainable, predictable financial model aligned with our long-term growth. As Khurram mentioned, we have had the best financial results to date. This quarter has highlighted our commitment to operational excellence, effective cash management and the pivots necessary for sustained success. Let's walk through these exciting results.

我們看到對人工智慧驅動的解決方案的需求不斷增加，特別是正在重塑工作場所體驗的代理人工智慧功能。我們專注於基於訂閱的收入，透過對這些先進人工智慧功能的投資來支持，正在培育與我們的長期成長一致的可持續、可預測的財務模型。正如庫拉姆所提到的，我們取得了迄今為止最好的財務表現。本季凸顯了我們對卓越營運、有效現金管理和持續成功所需關鍵的承諾。讓我們來看看這些令人興奮的結果。

First, I'll go through, I'll just give you an overview of all the slides I'm going to go through about four financial results slides.

首先，我將瀏覽一下，我將向您概述我將瀏覽的所有投影片，大約有四張財務業績幻燈片。

So first, I'll focus on the change in SaaS metrics year-over-year, then dive into more financial details quarter over quarter and then the specific details in the 10-Q year-over-year. This particular slide shows how our financial performance over the past year shows our commitment to building a more stable, predictable and growth-oriented business model.

因此，首先，我將重點關注 SaaS 指標的同比變化，然後深入了解每個季度的更多財務細節，然後是 10 個季度同比的具體細節。這張特別的幻燈片展示了我們過去一年的財務表現如何表明我們致力於建立更穩定、可預測和以成長為導向的商業模式。

So first, if we look at revenue, as Khurram mentioned, revenue increased 7% from $1.77 million in Q3 2023, up to $1.89 million Q3 2024. Recurring revenue, which is really important to note, has also increased 8% up to 88% from 80% in previous year.

首先，如果我們看一下收入，正如 Khurram 所提到的，營收從 2023 年第三季的 177 萬美元成長了 7%，達到 2024 年第三季的 189 萬美元。值得注意的是，經常性收入也從去年的 80% 成長了 8% 至 88%。

So, what the company has been focused on is moving away from professional services, onetime contracts to recurring three-year multi-annual, didn't have to be three-year but multiyear contracts. Furthermore, I talked about that already, our NRR stands at 106%, which is a significant increase from previous year, about a 43% increase year over year, indicating strong client retention and upselling success.

因此，該公司一直關注的重點是從專業服務、一次性合約轉向經常性的三年期多年合同，不一定是三年期而是多年期合約。此外，我已經說過，我們的NRR為106%，比去年有顯著增長，同比增長約43%，這表明客戶保留率很高，追加銷售也取得了成功。

This metric reflects the trust our clients place in our solutions and the value we continue to deliver, fostering deeper relationships and expanding our revenue potential. This also piggybacks on the concept that Khurram has talked about in previous quarters on land and expand and shows our clients are sticking with us and buying more products, and hopefully, we'll continue to see that as we move into more AI features.

該指標反映了客戶對我們解決方案的信任以及我們持續提供的價值，從而培養了更深的關係並擴大了我們的收入潛力。這也藉鑒了Khurram 在前幾季度談到的陸地和擴張概念，並表明我們的客戶堅持使用我們併購買更多產品，希望隨著我們進入更多人工智能功能，我們將繼續看到這一點。

Furthermore, and very important to note, we achieved a 22% reduction in non-GAAP OpEx, decreasing from $4.1 million in Q3 2023 to $3.239 million in Q3 2024. This reduction is attributed to cost-cutting measures, including workforce optimization and a more focused marketing strategy without compromising our R&D investments. As mentioned again, as mentioned before, this reflects our disciplined approach to optimizing expenditures while continuing to support critical areas that foster innovation and growth.

