Greetings. Welcome to the CXAI first quarter 2026 earnings call. I will now turn the conference over to your host, Khurram Sheikh, Chairman and CEO. You may begin.
Thank you, John. Good afternoon, everyone, and thank you for joining CXAI's Q1 2026 earnings call. I'm also joined on the call by our CFO, Joy Mbanugo. This quarter represents an important step forward for SKY or CXAI. We're not simply building workplace software. We are building an AI-driven orchestration layer for the modern enterprise. The enterprise workplace is changing quickly. Companies are looking for platforms that can connect employees, spaces, assets, services, workflows, and data into one intelligent system. This is exactly where SKY is positioned. Our message today is clear. Enterprise demand is increasing, our product roadmap is accelerating, our monetization model is expanding, and we believe SKY is positioned to convert that demand into recurring margin-protected revenue growth. With that, I'm gonna start going through the disclaimer slides. You know, please, I wanna remind everybody that today's presentation includes forward-looking statements.
These statements are based on current expectation and assumptions and are subject to risks and uncertainties. Please review our SEC filings for a complete discussion on those risks. Next one. We will also reference certain financial information, including non-GAAP measures and market data. We believe these metrics help investors understand our operating performance and the direction of the business, they should be reviewed together with our GAAP results and public filings. By the way, we have also filed our 10-Q for Q1, you should be able to see that, you know, in parallel to this presentation. Let me start with the scale of Sky or CXAI today. We are deployed across more than 200 cities, over 50 countries, and 5 continents, reaching more than a million users.
We have a global operating footprint, a strong IP foundation, and a team that remains heavily focused on product and engineering, with more than 70% of our team in R&D. That is important because enterprise AI is not just about launching an assistant. It requires secure deployment, trusted integrations, global scalability, support infrastructure, and domain-specific intelligence. Our installed base and global platform footprint create a foundation for future expansion. We believe growth can come from new enterprise wins, renewals, user expansion, analytic modules, integration, AI consumption, and the launch of Sky, our flagship agentic AI solution. You're gonna hear about that today, I just wanna recap that we are still doing really well with all our customers. We're growing, and it's been a really exciting quarter. Let me forward to the next slide where we talk about our mission.
Our mission is really to power the AI orchestration layer for the modern enterprise. As you know, we've been talking about people, places, and things for a while, and I know that the team has seen a lot of growth in the way our customers are responding to our vision. Our mission becomes more and more important every day as we work with our clients. Today I wanna launch this new mission, which is really at the heart of where our agentic AI solution drives. SKY connects people, places, assets, workflows, and enterprise context into one intelligent platform. That means the workplace is no longer just a static environment. It becomes a system that can understand, decide, and act. This is the evolution from workplace experience to workplace intelligence.
We've seen that now with Gartner recognizing us as one of the leaders in in workplace in-industry and calling us the workplace visionary leader. I think that's testament to the team's strategy and vision, but now also the execution. We believe the future of enterprise work will be shaped by platforms that can connect context with action. SKY is being built for that future. As we become more deeply embedded into enterprise workflows, we believe our revenue opportunity expands beyond software licensing into workflow automation, AI usage, analytics, and recurring integrations. Let me show you a video that describes the user experience and why we think SKY is gonna be that operating layer for the enterprise. Okay, great. Hopefully the people on the webcast could hear this.
Then the folks on the phone, you're gonna get the video as part of the recording when we get out there. You know, as you can see, Sky is all about the user experience. You know, we really focus on that. The workplace experience needs to become more intelligent, more personalized, and more automated. That's our mission. Employees wanna know where to work, who is nearby, what resources are available, and how to get things done quickly. Sky brings that together through one intelligent interface. What matters most is what happens behind the scenes. Identity, maps, reservations, wayfinding, services, analytics, integrations, and now agentic AI. We do all of that. We do all that heavy lifting to make the user experience simple and contextual. This is why we believe Sky will become an operating layer for the enterprise work. That's our focus.
