Earnings Call Transcript - CXAI Q2 2025

Khurram Parviz Sheikh, Chairman and CEO

Thank you, operator. Good afternoon, everybody. I'm joined today by our CFO, Joy Mbanugo, as well, and we are both excited to share with you our earnings for the second quarter of 2025. We will also provide an overall business update on our progress in shaping the future of work and creating transformative employee experiences with our state-of-the-art Agentic AI platform, CXAI pronounced sky. By now, everyone should have access to our earnings press release as well as the 10-Q that was filed with the SEC. This information will also be found on our website, www.cxapp.com or www.cxai.ai. With that, I'm going to move to the next couple of slides, which are disclaimer slides. You can read it at your leisure after the earnings call. So I'm not going to go through each of the slides but kind of show you the disclaimer slides. Okay. So I want to start by giving you a snapshot of the company. The CXAI platform is anchored on customer experience, CX, and artificial intelligence, AI is the most advanced technology solution transforming people, places, and things in the workplace. We are solving the biggest problems in our industry post the pandemic, namely the return to office, RTO, and employee engagement. So, before I get into the specifics, what if planning your entire workday took seconds? That's what we can do with CXAI. We can schedule meetings, desks, parking, and catering in a New York minute. We can keep you spatially aware of events, even food trucks, even help you hit your step goals without missing a meeting. This is the future of the workplace, and it's closer than you think. I know we've been talking about this for a while, but we are here now with the CXAI platform being deployed across the world with all our great customers. We as a company are located in the San Francisco Bay Area with regional tech hubs globally. The global presence and diversity of experiences give us a leading edge as we shape the future of work everywhere. Of the 65-plus team members at CXAI, more than 70% are engineers focused on building agentic AI solutions and maintaining our technology and product leadership. The culture of CXAI is innovation-focused with three core values: purpose, passion, and positivity. We are passionate about solving the big problems in future work using AI, and we are extremely positive about creating a new paradigm of digital transformation in the enterprise focused on employee experiences. We believe the employee is at the center of this multibillion-dollar growing workplace experiences market, and we're creating a new category in software, employee experiences. The CXAI platform is based on 39 filed patents, with 19 of them already granted. We actually had one new patent granted this quarter. We'll talk about it later in the slides, but it's tied to our multidimensional mapping and object orientation technology. We are super proud to have some of the largest logos in the world as our customers that are at the leading edge of employee experience transformation. Our customers are sophisticated buyers of technology solutions and do not compromise on quality, performance, security, reliability, scalability, and the technology roadmap. One of the key differentiators for our business is that we have strong security and compliance credentials globally. We have both ISO 27001 and SOC 2 compliance certifications. We just recently went through this compliance and were successful in achieving them. And that is the reason why you see so many logos from regulated industries in finance, health care, entertainment, and technology. They use CXAI because they know they can trust us with their data and their enterprise security growth. If you ask me in a nutshell, what is our focus? Our focus is really on creating amazing employee experiences that drive engagement to provide actionable insights for our enterprise clients. So let me talk a little bit about what our architecture is and what the products are, and we'll talk about the market and what our results for 2025 Q2. So the CXAI platform is really an AI-first platform that is driven towards a mobile and cloud-first architecture. We were the first to develop the mobile application in this space. We were the first to be cloud-first, and now we're the first deploying the AI-native application. As you think about this application platform, it is not just about the app. It's also about the infrastructure and the back-end architecture that we've developed and deployed now that's really creating these amazing experiences. So when you think about our app, it's a multi-OS app; it could be Android, it could be iOS, it could be on any of those platforms, but it is driven towards multiple devices from the mobile device to the laptop to even large-sized kiosks, and we will also be on watches as well. We are creating that environment that allows this multi-OS and multi-device capability. The brains behind all of this is the BTS, which is the behind-the-scenes solution that drives their management. And