US Market News
4週前
Crexendo's AI-Native NetSapiens Platform Earns Industry Recognition as Demand for Modern Cloud Communications AcceleratesMay 12, 2026 9:00 AM
ACCESS NewswirePHOENIX, AZ / ACCESS Newswire / May 12, 2026 / Crexendo®, Inc. (NASDAQ:CXDO), an award-winning software technology company supporting over 7 million end-users, and a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, announced today that the company has been named a winner of the 2026 TMCnet Remote/Hybrid Work Leadership Award for its AI-Native NetSapiens cloud communications platform.The TMCnet Remote/Hybrid Work Leadership Award honors companies whose software, hardware, applications, and services support employees working full- or part-time from remote locations. Winners are selected by the editors of TMCnet based on innovation, functionality, and the ability to enable modern distributed work environments.As enterprises and service providers continue migrating toward AI-enabled cloud communications environments, Crexendo believes the demand for scalable, software-driven platforms that unify voice, collaboration, customer engagement, and automation continues to accelerate. The company believes its NetSapiens platform is uniquely positioned to capitalize on this long-term industry transition.Crexendo's NetSapiens platform was recognized for its ability to empower service providers and businesses with a scalable, AI-powered cloud communications solution that enables seamless collaboration across remote and hybrid teams. The platform integrates voice, video, messaging, and contact center capabilities into a unified environment designed to enhance productivity, flexibility, and user experience regardless of location.The recognition further validates Crexendo's strategy of investing in scalable, software-driven cloud communication platforms capable of supporting long-term recurring revenue growth and expanding global partner adoption."TMC is proud to celebrate the innovators driving advancements in remote working technology with the 6th Annual Remote/Hybrid Work Leadership Awards," said Rich Tehrani CEO of TMC. "Each winner has demonstrated exceptional innovation and leadership in a field that became essential during the global pandemic. Their contributions continue to shape the future of remote work, and I commend each of them for their pioneering efforts," added Tehrani."We believe the communications industry is still in the early stages of a major transition toward AI-native cloud platforms," said Jeff Korn, Chairman and Chief Executive Officer of Crexendo. "The NetSapiens platform was designed specifically for that transition, enabling service providers and enterprises to unify collaboration, mobility, customer engagement, and AI within a single scalable environment. As adoption of modern cloud communications continues to accelerate globally, we believe Crexendo is exceptionally well positioned to capitalize on that opportunity. This recognition from TMC further validates both our technology leadership and our long-term strategic direction"Crexendo continues to expand its position within the rapidly evolving cloud communications market through ongoing investments in AI-native software innovation, platform scalability, security, and partner enablement. The company believes its software-centric operating model and growing global ecosystem position it to benefit from the continued shift to the cloud. This latest honor adds to a growing list of industry recognitions for Crexendo's innovation and market leadership, reinforcing the company's role in shaping the future of work through AI-powered cloud communications solutions.About CrexendoCrexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 240 cloud communication platform software subscribers and our direct retail offering. For more information, please visit www.crexendo.com.About TMC
For more than 20 years, TMC has been honoring technology companies with awards in various categories. These awards are regarded as some of the most prestigious and respected awards in the communications and technology sector worldwide. Winners represent prominent players in the market who consistently demonstrate the advancement of technologies. Each recipient is a verifiable leader in the marketplace.TMC also provides global buyers with valuable insights to make informed tech decisions through our editorial platforms, live events, webinars, and online advertising. Leading vendors trust TMC, thought leadership, and our events for branding, thought leadership, and lead generation. Our live events, like the ITEXPO #TECHSUPERSHOW, deliver unmatched visibility, while our custom lead generation programs and webinars ensure a steady flow of sales opportunities. Display ads on trusted sites generate millions of impressions, boosting brand reputations. TMC offers a complete 360-degree marketing solution, from event management to content creation, driving SEO, branding, and marketing success.Safe Harbor StatementThis press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor'' for such forward-looking statements. The words, "believe,'' "expect,'' "anticipate,'' "estimate," "will'' and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include information about Crexendo (i) believing the communications industry is still in the early stages of a major transition toward AI-native cloud platforms; (ii) believing the NetSapiens platform was designed specifically for that transition, enabling service providers and enterprises to unify collaboration, mobility, customer engagement, and AI within a single scalable environment; (iii) believing Crexendo is exceptionally well positioned to capitalize on the opportunities; (iv) continuing to expand its position within the rapidly evolving cloud communications market through ongoing investments in AI-native software innovation, platform scalability, security, and partner enablement; (v) believing its software-centric operating model and growing global ecosystem position it to benefit from the continued shift to the cloud; (vi) believing this latest honor adds to a growing list of industry recognitions for its innovation and market leadership, reinforcing the its role in shaping the future of work through AI-powered cloud communications solutions.For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2025, and Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.Crexendo Contact:
Doug Gaylor
President and Chief Operating Officer
US Market News
1月前
Crexendo Announces First Quarter 2026 ResultsMay 5, 2026 4:00 PM
ACCESS NewswirePHOENIX, AZ / ACCESS Newswire / May 5, 2026 / Crexendo, Inc. (NASDAQ:CXDO), an award-winning software technology company that is a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, today announced financial results for the first quarter ended March 31, 2026.First Quarter Financial highlights:Total revenue increased 29% year-over-year to $20.7 millionGAAP net income of $0.6 million, or $0.02 per basic and diluted common share.Non-GAAP net income of $3.3 million, or $0.10 per basic and diluted common share.Financial Results for the First Quarter of 2026Total Revenue: Consolidated total revenue for the first quarter of 2026 increased 29%, or $4.7 million, to $20.7 million compared to $16.1 million for the first quarter of 2025.Service Revenue: Consolidated service revenue for the first quarter of 2026 increased 29%, or $2.4 million, to $10.6 million compared to $8.2 million for the first quarter of 2025.Software Solutions Revenue: Consolidated software solutions revenue for the first quarter of 2026 increased 12%, or $0.9 million, to $7.7 million compared to $6.9 million for the first quarter of 2025.Product Revenue: Consolidated product revenue for the first quarter of 2026 increased 141%, or $1.4 million, to $2.4 million compared to $1.0 million for the