CXApp Inc (NASDAQ:CXAI) shares are surging Thursday after the company announced it is acquiring EngineRoom, an AI platform built to help organizations track growth and performance.
CXApp shares are climbing with conviction. What’s driving CXAI stock higher?
What The EngineRoom Deal Adds
CXApp said the acquisition will lift its annual revenue run rate from about $4 million to more than $12 million once the integration is complete. The company expects EngineRoom to contribute roughly $8.1 million in yearly revenue, with about 94% of that total coming from recurring sources.
CXApp also projects that the deal will add about $1.6 million in adjusted EBITDA.
