CXApp Inc. appoints tech veteran Terry Blanchard as SVP

PALO ALTO, CA - CXApp Inc. (NASDAQ:CXAI), a leader in employee workplace experience technology with an impressive 80.62% gross profit margin, announced today the appointment of Terry Blanchard as their new Senior Vice President of Engineering. The company, currently valued at $13.51 million in market capitalization, has seen its stock trading near 52-week lows of $0.80. Blanchard, with over three decades of experience at companies like Apple, WhatsApp, Microsoft, and NVIDIA, will report directly to Chairman and CEO Khurram Sheikh.

In his new role, Blanchard is tasked with leading the global engineering team and driving the development of advanced AI technologies aimed at enhancing how employees interact with their work environments. His expertise in software architecture, AI, machine learning, and cloud infrastructure is expected to accelerate CXAI’s product offerings and technical strategy.

Blanchard expressed enthusiasm about his new position, highlighting CXAI’s impressive portfolio and his commitment to pushing the limits of workplace technology. "Together, we’ll create technologies that deliver measurable business value while setting new standards for employee and workplace engagement," he said.

Sheikh welcomed Blanchard, praising his extensive experience and passion for creating scalable user experiences. "I look forward to working with Terry in building the best in class Agentic AI solutions for transformational employee experiences," Sheikh added. According to InvestingPro analysis, while CXAI maintains strong gross margins, the company faces immediate challenges with cash burn and short-term obligations exceeding liquid assets.

CXApp Inc., headquartered in the San Francisco Bay Area, operates a SaaS platform at the intersection of customer experience (CX) and artificial intelligence (AI), offering digital transformation solutions for the workplace. Their client roster includes Fortune 1000 companies across various industries. InvestingPro analysis suggests the stock is currently undervalued, with 13 additional ProTips and comprehensive financial metrics available to subscribers, including detailed insights into the company’s growth potential and financial health.

This announcement is based on a press release statement from CXApp Inc. and contains forward-looking statements regarding the company’s future performance and strategies. These statements are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those projected.

In other recent news, CXApp Inc. has issued new equity shares as part of a transaction involving the partition of promissory notes. According to a filing with the Securities and Exchange Commission, the company issued 1,213,809 shares of common stock to a note holder at prices ranging from $1.57 to $1.83 per share. This exchange was conducted under several agreements dated from December 9 to December 26, 2024, and was executed under Section 3(a)(9) of the Securities Act of 1933. The transaction allowed CXApp Inc. to reduce the outstanding balance of a promissory note by approximately $2,027,500, exchanging the partitioned notes for common stock. No additional consideration was required from the holder, and no commissions or remuneration were involved in the transaction. As a result, the company’s outstanding shares of common stock increased to 18,641,170 as of December 26, 2024. These developments are part of CXApp Inc.’s recent strategic financial maneuvers.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.