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.
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's AI-powered cloud communications platform has been recognized for outstanding usability and superior customer satisfaction in G2's Fall 2024 Reports. The platform ranked #1 for Ease of Use for the seventh consecutive quarter, with top rankings in various product features. Crexendo retained the Best Relationships award and was honored as a top trending provider in G2's Momentum Grid Reports.
The company maintained its 4.9 out of 5-Stars rating for ten consecutive quarters. Jeff Korn, Crexendo CEO, emphasized the company's focus on innovation, platform usability, and customer experience. He highlighted new innovations like Generative AI in Crexendo's VIP CX cloud contact center platform and VIP Voice AI Studio offering. Crexendo serves over 5 million end users globally and is recognized as the fastest-growing platform in the U.S.
Crexendo (NASDAQ:CXDO) announced record-breaking participation for its upcoming NetSapiens Platform User Group Meeting (UGM) in Nashville, TN from October 21-24. The event has sold out all sponsorships and attracted the highest number of sponsors, partners, and attendees in its history. This milestone follows Crexendo's NetSapiens platform surpassing five million end users, highlighting its expanding global reach.
The UGM will bring together top service providers, partners, and vendors to showcase the latest applications and innovations, many driven by AI. It will offer exclusive sessions, partner showcases, and insights from industry veterans. Jeff Korn, CEO and Chairman of Crexendo, emphasized the event's significance in demonstrating the strength of Crexendo's NetSapiens community and the demand for their innovative solutions.
Crexendo's NetSapiens platform has been recognized by Frost & Sullivan as the fastest growing UCaaS platform in North America. The platform provides service providers with scalability and flexibility without charging per-seat fees, enabling growth at twice the industry average.
Crexendo (NASDAQ:CXDO) has expanded its global reach by opening new data centers in Sydney and Melbourne, Australia. This expansion supports Crexendo's NetSapiens Platform Partners in the region and builds on the company's recent partnership with Oracle Cloud Infrastructure (OCI) announced in May 2024. The new data centers join existing facilities in the US, UK, and the Netherlands, enhancing Crexendo's ability to deliver high-performance cloud communication solutions worldwide.
The strategic move aims to provide localized hosting for improved access and reduced latency in the Asia-Pacific region. CEO Jeff Korn emphasized the company's commitment to offering best-in-class services with enhanced performance and reliability. SVP of International Markets Scott Goodwin highlighted the significance of this expansion in meeting growing regional demand and supporting Crexendo's global strategy.
Crexendo, a leading provider of cloud communication platform software and UCaaS solutions, has announced its participation in several upcoming investor conferences. The company plans to discuss its recent achievements, including:
- Reaching 5 million users
- Maintaining a streak of GAAP profitable quarters
- Offering top-rated customer service
- Developing award-winning disruptive technology
The conferences Crexendo will attend include the H.C. Wainwright Global Investment Conference, Lake Street BIG8 Conference, LD Micro Main Event, Craig-Hallum Alpha Select Conference, and Needham Virtual Infrastructure Conference. These events span from September to November 2024, providing multiple opportunities for investors to engage with Crexendo representatives.
Crexendo (Nasdaq:CXDO), a leading software technology company, has surpassed 5 million global users for its cloud communication platform. According to Frost & Sullivan, Crexendo's platform is now the third largest and fastest-growing software platform in North America, growing at nearly twice the rate of its two largest competitors. The company licenses its software to over 230 Partners and supports more than 400 applications through its API capabilities, including AI-powered solutions.
CEO Jeff Korn emphasized Crexendo's commitment to providing cutting-edge technology and exceptional service in UCaaS, CCaaS, and SaaS offerings. The company has doubled its end-user base in just over two years and expects this rapid growth to continue. Crexendo aims to empower businesses with advanced, scalable, and flexible communication solutions to drive productivity and growth in the evolving digital landscape.