The more workflows we connect, the more value we deliver, and the more opportunities that we have to expand revenue per customer over time with this strategy. Let me talk about the market. You know, we believe the timing is right right now. Sky sits at the convergence of two major growth markets. Number 1, the digital workplace platforms, and secondly, the enterprise AI assistants and agents. Digital workplace platforms are projected to grow significantly through 2030, and enterprise AI assistants and agents are projected to grow even faster. Sky plays across both markets. We play at the intersection of these. On one side, we support workplace orchestration, platform adoption, mobile and web experiences, maps and reservations. On the other side, we are building embedded AI task agents, workflow automation, and the Sky agentic layer. This convergence is what creates the opportunity.
We're not trying to be a generic AI company. We are applying AI to a specific enterprise problem, making the workplace intelligent, automated, and operationally efficient. That market convergence supports a large revenue opportunity for Sky, from enterprise SaaS today to AI-native licensing, analytics, consumption, and platform expansion over time. This, I believe, is a compounded 30x plus opportunity for us. Not happening 10 years from now, happening in the next couple of years. We're super excited about this space, and this has been validated through our work with Gartner and all the other analysts who are watching this industry and now are really calling it a, you know, a new Magic Quadrant for this market, which is a validation of the space frame and a huge market opportunity for all of us. Let's talk about Q1. What happened in Q1?
It was a very breakout quarter for us. We had a lot of great wins. I wanna highlight the key highlights from this. Number one, we delivered on $1.4 million in bookings, which included two large renewals of existing clients and one new client has also been onboarded. This represents, you know, an increase from last year, also it's the starting point of the strategy that we articulated in our last earnings call. More importantly, we have added more than $5 million in new deals, full contract value across three enterprise deals. These are three-year term deals with large enterprises in financial services markets that are really at the leading edge of innovation, they have selected us for a multi-year contract. This is super exciting.
I know that we talked about this in our last earnings call, that we've been working really hard in different RFPs and different pipeline opportunities. Those pipelines have become real, and real meaning that they're being deployed now. In terms of why we won these things, we won it because we had our agentic AI solution. I'm gonna talk more about that in detail. The Sky Sandbox is what our clients have been testing with, which includes our agentic AI platform, as well as our Sky 1.0 platform. Those deployments are happening with not only the existing clients, but more importantly, the new clients, as well as the pipeline of clients.
Those 3 clients came in, they did their RFPs, they had our responses, they did the product across vendors, across the ecosystem, and they tried Sky Sandbox, and they've said, "We love it. We think it's the best thing out there." Now they're onboarded with us and working with us to scale up their systems. I think that's been a significant win for us, and I applaud our sales team and our product team and our engineering teams who are really working hard to make it happen. I'm super proud of them, and I think this is a testament of the capability of the team as well as the capability of the product. Next, we can talk about SkyView.
As you know, and we'll talk a little bit more about our partnership with Google Cloud, but we have built it as a platform that will allow for analytics to be agentified, and that means that you ask a question, you get a result and an answer pretty quickly. Google has also appreciated the partnership with us. We made a press release on that. I'm gonna talk more about how we're actually engaging with Google to make it successful, but we are one of the leading vendors working with Google in making this happen using their Looker platform. Lastly, we were recognized by Gartner, as I mentioned, as a visionary in the Magic Quadrant for Workplace Experience Applications. This is a new Magic Quadrant that has been officially launched by Gartner.
It was the first one out there, and we've been working with the analysts for the last couple of years on our vision and our strategy of how we think agentic AI is so critical to this market. I think it's a testament of the recognition, but also it just shows that we are really driving the innovation in the industry, and we're super proud of that recognition. The key point in all of this is the enterprise demand we have been discussing is now showing up in real customer activity. Renewals, new wins, multi-year commitments, AI pilots, and analytic opportunities. Bookings and TCV are important leading indicators. Revenue recognition follows deployment, implementation, user adoption, expansion. While Q1 revenue reflects timing, the forward-looking opportunity is increasingly supported by enterprise commitments. Well, the next question is: Why did they choose us?