first quarter of 2025.Operating Expenses: Consolidated operating expenses for the first quarter of 2026 increased 36%, or $5.4 million, to $20.3 million compared to $14.9 million for the first quarter of 2025.Net Income/(Loss): The Company reported net income of $0.6 million for the first quarter of 2026, or $0.02 per basic and diluted common share, compared to net income of $1.2 million, or $0.04 per basic and diluted common share for the first quarter of 2025.Non-GAAP: Non-GAAP net income of $3.3 million for the first quarter of 2026, or $0.10 per basic and diluted common share, compared to non-GAAP net income of $2.7 million or $0.10 per basic common share and $0.09 per diluted common share for the first quarter of 2025.EBITDA and Adjusted EBITDA: EBITDA for the first quarter of 2026 of $1.6 million compared to $1.9 million for the first quarter of 2025. Adjusted EBITDA for the first quarter of 2026 of $3.2 million compared to $2.7 million for the first quarter of 2025.Cash and Cash Equivalents: Total cash and cash equivalents at March 31, 2026 was $7.2 million compared to $31.4 million at December 31, 2025.Cash Flow: Cash provided by operating activities for the first quarter of 2026 was $2.0 million compared to cash provided by operating activities of $1.2 million for the first quarter of 2025. Cash used in investing activities for the first quarter of 2026 was ($26.2) million compared to nill for the first quarter of 2025. Cash provided by financing activities for the first quarter of 2026 was $0.1 million compared to cash provided by financing activities of $1.8 million for the first quarter of 2025.Management Commentary"Our first quarter results reflect continued strong execution and further validate the scalability of our operating model. Total revenue increased 29% year over year to $20.7 million, and we delivered GAAP net income of $0.6 million alongside non-GAAP net income of $3.3 million. Importantly, we extended our streak of GAAP profitability to 10 consecutive quarters, despite absorbing acquisition related expenses and additional amortization expenses related to the intangible assets recorded in connection with the Estech Systems ("ESI") acquisition, which are fully reflected in our GAAP results." Said Jeff Korn, CEO and Chairman. "The ESI acquisition is performing ahead of our expectations and is already contributing meaningfully to both revenue and operational momentum. Integration is progressing well, with strong alignment across sales, operations, and engineering, and we are beginning to see early synergies that we expect to build on overtime. Our Q1 results only included 1 month of ESI contributions and I am excited about the impact we will see going forward from this significant acquisition."Korn added "From a profitability standpoint, our strong non-GAAP results better reflect the underlying performance of the business by excluding items such as share based compensation, acquisition related expenses, and depreciation and amortization including Acquisition related costs of $839,000 and amortization expense of $1.1 Million. These results highlight the strength of our core operations and our ability to scale efficiently while continuing to invest in growth initiatives. We also continued to enhance our platform during the quarter, improving functionality, user experience, and overall competitiveness. We released our Crexendo AI Receptionist/Orchestrator (CAIRO) during the quarter and are very pleased with the early response in the market, and we will be introducing further AI enhancements. We continue to see increasing traction in our marketplace and broader ecosystem, and we are strengthening our position as a long-term platform provider and expanding our opportunity set. While we remain disciplined given the broader macro environment, our combination of sustained double-digit growth, consistent profitability, and successful integration of acquisitions positions us well as we continue to scale. We believe these dynamics, together with improving operating leverage over time, create a compelling framework for long term value creation. We are clearly on a trajectory toward $100 million in annual revenue and remain confident in our ability to execute against that path while continuing to enhance the quality and durability of our earnings."Conference CallCrexendo management will hold a conference call today, May 5, 2026, at 4:30 PM Eastern time to discuss these results. Company CEO Jeff Korn, CFO Ron Vincent, and President and COO Doug Gaylor will host the call, followed by a question-and-answer period.Dial-in Numbers:Domestic Participants: 877-545-0320
International Participants: 973-528-0002
Participant Access Code: 805100Please dial in five minutes prior to the beginning of the call at 4:30 PM Eastern time and reference participant access code 805100 and the Crexendo earnings call. A replay of the call will be available until May 19, 2026, by dialing toll-free at 877-481-4010 or 919-882-2331 for international callers. The replay passcode is 53939.About CrexendoCrexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 245 cloud communication platform software subscribers and our direct retail offering.Safe Harbor StatementThis press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "will" and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include Crexendo (i) believing that the first quarter results reflect continued strong execution and further validate the scalability of the operating model; (ii) believing that it is a positive development that the Company extended the streak of GAAP profitability despite absorbing acquisition related expenses and additional amortization expenses related to the intangible assets recorded in connection with the Estech Systems ("ESI") acquisition; (iii) believing the ESI acquisition is performing ahead of our expectations and is already contributing meaningfully to both revenue and operational momentum and that integration is progressing well, with strong alignment across sales, operations, and engineering; (iv) the Company beginning to see early synergies that it expects to build on overtime; (v) being excited about the impact it will see going forward from this significant acquisition; (vi) believing that from a profitability standpoint, the strong non-GAAP results better reflect the underlying performance of the business by excluding items such as share based compensation, acquisition related expenses, and depreciation and amortization; (vii) being very pleased with the early response in the market of Crexendo AI Receptionist/Orchestrator (CAIRO), with expecting to be introducing further AI enhancements; (viii) believing the results highlight the strength of the core operations and the ability to scale efficiently while continuing to invest in growth initiatives; (ix) having continued to enhance the platform during the quarter, improving functionality, user experience, and overall competitiveness which combined with increasing traction in its marketplace and broader ecosystem strengthening the position as a long-term platform provider and expanding the opportunity set; (x) believing the combination of sustained double-digit growth, consistent profitability, and successful integration of acquisitions positions the Company well as it continues to scale; (xi) believing these dynamics, together with improving operating leverage over time, create a compelling framework for long term value creation; and (xii) clearly being on a trajectory toward $100 million in annual revenue while remaining confident in the ability to execute against that path while continuing to enhance the quality and durability of our earnings.For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2025, quarterly Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.Company ContactCrexendo, Inc.