此外，值得注意的是，我們的非 GAAP 營運支出減少了 22%，從 2023 年第三季的 410 萬美元減少到 2024 年第三季的 323.9 萬美元。這項減少歸因於成本削減措施，包括勞動力優化和更集中的行銷策略，同時又不影響我們的研發投資。正如之前所提到的，這反映了我們在優化支出的同時繼續支持促進創新和成長的關鍵領域的嚴格方法。

Our investments in R&D, particularly in AI-driven solutions remain a top priority, allowing us to stay ahead in delivering value-added technology to our clients while maintaining a lean approach in other expense areas. Furthermore, and probably most notably, is our cash-based losses narrowed by 43%, which is tremendous. Q3 2023 cash-based loss was $2.36 million and narrowed down to $1.15 million, sorry, $1.324 million in Q3 2024.

我們在研發方面的投資，特別是在人工智慧驅動的解決方案方面的投資仍然是重中之重，這使我們能夠在向客戶提供增值技術方面保持領先地位，同時在其他費用領域保持精益方法。此外，也許最值得注意的是，我們的現金損失縮小了 43%，這是一個巨大的數字。2023 年第三季現金損失為 236 萬美元，2024 年第三季收窄至 115 萬美元，抱歉，為 132.4 萬美元。

Overall, our disciplined cost control and cash flow management has brought us significantly closer to cash flow positivity, underscoring the strength of our financial strategy.

總體而言，我們嚴格的成本控制和現金流量管理使我們更接近現金流正值，凸顯了我們財務策略的優勢。

Looking ahead, we remain focused on expanding our subscription base, deepening partnerships and maximizing value and a commitment to profitability. Next, I'd like to discuss more. Operator, you can move to the next slide. I'd like to discuss more just a little bit about expense management.

展望未來，我們仍專注於擴大訂閱基礎、深化合作夥伴關係、實現價值最大化以及對獲利能力的承諾。接下來，我想進一步討論一下。操作員，您可以移至下一張投影片。我想多討論一下費用管理。

There's not a slide on this, but just to discuss it as we talk about how OpEx continues to decline. Expense management will remain central to our strategy to achieve cash flow breakeven, balancing rigorous cost control with strategic investments in product development. That will be a big focus for us. This approach ensures we continue to drive future profitability while sustaining our competitive edge.

沒有關於此的幻燈片，只是在我們討論營運支出如何持續下降時進行討論。費用管理仍將是我們實現現金流收支平衡的策略的核心，平衡嚴格的成本控制與產品開發的策略投資。這將是我們的一個重點。這種方法確保我們繼續提高未來的獲利能力，同時保持我們的競爭優勢。

Our disciplined resource allocation enables targeted investment in high-impact areas such as AI, R&D and product innovation, reinforcing both our financial resilience and commitment to delivering cutting-edge solutions.

我們嚴格的資源分配使我們能夠對人工智慧、研發和產品創新等高影響力領域進行有針對性的投資，從而增強我們的財務彈性和對提供尖端解決方案的承諾。

Now I'll talk about quarter-over-quarter in a bit more detail. As previously mentioned, both quarter-over-quarter and year-over-year results increased. So, I covered a little bit of this already, but let's go in a bit more detail as you'll see this in the 10-Q. Revenue increased from $1.76 million to $1.89 million, about a 7% increase. Gross profit increased and loss from operations narrowed from $3.65 million to $3.32 million.

現在我將更詳細地討論季度環比。如前所述，季度環比和年比業績均有所增長。我已經對此進行了一些介紹，但讓我們更詳細地介紹一下，您將在 10-Q 中看到這一點。營收從 176 萬美元增加到 189 萬美元，成長約 7%。毛利增加，營運虧損從 365 萬美元收窄至 332 萬美元。

We have also been able to hold gross margin steady at about 80%, and this will continue to remain one of our core metrics as we saw on the previous slide.