finally, CXAI view ties it all together with actionable insights and analytics that drive user behavior but also drive the enterprise. And all of this is tied to our strategic partners on the cloud. Google Cloud is our biggest strategic partner, but we now have relationships with Azure and with AWS, and we're partnering with all three of the cloud providers to provide these end-to-end solutions to our esteemed customers. So now the question is, how does this architecture manifest into customer experiences? And when we think about customer experiences, we think about four pillars. The first pillar is this unified employee experience, which integrates 100-plus enterprise tools and functionalities into a seamless employee experience on one single pane of glass. So from a user perspective, you don't have to go anywhere besides CXAI if you want to get your work done. The second part is spatial intelligence, a key part of the CXAI technology stack, focusing on optimizing physical spaces and enhancing interactions within the workplace through multidimensional mapping technologies. The third part is experiential analytics. The use of AI to drive 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. Finally, Agentic AI boosts efficiency and productivity by enabling multimodal activated tasks like scheduling meetings with a simple command and features like search and discovery. This streamlines administrative duties, driving efficiencies and convenience for employees as well as personalization for on-demand knowledge augmentation. This is the future. This is the future that's here now with us. So when we think about the CXAI platform, we’ve been talking about the technology. But now from the last quarter, we have actually been out there in the market talking about our marketing initiatives, our branding. Our small marketing team has actually done an amazing job this quarter with three main initiatives. Number one, sharing case studies and trend reports based on the actual user data and experiences from our global deployments. We've got around 200-plus cities covered. We have 50-plus countries covered. We have deployments all over the globe. And now we're sharing all of the use cases and the case studies that drive the value, the ROI for the end user. Secondly, we've been starting to work on podcasts on key industry topics. The first one was actually with me with Chris Daigle, who runs ChiefAIOfficer.com. We had a really great off-the-cuff 60-minute podcast that has had a strong response on social media. Feel free to check it out on the attached link. Trust me, it will be 60 minutes of fun as we talk about not only the capabilities of our platform, but the unique experiences we've found with our clients that are enabling this amazing experience. Finally, we're going to be talking more about the people that make up CXAI, the human side. We are an AI-first enterprise where everyone in the team, whether they are in sales, marketing, finance, engineering, or DevOps, all use AI. And as you can see, the first video we have is of our CFO, Joy, who's on the call, who's an amazing finance expert, but she's passionate about AI. You can see that she has a lot to say about AI, and she’s also a user of AI. And basically, every single employee at CXAI is using AI. It's also part of our Google partnership where we get access to Gemini enterprise access. But my expectation is clear to the team: if you do not use AI in your job function, you will be left behind. I'm proud to say that every team member on CXAI is using it, and we're finding a lot of great capabilities and efficiencies because of that. So that's a little bit about the company and what we do. But let me talk about the market. Let me talk about what's happened since we last talked to you about the market. And the headline is that the corporate real estate world is getting compressed. No pun intended, for the first time in modern history, the U.S. is set to lose more office space than it builds. Let that sink in. That's an interesting phenomenon driven by the fact that employees don't want to spend more money on space. They are fine with the space they have. The more important thing happening is that large employers are saying, we want people to come back to the office, not one day, two days, but at least three days. Most of them are asking for four days. There are some that are even asking for five days. As you can see, we've been showing you the Flex index charts for the last year, and the trend is going towards more structured hybrid work. That seems to be the highest. But on that, the return to office or full-time in the office has increased from the low 20s to now 33%, but the structured hybrid, which means that you will be in the office at least three days, mostly four days, is on the rise. In the last couple of weeks, we've had HSBC, Royal Bank of Canada, Scotiabank, TD Bank, Rogers, and Starbucks also announce four-day in-office mandates. One of the headlines that made waves last week was AT&T's CEO, John Stankey, stating that if you don’t want to show up