Doug Gaylor
President and Chief Operating Officer
602-732-7990
dgaylor@crexendo.comCREXENDO, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value and share data) March 31, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $7,249 $31,378 Trade receivables, net of allowance of $156 and $124, respectively 6,374 4,913 Contract assets, net of allowance of $2 and $0, respectively 122 - Inventories 1,170 454 Equipment financing receivables, net of allowance of $74 and $50, respectively 2,645 1,416 Contract costs 3,894 2,318 Prepaid expenses 1,332 892 Income tax receivable 204 234 Other current assets 36 292 Total current assets 23,026 41,897 Contract assets, net of current position, net of allowance of $122 and $145, respectively 665 402 Long-term equipment financing receivables, net of allowance of $151 and $107, respectively 5,517 3,223 Property and equipment, net 439 195 Operating lease right-of-use assets 865 1,006 Intangible assets, net 40,136 17,860 Goodwill 14,215 9,454 Contract costs, net of current portion 6,075 3,319 Other long-term assets 343 330 Total Assets $91,281 $77,686 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $2,644 $649 Accrued expenses 9,891 8,391 Finance leases 2 2 Notes payable - 114 Operating lease liabilities 503 493 Income tax payable 147 151 Contract liabilities 3,601 2,528 Total current liabilities 16,788 12,328 Contract liabilities, net of current portion 1,382 1,008 Operating lease liabilities, net of current portion 400 529 Total liabilities 18,570 13,865 Stockholders' equity: Preferred stock, par value $0.001 per share - authorized 5,000,000 shares; none issued - - Common stock, par value $0.001 per share - authorized 50,000,000 shares, 32,392,643 shares issued and outstanding as of March 31, 2025 and 31,004,327 shares issued and outstanding as of December 31, 2025 32 31 Additional paid-in capital 153,653 145,325 Accumulated deficit (81,141) (81,719)Accumulated other comprehensive income 167 184 Total stockholders' equity 72,711 63,821 Total Liabilities and Stockholders' Equity $91,281 $77,686 CREXENDO, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share and share data) Three Months Ended March 31, 2026 2025 Service revenue $10,561 $8,182 Software solutions revenue 7,723 6,868 Product revenue 2,426 1,007 Total revenue 20,710 16,057 Operating expenses: Cost of service revenue 3,884 3,487 Cost of software solutions revenue 2,436 1,490 Cost of product revenue 1,673 599 Selling and marketing 5,654 4,289 General and administrative 5,056 3,519 Research and development 1,567 1,523 Total operating expenses 20,270 14,907 Income/(loss) from operations 440 1,150 Other income/(expense): Interest income 159 84 Interest expense - (9)Other income/(expense), net 8 (10)Total other income/(expense), net 167 65 Income/(loss) before income tax 607 1,215 Income tax (provision)/benefit (29) (44) Net income/(loss) $578 $1,171 Earnings per common share: Basic $0.02 $0.04 Diluted $0.02 $0.04 Weighted-average common shares outstanding: Basic 31,533,566 28,024,280 Diluted 32,683,949 31,092,775 CREXENDO, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands) Three Months Ended March 31, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income/(loss) $578 $1,171 Adjustments to reconcile net income/(loss) to net cash provided by/(used for) operating activities: Depreciation and amortization 1,169 771 Allowance for credit losses (6) (112)Share-based compensation 721 726 Non-cash operating lease amortization 22 24 Changes in assets and liabilities: Trade receivables (1,195) 273 Contract assets 155 (8)Equipment financing receivables 156 (115)Inventories 186 (183)Contract costs (319) (192)Prepaid expenses (180) (117)Income tax receivable 30 33 Other assets 255 (4)Accounts payable and accrued expenses 248 (695)Income tax payable (4) - Contract liabilities 221 (334)Net cash provided by/(used for) operating activities 2,037 1,238 CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of a business, net of cash acquired (26,210) - Net cash provided by/(used for) investing activities (26,210) - CASH FLOWS FROM FINANCING ACTIVITIES Repayments made on finance leases - (19)Repayments made on notes payable (114) (117)Proceeds from exercise of options 307 1,979 Taxes paid on the net settlement of stock options and RSUs (132) (80)Net cash provided by/(used for) financing activities 61 1,763 Effect of exchange rate changes on cash (17) 13 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (24,129) 3,014 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 31,378 18,193 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR $7,249 $21,207 Supplemental disclosure of cash flow information: Cash used during the year for: Income taxes, net $- $(10)Interest expense $(1) $(8)Supplemental disclosure of non-cash investing and financing information: Stock issued for the acquisition of ESI $7,433 $- Use of Non-GAAP Financial MeasuresTo evaluate our business, we consider and use non-generally accepted accounting principles ("Non-GAAP") net income and Adjusted EBITDA as a supplemental measure of operating performance. These measures include the same adjustments that management takes into account when it reviews and assesses operating performance on a period-to-period basis. We consider Non-GAAP net income to be an important indicator of overall business performance because it allows us to evaluate results without the effects of share-based compensation and related taxes, acquisition related expenses, changes in fair value of contingent consideration, amortization of intangibles, and goodwill and long-lived asset impairment. We define EBITDA as U.S. GAAP net income/(loss) before interest expense, interest income and other expense/(income), the gain/(loss) on the sale of property and equipment, goodwill and long-lived asset impairments, provision/(benefit) for income taxes, and depreciation and amortization. We believe EBITDA provides a useful metric to investors to compare us with other companies within our industry and across industries. We define Adjusted EBITDA as EBITDA adjusted for acquisition related expenses, changes in fair value of contingent consideration and share-based compensation and related taxes. We use Adjusted EBITDA as a supplemental measure to review and assess operating performance. We also believe use of Adjusted EBITDA facilitates investors' use of operating performance comparisons from period to period, as well as across companies.In our May 5, 2026 earnings press release, as furnished on Form 8-K, we included Non-GAAP net income, EBITDA and Adjusted EBITDA. The terms Non-GAAP net income, EBITDA, and Adjusted EBITDA are not defined under U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in analytical tools, and when assessing our operating performance, Non-GAAP net income, EBITDA, and Adjusted EBITDA should not be considered in isolation, or as a substitute for net income/(loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:EBITDA and Adjusted EBITDA do not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;they do not reflect changes in, or cash requirements for, our working capital needs;they do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt that we may incur;they do not reflect income taxes or the cash requirements for any tax payments;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will be replaced sometime in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements;while share-based compensation is a component of operating expense, the impact on our financial statements compared to other companies can vary significantly due to such factors as the assumed life of the options and the assumed volatility of our common stock; andother companies may calculate EBITDA and Adjusted EBITDA differently than we do, limiting their usefulness as comparative measures.We compensate for these limitations by relying primarily on our U.S. GAAP results and using Non-GAAP net income, EBITDA, and Adjusted EBITDA only as supplemental support for management's analysis of business performance. Non-GAAP net income, EBITDA and Adjusted EBITDA are calculated as follows for the periods presented.Reconciliation of Non-GAAP Financial MeasuresIn accordance with the requirements of Regulation G issued by the SEC, we are presenting the most directly comparable U.S. GAAP financial measures and reconciling the unaudited Non-GAAP financial metrics to the comparable U.S. GAAP measures.Reconciliation of U.S. GAAP Net Income/(Loss) to Non-GAAP Net Income (Unaudited, in thousands, except for per share and share data) Three Months Ended March 31, 2026 2025 U.S. GAAP net income/(loss) $578 $1,171 Share-based compensation and related taxes (1) 727 798 Acquisition related expenses 839 - Amortization of intangible assets 1,124 706 Non-GAAP net income $3,268 $2,675 Non-GAAP earnings per common share: Basic $0.10 $0.10 Diluted $0.10 $0.09 Weighted-average common shares outstanding: Basic 31,533,566 28,024,280 Diluted 32,392,643 31,092,775 Reconciliation of U.S. GAAP Net Income/(Loss) to EBITDA to Adjusted EBITDA (Unaudited, in thousands) Three Months Ended March 31, 2026 2025 U.S. GAAP net income/(loss) $578 $1,171 Depreciation and amortization 1,169 771 Interest expense - 9 Other, net (167) (74)Income tax provision 29 44 EBITDA 1,609 1,921 Share-based compensation and related taxes (1) 727 798 Acquisition related expenses 839 - Adjusted EBITDA $3,175 $2,719 (1) For the three months ended March 31, 2026 and 2025, employer payroll tax expense related to share-based compensation was $6 and $72, respectively.SOURCE: Crexendo, Inc.View the original press release on ACCESS NewswireOriginal: Crexendo Announces First Quarter 2026 Results