You know, why did they choose Sky? In my view, we bring five capabilities together. First, agentic AI. Our platform is designed to understand workplace context and automate intelligent actions. Second, any workspace native. We work across the tools employees already use, whether it's Microsoft 365, Google Workspace. We are compliant to all of them. We connect with all of them, and we make it so easy to connect with all the bookings and calendars and maps and wayfinding in one experience. Third, one platform, every surface. We deliver a consistent experience across mobile, web, kiosk, and signage. No matter where you're at, you will see similar kind of experience with Sky. Fourth, spatial intelligence. Our mapping and wayfinding capabilities create a real-world context for the enterprise.
Our One Map Experience and all the immersive spatial layer of access we have provides that contextual awareness, provides that intelligence, provides that mode for the agentic solution that makes it super different and super unique to anything else out there. Finally, and most importantly, we are enterprise-ready. We're built with security, compliance, support, and global deployment. For these large enterprises to select us is not only a testament of our product, but our stability and our reliability of our solution and the fact that we meet the difficult requirements that large enterprises have. It's not easy, and this is where when we look at the competition, we are heads and shoulders above of them because of all these five things together. This is why these customers choose Sky. We're not offering a single-point solution.
We are offering integrated platform that connects the enterprise workplace into one intelligent operating system. That's why my belief becomes stronger and stronger every day as I see these clients going through multiple RFPs, multiple product evaluations, understanding all the different options out there, and then selecting us because we have the full solution. We have that capability, and we're growing more and more in that capability day in, day out. Next, I wanna talk a little bit about, you know, when you think about all of this, you kinda say, "Well, what does this mean long term?" Well, long term, what it means is we are the vertical AI for the office. Sky's platform is purpose-built for the office environment, where employees, visitors, facilities teams, and enterprise systems interact every day.
By connecting workplace data and workflows, Sky enables organizations to deliver more personalized experiences, improve utilization, reduce friction, and create a more responsible and responsive physical workspace. We believe, you know, we strongly believe the next phase of workplace technology will be defined by AI that understands context, where people are, where resources are available, which systems need to be coordinated, and how the office can adapt in real time. Sky's agentic AI capabilities are being developed to help automate routine workplace tasks, surface recommendations, orchestrate integration, and improve the employee and customer experience across complex enterprise environments. In a nutshell, what that means is the broader the platform value, the greater the potential multi-year renewals, larger deployments, integration fees, AI monetization, and expansion modules. When our— as you saw the video, when Maya's out there, she's using it every day for all the things.
It may be a small thing for you, but it may be great for her. It may be somebody else has a different use case. All these use cases combined make it a day in the life of a user that's so connected to their enterprise, they can't let go. That's what we're seeing with our clients that are scaling up. They see that connectivity. They see the secret glue that connects them together to make sure that they're using this every single day, and that's what we aim for. That's why. The analytics show us all the value of that. That's where the next piece comes in, which is, you know, behind our Q1 wins. I'm gonna run this quick animation to show you some of the data set that we collect.
As you can see, our partnership with Google is a major validation point for SkyView and our analytics strategy. The quote from Sean here at Google Cloud highlights the importance of embedded Looker as a scalable API-first data layer across our clients. This allows us to deliver real-time insights at enterprise scale and create the foundation for AI-powered analytics and conversational intelligence. You ask a question, you get an answer. You go deeper, you ask a second question, it goes deeper. You wanna show, you know, a dashboard that you wanna create, it can create it for you. You can create a visualization. You can create a report. You can create an animation. You can create everything you want within the data set that's provided and within the context of what's valuable to you.
At the end of the day, all of this enterprise AI needs enterprise data. Without trusted data, AI remains generic. With real workplace data, location intelligence, usage patterns, and operational signals, AI becomes actionable. That is the strategic value of SkyView, and analytics can become a meaningful expansion layer. Customers increasingly want predictive insights, utilization intelligence, real estate optimization, and AI-driven recommendations. We believe these capabilities support higher value pricing and expanded customer relationships over time. That's kinda like, you know, my view of how the market is expanding, how our customer wins are happening, how we're going forward. Let me turn it over to my colleague, Joy, to talk about the financial highlights. Joy?
