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Crexendo Inc. (NASDAQ: CXDO) is a premier provider of cloud communication platforms and services designed to enhance productivity and reduce costs for businesses of all sizes, from small and medium-sized businesses (SMBs) to mid-sized enterprises. With its extensive range of services, Crexendo offers cloud telephone systems, call centers, unified communications (UCaaS), and collaboration tools, all aimed at improving business efficiency at affordable rates, typically 20-60% lower than traditional telecom expenses.
Crexendo operates through two main segments: Cloud Telecommunications and Software Solutions. The Cloud Telecommunications segment provides hardware, software, and comprehensive unified communication solutions utilizing IP or cloud technology via high-speed internet connections. The Software Solutions segment generates revenue from software licenses, maintenance support, and professional services, catering to customer support and other auxiliary services. The company also offers product warranties and derives a majority of its revenue from the Cloud Telecommunications segment.
Commitment to reliability and security is at the forefront of Crexendo’s operations. The company’s services are benchmarked against stringent security and reliability standards, with PCI compliance and registration as a Competitive Local Exchange Carrier (CLEC) across the USA and Canada. The data centers boast multiple levels of redundancy and high-level security defenses, ensuring maximum operational uptime and data protection.
In recent developments, Crexendo has achieved significant milestones and recognition in the industry. It has been awarded the 2024 North American Competitive Strategy Leadership Award by Frost & Sullivan, highlighting a remarkable 36% user growth in 2023. The company’s cloud platform now supports over four and a half million end users globally, a testament to its expanding market presence and adoption. Additionally, Crexendo has incorporated Generative AI technology powered by ChatGPT into its Contact Center solutions, enhancing real-time conversational capabilities.
Financially, Crexendo has reported robust growth, with a 24% increase in total revenue for the fourth quarter of 2023, reaching $14.2 million. The company has maintained profitability, achieving a net income of $0.4 million for the first quarter of 2024. With strategic partnerships, such as the collaboration with Oracle Cloud Infrastructure (OCI), Crexendo is well-positioned for further geographic expansion and enhanced service delivery.
Crexendo has also been recognized in G2’s Spring 2024 Reports, achieving first place in 19 customer satisfaction categories. This recognition, along with numerous industry accolades, underscores the company's commitment to delivering exceptional cloud communication solutions and customer service.
For more information about Crexendo's products and services, please visit www.crexendo.com.
Crexendo (NASDAQ:CXDO) announces that Popp Communications has selected its NetSapiens Platform to replace their legacy Microsoft Metaswitch solution. This decision comes after Microsoft's announcement of end-of-life for their Metaswitch MaX UC offering and plans to sell off their Metaswitch division.
The NetSapiens Platform, serving over 5 Million end users with hundreds of API integrations and integrated AI applications, has been recognized by Frost & Sullivan as the 'Fastest Growing UCaaS Solution in North America' for two consecutive years. Crexendo adds over 100,000 new users monthly and offers flexible deployment options with a sessions-not-seats pricing model.
Crexendo (NASDAQ:CXDO) has been recognized on the 2024 Deloitte Technology Fast 500™ list as one of North America's fastest-growing companies. The company achieved 225% growth during 2020-2023, ranking 6th in the Communications/Networking category. As the only UCaaS software platform on the list, Crexendo was acknowledged for its innovative cloud communication solutions, including voice, video, contact center, and managed IT services.
CEO Jeff Korn highlighted the company's commitment to developing cutting-edge software and technology, particularly noting their recent innovations in AI technology through their VIP CX cloud contact center platform and VIP Voice AI Studio offerings. The recognition marks the 30th year of Deloitte's prestigious ranking program, which celebrates companies driving innovation across technology, media, telecommunications, life sciences, fintech, and energy tech sectors.
Crexendo's NetSapiens platform has been awarded the 2024 Generative AI Expo Product of the Year Award by TMC. The platform, serving over 5 million users, integrates AI technology to enhance customer communications through features like NetSapiens Voice Studio, which creates automated personalized greetings and messages. The system provides real-time transcripts with sentiment analysis, call topic summaries, and AI-powered voicemail transcription.
The platform grows at more than 2X the industry average and offers service providers a unique business model without traditional per-seat fees, enabling rapid scaling and migration from legacy systems.