我們還能夠將毛利率穩定在 80% 左右，正如我們在上一張投影片中看到的那樣，這將繼續是我們的核心指標之一。

Notably, if we look at total operating expenses without any context, the total OpEx seems high, particularly G&A. However, we want to just mention, if you dig a bit more into G&A, there's about $900,000 of noncash stock-based comp in that number. So adjusting for that would give you a much lower G&A number. Our focus will continue to be leveraging our strategic investments to drive growth while maintaining strict cost discipline.

值得注意的是，如果我們在沒有任何背景的情況下查看總營運支出，總營運支出似乎很高，尤其是一般管理費用。然而，我們只想提一下，如果你更深入地研究 G&A，你會發現這個數字中有大約 90 萬美元的非現金股票補償。因此，對此進行調整將使您的總費用和行政費用數字低得多。我們的重點將繼續利用我們的策略投資來推動成長，同時保持嚴格的成本控制。

This approach supports our trajectory towards achieving cash flow breakeven and reinforces our resilience in a very competitive and growing market. Operator, next slide. So now I'll talk about year-over-year growth, which we talked about a little bit, but let's dive into a bit more detail as you'll also see this in our 10-Q.

這種方法支持我們實現現金流損益平衡的軌跡，並增強我們在競爭激烈且不斷成長的市場中的應變能力。操作員，下一張投影片。現在我將討論同比增長，我們對此進行了一些討論，但讓我們更深入地討論一下，因為您也會在我們的 10-Q 中看到這一點。

Our revenues grew by 7% year over year, increasing from $1.77 million in Q3 2023 to $1.89 million in Q3 2024. As mentioned, this increase reflects our ongoing traction and growth in our current customer base.

我們的營收年增 7%，從 2023 年第三季的 177 萬美元增至 2024 年第三季的 189 萬美元。如前所述，這一成長反映了我們目前客戶群的持續吸引力和成長。

Despite revenue growth, our total operating expenses dropped by 14% from $5.64 million down to $4.85 million. This decline highlights our continued commitment to cost efficiency and especially in areas like sales and marketing, as you can tell, were significantly reduced.

儘管收入成長，但我們的總營運支出下降了 14%，從 564 萬美元降至 485 萬美元。這種下降凸顯了我們對成本效率的持續承諾，特別是在銷售和行銷等領域，如您所知，顯著減少。

As a result, we achieved a 21% reduction in our operating loss, improving from a loss of $4.22 million or $4.23 million in Q3 2023 to $3.3 million this quarter. This decrease demonstrates our successful focus on disciplined spending alongside revenue growth. Lastly, our gross profit improved by 8%, reaching $1.52 million, showing that our revenue growth and cost management are both contributing to possible profitability in the future.

結果，我們的營運虧損減少了 21%，從 2023 年第三季的虧損 422 萬美元或 423 萬美元改善到本季的 330 萬美元。這一下降表明我們成功地專注於嚴格的支出和收入成長。最後，我們的毛利提高了 8%，達到 152 萬美元，這表明我們的收入成長和成本管理都有助於未來可能的獲利能力。

In summary, the progress we've made over the past year and quarter-over-quarter is a testament to the soundness of our strategy and the dedication of our entire team to achieving financial resilience. Looking ahead, our commitment to Agentic AI, innovation and cloud scalability strengthens CXApp's position in the market and accelerates our path towards cash flow positivity. With AI at the core, CXApp is poised to lead transformation in the workplace experience technology, delivering intelligent outcome-based solutions that meet the evolving needs of modern enterprises.

總而言之，我們在過去一年和季度環比所取得的進展證明了我們策略的健全性以及我們整個團隊為實現財務彈性所做的奉獻。展望未來，我們對 Agentic AI、創新和雲端可擴展性的承諾將鞏固 CXApp 在市場中的地位，並加速我們邁向積極現金流的道路。以人工智慧為核心，CXApp 準備引領工作場所體驗技術的變革，提供基於成果的智慧解決方案，滿足現代企業不斷變化的需求。

Operator, next slide. So this slide, Khurram will talk a little bit about this as well, but I'd like to just make a couple of notes about this.