Thanks, Khurram. I'll walk through our Q1 2026 financial performance and do some comparisons to previous quarter. Starting with revenue, we delivered $950K in total revenue for the quarter compared to $1.02 million in Q4. While this represents a slight decline, I want to provide context here. The quarter-over-quarter decrease reflects the timing of new deal closures and the revenue recognition pattern of our enterprise contracts, which I'll get into more detail in upcoming slides. What's really encouraging is our subscription revenue mix, which improved to 98% of total revenue, up from 96% in Q4. This demonstrates the continued strength and predictability of our recurring revenue model. Gross margin came in at 83% for the quarter compared to 87% in Q4.
This slight compression reflects some incremental infrastructure investments we made to support our agentic AI rollout and support our Google Cloud partnership. We expect gross margin to stabilize in the 80%-ish range as we scale these new capabilities and continue to invest in cutting-edge Google products. On the balance sheet side, cash increased to $12.3 million, up from $11.1 million at the end of Q4. This improvement came despite increased expenses in operating activities, reflecting a better working capital management and timing of customer collections. Finally, earnings per share improved to negative $0.08 per share compared to negative $0.13 in Q4. This 38% improvement reflects both the operating leverage we're achieving and the normalization of expenses, which we'll get into in the next slide. If we can move to slide 12.
Now let's dig into our operating expense story because this is where the discipline in our execution, one area in the discipline in our execution, really shows. Total operating expenses declined by $1.87 million or 27.6% quarter-over-quarter. The critical context here is in Q4, we took a $2.15 million non-cash goodwill impairment charge. When you exclude that one-time item, our underlying expenses actually increased only by $278K or 6%. I'll walk through the key items here. Research and development was essentially flat at $1.5 million, up just $10,000. This stability reflects our strategic choice to maintain our innovation pipeline while operating efficiently.
Our R&D team is now 70% of our total headcount. We're continuing to invest in agentic AI capabilities that are differentiating us in the market. Sales and marketing decreased by $79K or 16% down to $413K. This reduction came from optimizing our digital marketing spend and focusing our outbound efforts on higher probability enterprise opportunities. We're seeing much better conversion rates with this very targeted approach. G&A expenses increased by $347K or 17.6% to $2.3 million. This increase was driven by three specific factors: audit and compliance-related costs, legal expenses related to strategic partnerships and negotiations, and costs tied to overall governance enhancements.
These are foundational investments in our infrastructure as we prepare for our next phase of growth, and we hope to see the payoffs of these investments in future quarters. Amortization of intangibles remained flat at $683K, consistent with what we outlined last quarter. The bottom line here is that we're managing our expense base very tightly while making targeted investments in the areas that drive long-term value, innovation, partnerships, and governance. Let's move to the revenue slide. Let's talk a little bit about the forward momentum in the business, which Khurram alluded to earlier, which we're really excited about. As we talked about, this is our reset, and so we're really excited about our future and where we're headed. Even though revenue was down, our bookings tell a different story, and as we've said consistently, bookings are a leading indicator for this business.
Q1 bookings came in at $1.4 million, up 12.5% year-over-year compared to $1.25 million in Q1 2025. More importantly, we closed 3 enterprise deals with 3-year terms representing approximately $5 million in total contract value. These aren't transactional deals. These are strategic multi-year commitments from organizations continuing to bet on CXApp as their workplace experience platform. Breaking that down, we signed 1 new logo and renewed 2 large existing customers, both of which we hope to continue to expand their deployments with new offerings. These renewals are particularly significant because they validate both our product market fit and our ability to deliver ongoing value. Our NRR improved to 98% in Q1, up 12 percentage points year-over-year from 86% in Q1 2025.
This is a really critical metric because it shows that our existing customer base is not only staying with us, but they're expanding their usage of the platform. That's a really good growth story from previous years. Now, the real story here is the operational drivers. We beat our own internal bookings forecast by 19%, and we're a little ahead of plan. This outperformance comes from three sources. First, our agentic AI capabilities are starting to resonate with enterprise clients. We have five Sky Sandbox deployments live with enterprise clients now. These aren't pilots; these are production implementations where customers are seeing real productivity gains. Second, the Google Cloud partnership is creating a differentiation flywheel.
