Crexendo Growth Surges with Four and a Half Million Users on its Software Platform With Platform Growing At Nearly Twice The Industry Average
- Crexendo's cloud communication platform now supports over 4.5 million end users globally, a significant increase from 1.7 million users in 2021.
- Platform usage has grown over 150% since the acquisition of NetSapiens in June 2021.
- Crexendo's disruptive business model, superior cloud offerings, and talented team are attributed to their strong growth.
- The company received the Competitive Strategy Leadership Award for Excellence in Cloud Communications from Frost & Sullivan.
- Crexendo is recognized as the fastest-growing UCaaS platform in the industry.
- G2.com's Spring 2024 Reports highlighted Crexendo's exceptional customer service with 19 1st place rankings based on real user feedback.
- The company's strong momentum and strategic growth plan instill confidence in future performance.
- None.
Insights
The substantial user growth reported by Crexendo, with user numbers surging from 1.7 to over 4.5 million since the acquisition of NetSapiens, signals a noteworthy expansion in the company's market penetration. Such an increase, representing a growth rate over 150%, positions the company well above the industry average for unified communications as a service (UCaaS), a sector known for its competitiveness and rapid technological advancements.
This growth trajectory suggests a successful integration of NetSapiens and effective leveraging of its technology. For retail investors, this could indicate the potential for increased revenue streams and market share expansion. However, one must consider the scalability of the company's infrastructure to support this burgeoning user base without compromising service quality, which is pivotal in maintaining customer satisfaction and minimizing churn rates in the UCaaS sector.
When dissecting the financial implications of Crexendo's user base expansion, one should scrutinize the upcoming earnings report for signs of corresponding revenue growth and profitability. The company's performance in the third and fourth quarters will provide tangible insights into whether this user growth is translating into financial gains.
Investors should look for enhanced earnings, improved margins and evidence of cost-effective user acquisition. While the CEO's confidence buoys the sentiment, the proof will invariably be in the numbers, particularly how they compare with operational costs and investment in the platform's development. Additionally, the ability to monetize these users effectively will be a key determinant of the company's ability to capitalize on its growth and enhance shareholder value.
Crexendo's growth figures, when juxtaposed with industry reports and accolades such as the Frost & Sullivan award, suggest a strategic edge over competitors within the UCaaS market. Recognition for competitive strategy leadership and customer service excellence may not directly impact financials, but they contribute to brand strength, which can lead to enhanced customer loyalty and potentially, improved market positioning.
For long-term investors, these types of indicators could imply a robust corporate strategy and a solid foundation for sustained growth. However, it's essential to monitor how Crexendo capitalizes on this momentum, especially in a market where technological disruption is the norm. Maintaining this growth rate could prove challenging as competitors strive to innovate and capture market share.
PHOENIX, AZ / ACCESSWIRE / April 16, 2024 / Crexendo, Inc. (NASDAQ:CXDO) ("Crexendo" or the "Company"), an award-winning premier provider of cloud communication platforms and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business, today announced that its cloud communication platform now supports over four and a half million end users* globally.
When Crexendo acquired NetSapiens in June of 2021 there were approximately 1.7 million users on the platform, and since then, platform use has increased over
"We continue to see very strong adoption of our offerings, and we see no end in sight," said Crexendo CEO and Chairman Jeff Korn. "We are very excited by our continued strong growth. This announcement confirms for us the findings by Frost & Sullivan's who in their recent 2024 report awarded us the Competitive Strategy Leadership Award for Excellence in Cloud Communications as well as confirming that we are the fastest growing UCaaS platform in the industry. We believe this growth is tied to our disruptive business model, our superior cloud offerings and our talented team that truly are the best in the industry. The efforts of our team are further supported by G2.com's Spring 2024 Reports that recently highlighted Crexendo's outstanding customer service with 19 1st place rankings based on real user feedback."
Korn added "This very important metric, which follows our very strong third and fourth quarter earnings reports. Our significant momentum continues to give me great confidence in our strategic growth plan this year and beyond. I am convinced that our company is executing well on all fronts, and we are very excited about our future."
*Users are defined as UCaaS application user seats including individual user licenses as well as applications such as conference bridges, call queues, and SIP trunks.
About Crexendo
Crexendo, Inc. is an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business. Our solutions currently support over four and a half million end users globally.
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 Crexendo (i) continuing to see very strong adoption of our offerings with no end in sight; (ii) being very excited by the continued strong growth; (iii) believing this announcement confirms that the results of the Excellence in Cloud Communications award and that the Company is the fastest growing platform in the industry; (iv) believing this growth is tied to the disruptive model and are the best in the industry people; (v) believing this is very important metric and providing confidence of the strategic growth plan this year and beyond and (vi) being convinced that the company is executing well on all fronts and being very excited about the future.
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, 2023, 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 Contact:
Crexendo, Inc.
Doug Gaylor
President and Chief Operating Officer
602-732-7990
dgaylor@crexendo.com
SOURCE: Crexendo, Inc.
View the original press release on accesswire.com
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