CXApp (CXAI) Stock Soars After Hours: Why Is It Moving?

Benzinga06-04 13:56

CXApp Inc (NASDAQ:CXAI) shares surged 72.74% to $0.28 in after-hours trading on Wednesday after the company announced the acquisition of EngineRoom, an AI-powered growth intelligence platform. CXApp ...

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The company said EngineRoom is expected to contribute about $8.1 million in annual revenue, with around 94% of that revenue recurring.\nCXApp said the acquisition will add more than 50 customer relationships and create additional opportunities for its Agentic AI SKY platform. The company said the combined business will offer AI-powered solutions across industries including healthcare, financial services, education, technology and professional services.\nCEO Khurram Sheikh said the acquisition represents an important step toward building a global AI platform focused on helping organizations automate workflows, improve productivity and optimize performance through intelligent agents.\nCXApp has a market capitalization of approximately $15.6 million. 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