Welcome to our dedicated page for Crexendo news (Ticker: CXDO), a resource for investors and traders seeking the latest updates and insights on Crexendo stock.
About Crexendo Inc.
Crexendo Inc. (NASDAQ: CXDO) is a premier software technology company specializing in cloud communication platforms and Unified Communications as a Service (UCaaS). The company provides a comprehensive suite of services, including voice, video, contact center, and managed IT solutions, tailored to businesses of all sizes. Crexendo’s solutions are designed to enhance productivity, streamline communications, and reduce costs, making it a trusted partner for enterprises seeking scalable and customizable communication tools.
Core Business Segments
Crexendo operates through two primary business segments:
- Cloud Telecommunications: This segment offers hardware, software, and unified communication solutions leveraging IP and cloud technology. It provides subscription-based services that include free call center capabilities, detailed reporting, and unified communications tools.
- Software Solutions: Through its proprietary NetSapiens platform, Crexendo licenses advanced communication software to over 230 partners globally. This segment generates revenue through software licenses, maintenance support, and professional services, offering robust APIs and AI-driven features to enhance user experience.
Competitive Differentiators
Crexendo distinguishes itself in the competitive UCaaS and SaaS markets through:
- NetSapiens Platform: A highly scalable and feature-rich communication platform supporting over five million global users. The platform offers unmatched flexibility, enabling partners to deploy solutions in minutes.
- AI-Driven Innovations: Recent updates, such as the AI-powered Video Studio and Speech-to-Text Transcription, demonstrate Crexendo’s commitment to integrating cutting-edge technology into its offerings.
- Cost Efficiency: Crexendo’s solutions are typically 20-60% more affordable than traditional telecom services, delivering significant cost savings to clients.
- Global Reach: With data centers in the US, UK, Netherlands, and Australia, Crexendo ensures low latency and high reliability for customers worldwide.
- Security and Compliance: Crexendo adheres to the highest security standards, including PCI compliance, ensuring robust data protection for its clients.
Industry Significance
Crexendo is a recognized leader in the UCaaS industry, with Frost & Sullivan naming its NetSapiens platform the fastest-growing UCaaS platform in North America. The company’s strategic partnerships, such as its collaboration with Oracle Cloud Infrastructure, further enhance its competitive edge by improving performance and reliability. Crexendo’s solutions empower businesses to transition from legacy systems to modern, cloud-based communication platforms, driving digital transformation across industries.
Commitment to Innovation
Crexendo’s focus on research and development is evident in its continuous platform enhancements. The introduction of AI-driven features, such as sentiment analysis and automated meeting transcriptions, positions the company as a forward-thinking provider in the evolving communications landscape. Its open API ecosystem enables partners to develop custom applications, fostering innovation and expanding use cases.
Customer-Centric Approach
Crexendo prioritizes customer satisfaction through its reliable, scalable, and customizable solutions. Its managed IT services and robust support infrastructure ensure seamless integration and operation, making it a preferred choice for businesses seeking comprehensive communication solutions.
Conclusion
Crexendo Inc. is a transformative force in the cloud communications industry, offering innovative, cost-effective, and scalable solutions that cater to the diverse needs of its global customer base. With its focus on AI, security, and customer experience, Crexendo is well-positioned to continue driving growth and innovation in the UCaaS and SaaS markets.
Crexendo, Inc. (NASDAQ:CXDO) has been recognized as a Hall of Fame presenter at the LD Micro Invitational scheduled for June 8, 2021, at 4:00 PM Eastern. Doug Gaylor, President and COO, along with CFO Ron Vincent, will represent the company. This accolade highlights Crexendo's substantial returns and societal contributions, as noted by LD Micro's Founder, Chris Lahiji. Crexendo specializes in cloud communications, offering UCaaS, call center, and collaboration services designed for businesses of any size at competitive rates.
Crexendo, Inc. (NASDAQ:CXDO) has successfully completed its merger with NetSapiens, Inc., a transaction valued at approximately $50 million, including $10 million in cash and $40 million in stock. Supported by over 99% of Crexendo shareholders, the merger is expected to enhance the combined company's growth trajectory, with pro forma revenue of $27.8 million for 2020. Leaders from both companies express confidence in this partnership, anticipating improved offerings and increased shareholder value.
