Key facts
- CXApp acquired EngineRoom for $4.6 million.
- The acquisition is expected to triple CXApp's annualized revenue run-rate to over $12 million.
- EngineRoom brings approximately $8.1 million in annualized revenue, with 94% recurring.
- EngineRoom is expected to contribute $1.6 million in adjusted EBITDA.
- CXApp issued 12.27 million common shares to Avondale Capital in a private placement.
CXApp Inc. (CXAI) saw its stock jump 33% in after-hours trading following the announcement of its acquisition of EngineRoom, an Australia-based AI-powered growth intelligence platform, for $4.6 million. The deal, which closed on June 3, 2026, is structured with $2.99 million in cash, a $1.15 million performance-based earnout, and a $0.46 million escrow arrangement. CXApp anticipates this acquisition will more than triple its annualized revenue run-rate from approximately $4 million to over $12 million. EngineRoom is expected to contribute about $8.1 million in annualized revenue, with nearly 94% of it being recurring, and approximately $1.6 million in adjusted EBITDA. EngineRoom serves over 50 mid-market customers with expertise in customer acquisition intelligence, attribution analytics, and workflow automation, integrating well with CXApp's Agentic AI SKY platform. EngineRoom founder Adam Laurie will remain with the company for at least three years. In a separate disclosure, CXApp revealed it issued 12,267,843 common shares to Avondale Capital, LLC between June 1 and June 3, 2026, at prices just above $0.1262 per share, a move that introduces dilution for existing shareholders but avoids a public offering. CXApp's current market capitalization is approximately $14.23 million.