操作員，下一張投影片。因此，在這張投影片中，Khurram 也會對此進行一些討論，但我只想對此做一些說明。

We're really excited about our cloud partnerships and being listed on both AWS marketplace and on Google Marketplace. I actually worked at Google. So, my background at Google Cloud gives me a first-hand understanding of the strategic advantages that major cloud providers offer through their marketplaces. I've seen the impact that advanced infrastructure and robust AI tools can have on solutions, scalability, and cost efficiency for our clients. I'm confident that these 2 partnerships will drive CXAI's continued growth and help us deliver even greater value to our clients.

我們對我們的雲端合作夥伴關係以及在 AWS 市場和 Google Marketplace 上的上市感到非常興奮。我實際上在谷歌工作過。因此，我在 Google Cloud 的背景讓我對主要雲端供應商透過其市場提供的策略優勢有了第一手的了解。我看到了先進的基礎設施和強大的人工智慧工具對我們客戶的解決方案、可擴展性和成本效率的影響。我相信，這兩個合作夥伴關係將推動 CXAI 的持續成長，並幫助我們為客戶提供更大的價值。

Next?

下一個？

Yes. Thank you, Joy. And Joy has been great to joining us, not only helping us on the finance side, but given her background with Google Cloud has really been instrumental in moving forward in this direction. So when we think about the overall landscape, I think the cloud partners are strategic to us. The reason is because we host our applications on the cloud.

是的。謝謝你，喬伊。Joy 非常高興加入我們，不僅在財務方面為我們提供了幫助，而且考慮到她在 Google Cloud 的背景，在朝著這個方向前進方面確實發揮了重要作用。因此，當我們考慮整體格局時，我認為雲端合作夥伴對我們來說具有戰略意義。原因是因為我們將應用程式託管在雲端。

Our customers are all cloud-based, and it is a natural extension of their enterprise environment with CXAI. So, it is super important. And I think this was something that we've been working on, and we're very proud that we now will have deployments in all the three cloud providers from a hosting side. I think that is super important. Some of the use cases I shared with you are all real customer use cases for deployment.

我們的客戶都是基於雲端的，這是他們企業環境與 CXAI 的自然延伸。所以，這是非常重要的。我認為這是我們一直在努力的事情，我們非常自豪我們現在將在託管方面的所有三個雲端提供者中進行部署。我認為這非常重要。我與您分享的一些用例都是真實的客戶部署用例。

And all of those customers want security and reliability, and we are moving in a direction where some of the CXAI features are must-haves now. And when you become a must-have, then you need heightened quality, reliability, and security, and this is what we get with our partnerships with the cloud providers. And now with the multi-cloud capability, our customers can choose whichever cloud provider they want to work with us and get the same level of scalability and security, and monitoring that they expect. I think that's super important. The other thing for us as a business, it's important to get cost efficiency.

所有這些客戶都需要安全性和可靠性，我們正在朝著一些 CXAI 功能現在必須具備的方向發展。當您成為必需品時，您就需要更高的品質、可靠性和安全性，而這正是我們與雲端供應商合作所獲得的。現在，借助多雲功能，我們的客戶可以選擇他們想要與我們合作的任何雲端供應商，並獲得他們期望的相同程度的可擴展性和安全性以及監控。我認為這非常重要。對我們企業來說，另一件事是獲得成本效率也很重要。

As you know, with AI-based solutions, cloud consumption becomes a key metric. And we want to make sure we're efficient in that sense. So this is where having multi-cloud capability gives us that cost efficiency. Joy talked about the go-to-market, given when you look at all the different partners in the market that can help CXAI reach its height, the cloud providers are our best partners because today, it takes a lot of effort for us to onboard these large Fortune 1000 customers, not only from what it takes to build the application, but what it takes to get the agreements in place, the MSAs in place and to get the overall engagement solidified, takes a lot of effort and being a small company, it takes a lot of bandwidth on our side.