Google published a case study on our Looker integration. As Khurram mentioned, Sean Zinsmeister, their Director of Product Management for Data Cloud, specifically called out our differentiated approach to embedding Looker as a scalable API-first data layer. That validation from a tier 1 hyperscaling is opening doors with enterprise clients who wanna know that their platform is built on best-in-class infrastructure. Third, also as Khurram mentioned, our Gartner recognition as a visionary in enterprise workplace Magic Quadrant has given our sales team incredible air cover in competitive evaluations. The key takeaways here are we have leads, we have ongoing leads that are turning into bookings, which revenue trails behind that. We expect to see the impact of the increased bookings in the upcoming quarters.
The Q1 bookings momentum we generated, especially the new 3-year enterprise commitment, sets us up for revenue growth as these contracts convert and as we continue to expand within our installed base. We're building a high-quality pre-predictable revenue engine, and the foundational work we've done on product differentiation, strategic partnerships, and customer success is now translating into commercial traction. We can move to the next slide. We are building, as we said, we're building for the agentic era, and the new contracts that we landed have come from our focused efforts in marketing and some of the changes we've made from an implementation standpoint, changing our pricing, and not necessarily abandoning the SaaS model, but thinking more about the future and what agentic AI looks like for our enterprise clients.
Because of that, we're focused on maximizing revenue growth, continuing to control our costs, and protecting our margin. Khurram, back to you.
Thank you, Joy. As Joy alluded to, the new deals we have are built on this new, you know, pricing and monetization model, and we have purposely designed it with our clients in a way that it's scalable, it's repeatable, but more importantly, it protects our margins and it helps us scale with agentic AI. Very proud of the work the team had done on this, and I think it's a testament that these new clients have come on with this new structure, which I think is going to be, as Joy said, maximize our revenue growth, but also manage our costs efficiently in the new AI agentic world. You heard about, you know, SaaS is under threat. Well, our solution is actually really full AI native now.
It has the cost structure implemented upfront so that we get our cost back, but more importantly, it scales with AI usage and consumption. Let me move to the next slide to our roadmap and to tell you the story of where we're headed, what we're doing now, and where the success has been super beneficial for us. Number one, you know, Sky 1.0 is our core enterprise platform. It supports the install base, existing ARR that you see, the renewals, and add-on modules. You know, that's our base platform, that's our foundation, and that's there. All the new clients we have been signing up to Sky 2.0. They're day one starting with the 2.0 agentic AI operating layer. It is designed to capture agentic growth inside large enterprises through AI assistance, workflow intelligence, AI consumption, and expansion.
These clients didn't come in just on 1.0. They have signed up to 2.0. We're focused on delivering that in the June timeframe. It's still on schedule, but the sandboxes have been tested, the validation has happened. The product is being deployed by them in this quarter, so we can launch it with their customer base. As I said in previous calls, they do one or two campuses, and then they scale to 100. All of these clients have done it purposely to design there so they can scale to those, you know, 50 to 100 campuses or global access for them, for all the employees. This has been a Herculean effort from my team, and I'm pretty proud of it.
The beauty of it is we're the first ones that provide this agentic AI system, and that's why we filed the IP on it. The patents were filed. You know, we are pretty much a leader in both the, you know, orchestration layer of AI, but also the recommendation engine, the BOND and CORTEX that I mentioned last quarter. Those patents are going through their provisional process, and we will be filing their definitive on them as well. That provides us really a moat and something that's unique that nobody else in the industry has. That is our growth engine for now. This is for large enterprises. This is what 3 new clients have had. This is what the pipeline of new clients, the sandboxes that Joy mentioned, are all testing that.
Now we have a repeatable system where we can test with these clients, we can show them the capability, and they can scale up with us. The third thing that we've been working on in parallel has been our Sky or Sky squared or just Sky, if we make it easy. This is our disruptive mid-market expansion platform. It is designed for rapid deployment, channel distribution, marketplace availability, and broader market reach. That is something that is designed really for the small/medium enterprise. It is something that we have really worked on with our team to focus on kind of companies like our size that wanna have a solution because they face the similar problems of workplace experience and engagement among the employees. We're happy to share that we are making strong progress on that.
