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Discontinued Operations (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Discontinued Operations [Abstract]

Summary of Certain Selected Components of Discontinued Operations

accumulated other comprehensive income that was recognized as a result of those distributed assets and liabilities included in the foreign operations of CXApp.

		Three Months Ended June 30, 2022				Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
Revenues		$	2,149			$	1,620			$	4,731
Cost of Revenues			540				483				1,129
Gross Profit			1,609				1,137				3,602
Operating Expenses
Research and development			2,430				1,514				4,421
Sales and marketing			1,570				988				2,676
General and administrative			2,497				1,644				3,914
Earnout compensation benefit			—				—				(2,827	)
Acquisition related costs			10				—				16
Transaction costs			—				1,043				—
Impairment of goodwill			5,540				—				5,540
Amortization of intangibles			973				805				1,948
Total Operating Expenses			13,020				5,994				15,688
Loss from Operations			(11,411	)			(4,857	)			(12,086	)
Interest (expense)/income, net			8				1				9
Other income/(expense)			—				—				—
Total Other Income (Expense)			8				1				9
Loss from discontinued operations, before tax			(11,403	)			(4,856	)			(12,077	)
Income tax provision			38				—				(62	)
Loss from discontinued operations, net of tax		$	(11,365	)		$	(4,856	)		$	(12,139	)

The following table summarizes certain selected components of income from discontinued operations:

		Year Ended December 31, 2022				Year Ended December 31, 2021
Revenues		$	8,470			$	6,368
Cost of Revenues			2,064				1,646
Gross Profit			6,406				4,722
Operating Expenses
Research and development			9,323				6,704
Sales and marketing			4,996				4,763
General and administrative			10,540				20,607
Acquisition related costs			16				628
Impairment of goodwill and intangibles			5,540				11,896
Amortization of intangibles			3,885				3,046
Total Operating Expenses			34,300				47,644
Loss from Operations			(27,894	)			(42,922	)
Other Income (Expense)
Interest (expense)/income, net			4				1
Other income/(expense)			(1	)			—
Total Other Income (Expense)			3				1
Loss from discontinued operations, before tax			(27,891	)			(42,921	)
Income tax (expense)/benefit			(184	)			5,201
Loss from discontinued operations, net of tax		$	(28,075	)		$	(37,720	)

		As of December 31,
		2022			2021
Current Assets of Discontinued Operations
Cash and cash equivalents		$	10,000			10,000
Accounts receivable			1,338			1,764
Notes and other receivables			273			106
Inventory			—			11
Prepaid expenses and other current assets			650			889
Current Assets of Discontinued Operations		$	12,261		$	12,770
Long Term Assets of Discontinued Operations
Property and equipment, net		$	202		$	231
Operating Lease Right-of-Use Asset, net			681			723
Software development costs, net			487			648
Intangible assets, net			19,289			23,468
Goodwill			—			5,545
Other Assets			52			76
Long Term Assets of Discontinued Operations		$	20,711		$	30,691
Current Liabilities of Discontinued Operations
Accounts payable		$	1,054		$	661
Accrued liabilities			1,736			7,882
Operating lease obligation, current			266			213
Deferred revenue			2,162			3,145
Current Liabilities of Discontinued Operations		$	5,218		$	11,901
Long Term Liabilities of Discontinued Operations
Operating lease obligation, noncurrent		$	444		$	531
Other Liabilities, noncurrent			28			28
Long Term Liabilities of Discontinued Operations		$	472		$	559

Schedule of Summarizes Certain Assets and Liabilities of Discontinued Operations

The following table summarizes certain assets and liabilities of discontinued operations:

		As of December 31, 2022
Current Assets of Discontinued Operations
Cash and cash equivalents		$	10,000
Accounts receivable			1,338
Prepaid expenses and other current assets			923
Current Assets of Discontinued Operations		$	12,261
Long Term Assets of Discontinued Operations
Property and equipment, net		$	202
Operating Lease Right-of-Use Asset, net			681
Software development costs, net			487
Intangible assets, net			19,289
Other Assets			52
Long Term Assets of Discontinued Operations		$	20,711
Current Liabilities of Discontinued Operations
Accounts payable		$	1,054
Accrued liabilities			1,736
Operating lease obligation, current			266
Deferred revenue			2,162
Current Liabilities of Discontinued Operations		$	5,218
Long Term Liabilities of Discontinued Operations
Operating lease obligation, noncurrent		$	444
Other Liabilities, noncurrent			28
Long Term Liabilities of Discontinued Operations		$	472

		Fair Value Allocation
Assets acquired:
Cash and cash equivalents		$	109
Accounts receivable			110
Prepaid expenses and other current assets			135
Inventory			844
Right of use asset			312
Property, plant, and equipment			30
Other assets			113
Tradename & trademarks			168
Proprietary technology			507
Customer relationships			197
Goodwill			482
Total assets acquired		$	3,007
Liabilities assumed:
Accounts payable			2
Accrued liabilities			413
Lease liabilities – current			54
Lease liabilities – noncurrent			231
Payable to new parent			391
Deferred revenue			784
Total liabilities assumed			1,875
Estimated fair value of net assets acquired:		$	1,132

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Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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