US Market News
2月前
Crexendo and Pronto Mobile Partner to Power Breakthrough Mobile Reliability for BusinessApril 7, 2026 9:00 AM
ACCESS NewswirePHOENIX, AZ / ACCESS Newswire / April 7, 2026 / Crexendo®, Inc. (NASDAQ:CXDO), an award-winning software technology company supporting over 7 million end-users, and a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, today announced that mobile innovator Pronto Mobile has selected the Crexendo platform as its cloud communications solution. Pronto Mobile's selection of Crexendo further demonstrates Crexendo's growing momentum with next-generation service providers. This strategic win highlights Crexendo's ability to support high-growth, software-driven communications providers seeking scalable, cloud-native platformsPronto Mobile delivers business-grade mobile reliability through automatic real-time switching across all major US networks-one affordable plan, one number, with dramatically more high-reliability coverage nationwide. For America's 48 million on-the-go small business professionals, unreliable mobile is a critical pain point: 80% report serious productivity losses and 63% experience service interruptions at least weekly. To launch this industry-first solution, Pronto Mobile selected Crexendo to add a carrier-grade, cloud-native platform capable of supporting scalable growth and advanced service development."To deliver unmatched mobile reliability to our business customers, we needed a carrier-grade platform that could scale with us and support advanced innovation, including AI-driven capabilities," said Pronto Mobile Co-Founder and CEO, Jeff Buckwalter. "Crexendo gives us a modern communications platform designed for service providers, one that allows us to innovate quickly, integrate intelligently, and build new capabilities without compromising reliability or performance.""Modern service providers need a platform that keeps pace with their ambition, one that removes friction from innovation" said Jeff Korn, CEO of Crexendo. "Pronto Mobile selected Crexendo because our AI-ready, cloud-native platform architecture delivered through Oracle Cloud Infrastructure (OCI) enables providers to accelerate time to market, scale efficiently, and deliver differentiated services. By operating in our OCI hosted cloud through a subscription model, Pronto Mobile gains the speed, control, and extensibility needed to continuously evolve its services and bring new capabilities to the market faster.Korn added "Pronto Mobile's selection of Crexendo validates the company's strategy of delivering carrier-grade, cloud-native platforms purpose-built for service providers. As more communications providers seek flexibility in how they consume and deploy software-driven solutions, Crexendo enables them to scale faster, innovate without boundaries, and retain control of their communications roadmap, reinforcing the platform's core role in next-generation business communications We believe we are well positioned to capture increasing share as the communications industry continues to shift toward software-driven platforms."About Crexendo
Crexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 240 cloud communication platform software subscribers and our direct retail offering. For more information, please visit www.crexendo.com.About Pronto Mobile
Built for the forty-eight million on-the-go small business professionals who can't afford hit-or-miss mobile, Pronto Mobile delivers unbeatable mobile reliability. Only Pronto offers one plan, one number, access to all the major networks, with real-time switching to the best available connection. Founded by telecom veterans Jeff Buckwalter and Peter Macnee, who built and scaled Virgin Mobile Latin America to over three million customers, Pronto Mobile is poised for growth with over 20,000 sales, trades, and other on-the-go professionals that pre-registered for the service. First invitations started going out in March 2026. Learn more at www.prontomobile.com.Safe Harbor Statement
This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor'' for such forward-looking statements. The words, "believe,'' "expect,'' "anticipate,'' "estimate," "will'' and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include information about Crexendo (i) the expected benefits, performance, scalability, and capabilities of its cloud communications platform, (ii) the anticipated success, growth, and market adoption of Pronto Mobile's services powered by the Crexendo platform, and (iii) Crexendo's ability to continue to innovate, scale, and deliver carrier-grade, cloud-native solutions for service providers.For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2025, and Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.Crexendo Contact:
Doug Gaylor
President and Chief Operating Officer
US Market News
3月前
Crexendo Strengthens Market Leadership in G2 Spring 2026 ReportsMarch 17, 2026 9:00 AM
ACCESS NewswirePHOENIX, AZ / ACCESS Newswire / March 17, 2026 / Crexendo®, Inc. (NASDAQ:CXDO), ("Crexendo" or the "Company"), an award-winning software technology company supporting over 7 million end-users, and a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, announced today that the company has received multiple #1 rankings and awards from G2.com. Crexendo was recognized for the highly acclaimed #1 rankings for Best Usability, Best Support, and Most Likely to Recommend in the G2 Spring 2026 Reports for VoIP, UCaaS, Contact Center, and Customer Communications Management by G2.com, which is the leading business software review platform, empowering buyers with real-world insights backed by verified customer reviews.Crexendo has consistently received top ratings from real users on G2, and that recognition continued in the Spring reports with the company receiving #1 rankings for Ease of Use for the 18th consecutive quarter and Quality of Support for the 17th consecutive quarter. Winning Best Usability and Best Support awards on an ongoing basis highlights Crexendo's commitment to delivering powerful cloud business communications solutions with cutting edge features that are easy to use, simple to manage, and backed by industry-leading customer support.Customer recognition on G2 is particularly meaningful because rankings are based entirely on verified user reviews and adoption data. Crexendo's consistent #1 rankings reflect the platform's ability to deliver reliable communications infrastructure, strong customer support, and rapid deployment capabilities for service providers and enterprise customers.The Spring 2026 reports continue a long track record of strong user satisfaction, with Crexendo maintaining several long-standing #1 rankings including:Ease of Use - 18 consecutive quartersQuality of Support - 17 consecutive quartersEase of Doing Business With - 18 consecutive quartersBest Meets Requirements - 17 consecutive quartersUsers Most Likely to Recommend - 12 consecutive quartersCrexendo also received the Highest User Adoption award, reflecting continued expansion of the company's platform, which now exceeds 7 million users globally. In addition, Crexendo received #1 rankings in numerous UCaaS capability categories. Overall, the company maintained its 4.9 out of 5-star rating for 16 consecutive quarters, one of the highest sustained ratings in the industry.Crexendo was also recognized as a Momentum Leader in G2's Momentum Grid Reports for VoIP, UCaaS, and Customer Communications Management. These rankings reflect the company's accelerating platform adoption, expanding partner ecosystem, and continued innovation, including the integration of AI-driven capabilities across the Crexendo platform."We are proud to see our platform consistently recognized by users across multiple categories on G2.com," said Jeff Korn, Chairman and Chief Executive Officer of Crexendo. "These rankings reflect the strength of our cloud communications platform, the dedication of our support organization, and the continued innovation we are delivering across AI-powered communications. As our platform continues to scale globally and surpass seven million users, we believe this level of customer validation reinforces the long-term growth opportunity for Crexendo.""Being included in a G2 Report is more than a badge-it's proof that a product is delivering meaningful impact for real customers," said Eric Gilpin, President, GTM at G2. "Congratulations to Crexendo for earning this recognition through the authentic voice of their users."Crexendo continues to be a leading platform for organizations modernizing their communications infrastructure with scalable, AI-enabled cloud solutions. The company now supports over 7 million end users across more than 350,000 organizations worldwide through its expanding partner ecosystem and direct offerings. According to industry research from Frost & Sullivan, Crexendo is the fastest-growing cloud communications platform provider in the United States, growing at more than twice the industry average. The company's software-first platform strategy enables service providers and enterprises to deliver advanced communications capabilities while reducing infrastructure complexity and accelerating deployment.About Crexendo
Crexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 240 cloud communication platform software subscribers and our direct retail offering. For more information, please visit www.crexendo.com.About G2
G2 is the world's largest and most trusted software marketplace. More than 100 million people annually - including employees at all Fortune 500 companies - use G2 to make smarter software decisions based on authentic peer reviews. Thousands of software companies partner with G2 to build their reputation and grow their business - including Salesforce, HubSpot, Zoom, and Adobe. To learn more about where you go for software, visit www.g2.com.Safe Harbor Statement
This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words, "believe," "expect," "anticipate," "estimate," "will," "look forward," and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include information about Crexendo (i) being proud that their platform is consistently recognized by users across multiple categories on G2.com; (ii) believing these rankings reflect the strength of our cloud communications platform, the dedication of the support organization, and the continued innovation being delivering across AI-powered communications; believing that as the platform continues to scale globally and surpass seven million users this level of customer validation reinforces the long-term growth opportunity for Crexendo and (iv) believing that being included in a G2 Report is more than a badge it's proof that a product is delivering meaningful impact for real customers.For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2025, and Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.Crexendo Contact:
Doug Gaylor
President and Chief Operating Officer
US Market News
3月前
Crexendo Announces Strong Fourth Quarter and Fiscal Year 2025 ResultsMarch 3, 2026 4:00 PM
ACCESS NewswirePHOENIX, ARIZONA / ACCESS Newswire / March 3, 2026 / Crexendo, Inc. (NASDAQ:CXDO), an award-winning software technology company that is a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, today announced financial results for the fourth quarter and fiscal year ended December 31, 2025.Financial highlights:Net income for the year of $5.1 million and non-GAAP net income of $11.4 million.Revenue for the year of $68.2 million, up 12% year-over-year.Fourth quarter net income of $1.2 million and non-GAAP net income of $2.8 million.Fourth quarter revenue of $18.1 million, up 11% year-over-year.Financial Results for the Fourth Quarter of 2025Total Revenue: Consolidated total revenue for the fourth quarter of 2025 increased 11%, or $1.8 million, to $18.1 million compared to $16.2 million for the fourth quarter of 2024.Service Revenue: Consolidated service revenue for the fourth quarter of 2025 increased 8%, or $0.6 million, to $8.6 million compared to $8.0 million for the fourth quarter of 2024.Software Solutions Revenue: Consolidated software solutions revenue for the fourth quarter of 2025 increased 18%, or $1.3 million, to $8.3 million compared to $7.0 million for the fourth quarter of 2024.Product Revenue: Consolidated product revenue for the fourth quarter of 2025 decreased 6%, or $(0.1) million, to $1.1 million compared to $1.2 million for the fourth quarter of 2024.Operating Expenses: Consolidated operating expenses for the fourth quarter of 2025 increased 8%, or $1.3 million, to $16.9 million compared to $15.6 million for the fourth quarter of 2024.Net Income/(Loss): The Company reported net income of $1.2 million for the fourth quarter of 2025, or $0.04 per basic and diluted common share, compared to net income of $0.5 million, or $0.02 per basic and diluted common share for the fourth quarter of 2024.Non-GAAP: Non-GAAP net income of $2.8 million for the fourth quarter of 2025, or $0.09 per basic and diluted common share, compared to non-GAAP net income of $2.0 million or $0.07 per basic common share and $0.06 per diluted common share for the fourth quarter of 2024.EBITDA and Adjusted EBITDA: EBITDA for the fourth quarter of 2025 of $2.0 million compared to $1.5 million for the fourth quarter of 2024. Adjusted EBITDA for the fourth quarter of 2025 of $2.8 million compared to $2.2 million for the fourth quarter of 2024.Financial Results for the Full Year 2025Total Revenue: Consolidated total revenue for the year ended December 31, 2025 increased 12%, or $7.3 million, to $68.2 million compared to $60.8 million for the year ended December 31, 2024.Service Revenue: Consolidated service revenue for the year ended December 31, 2025 increased 6%, or $1.9 million, to $33.8 million compared to $31.8 million for the year ended December 31, 2024.Software Solutions Revenue: Consolidated software solutions revenue for the year ended December 31, 2025 increased 27%, or $6.3 million, to $29.7 million compared to $23.4 million for the year ended December 31, 2024.Product Revenue: Consolidated product revenue for the year ended December 31, 2025 decreased 16%, or $(0.9) million, to $4.7 million compared to $5.6 million for the year ended December 31, 2024.Operating Expenses: Consolidated operating expenses for the year ended December 31, 2025 increased 8%, or $4.5 million, to $63.5 million compared to $59.0 million for the year ended December 31, 2024.Net Income/(Loss): The Company reported net income of $5.1 million for the year ended December 31, 2025, or $0.17 per basic common share and $0.16 per diluted common share, compared to net income of $1.7 million, or $0.06 per basic and diluted common share for the year ended December 31, 2024.Non-GAAP: Non-GAAP net income of $11.4 million for the year ended December 31, 2025, or $0.38 per basic common share and $0.36 per diluted common share, compared to non-GAAP net income of $7.7 million or $0.29 per basic common share and $0.26 per diluted common share for the year ended December 31, 2024.EBITDA and Adjusted EBITDA: EBITDA for the year ended December 31, 2025 of $8.0 million compared to $5.2 million for the year ended December 31, 2024. Adjusted EBITDA for the year ended December 31, 2025 of $11.2 million compared to $8.2 million for the year ended December 31, 2024.Cash and Cash Equivalents: Total cash and cash equivalents at December 31, 2025 was $31.4 million compared to $18.2 million at December 31, 2024.Cash Flow: Cash provided by operating activities for the year ended December 31, 2025 was $9.3 million compared to cash provided by operating activities of $6.3 million for the year ended December 31, 2024. Cash used in investing activities was $(18) compared to cash used in investing activities of $(27) for the year ended December 31,2024. Cash provided by financing activities for the year ended December 31, 2025 was $3.9 million compared to cash provided by financing activities of $1.6 million for the year ended December 31, 2024.Management Commentary"I am extremely pleased with our 2025 performance and proud of the team that delivered on our commitments of profitable double digit organic growth," said Jeff Korn, Chairman and CEO. "We generated full-year net income of $5.1 million and non-GAAP net income of $11.4 million on revenue of $68.2 million, up 12% year-over-year. Fourth quarter revenue increased 11% to $18.1 million, with net income of $1.2 million and non-GAAP net income of $2.8 million, reflecting disciplined execution and sustained profitability. This was our tenth consecutive GAAP profitable quarter and our 29th consecutive Non-GAAP profitable quarter. This month marks my third