Crexendo (NASDAQ: CXDO), a leading cloud communication provider, has achieved a significant milestone by doubling BCN's IP voice platform capacity.
This enhancement caters to the growing demand for BCN's cloud voice solutions, powered by Crexendo's award-winning NetSapiens platform.
BCN's expanded portfolio includes UCaaS, SIP trunking, and POTS Replacement solutions. Since their partnership began in 2020, Crexendo has supported BCN in transitioning from TDM to advanced IP-based services.
Julian Jacquez, BCN's President, praised Crexendo's customer-focused approach and reliability, while Crexendo's CEO, Jeff Korn, highlighted the transformative impact of this capacity boost on meeting market demands.
For more details, visit www.crexendo.com.
Crexendo (NASDAQ:CXDO) reported strong Q2 2024 results, with revenue up 16% year-over-year to $14.7 million. The company saw significant improvements across key financial metrics:
- Net income of $0.6 million, up 220% YoY
- Non-GAAP net income of $2.1 million, up 91% YoY
- EPS of $0.02 per share, up 200% YoY
- Non-GAAP EPS of $0.08 (basic) and $0.07 (diluted), up 100% and 75% YoY respectively
Software solutions revenue grew 35% to $5.3 million, while service revenue increased 10% to $8.1 million. The company's cash position strengthened to $13.6 million, up from $10.3 million at the end of 2023.
Crexendo's NetSapiens Platform has been named a finalist in the Best Industry Enabler category at the 2024 Comms Council UK Awards. This recognition highlights Crexendo's commitment to innovation and excellence in the global telecommunications industry. The Comms Council UK Awards celebrate outstanding achievements in communications, and being nominated underscores the global impact and industry leadership of Crexendo's platform.
Scott Goodwin, SVP of International Markets at Crexendo, emphasized the platform's ability to revolutionize service delivery for providers worldwide. CEO Jeff Korn noted that this nomination signifies Crexendo's substantial international growth and expects further acceleration. The NetSapiens Platform offers a comprehensive suite of unified communications solutions, focusing on flexibility, customization, and seamless integration for service providers in various markets.
Crexendo (NASDAQ:CXDO) has announced its second quarter 2024 financial results conference call, scheduled for August 6, 2024, at 4:30 PM ET. Key executives, including CEO Jeff Korn, President and COO Doug Gaylor, and CFO Ron Vincent, will present prepared remarks and conduct a Q&A session.
Participants can join the call using the following dial-in numbers:
- Domestic: 888-506-0062
- International: 973-528-0011
- Access code: 595520
A replay will be available until August 13, 2024, accessible via 877-481-4010 (domestic) or 919-882-2331 (international) with passcode 50906.
On July 10, 2024, Crexendo (NASDAQ: CXDO) announced its recognition for outstanding platform usability and exceptional customer satisfaction in G2's Summer 2024 Reports. This marks the sixth consecutive quarter Crexendo has topped multiple satisfaction categories, including Ease of Setup, Ease of Use, and Ease of Administration. The company achieved #1 ratings for product features like Video Conferencing, File Sharing, and Voicemail to SMS. Crexendo also retained the Best Relationships award and maintained a 4.9 out of 5-star rating for nine quarters. CEO Jeff Korn highlighted ongoing innovations and customer service improvements, including appointing a new Senior VP of Support and Customer Success.
FAQ
What is the current stock price of CREXENDO (CXDO)?
What is the market cap of CREXENDO (CXDO)?
What services does Crexendo Inc. provide?
How does Crexendo ensure the reliability and security of its services?
What recent achievements has Crexendo accomplished?
What are Crexendo's financial highlights?
How many end users does Crexendo's platform currently support?
What are Crexendo's core business segments?
How does Crexendo help reduce telecom expenses for businesses?
What recognition has Crexendo received from G2?
What is the significance of Crexendo's partnership with Oracle Cloud Infrastructure?
Where can I find more information about Crexendo's products and services?