如您所知，透過基於人工智慧的解決方案，雲端消耗成為關鍵指標。我們希望確保我們在這個意義上是有效率的。因此，這就是多雲功能為我們帶來成本效益的地方。Joy 談到了進入市場，考慮到市場上所有可以幫助 CXAI 達到其高度的不同合作夥伴，雲端供應商是我們最好的合作夥伴，因為今天，我們需要付出很多努力才能加入這些財富1000 強的大型客戶不僅需要建立應用程序，還需要付出大量努力才能達成協議、MSA 並鞏固整體參與度，而且作為一家小公司，需要付出大量努力，這需要我們這邊大量的頻寬。

So, if we can leverage the marketplaces to onboard prospective customers faster, that's great. That helps us. And also, it helps us in terms of scalability, scaling those customers to the next level. So, we think it's a natural fit. We are partnering with all of the cloud providers. We are really happy with our partnership with Google Cloud.

因此，如果我們能夠利用市場更快吸引潛在客戶，那就太好了。這對我們有幫助。而且，它在可擴展性方面也幫助我們，將這些客戶擴展到一個新的水平。所以，我們認為這是一個自然的契合。我們正在與所有雲端提供者合作。我們對與 Google Cloud 的合作感到非常滿意。

And so, we are excited that we have these new cloud providers supporting us. So again, more to come in the coming quarters but the immediate benefits for us are the ability to get our cost structure in line, improve our AI capabilities, and provide the security and monitoring capabilities that are super critical for our business and then partner with them as we scale up our customer base. I'm going to ask the operator to move to the last slide. So, this is our summary slide, and we'll have some questions have come in, so we'll have those be presented well. And maybe we should go to some questions first before we finalize.

因此，我們很高興有這些新的雲端供應商支援我們。因此，未來幾季還會有更多的事情發生，但對我們來說直接的好處是能夠使我們的成本結構保持一致，提高我們的人工智慧能力，並提供對我們的業務非常重要的安全和監控能力，然後與當我們擴大我們的客戶群時，他們就會這樣做。我要請操作員移至最後一張投影片。這是我們的總結投影片，我們會提出一些問題，所以我們會很好地呈現這些問題。也許我們應該在最終確定之前先解決一些問題。

So, I think we have a couple of questions here.

所以，我想我們有幾個問題。

There's one question from Dennis Cuetino at Biotech. Dennis, how has new management impacted growth at CXAI?

生技公司的 Dennis Cuetino 有一個問題。Dennis，新管理層對 CXAI 的成長有何影響？

Great question, Dennis. Yes, new management has really impacted growth at CXAI. Joy coming on board has been a really breath of fresh air for me to help in terms of the financial strategy, but also partnership with the Google Cloud providers. We've had a lot of new talent coming into the company since we went public.

很好的問題，丹尼斯。是的，新管理層確實影響了 CXAI 的成長。加入的喜悅對我來說確實是一股新鮮空氣，不僅在財務策略方面提供了幫助，而且在與 Google Cloud 提供商的合作方面也提供了幫助。自從我們上市以來，我們已經有很多新的人才進入公司。

So there has been new talent, but I am super excited about also bringing new talent on board as you grow the company across the board. And we really are working together really well. So, Joy, do you want to add something to that?

因此，出現了新的人才，但我非常高興在公司全面發展的過程中引入新的人才。我們確實合作得非常好。那麼，喬伊，你想補充一些東西嗎？

I think just joining at an exciting time and seeing all the work the team is doing behind AI, there's a funny picture I have of Khurram on one side and the team on the other kind of talking about the app and the analytics, and it's just very exciting to see. So, I'm excited about the growth that we'll see from this area.