at the office, you may not be part of the new culture he believes AT&T needs. He made it clear that he needs it based on performance and loyalty, and culture. That’s where the wind is blowing. It’s towards more and more ability to come together in the office so we can collaborate and expand our capabilities. By the way, just yesterday, Microsoft was reported to be mulling a three-day return to office, beginning in January. So we believe that work is anywhere. We can provide the capability where employees want to be, but the reality is corporations are reversing hybrid flexibility even as workspace density increases and floor plans shrink, pressuring real estate and workplace planners. We're getting a lot of interest from folks that are saying, we need a solution to this problem because we’re getting less space and more people back. The reality is the CXAI platform, the way we designed it, is already doing AI-powered desk reservations. They are doing capacity analysis, they are doing space-time optimization. It is performing many tasks that will drive innovation and demand for this technology. That's an interesting trend that we see. The second thing that I would like to share on trends is the hype cycle on AI, which is now entering the real estate as well as the workplace experience market. We have been working with Gartner for over two years as we've shared our Agentic AI story for workplace and employee transformation. I’m happy to say that they are on board with our thinking and the Agentic AI analysts and digital workplace experience analysts, who used to have separate terminologies, have now combined forces to create this hype cycle for digital workplace applications. In the workplace application, the employee experience app, which was the traditional mobile app, is going through a downward cycle in terms of people using it, but the adoption is not that high as people expected because space booking is just one aspect of it. On the other side, you see Agentic AI on the rise, which we, as you know, have been promoting for the last two years, and we are driving the leadership in that category. That is currently in a bit of a hype cycle. The reality, however, is kicking in that Agentic AI is here. It is solving problems today for customers, and customers have no issues using the technology because it is solving real problems for them and creating great value. We feel very bullish about this opportunity, and we were headlined in this Gartner report that came out in July. Agentic AI is transformational. The way humans interact and collaborate with AI is taking a dramatic leap forward with Agentic AI. The Agentic AI system understands the user's goals or vision and the context of the problem they are trying to solve. Agentic AI focuses on competing actions and outcomes versus just assistance, acting like a trusted adviser that is proactive, insightful, and acts to solve problems. So that concludes my market overview of what is happening in the market and what we believe. It’s pretty obvious to us that this day was coming. I think now is the time that the acceleration of adoption needs to start happening. Let me talk about what happened in Q2 here for us, focusing on product and customer highlights. Q2 2025 was a period of strategic execution and deeper customer engagement across our Fortune 1000 base. The company made amazing progress on existing customer growth, adoption, and usage leading to high employee engagement with our large enterprise clients. Some key highlights I would say are two of our largest customers renewed this quarter and are accelerating the adoption of all CXAI products as they see incredible usage of our technology platform by their employees. We had our largest annual recurring revenue, ARR renewal, with a leading Fortune 50 client that is now planning to expand globally to all sites as well as adopt all of the groundbreaking capabilities on the CXAI platform. They want it all, as they want all their employees to experience the magic of CXAI. We are seeing more than 150% usage at some of their sites, primarily driven by their mandate for RTO, as well as the ease of use and capabilities of the CXAI platform. You may ask, how can you have 150% usage? It’s pretty simple. Not only does everyone who is supposed to come to the office come to the office, but they are also getting people from out of site, out of state, or out of city coming in because the headquarters is an important place to be. We’re finding a resurgence of people saying, we want to be in person, and we want to collaborate. So they’re pretty excited. This also leads to interesting problems in terms of capacity planning and trend analysis. We'll show you a lot of insights we've gathered with analytics that provide solutions for these problems. But it's a good problem to have. By the way, they are not unique in their demand for this product. We believe that every large enterprise is grappling with the problem of individuals wanting to come back to the office or being asked to come back and not having enough space for them. So