We launched the pilot in our campus here in San Ramon. Now we're working closely with our channel partners, including Google and AWS. We're gonna put it onto the Google Marketplace and AWS Marketplace this quarter. That's gonna be exciting. We also believe that there's other channel partners that wanna engage with us because this is a huge opportunity for growth. The mid-market is our disruptive scale platform. It's very frictionless, very simple, very easy, but very powerful in terms of that personalized experience. When we think about all of these three things, these are the three things that are the key pillars of Sky, and they will continue for the growth. The existing will continue. Those customers will move to 2.0.
The 2.0 customers may even use Sky for some of their applications, but there's gonna be a big roadmap for Sky 2.0 in terms of its agentic capabilities. Sky is gonna really drive into the mid-market. You know, we believe that the combination of enterprise expansion and mid-market scale is what gives us confidence in our long-term growth model. When we talk about the growth, the 30X+, this is all driven by this. Let me close with why we believe Sky is entering an important inflection point. First, enterprise demand. Q1 showed that large customers are making real commitments to AI-powered workplace transformation. Second, agentic OS for the workplace. Sky is evolving from a workplace application into an operating layer for people, places, assets, workflows, and context. Third, AI-native monetization.
Our model is built around implementation, licenses, integrations, and AI consumption, creating multiple revenue streams. Fourth, dual growth vectors. Sky 2.0 supports large enterprise expansion, while Sky opens the door to mid-market and channel-led growth. Fifth, solid financial foundation. We have a high recurring revenue mix, 80% plus gross margin profile, stronger cash position, and disciplined operating focus. In my view, Q1 was about proof. Proof that enterprise demand is real, proof that our platform strategy is aligned where the market is going, proof that our monetization model is designed for the AI era, and proof that Sky is positioned to convert enterprise AI demand into recurring margin-protected revenue growth. We are focused on execution, customer expansion, product innovation, and building durable shareholder value. Thank you to our customers, partners, employees, and shareholders for your continued support.
With that, I'm gonna open up the question for question and answers. I know that, Joy, you've seen some questions come up.
Yes.
Happy to respond to some questions here.
Yep. The first question we have is, do you believe it is possible to regain compliance organically? Also, how is CXAI 2.0 coming, and will cash flow positive come in 2026? I'll take part of this, and then, Khurram, hand it over to you. We do believe that it's possible to regain compliance organically, and we are feverishly working on that. I think Khurram gave you the roadmap to CXAI 2.0. It's coming along really well, and you'll see that out in the marketplace in the upcoming weeks, months. Positive cash flow, we're not gonna give any guidance, but we are always working towards positive EBITDA, and that is, you know, one of the goals we'd like to achieve, but can't give any solid guidance there. Khurram, you wanna add anything?
No, that was very good. I would just say that when we think about the business, we are trying to scale up organically and inorganically as well. We are looking at different options and different ideas to scale up. I think the fact that we have a CXAI 2.0 platform is great news because now there are a lot of people coming to us with partnership opportunities and things. You will be seeing more from us on that side because now with the platform working and deployable and gonna be on Google Cloud Marketplace and AWS Marketplace, I think you're gonna see a lot more opportunities. We are actively pursuing that. To answer the first question, yeah, absolutely.
We feel that we're gonna work very hard. Today's results hopefully demonstrate that we are on the right path to scale up. Hopefully, that will lead us to get back into compliance before our September deadline.
Khurram, I think the next one's for you, but I'll read it. Do the current impending patents granted infringe on already existing businesses? This is a multi-part question. Does the company plan to license the software to competitors in the space? With the June rollout, will the software have capabilities to integrate with government agencies?
Wow. Those are three great questions. I'll take one at a time. On the first one, I would say we have our attorneys Have done the filing. They will actually look at naturally if there's any infringements. We believe that we are not infringing on anybody. We don't know if anybody else is infringing us. We do believe we have a moat and we have something unique and different that nobody else has. We're gonna get those patents, you know, filed, provisional filed, get them definitive. In terms of licensing to competitors, look, we're always open to that. I think it's early days in the agentic AI world. I think our the reason why we filed also is given these impending agreements with our clients. It's super important to get those out there.