我認為在一個激動人心的時刻加入並看到團隊在人工智慧背後所做的所有工作，我有一張有趣的照片，一側是 Khurram，另一側的團隊正在談論應用程式和分析，這只是非常令人興奮。因此，我對我們將在該領域看到的成長感到興奮。

Yes. All right. I have another question from Max Gerber. Question is, could you partner with Palantir to implement AIP. And if I understand correctly, AIP is their Artificial Intelligence Platform from Palantir.

是的。好的。我還有一個來自馬克斯‧格伯的問題。問題是，你們能否與 Palantir 合作實施 AIP。如果我沒理解錯的話，AIP 是 Palantir 的人工智慧平台。

That's a great suggestion, Max.

這是一個很好的建議，麥克斯。

I have not thought about it because we really are not working in the government sector as yet. We're working with commercial customers, but we know some of the folks at Palantir, and we'll definitely see what we can do there. Ideally, we want to be really in the commercial space and focused on solutions that are commercially available. We're not going into any specific defense department contracts or others for now. At the same time, we do believe that there is an interesting opportunity there, and we will definitely reach out and see what we can do there.

我還沒有考慮過這個問題，因為我們還沒有真正在政府部門工作。我們正在與商業客戶合作，但我們認識 Palantir 的一些人，我們一定會看看我們能在那裡做什麼。理想情況下，我們希望真正進入商業領域，並專注於商業化的解決方案。我們目前不會簽訂任何具體的國防部合約或其他合約。同時，我們確實相信那裡有一個有趣的機會，我們一定會伸出援手，看看我們能在那裡做什麼。

But going back to our core, like I said, why do people buy CXAI is that we have a great UI, we have amazing insights, and we have a generative AI solution that really takes in all the customer experience, employee experience, right? And for that, we need enterprises who are willing to engage to allow the employee to have those experiences. So, part of the plan is mostly allowing the leading employers who are willing to provide that flexibility to their employees. So, if that's happening in those spaces, we'll definitely be there. But right now, our focus is to scale up within the commercial segment.

但回到我們的核心，就像我說的，人們為什麼購買CXAI 是因為我們有很棒的UI，我們有驚人的洞察力，而且我們有一個真正吸收所有客戶體驗、員工體驗的生成式AI 解決方案，對嗎？為此，我們需要願意讓員工獲得這些體驗的企業。因此，該計劃的一部分主要是允許願意為員工提供這種靈活性的主要雇主。因此，如果這些空間發生這種情況，我們肯定會在那裡。但現在，我們的重點是擴大商業領域的規模。

And then I have one more question from Jack Cordero at the Maxim Group. Can you detail your partnership with Google Cloud is progressing?

接下來，馬克西姆集團的傑克·科德羅（Jack Cordero）向我提出了一個問題。您能否詳細介紹一下您與 Google Cloud 的合作進度？

And so, on that, maybe I'll start, and then Joy can jump in. We've had really great working sessions and meetings with the Google team. They have really helped us get the message out to all their client bases. We're working with all the ISV channel partners.

所以，也許我會開始，然後喬伊可以介入。我們與 Google 團隊進行了非常精彩的工作會議和會議。他們確實幫助我們向所有客戶群傳達了訊息。我們正在與所有 ISV 通路合作夥伴合作。

We've been invited to a lot of Google Cloud conferences. So we're really starting that engagement process. So that's happening on the go-to-market side. And on the product side, I think you're going to see a lot of new innovations in the coming months coming in that are powered through Google Cloud's AI capabilities. I won't name them right now, but you will be seeing those capabilities being implemented.

我們受邀參加了許多 Google Cloud 會議。所以我們真正開始了參與過程。這就是在進入市場方面發生的情況。在產品方面，我認為您將在未來幾個月看到許多由 Google Cloud 的 AI 功能提供支援的新創新。我現在不會說出它們的名稱，但您將看到這些功能正在實現。

CXAI VU is also implemented with Google Cloud partnership as an example. And then there are other features that we are deploying that are really going to leverage all the innovation that the Google Cloud team is doing. So that relationship is working very well. We actually have Google Cloud representative in our offices nearly every day. There's a lot of collaboration going on, a lot of engagement, and we're really excited that Google is working with us so closely.