there is significant demand for our offerings. The other big news for this quarter was that one of our new clients is launching major iconic campuses across the U.S. in the coming months, signifying their commitment to scale. Our teams worked tirelessly with them, and these sites are going to be located in New York City, Los Angeles, and Miami, all centers of excellence for them. We’re really excited about that deployment. And finally, if we talked last quarter, we talked about a CXAI Kiosk. We received our first orders for that, and the deployment has gone successfully with our clients. Now there are multiple customers lining up for CXAI Kiosk, and we’ll discuss how the kiosk is game-changing in the market. Our CXAI platform, anchored in Agentic AI, is now in deployment, accelerating workplace transformation at scale. Key products on the CXAI platform are gaining momentum, including the CXAI Kiosk, allowing employees to do just-in-time bookings and connections from an interactive stream, all powered by the CXAI BTS, that’s the brains managing access, space, and content, leading to actionable insights and outcomes with the CXAI VU analytics platform. We are committed to being the system of intelligence for the hybrid workplace. These disruptive new products offered by the CXAI platform are a direct result of our partnership with Google Cloud, using Agentic AI technologies to create intelligent, superhuman-like, and proactive personalized experiences at scale. I want to thank the Google team and our engineering teams for really working hard on this. We’ll discuss all these capabilities in detail in the coming slides regarding analytics and what we have rolled out to our clients, which are producing amazing insights. The CXAI BTS was deployed with our newest client at scale. We have tested and validated it, and we will deploy it across all our customers this coming quarter. Finally, we have the CXAI OneMap experience. We’ll show you some examples of that. One place to navigate, book, connect, and more. It’s been great working with a new client and putting this together, and now all our clients want the same experience. We’re super excited about this. Our Google partnership and products are moving at a rapid pace since the AI ecosystem has evolved dramatically over the last year. It’s great to see Google Gemini leading the pack with innovation cost disruption. This year, we've signed our next year commitment with Google Cloud. As part of this, we’re getting a lot of great technology capabilities. I’ll break it down from infrastructure to spatial intelligence and security. Leveraging Gemini 2.5, CXAI is now enabling automation of nuanced and multi-turn booking requests, significantly enhancing the employee experience where CXAI agents will complete their daily space booking tasks so that employees can be more productive getting their work done rather than scheduling it. We’re using both the data engineering agent and the code agent in our infrastructure and core development to accelerate the development of those products. In terms of spatial intelligence, the Gemini Data Agents API provides the building block to integrate Google's natural language processing and code interpreter capabilities into CXAI VU, resulting in more contextual insightful outcomes, allowing users to create unique, engaging, and accessible data experiences to meet their specific business needs. We’ll showcase an example of what we've accomplished with one of our clients this quarter, which is quite remarkable. Given that most of our customer base are Fortune 1000 clients, CXAI provides the enterprise-grade governance framework needed to accelerate AI adoption and value while ensuring trust, transparency, and security. We are using the Google Threat Intelligence platform module now in addition to our Google Cloud Platform to provide that trusted and secure experience globally. As you can imagine, demand is increasing with our clients and deployments are global. Consider a 40,000 or 50,000-person organization globally, whether it’s a large bank or a large entertainment company. No matter what, security is top of mind. With usage happening not in one or two sites but across 50, it isn’t just 4,000 users anymore; it’s happening with 30,000 users. The importance of security becomes essential, perhaps even existential. We are partnering with our clients to ensure that we deliver that secure on-demand experience everywhere. This is a good problem to have, but as we grow, this focus will continue to be paramount. Let me talk about the other products we have delivered and the capabilities we offer. So you get a glimpse of specifically how users are utilizing it and the overall experience. Let me talk about the OneMap experience. We’re implementing the OneMap experience across all our customers now, empowering employees to book, navigate, connect, rate, and review all through a single map view. Some key use cases include colleague booking, where you can see who is in the office before you book. This has become very popular. In a small free-flow