Crexendo, a cloud communications provider, reported a 17% year-over-year revenue increase to $4.5 million for Q1 2021. Service revenue rose 19% to $4.1 million, though GAAP net loss reached $(715,000). Non-GAAP net income was $308,000, consistent with previous year. Operating expenses surged 45% to $5.3 million, driven by acquisition-related costs. Despite a decline in product revenue and web services, CEO Steven Mihaylo expressed optimism about the upcoming merger with NetSapiens, which is expected to enhance service offerings and drive growth.
Crexendo, Inc. (NASDAQ:CXDO) will announce its first quarter 2021 financial results in a conference call on May 11, 2021, at 4:30 PM EST. CEO Steven G. Mihaylo, COO Doug Gaylor, and CFO Ron Vincent will present and answer questions. Domestic participants can dial 888-506-0062, while international callers should use 973-528-0011. A replay will be available until May 18, 2021.
Crexendo specializes in cloud communications and UCaaS services for businesses.
Crexendo, a leading provider of cloud communications, reported a 16% increase in total revenue to $4.3 million for Q4 2020 compared to the previous year. The company achieved a GAAP net income of $7.2 million and a non-GAAP net income of $7.4 million. Full-year revenue rose 14% to $16.4 million, driven largely by a 16% growth in UCaaS service revenue. The company benefited from a $6 million income tax adjustment and $1 million PPP loan forgiveness. Operating expenses increased by 16% to $15.4 million, while cash balances significantly improved to $17.7 million.
Crexendo, Inc. (NASDAQ:CXDO) announced its definitive agreement to acquire NetSapiens, Inc. for approximately $50 million, comprising $10 million in cash and $40 million in stock. This merger will support over 1.7 million users and enhance Crexendo's UCaaS offerings. The transaction, expected to close in early summer 2021, awaits shareholder approval. CEO Steven G. Mihaylo emphasized the acquisition as a pivotal growth step, enhancing both companies' capabilities and shareholder value. The financial advisory for this deal is provided by Colliers Securities LLC.
Crexendo, Inc. (NASDAQ:CXDO) will announce its fourth quarter and year-end 2020 financial results on March 9, 2021, at 4:30 PM EST. The event will feature CEO Steven G. Mihaylo, COO Doug Gaylor, and CFO Ron Vincent, who will present remarks and answer questions. Participants can join via dial-in or audio webcast. Replay options will be available until March 16, 2021. Crexendo provides cloud communications and UCaaS solutions, aimed at offering affordable, enterprise-class services to businesses of all sizes.
Crexendo, Inc. (NASDAQ:CXDO) will present at the 13th Annual LD Micro Main Event Conference on December 14 at 3:00 PM EST. The presentation will be led by Doug Gaylor, President, and Ron Vincent, CFO, who will discuss Crexendo’s cloud communications and collaboration services. Investors can register at this link. This year's event will feature a new format with 10-minute presentations followed by 10 minutes of Q&A. Crexendo aims to deliver enterprise-class services at affordable rates, enhancing investor engagement.
Crexendo, Inc. (NASDAQ:CXDO) has appointed Jon Brinton as Chief Revenue Officer to enhance revenue operations, including direct and channel sales. CEO Steven G. Mihaylo emphasized Brinton's exceptional track record in driving revenue and operations. Brinton joins from Avaya, where he was Vice President of Channel Sales, and has previously held senior executive roles at Mitel. His leadership is expected to grow Crexendo's sales team and customer base significantly, aligning with the company's focus on cloud communications during the 'Work from Anywhere' trend.
Crexendo, Inc. (NASDAQ:CXDO) reported a 15% increase in Q3 2020 revenue to $4.1 million, with a GAAP net income of $131,000 or $0.01 per share. UCaaS service revenue rose 14% to $3.5 million, while web services revenue fell 19%. Total operating expenses increased by 22% to $4.0 million. Year-to-date total revenue grew 13% to $12.1 million, yet net income decreased to $779,000 compared to $911,000 in the previous year. Crexendo's recent uplisting to Nasdaq and successful public offering position it for future growth despite pandemic-related challenges.
FAQ
What is the current stock price of Crexendo (CXDO)?
What is the market cap of Crexendo (CXDO)?
What does Crexendo Inc. specialize in?
What is the NetSapiens platform?
How does Crexendo generate revenue?
What industries does Crexendo serve?
What are Crexendo’s competitive advantages?
Is Crexendo PCI compliant?
Where does Crexendo operate?
How does Crexendo integrate AI into its solutions?
What is Crexendo’s approach to customer support?
What makes Crexendo’s solutions cost-effective?
