CXApp Inc.
CXAI Technology Software Application
CXApp Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.6 million, down 35.8% from fiscal 2024. In the quarter to June 2026, revenue grew 38.5%, EPS grew 37.5%, free cash flow grew 23.9% and total debt rose 33.6%, each against the same quarter a year earlier.
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CXApp Inc. (CXAI) Altman Z-score
CXApp Inc.'s Altman Z-score for fiscal 2025 is −5.05, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −5.05 | (1.35) |
| FY2024 | −3.70 | 2.31 |
| FY2023 | −6.01 | (356.94) |
| FY2022 | 350.93 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.22 | — | 0.26 | |
| Retained earnings / total assets | (2.80) | — | −3.91 | |
| EBIT / total assets | (0.54) | — | −1.79 | |
| Market value of equity / total liabilities | 0.42 | — | 0.25 | |
| Sales / total assets | 0.14 | — | 0.14 | |
| Altman Z-score | Distress zone | −5.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −10.53 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| WCT Wellchange Holdings Company Limited compare | −1.1× |
| ORKT Orangekloud Technology Inc. compare | −2.1× |
| JTAI Jet.AI Inc. compare | −3.6× |
| CAUD Collective Audience, Inc. compare | −4.6× |
| CXAI CXApp Inc. | −5.0× |
| AMST Amesite Inc. compare | −12.6× |
| RMSG Real Messenger Corporation compare | −40.6× |
| LDTCF LeddarTech Holdings Inc. compare | −77.2× |
| ILLR Triller Group Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets