C
Crexendo, Inc.
CXDOCIK 0001075736NasdaqNon-AcceleratedSmaller ReportingTelephone Communications (No Radiotelephone)DelawareFY ends Dec 31
Period
FY 2025
Revenue
$68.17M
Net Income
$5.07M
Total Assets
$77.69M
Equity
$63.82M
Shares Out
31.15M
Op. Cash Flow
$9.30M
Business
Crexendo, Inc. provides cloud communication platform software and unified communications as a service (UCaaS) for businesses of all sizes. It offers voice, video, contact center, collaboration, managed IT services, software licenses and device sales, delivered via subscription, term and perpetual licensing and equipment financing. The company operates two reportable segments: cloud telecommunications services and software solutions, including SNAPsolution, SNAPaccel, subscription maintenance and professional services. Its products and services are distributed through an extensive network of cloud platform subscribers, direct retail channels, service provider partners and hosted deployments in U.S. and international data centers.
Summary from filing dated 2025-03-04
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Service revenue | 34 | 32 | 30 | 20 | 17 | |
| Software solutions revenue | 30 | 23 | 18 | 15 | 9 | |
| Product revenue | 5 | 6 | 5 | 3 | 2 | |
| Total revenue | 68 | 61 | 53 | 38 | 28 | |
| Cost of service revenue | 14 | 13 | 13 | 7 | 5 | |
| Cost of software solutions revenue | 8 | 7 | 6 | 5 | 4 | |
| Cost of product revenue | 3 | 3 | 3 | 2 | 2 | |
| Selling and marketing | 18 | 17 | 15 | 12 | 8 | |
| General and administrative | 15 | 14 | 14 | 13 | 11 | |
| Research and development | 6 | 6 | 5 | 4 | 1 | |
| Total operating expenses | 63 | 59 | 55 | 75 | 31 | |
| Income/(loss) from operations | 5 | 2 | −2 | −37 | −3 | |
| Interest income | 637,000 | 191,000 | 2,000 | 0 | — | |
| Interest expense | −19,000 | −42,000 | −115,000 | — | — | |
| Other income/(expense) | 63,000 | −84,000 | 79,000 | 1 | −100,000 | |
| Total other income/(expense), net | 681,000 | 65,000 | 1 | — | −100,000 | |
| Income/(loss) before income tax | 5 | 2 | −264,000 | −36 | −3 | |
| Income tax benefit/(provision) | −300,000 | −212,000 | −98,000 | 762,000 | 465,000 | |
| Net income/(loss) | 5 | 2 | −362,000 | −35 | −2 | |
| Basic (per share) | 0.17 | 0.06 | −0.01 | −1.54 | −0.12 | |
| Diluted (per share) | 0.16 | 0.06 | −0.01 | −1.54 | −0.12 | |
| Basic (shares) | 30 | 27 | 26 | 23 | 20,276 | |
| Diluted (shares) | 32 | 30 | 26 | 23 | 20,276 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-10-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 31 | 18 | 10 | 5 | — | |
| Trade receivables, net of allowance of $124 and $146, respectively | 5 | 4 | 3 | 3 | — | |
| Inventories | 454,000 | 393,000 | 382,000 | 679,000 | — | |
| Equipment financing receivables, net of allowance of $50 and $69, respectively | 1 | 1 | 856,000 | 635,000 | — | |
| Contract costs | 2 | 2 | — | — | — | |
| Prepaid expenses | 892,000 | 876,000 | 508,000 | 431,000 | — | |
| Income tax receivable | 234,000 | 75,000 | 0 | — | — | |
| Other current assets | 292,000 | 13,000 | 35,000 | 674,000 | — | |
| Total current assets | 42 | 27 | 17 | 12 | — | |
| Contract assets, net of allowance of $145 and $127, respectively | 402,000 | 406,000 | 342,000 | — | — | |
| Long-term equipment financing receivables, net of allowance of $107 and $157, respectively | 3 | 2 | — | — | — | |
| Property and equipment, net | 195,000 | 394,000 | 670,000 | 3 | — | |
| Operating lease right-of-use assets | 1 | 1 | 1 | 1 | — | |
| Intangible assets, net | 18 | 21 | 24 | 27 | — | |
| Goodwill | 9 | 9 | 9 | 9 | — | |
| Contract costs, net of current portion | 3 | 3 | 2 | 1 | — | |
| Other long-term assets | 330,000 | 507,000 | 139,000 | 150,000 | — | |
| Total Assets | 78 | 65 | 56 | 56 | — | |
| Accounts payable | 649,000 | 1 | 769,000 | 1 | — | |
| Accrued expenses | 8 | 7 | 6 | 5 | — | |
| Finance leases | 2,000 | 21,000 | 75,000 | 95,000 | — | |
| Notes payable | 114,000 | 478,000 | 457,000 | 420,000 | — | |
| Operating lease liabilities | 493,000 | 481,000 | 566,000 | 363,000 | — | |
| Income tax payable | 151,000 | 40,000 | 53,000 | 79,000 | — | |
| Contract liabilities | 3 | 3 | 2 | 3 | — | |
| Total current liabilities | 12 | 12 | 10 | 10 | — | |
| Contract liabilities, net of current portion | 1 | 293,000 | 198,000 | 247,000 | — | |
| Finance leases, net of current portion | 0 | 2,000 | 23,000 | 98,000 | — | |
| Notes payable, net of current portion | 0 | 114,000 | 592,000 | 3 | — | |
| Operating lease liabilities, net of current portion | 529,000 | 1 | 473,000 | 752,000 | — | |
| Total liabilities | 14 | 14 | 12 | 14 | — | |
| Preferred stock, par value $0.001 per share - authorized 5,000,000 shares; none issued | 0 | 0 | 0 | 0 | — | |
| Common stock, par value $0.001 per share - authorized 50,000,000 shares, 31,004,327 shares issued and outstanding as of December 31, 2025 and 27,621,557 shares issued and outstanding as of December 31, 2024 | 31,000 | 28,000 | 26,000 | 26,000 | 2 | |
| Additional paid-in capital | 145 | 138 | 133 | 129 | — | |
| Accumulated deficit | −82 | −87 | −88 | −88 | — | |
| Accumulated other comprehensive income | 184,000 | 160,000 | 166,000 | 187,000 | — | |
| Total stockholders' equity | 64 | 51 | 45 | 41 | — | |
| Total Liabilities and Stockholders' Equity | 78 | 65 | 56 | 56 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income/(loss) | 5 | 2 | — | −35 | −2 | |
| Depreciation and amortization | 3 | 3 | 4 | 3 | 2 | |
| Share-based compensation | 3 | 3 | 4 | 4 | — | |
| Non-cash operating lease amortization | 4,000 | −18,000 | — | — | — | |
| Allowance for credit losses | −73,000 | 127,000 | — | — | — | |
| Trade receivables | −539,000 | −906,000 | 164,000 | −361,000 | −501,000 | |
| Contract assets | −14,000 | −106,000 | 109,000 | −57,000 | −102,000 | |
| Equipment financing receivables | −1 | −877,000 | −905,000 | −616,000 | −82,000 | |
| Inventories | −61,000 | −11,000 | −297,000 | 36,000 | 285,000 | |
| Contract costs | −827,000 | −1 | 1 | −788,000 | −270,000 | |
| Prepaid expenses | −16,000 | −368,000 | 77,000 | −25,000 | −92,000 | |
| Income tax receivable | −159,000 | −75,000 | 0 | 11,000 | −7,000 | |
| Other assets | −512,000 | −346,000 | −651,000 | −544,000 | 245,000 | |
| Accounts payable and accrued expenses | 1 | 1 | 623,000 | 246,000 | −245,000 | |
| Income tax payable | 111,000 | −13,000 | −26,000 | 55,000 | 24,000 | |
| Contract liabilities | 164,000 | 784,000 | −997,000 | −360,000 | −571,000 | |
| Net cash provided by/(used in) operating activities | 9 | 6 | 3 | −411,000 | −1 | |
| Purchase of property and equipment | −18,000 | −27,000 | −92,000 | −289,000 | −101,000 | |
| Net cash provided by/(used in) investing activities | −18,000 | −27,000 | 4 | −2 | −10 | |
| Repayments made on finance leases | −21,000 | −75,000 | −95,000 | −110,000 | −99,000 | |
| Repayments made on notes payable | −478,000 | −457,000 | −2 | −90,000 | −71,000 | |
| Proceeds from exercise of options | 5 | 2 | 241,000 | 816,000 | 2 | |
| Taxes paid on the net settlement of stock options and RSUs | −489,000 | −243,000 | — | — | — | |
| Net cash provided by/(used for) financing activities | 4 | 2 | −2 | −54,000 | 650,000 | |
| Effect of exchange rate changes on cash | 24,000 | −6,000 | −21,000 | 175,000 | 12,000 | |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | 13 | 8 | 5 | −2 | −10 | |
| Income taxes, net | −361,000 | −300,000 | −121,000 | −118,000 | −15,000 | |
| Interest expense | −17,000 | −32,000 | −115,000 | −78,000 | −84,000 | |
| Capitalized software development costs | 410,000 | 0 | — | — | — |
Filings
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