environment, you might want to see who is at the office, want to see their pictures, and ensure you can connect or prefer to be nearby or far away from them. This gives them full flexibility and opportunity. Similarly, we’ve got another use case with emerging notifications where a panic button triggers a location-sharing or notification that allows users to react quickly as well as informing employees promptly of different actions. This is also fully deployed and enabled through the OneMap experience. You won’t need to go to a separate map to book or navigate; you have one interactive and immersive place to go, which is user-friendly. That has been the key part of our drive towards this OneMap experience: ease of use and immersion. I’m happy to say we just received a new patent on 3D mapping and augmented reality. The patent numbers are there. It’s really a cornerstone of our multidimensional map strategy, providing contextual and immersive experiences. This will be a core future roadmap for us, developing that multi-dimensional environment, and we believe many of our users are finding the capability immensely valuable, giving them more context beyond just booking a room or desk. They want to see their environment. We’re super excited about that. Next, let me talk about analytics and spatial intelligence. As you know, we just talked about launching CXAI VU across all our customers. You've seen this slide before where we discuss all the great things we can do in terms of space optimization, user engagement analytics, and decision-making capabilities based on real data. The more intriguing aspect is providing insights and analytics that enable predictions. This has intrigued us as we've begun to delve deeper with our clients. Finally, we have the automation of dashboards. Some users want to create their own dashboards, while others prefer downloadable reports. We can accommodate all these capabilities, and that’s part of our advanced CXAI VU capability partnership with Google. Let me introduce an interesting model our team developed. As we consider all the hundreds of sites globally, we took a case study from one client facing the issue of booking cancellations. The issue arises when one books a room; sometimes people don’t cancel in advance, or they automatically cancel, depending on the BTS settings. Interestingly, we observed that there are two campuses. One is in Southeast Asia with a mumongous number of bookings—possibly over 10,000 a week—while in some cases, we have only a few thousand bookings a month in a U.S. campus. However, we noticed that auto-cancellation seemed independent of booking volume; higher bookings did not correspond with lower auto-cancel rates. As we dug deeper, we developed a predictive model to estimate cancellations based on historical usage data, campus characteristics, department, user title, and advance booking timelines. We believe we have this model boasting over 90% accuracy. We have managed to showcase to our clients three significant business impacts. First, real estate optimization; analyzing desk waste reveals that there can be savings of $300,000 for one campus. If we can predict which desks won't be utilized, these can be reassigned to others. Second, employee productivity; the hours we can save an employee annually can amount to thousands by reducing unnecessary cancellations and rebookings. Lastly, when cancellations occur close to the date in question, resources remain unused as it's too late to reassess opening them. Our algorithm can demonstrate early release potential ahead of cancellations, freeing up to 75% of underutilized resources, enabling more guests in the office at once—that's significant. Building these predictive models on top of Google AI infrastructure provides valuable insights and outcomes for our clients, fulfilling their expectations. Let me explain the brains behind our system called CXAI BTS; BTS stands for behind the scenes. It’s not Korean pop. It’s about ensuring all the capabilities are in place to provide our clients with a fantastic infrastructure. We conceptualize it as not just a traditional content management system. We've expanded it to enable space, access, and content management. Our newest clients are thrilled with this unified experience—if you can see everything in a single interface, you can see your space and who’s using it. You have control over access rights. You can also distribute content seamlessly using NLP commands. Our ambition is to employ Gemini to facilitate NLP-based commands; we’ll be launching this across all our clients next quarter. Regarding the old school real estate models, where you have maps in different places, space information stored separately, and personnel data somewhere else, considerable coordination was required to make these solutions work. We're integrating those components, providing dynamic updates, thus creating a straightforward solution for clients to manage content, offer access control, and efficiently manage their spaces. This will form part of our broader platform strategy moving forward.