CXAI VU 也是與 Google Cloud 合作夥伴實現的。我們正在部署的其他功能確實將利用 Google Cloud 團隊正在進行的所有創新。所以這種關係運作得很好。事實上，我們的辦公室幾乎每天都有 Google Cloud 代表。我們正在進行大量的合作、大量的參與，我們對 Google 與我們如此密切的合作感到非常興奮。

Maybe, Joy, you can jump in.

也許，喬伊，你可以加入。

Yes. I think this is a great opportunity for our clients who are hosted on Google Cloud to use up some of their commits. So, we're looking at opportunities there and not just current customers but new customers that are coming on in the future. So, there's a unique and great opportunity for us to continue to grow through our cloud partnerships, and we'll continue to work on this in the future.

是的。我認為這對託管在 Google Cloud 上的客戶來說是一個很好的機會，可以用完他們的一些承諾。因此，我們正在尋找機會，不僅是現有客戶，還有未來出現的新客戶。因此，我們有一個獨特且巨大的機會可以透過我們的雲端合作夥伴關係繼續發展，未來我們將繼續致力於此。

Okay. Good. I think those are the questions we had. So I'm going to jump to the last slide here, which is why CXAI. And I want to recap the investment highlights I see unfolding here shortly.

好的。好的。我想這些都是我們的問題。所以我要跳到最後一張投影片，這就是 CXAI 的原因。我想回顧一下我在這裡看到的投資亮點。

CXAI continues on its business transformation journey to an AI-native SaaS model with continued positive trending of key SaaS metrics. We are excited to have achieved significant milestones in the product delivery to meet our customers' expectations that has resulted in continued growth for the past year leading to our best financial quarter.

CXAI 繼續其向 AI 原生 SaaS 模式的業務轉型之旅，關鍵 SaaS 指標持續呈現正面趨勢。我們很高興在產品交付方面實現了重要的里程碑，以滿足客戶的期望，這導致了過去一年的持續成長，從而實現了我們最好的財務季度。

The amazing innovations from our team with our analytics platform, CXAI VU, and the unique CXAI Kiosks position us well for exceeding our customers' expectations to provide the best employee experience solution in the market. The future of work is one of the biggest issues of our century, and every single enterprise globally is looking to find solutions for the digital workplace and workforce. And so we are super excited that with the team we have, with the continued growth we're seeing with our customer base, and with the partnerships we're doing in Silicon Valley that we will be able to deliver this new software category of employee experiences.

我們的團隊透過我們的分析平台、CXAI VU 和獨特的 CXAI 資訊亭進行了驚人的創新，使我們能夠超越客戶的期望，提供市場上最佳的員工體驗解決方案。工作的未來是本世紀最大的問題之一，全球每個企業都在尋找適合數位工作場所和勞動力的解決方案。因此，我們非常興奮，憑藉我們的團隊、我們的客戶群的持續成長以及我們在矽谷的合作夥伴關係，我們將能夠為員工提供這種新的軟體類別經驗。

CXAI stands uniquely positioned to lead the category and shape the employee and workplace experience landscape given the ongoing digital transformation of nearly all enterprises globally. And as we like to say, to the CXAI and beyond. Thank you, everybody, and look forward to the next earnings call.

鑑於全球幾乎所有企業正在進行的數位轉型，CXAI 處於獨特的地位，能夠引領該類別並塑造員工和工作場所體驗格局。正如我們想說的，對 CXAI 及其他領域。謝謝大家，期待下次的財報電話會議。

Thank you.

謝謝。

This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.

今天的會議到此結束，此時您可以掛斷電話了。感謝您的參與。