year as CEO. When the team and I assumed leadership in 2023, revenue was approximately $53 million, and the company was burning about $100,000 per month. Today, we are consistently cash flow positive, have grown annual revenue by more than $15 million, and expanded both profitability and EBITDA. Our platform has scaled meaningfully. We have grown from just over 4 million users 3 years ago to more than 7 million users today, representing approximately 75% growth in under three years. This scale underscores our product leadership, operational discipline, and partner-first strategy. Further we committed to a disciplined strategy of driving profitable organic growth while pursuing accretive acquisitions, and having successfully delivered on the organic component, our exciting announcement on the acquisition of ESI this week demonstrates how we will now accelerate that growth through strategic M&A."Korn added "Customer service remains a core differentiator. We continue to lead the industry in G2 customer satisfaction rankings based on verified reviews. At the same time, we are aggressively advancing our AI strategy. Early feedback on CAIRO, our AI operator, has been highly encouraging, and we believe it has the potential to transform the SMB market by enabling small businesses to operate with enterprise-grade capabilities. Our innovation was recognized for the second consecutive year with the Generative AI Product of the Year award, along with 42 additional G2 Winter 2026 awards across Platform AI and Contact Center categories. We also launched our Marketplace, which we believe will accelerate partner deployment of certified solutions, shorten time to value, expand ecosystem monetization, and create incremental revenue share opportunities. I highlight these results not as a reflection of past success, but as evidence of consistent execution. We have strengthened profitability, accelerated growth, expanded our platform, and invested in innovation. Based on this track record, I am confident we will continue to deliver and believe our most significant opportunities remain ahead of us."Conference CallCrexendo management will hold a conference call today, March 3, 2026, at 4:30 PM Eastern time to discuss these results. Company CEO Jeff Korn, CFO Ron Vincent, and President and COO Doug Gaylor will host the call, followed by a question-and-answer period.Dial-in Numbers:
Domestic Participants: 888-506-0062
International Participants: 973-528-0011
Participant Access Code: 146313Please dial in five minutes prior to the beginning of the call at 4:30 PM Eastern time and reference participant access code 146313 and the Crexendo earnings call. A replay of the call will be available until March 17, 2026, by dialing toll-free at 877-481-4010 or 919-882-2331 for international callers. The replay passcode is 53594.About CrexendoCrexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 240 cloud communication platform software subscribers and our direct retail offering.Safe Harbor StatementThis press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "will" and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include Crexendo (i) results reflecting disciplined execution and sustained profitability; (ii) being consistently cash flow positive and expanded both profitability and EBITDA with the platform having scaled meaningfully; (iii) platform scale underscoring product leadership, operational discipline, and partner-first strategy; (iv) being committed to a disciplined strategy of driving profitable organic growth while pursuing accretive acquisitions and having successfully delivered on the organic component with the acquisition of ESI accelerating that growth through strategic M&A; (v) customer service remains a core differentiator; (vi) aggressively advancing AI strategy with early feedback on CAIRO, being highly encouraging, and believing it has the potential to transform the SMB market by enabling small businesses to operate with enterprise-grade capabilities; (vii) innovation being recognized; (viii) believing the Marketplace will accelerate partner deployment of certified solutions, shorten time to value, expand ecosystem monetization, and create incremental revenue share opportunities and (ix) being confident it will continue to deliver and believe the most significant opportunities remain ahead.For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2025, quarterly Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.Company ContactCrexendo, Inc.
Doug Gaylor
President and Chief Operating Officer
602-732-7990
dgaylor@crexendo.comCrexendo, Inc. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except par value and share data) December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $31,378 $18,193 Trade receivables, net of allowance of $124 and $146, respectively 4,913 4,352 Inventories 454 393 Equipment financing receivables, net of allowance of $50 and $69, respectively 1,416 1,049 Contract costs 2,318 1,931 Prepaid expenses 892 876 Income tax receivable 234 75 Other current assets 292 13 Total current assets 41,897 26,882 Contract assets, net of allowance of $145 and $127, respectively 402 406 Long-term equipment financing receivables, net of allowance of $107 and $157, respectively 3,223 2,397 Property and equipment, net 195 394 Operating lease right-of-use assets 1,006 1,491 Intangible assets, net 17,860 20,528 Goodwill 9,454 9,454 Contract costs, net of current portion 3,319 2,879 Other long-term assets 330 507 Total Assets $77,686 $64,938 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $649 $1,003 Accrued expenses 8,391 6,992 Finance leases 2 21 Notes payable 114 478 Operating lease liabilities 493 481 Income tax payable 151 40 Contract liabilities 2,528 3,079 Total current liabilities 12,328 12,094 Contract liabilities, net of current portion 1,008 293 Finance leases, net of current portion - 2 Notes payable, net of current portion - 114 Operating lease liabilities, net of current portion 529 1,022 Total liabilities 13,865 13,525 Commitments and contingencies (Note 17) Stockholders' equity: Preferred stock, par value $0.001 per share - authorized 5,000,000 shares; none issued - - 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 28 Additional paid-in capital 145,325 138,015 Accumulated deficit (81,719) (86,790)Accumulated other comprehensive income 184 160 Total stockholders' equity 63,821 51,413 Total Liabilities and Stockholders' Equity $77,686 $64,938 CREXENDO, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
(In thousands, except per share and share data) Year Ended December 31, 2025 2024 Service revenue $33,782 $31,849 Software solutions revenue 29,664 23,374 Product revenue 4,721 5,615 Total revenue 68,167 60,838 Operating expenses: Cost of service revenue 14,153 13,087 Cost of software solutions revenue 8,275 6,793 Cost of product revenue 2,835 3,215 Selling and marketing 17,771 16,538 General and administrative 14,723 13,829 Research and development 5,720 5,552 Total operating expenses 63,477 59,014 Income/(loss) from operations 4,690 1,824 Other income/(expense): Interest income 637 191 Interest expense (19) (42)Other income/(expense) 63 (84)Total other income/(expense), net 681 65 Income/(loss) before income tax 5,371 1,889 Income tax benefit/(provision) (300) (212) Net income/(loss) $5,071 $1,677 Earnings per common share: Basic $0.17 $0.06 Diluted $0.16 $0.06 Weighted-average common shares outstanding: Basic 29,681,847 26,757,242 Diluted 31,641,294 30,019,359 CREXENDO, INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In thousands) Year Ended December 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income/(loss) $5,071 $1,677 Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities: Depreciation and amortization 3,295 3,331 Share-based compensation 2,932 3,002 Non-cash operating lease amortization 4 (18)Allowance for credit losses (73) 127 Changes in assets and liabilities: Trade receivables (539) (906)Contract assets (14) (106)Equipment financing receivables (1,124) (877)Inventories (61) (11)Contract costs (827) (1,192)Prepaid expenses (16) (368)Income tax receivable (159) (75)Other assets (512) (346)Accounts payable and accrued expenses 1,045 1,275 Income tax payable 111 (13)Contract liabilities 164 784 Net cash provided by/(used in) operating activities 9,297 6,284 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (18) (27)Net cash provided by/(used in) investing activities (18) (27) CASH FLOWS FROM FINANCING ACTIVITIES Repayments made on finance leases (21) (75)Repayments made on notes payable (478) (457)Proceeds from exercise of options 4,870 2,370 Taxes paid on the net settlement of stock options and RSUs (489) (243)Net cash provided by/(used for) financing activities 3,882 1,595 Effect of exchange rate changes