Joy Mbanugo, CFO

Thank you, Khurram. Turning to our Q2 2025 results. Picking up where Khurram left off, we saw meaningful ARR expansion this quarter, anchored by two large Fortune 1000 renewals. I want to emphasize that these aren't just contracts; they're multiyear partnerships reflecting both customer trust and the mission-critical role our platform plays in operations and in improving overall employee experience. Subscription revenue accounted for 96% of total revenue compared to 87% just a year ago, showing our progress toward a higher-margin recurring model. Gross margin improved to 86% from 80% last year, even as we invested heavily in R&D to accelerate ARR growth. Our EPS also increased from last quarter and last year, rising to a negative $0.16 per share, but that’s an increase quarter-over-quarter and year-over-year. We’re happy to report that cash on hand has increased year-over-year. We feel very positive about the direction we’re heading. Moving to the next slide, we see that revenue held steady at $1.2 million, a strong outcome given some of the macroeconomic headwinds and some of the news regarding potential recession risks. This indicates we are holding steady. The cost of revenue increased slightly, but that’s due to hardware we purchased on behalf of a client; that cost is passed through. This brings our gross margin to 86% this quarter versus 88%. Therefore, while we’re above the essential 80% margin mark, we are still steady. Overall, operating expenses did increase, attributable to some of the investments we made in R&D, our expanded partnership with Google, and the Gemini tools we are utilizing. You will notice a one-time pop for this quarter, along with year-over-year and quarter-over-quarter increases. But this is a needed investment at this point. Sales and marketing have remained stable, and we will continue to hold steady; we are making investments but are thinking smart about it—doing more with less, although I don't want to use that cliché. We are proud of the work the team has accomplished with the podcast, enhancing CXAI in the case studies, and we will continue in this direction. On a quarter-over-quarter basis, G&A costs did decline. From last quarter, we had a slight increase quarter-over-quarter and year-over-year due to filings and other costs included in G&A. Overall, our loss from operations did increase, but that's a reflection of substantial investments in R&D, and we believe this is the right strategic direction. Overall, Q2 demonstrates our ability to maintain revenue stability, strategically invest for growth, and reinforce our market position. This combination of resilient recurring revenue, disciplined cost management, and innovation investment is exactly what positions CXAI to capture a growing share of the employee experiences market where penetration remains just 5% to 20% according to the Gartner survey mentioned by Khurram. That’s why we believe CXAI is on a clear path to continue leading the market in this area within this new vertical. Khurram, over to you.

Khurram Parviz Sheikh, Chairman and CEO

Thank you, Joy. Echoing Joy's comments, we have done a great job managing expenses while investing in the right technology sets. Our focus has been on technology, and as we scale, we’ll emphasize sales and marketing as well and grow that base. A small team works in that area because our strongest references are our existing clients. These clients love what we are doing and are spending the time and effort needed to help scale this business. Let me close out with a summary slide about why you should invest in CXAI. The fundamental belief at the heart of CXAI is straightforward yet powerful: put the employee first, and everything else follows. It’s not just about work; it’s about the people who do it, the places where they come together, and what they need to succeed. CXAI redefines how we consider work-life balance and the seamless interplay between the two. I believe we are onto something significant because as I converse with our clients—who are all top brands in the world within the Fortune 1000—they seek us out as partners rather than just as vendors. They want us to solve their problems, and their commitment to renew and expand significantly discusses our position as leaders in this emergent market. They have many alternatives; they could choose large buzz-bracket companies or other start-ups in the space, but they choose us because they trust we are working on things that are truly transformative and genuinely help them succeed. We believe we have shown a continued recurring revenue path, as you've seen from Joy’s numbers. We are increasing subscription revenue quarter-over-quarter, and have a clear path to profitability because we know that these clients are hard to acquire and scale. Once we are in, they want to expand everywhere. We see significant opportunities for expansion with these amazing clients we have. The diversity of deployments and the insights I shared earlier provide a snapshot of many intriguing insights that can empower employers to be savvier about how they engage their employees, thereby increasing productivity within their workplace. We view this as a two-way street, where both employees and employers must be aligned for success. We believe CXAI is the tool that can bridge that gap. Moreover, we are an innovation-driven team with a fantastic board and management team. Situated in Silicon Valley, in partnership with leading innovators, we are on a mission to redefine the software category called Employee Experiences. I’m incredibly excited about our future. We trust that this opportunity is a long-term one, not just a short-term gain. The demand is building and we believe we are at the right time in the right place, with the right technology to scale this business. Operator, if there are any questions from the audience, I know Joy has been monitoring them. We can take questions from the web that are available.