You're gonna see large multinational companies using the agentic AI solution from Sky. I think that will definitely create a buzz in the marketplace, and we'll hopefully see that product launch here in the coming weeks and months. That is the plan there. With the June rollout, you know, the software, naturally we are building it as universal solution that can be implemented by any enterprise, including government. We have not focused on the government market as yet, but I think with the approach that our team is having with channel partners, absolutely we will be looking into that opportunity. We will also look into international opportunities as well. There's a huge potential of other things, but our first focus was to get the product working as we described our vision. I think we're super close there.
We've got the sandboxes. We're going to be doing the final implementation. More importantly, we have really large U.S.-based clients that are now adopting it and going to be deploying it very soon. I think we're on the right path, but absolutely we're going to be focused on not only the licensing opportunity, but also the access to other verticals besides the work vertical that we're entering. Joy, do you have other questions?
Yeah, we have a couple of questions on revenue, but I think we already answered them about recurring revenue.
Yeah.
We've talked about the $5 million in bookings and, you know, just what we expect to see from a pacing standpoint from revenue. I don't think we need to go back over those questions. There's a question on can you detail I think the question is really can you detail a little bit about our partnership with Google Cloud?
Yeah. No, that's a great question. Look, there's two sides of the Google Cloud partnership. The first is on the product side. As you mentioned, we've been working very closely with them to build that agentic AI platform for analytics using their Looker platform. We have access to all the Looker code, and we've integrated all of that into our platform, and that provides us the engine for our application. Also with the Gemini and the Vertex AI systems, we have access to all of those. Naturally, end-to-end, we can use the full Google solution. We're not exclusive to that. There are other people that could do it, but we have implemented in a way that I think is unique and is differentiated as Google put it freshly out, did a case study.
They believe that we've kind of implemented in a very intelligent way. That product partnership is really going well and continues to go well. I think the other side of the equation is, you know, with helping and using Google and their workforce to help us with the go-to-market and to really launch the new Sky product, which is really more, you know, something that can be for the small minor enterprise. It's self-serve, easy to use. That is gonna be the exciting part this quarter as we launch it on that. Overall, I think, as you can see, Google is investing heavily in enterprise AI, so we get the value of that. We're also proud to be partners with them in looking at the next generation of AI systems.
We're working very closely with the IP that we have, with the patents we have on that solution, leveraging their infrastructure. There's a lot that can be done, but right now the idea is to really drive innovation and get it to the next level of deployment. I think you probably saw that Google Cloud announced when they made our announcement is at Google Cloud Next in Las Vegas, and they made a bunch of announcements there in terms of their investment in enterprise AI. All in all, it's a very good partnership, and I'm hopeful that we're gonna create more value for both companies.
Naturally, we're the smaller guy, but we leverage them. They're also excited about working with us just because we are at the leading edge of innovation in our space.
Thanks, Khurram. I think we have one more question. What are your expectations for the upcoming quarter? I don't know if we said at the beginning of the call, but we don't give guidance. We don't give revenue or bookings guidance. This is very directional, but we expect to see, just the, you know, the results of the team working really hard, onboarding new customers and just more progress with CXAI 2.0 and just our agentic platform. Khurram, you wanna add anything?
That's right. Yeah. I think the only thing I would add there is that, you know, we've been sharing with you a lot of information regarding this quarter anyway. I mean, when you say upcoming quarter, you mean this quarter that we're in. We're super busy with the, you know, with the, with the new clients that we've onboarded, and we're working with them on getting their application working, as well as the CXAI 2.0 and the CXAI (Sky), you know, deliverables we have. The team is very focused on that. It's a busy time at Sky, and I think the good news is there's a lot of enterprise demand coming. You know, there's a lot of, you know, interesting use cases coming on board.
I think we're super excited to convert all of these opportunities into real revenue and show the growth in the coming quarter. I think you can expect hopefully good news from us in terms of execution and delivery in the coming weeks and months here. Okay. I think that's all the questions we have. I want to thank everybody for joining the call. Thanks for your interest in Sky, we look forward to the next quarter's call, and hopefully we'll be keeping you updated as new things happen. You know, we're really focused on execution, and we hope to deliver on the things we mentioned in our call today. Thank you so much for your time, and take care. Bye.
This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.