on cash 24 (6)NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 13,185 7,846 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 18,193 10,347 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR $31,378 $18,193 Supplemental disclosure of cash flow information: Cash used during the year for: Income taxes, net $(314) $(300)Interest expense $(17) $(32)Supplemental disclosure of non-cash investing and financing information: Capitalized software development costs $410 $- Use of Non-GAAP Financial MeasuresTo evaluate our business, we consider and use non-generally accepted accounting principles ("Non-GAAP") net income and Adjusted EBITDA as a supplemental measure of operating performance. These measures include the same adjustments that management takes into account when it reviews and assesses operating performance on a period-to-period basis. We consider Non-GAAP net income to be an important indicator of overall business performance because it allows us to evaluate results without the effects of share-based compensation and related taxes, acquisition related expenses, changes in fair value of contingent consideration, amortization of intangibles, and goodwill and long-lived asset impairment. We define EBITDA as U.S. GAAP net income/(loss) before interest expense, interest income and other expense/(income), the gain/(loss) on the sale of property and equipment, goodwill and long-lived asset impairments, benefit/(provision) for income tax, and depreciation and amortization. We believe EBITDA provides a useful metric to investors to compare us with other companies within our industry and across industries. We define Adjusted EBITDA as EBITDA adjusted for acquisition related expenses, changes in fair value of contingent consideration and share-based compensation and related taxes. We use Adjusted EBITDA as a supplemental measure to review and assess operating performance. We also believe use of Adjusted EBITDA facilitates investors' use of operating performance comparisons from period to period, as well as across companies.In our March 3, 2026 earnings press release, as furnished on Form 8-K, we included Non-GAAP net income, EBITDA and Adjusted EBITDA. The terms Non-GAAP net income, EBITDA, and Adjusted EBITDA are not defined under U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in analytical tools, and when assessing our operating performance, Non-GAAP net income, EBITDA, and Adjusted EBITDA should not be considered in isolation, or as a substitute for net income/(loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:EBITDA and Adjusted EBITDA do not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;they do not reflect changes in, or cash requirements for, our working capital needs;they do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt that we may incur;they do not reflect income taxes or the cash requirements for any tax payments;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will be replaced sometime in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements;while share-based compensation is a component of operating expense, the impact on our financial statements compared to other companies can vary significantly due to such factors as the assumed life of the options and the assumed volatility of our common stock; andother companies may calculate EBITDA and Adjusted EBITDA differently than we do, limiting their usefulness as comparative measures.We compensate for these limitations by relying primarily on our U.S. GAAP results and using Non-GAAP net income, EBITDA, and Adjusted EBITDA only as supplemental support for management's analysis of business performance. Non-GAAP net income, EBITDA and Adjusted EBITDA are calculated as follows for the periods presented.Reconciliation of Non-GAAP Financial MeasuresIn accordance with the requirements of Regulation G issued by the SEC, we are presenting the most directly comparable U.S. GAAP financial measures and reconciling the unaudited Non-GAAP financial metrics to the comparable U.S. GAAP measures.Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income
(Unaudited, in thousands, except per share and share data) Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 (In thousands) (In thousands) U.S. GAAP net income/(loss) $1,218 $507 $5,071 $1,677 Share-based compensation and related taxes (1) 747 709 3,169 3,002 Acquisition related expenses 51 - 51 - Amortization of intangible assets 786 755 3,078 3,028 Non-GAAP net income $2,802 $1,971 $11,369 $7,707 Non-GAAP earnings per common share: Basic $0.09 $0.07 $0.38 $0.29 Diluted $0.09 $0.06 $0.36 $0.26 Weighted-average common shares outstanding: Basic 30,837,145 27,195,382 29,681,847 26,757,242 Diluted 32,151,192 30,547,245 31,641,294 30,019,359 Reconciliation of U.S. GAAP Net Income to EBITDA to Adjusted EBITDA
(Unaudited, in thousands) Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 (In thousands) (In thousands) U.S. GAAP net income/(loss) $1,218 $507 $5,071 $1,677 Depreciation and amortization 829 826 3,295 3,331 Interest expense 1 11 19 42 Other, net (252) (4) (700) (107)Income tax provision 165 112 300 212 EBITDA 1,961 1,452 7,985 5,155 Acquisition related expenses 51 - 51 - Share-based compensation and related taxes (1) 747 709 3,169 3,032 Adjusted EBITDA $2,759 $2,161 $11,205 $8,187 (1) For the three months ended December 31, 2025 and 2024, employer payroll tax expense related to share-based compensation was $69 and $28, respectively. For the twelve months ended December 31, 2025 and 2024, employer payroll tax expense related to share-based compensation was $237 and $59, respectively.SOURCE: Crexendo, Inc.View the original press release on ACCESS NewswireOriginal: Crexendo Announces Strong Fourth Quarter and Fiscal Year 2025 Results
US Market News
3月前
Crexendo Completes Highly Accretive Acquisition of Estech Systems, Creating Pathway to $100 Million Cloud Communications CompanyMarch 2, 2026 9:00 AM
ACCESS NewswirePHOENIX, ARIZONA / ACCESS Newswire / March 2, 2026 / Crexendo®, Inc. (NASDAQ:CXDO), ("Crexendo" or the "Company"), an award-winning software technology company that is a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, today announced that it has completed the acquisition of Estech Systems, LLC ("ESI"), a highly respected provider of cloud communication solutions, and one of Crexendo's longest-tenured NetSapiens platform licensees. The transaction represents a transformative step in Crexendo's growth strategy and significantly strengthens its position in the cloud communications market. The acquisition is expected to be immediately accretive to revenue and EBITDA, and positions Crexendo to approach $100 million run rate in annual revenue with enhanced operating leverage.Strategic and Financial Highlights (Unaudited)Acquisition expected to increase Crexendo's revenue, earnings and cash flow following closing.Purchase price of $35 million, consisting of $27.3 million in cash and $7.7 million in common stock, representing a multiple of approximately 1.35x unaudited 2025 revenue.ESI generated approximately $26 million in revenue in 2025.Expected cost synergies from facilities consolidation, licensing optimization, cross-utilization of employees, operational expenses, network expenses, and Oracle Cloud Infrastructure migration.Significant opportunity for revenue synergies through cross-selling, expanded channel reach, and platform expansion.Founded in 1987 and headquartered in Plano, Texas, ESI brings a strong sales- and engineering-driven organization, deep customer relationships, and a proven track record of delivering mission-critical communications solutions. ESI currently supports over 6,200 retail accounts and over 75,000 seats. The acquisition enhances Crexendo's market presence and expands its operational scale.Crexendo expects to realize meaningful cost synergies as workloads migrate to Oracle Cloud Infrastructure and duplicative infrastructure is consolidated. Management anticipates operational efficiencies across facilities, overhead, licensing, and network costs, while leveraging ESI's engineering and sales bench to reduce incremental hiring needs. These initiatives are expected to enhance EBITDA margins and cash flow over the next 12-24 months.Leadership Commentary"This acquisition is exactly the type of transaction we have been talking about for years," said Jeff Korn, Chairman and Chief Executive Officer of Crexendo. "ESI is a best-in-class organization with exceptional people, strong engineering capabilities, and a long history of success serving customers on our NetSapiens platform. By incorporating ESI into Crexendo, we are combining our strong double-digit organic growth with an accretive acquisition from our deep ‘fishing pond' of licensees. The result is a stronger, more scalable company