Crexendo announced that Akabis has selected its NetSapiens Platform to replace their Microsoft Metaswitch platform following Microsoft's end-of-life announcement for Max-UC solution. Akabis chose Crexendo after a comprehensive review, citing the platform's open architecture and distinctive branding capabilities. Crexendo, currently the third largest telecom software platform provider, reports adding over 100,000 users monthly to its platform. The company emphasizes its AI integration and positions itself as a leading choice for service providers migrating from Metaswitch MaX UC.
Crexendo (NASDAQ:CXDO) reported strong Q3 2024 financial results with total revenue increasing 13% year-over-year to $15.6 million. The company's software solutions revenue grew 25% to $5.9 million, while service revenue increased 6% to $8.0 million. Net income was $0.1 million ($0.01 per basic share), compared to $1.7 million in Q3 2023. Non-GAAP net income reached $1.6 million ($0.06 per share). Cash and cash equivalents stood at $15.5 million, up from $10.3 million at the end of 2023. The company is investing in infrastructure improvements, including Oracle Cloud Infrastructure migration, and expects continued double-digit growth through Q4 and into 2025.
Crexendo (Nasdaq: CXDO) completed its most successful Codefest during its annual User Group Meeting in Nashville, featuring 16 innovative entries focused on AI-driven solutions and enhanced collaboration tools. The event showcased solutions built on Crexendo's NetSapiens Platform open API framework. CCT Solutions from Germany and Netlink Voice from the US emerged as winners. CCT Solutions presented MX Cloud, a multi-experience Contact Center solution, while Netlink Voice demonstrated their Horizon Toolkit for enhanced platform management. Selected solutions will be available in the upcoming NetSapiens Platform Marketplace, creating new revenue opportunities through revenue sharing.
Crexendo's NetSapiens Platform User Group Meeting (UGM) has kicked off in Nashville with record attendance and participation. The sold-out event, running from October 21st to 24th, 2024, has seen a 35% year-over-year increase in partner participation. It marks the first in-person meeting of the International Partner Advisory Council, bringing together partners from outside North America.
The UGM showcases the NetSapiens software platform's growth, which now supports over five million end users globally and is adding 100,000+ new users monthly. The event features top service providers, partners, and ecosystem vendors, focusing on AI-driven innovations and the future of communications technology.
Crexendo CEO Jeff Korn highlighted the event's significance, noting it reinforces Frost & Sullivan's recognition of NetSapiens as the fastest-growing UCaaS platform in North America. The company expects the international market to be a substantial driver of future growth.
Crexendo (NASDAQ:CXDO) has announced its upcoming third quarter 2024 financial results conference call, scheduled for November 6, 2024, at 4:30 PM ET. The call will feature prepared remarks from key executives, including Jeff Korn (CEO), Doug Gaylor (President and COO), and Ron Vincent (CFO), followed by a Q&A session.
Participants can join the call using the following dial-in numbers:
- Domestic: 888-506-0062
- International: 973-528-0011
Crexendo (NASDAQ:CXDO) has announced SNOM as the official event sponsor for the upcoming NetSapiens Platform User Group Meeting (UGM) 2024, scheduled from October 21st to 24th in Nashville, TN. The annual event gathers service providers, partners, and vendors who use the NetSapiens platform for UCaaS and AI-driven cloud communications solutions.
The NetSapiens Platform, supporting over 5 million end users, was recently recognized as the fastest growing UCaaS platform in North America by Frost & Sullivan. Crexendo currently supports 11 SNOM devices and plans to expand support for additional models in the next platform release.
As the event sponsor, SNOM will showcase their latest VoIP innovations and demonstrate integration with the NetSapiens platform. This collaboration aims to provide attendees with insights into how top-tier hardware solutions support advanced unified communications environments.
Crexendo, a leading software technology company, has partnered with Symbio, a subsidiary of Aussie Broadband Group, to launch AdvancedPBX, a cloud-based communications solution. This innovative offering is built on Crexendo's NetSapiens platform, which has recently surpassed 5 million global users and is the third largest and fastest-growing software platform in North America.
AdvancedPBX will deliver advanced features including contact center capabilities and AI-driven smart call transcription. The solution can be provisioned through Telcoinabox's systems in just 5 minutes, streamlining deployment and management. This partnership showcases Crexendo's 'telco in a box' vision and empowers international service providers to scale advanced communication services rapidly.
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