Joy Mbanugo, CFO

Yes, there are two questions, and we can tag team on them. The first one is, how is CXAI differentiating itself from larger AI competitors in the enterprise engagement space? What specific areas are driving your competitive advantage? I would add, Khurram, let me know what you’d like to add. CXAI is delivering enterprise-scale AI solutions validated in live, complex workplace environments. Our platform enables advanced capabilities such as Agentic AI-based behavior analytics and intelligent employee experience orchestration. A key differentiator is that our enterprise clients actively provide feedback and collaborate with us on our product roadmap. I get to hear it all the time while sitting in the office, and I love it. This ensures we prioritize and deliver the most valuable features for real-world experiences. We are not making assumptions; the continuous feedback cycle from our customers guarantees our innovations truly address market needs and drive measurable outcomes. The agility we have allows us to respond rapidly to evolving enterprise needs, whereas larger competitors can be slower to adapt. Our size works to our advantage; our technology consistently supports organizations in improving space utilization, enhancing workforce engagement, and optimizing operational efficiency. Khurram, would you like to add anything to that?

Khurram Parviz Sheikh, Chairman and CEO

Yes. That’s great, Joy. I think the only thing I’ll add is one of the things we pride ourselves on is localization, which drives the OneMap experience because a lot of the tools out there are digital tools within the AI space. We definitely leverage all the AI tools—we’re using Gemini, but we’re also utilizing other AI LLMs and tools in our platform. What these large companies can’t do is understand locality, user history, and contextual awareness. We consider that to be a crucial differentiator for us. Lastly, we integrate all these other components, which can be complicated for a product-focused company. We are, in fact, more an experience-based company. Those are our key differentiators. Finally, our exceptional team delivers fantastic service to our customers, which they genuinely appreciate.

Joy Mbanugo, CFO

We have a second question. Are there any strategic partnerships or integrations in the pipeline that could meaningfully accelerate market penetration over the next 12 months? Khurram, I’ll take the first part, and then I think you could conclude afterward. I’ve already mentioned our ongoing partnership with Google, which may make sense to talk about again, but we’re also collaborating with four other groups—design-build firms incorporating our solutions into workplace projects at the planning stage, which is a prime time to get involved. We’re also working with business process automation providers to embed our capabilities into existing client workflows and global real estate firms active in referrals; they tend to recommend CXAI when their clients seek digital transformations and employee experience solutions. Additionally, any technology ecosystem partners that possess engagement platforms as well as cloud providers could facilitate our objectives moving forward.

Khurram Parviz Sheikh, Chairman and CEO

No, that’s great, Joy. I think you encompassed all the elements. From my perspective, our best references originate from existing clients, and we have a close network of industry leaders. We engage not solely with project managers but with the C-level executives—CIOs at major firms even the CEOs, in some instances. HR, real estate, and IT leaders all work with us. If you reflect on that network, they hold a high bar in terms of expectations for quality products, and they have a collegial reference pool. It’s crucial for us to have those clients experience the maximum level of CXAI engagement because then positive outcomes follow. Simultaneously, as Joy mentioned, we are actively involved with various partners in the industry. In integrating, say, a locker provider, we work closely with them, and we also collaborate with parking vendors and real estate professionals. All those components are in place, but again, our strong suit remains our technology. Our partnerships with cloud providers also grant us enhanced access to clients and technology. This is an excellent question, one we engage in daily at the office, and we’re discovering that our current approach works effectively through references from existing clients. Any other questions, Joy? Or is that it?

Joy Mbanugo, CFO

That's it.

Khurram Parviz Sheikh, Chairman and CEO

Great. I want to thank everyone for joining us on the call. We look forward to providing updates in the coming weeks and months. We have some fascinating strategic opportunities that we’re working on, both from product and market perspectives. Stay tuned for those press releases. We’ll hopefully schedule our next earnings call in the November timeframe for Q3 and appreciate your interest in CXAI. Thank you for your participation.

Operator, Operator

Thank you. This does conclude today's conference call. You may disconnect at this time and have a wonderful day. Thank you once again for your participation.