with expanded capabilities for our customers, partners, and shareholders. I could not be more ecstatic about how this acquisition will positively affect our future growth and success and am excited to welcome the ESI team to Crexendo.""We are incredibly excited to join the Crexendo team," said George Platt, President & CEO of Estech Systems, LLC. "Crexendo has been a trusted partner for many years, and this transaction allows us to deliver even greater value to our customers by combining our sales, engineering, and customer support expertise with Crexendo's scale, platform innovation, and resources. Together, we are building a stronger organization that is well positioned to serve our customers for decades to come. I would also like to thank our Founder, Eric Suder, for the immeasurable impact he has made on ESI's employees, their families, our customers, and the community"Strategic RationaleThe acquisition meaningfully strengthens Crexendo's competitive position by expanding its scale, deepening its expertise in cloud communications, and reinforcing the power of the NetSapiens platform. The combined company benefits from a broader customer base, enhanced operational leverage, and a unified focus on delivering secure, scalable, and AI-enabled communications solutions.This transaction underscores Crexendo's disciplined M&A strategy: combining strong organic growth with highly accretive acquisitions drawn from its ecosystem of successful NetSapiens licensees.Mr. Korn and the management team will discuss the acquisition in more detail on the upcoming year end conference call tomorrow.About CrexendoCrexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 240 cloud communication platform software subscribers and our direct retail offering. For more information, please visit www.crexendo.com.About Estech Systems, LLC (ESI)Founded in 1987, Estech Systems, LLC is a leading provider of cloud communications solutions headquartered in Plano, Texas. With a strong focus on sales excellence, engineering innovation, and customer satisfaction, ESI has built a reputation as a trusted communications partner for organizations across the United States. For more information, please visit https://www.esi-estech.com/.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expected synergies, financial performance, growth opportunities, and strategic benefits of the acquisition. Actual results may differ materially due to risks and uncertainties, including unanticipated difficulties or expenditures related to the acquisition, integration challenges, the risk that we fail to fully realize the potential benefits, expected synergies, efficiencies and cost savings from the acquisition within the expected time period (if at all), market conditions, and other factors described in Crexendo's filings with the SEC. Crexendo undertakes no obligation to update these forward-looking statements.Company ContactCrexendo, Inc.
Doug Gaylor
President and Chief Operating Officer
602-732-7990
dgaylor@crexendo.comSOURCE: Crexendo, Inc.View the original press release on ACCESS NewswireOriginal: Crexendo Completes Highly Accretive Acquisition of Estech Systems, Creating Pathway to $100 Million Cloud Communications Company
US Market News
4月前
Crexendo Launches Marketplace to Accelerate Partner ActivationFebruary 10, 2026 9:00 AM
ACCESS NewswirePHOENIX, AZ / ACCESS Newswire / February 10, 2026 / Crexendo®, Inc. (NASDAQ:CXDO), an award-winning software technology company that is a premier provider of cloud communication platform software and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services tailored to businesses of all sizes, today announced the launch of the Crexendo Marketplace, a centralized environment designed to help service providers more easily expand, package, and monetize solutions across the Crexendo ecosystem.The Crexendo Marketplace was created in direct response to what service providers are asking for: faster innovation without added complexity. As providers look to differentiate beyond basic voice services, they need a simpler way to introduce new capabilities, respond to customer demand, and scale offerings consistently across their customer base, all without the friction traditionally associated with integrating and managing third-party solutions. The Marketplace is expected to increase partner activation rates, expand average revenue per licensee, and enhance monetization across Crexendo's growing base of NetSapiens licensees and service provider partners.The Marketplace gives service providers a single, centralized way to discover and activate certified solutions, simplifying how new capabilities are deployed across the Crexendo ecosystem. By reducing deployment complexity and accelerating time to value, it enables providers to extend platform capabilities more quickly and tailor solutions to diverse customer needs. The Marketplace includes a growing portfolio of pre-integrated solutions, led by AI-powered applications that leverage conversational intelligence to enable more natural, intent-led customer engagement, as well as mobile-first applications for field and frontline workers. With a deep and growing catalog of solutions designed to work seamlessly within Crexendo's NetSapiens platform, service providers can confidently package, deploy, and monetize additional capabilities across their customer base."The launch of the Crexendo Marketplace is about removing friction from innovation," said Jeff Korn, Chief Executive Officer & Executive Chairman of Crexendo. "Service providers don't want to spend months stitching together integrations, they want speed, confidence, and control. By making it easy to discover, activate, and deploy trusted solutions, we're giving our partners a faster path to innovation, a stronger competitive edge, and a clear way to turn platform capabilities into new, recurring revenue. With over 7 million platform users and a growing global licensee base, the Marketplace creates a scalable framework for incremental recurring revenue without materially increasing operating expenses. The Marketplace enables a streamlined model that allows partners to activate incremental services across their installed base, increasing recurring revenue per account while deepening platform engagement and making for stickier licensees."The launch of the Crexendo Marketplace underscores the company's commitment to open integration, platform extensibility, and continuous innovation across the NetSapiens platform. By simplifying access to certified solutions and streamlining deployment, Crexendo enables service providers to move faster, monetize more and deliver differentiated value while maintaining the reliability and scalability required to grow profitably.About Crexendo
Crexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platform and services, video collaboration and managed IT services tailored to businesses of all sizes. Our solutions currently support over seven million end users globally, through our extensive global network of over 240 cloud communication platform software subscribers and our direct retail offering. For more information, please visit www.crexendo.com.Safe Harbor Statement
This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words, "believe," "expect," "anticipate," "estimate," "will" and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include information about Crexendo (i) believing that the Marketplace will increase partner activation rates, expand average revenue per licensee, and enhance monetization across the growing base of NetSapiens licensees and service provider partners; (ii) believing the Marketplace has the ability to simplify deployment and enable faster time to value for service providers; (iii) belief that the Marketplace will allow service providers to more easily package, deploy, and monetize additional capabilities; (iv) expectations regarding increased flexibility, scalability, and operational efficiency for service providers using the Marketplace; (v) broader expectations regarding the Marketplace's role in supporting partner growth, platform extensibility, and long-term value creation within the NetSapiens ecosystem and (vi) believing the Marketplace creates a scalable framework for incremental recurring revenue without materially increasing operating expenses and enables a streamlined model that allows partners to activate incremental services across their installed base, increasing recurring revenue per account while deepening platform engagement and making for stickier licensees.For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2024, and Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.Crexendo Contact:
Doug Gaylor
President and Chief Operating Officer
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