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.
Overview of Crexendo Inc
Crexendo Inc (CXDO) is a comprehensive cloud communications and unified communications as a service (UCaaS) provider dedicated to delivering secure, cost-effective telecom solutions worldwide. Specializing in cloud telecommunications and innovative software solutions, the company empowers small to mid-sized enterprises through state-of-the-art cloud telephone systems, advanced call center functionalities, comprehensive reporting and unified communication tools. Leveraging industry-leading security and reliability standards, Crexendo ensures that every facet of its service, from data center redundancy to PCI compliance and regulatory adherence as a CLEC in North America, meets the highest quality benchmarks.
Core Business Areas and Unique Value Proposition
At its core, Crexendo operates through two major segments:
- Cloud Telecommunications: This segment provides a full spectrum of communication hardware, software and unified communication services that enable businesses to utilize IP or cloud technologies over high-speed internet. Designed to replace traditional TDM systems, these offerings deliver significant cost savings—typically between 20% and 60%—and improved operational efficiency.
- Software Solutions: This area focuses on licensing, maintenance support, and professional services including advanced UCaaS features. With a subscription model that guarantees dynamic support and continuous innovation, the software division reinforces the company’s commitment to scalable, reliable and transformative communication solutions.
As a company deeply rooted in innovation, Crexendo emphasizes robust security practices. From a world-class data center with multiple redundancy layers to partnerships with top technology providers like Oracle Cloud Infrastructure, the company showcases its commitment to a secure, global framework that underpins its cloud services.
Industry Leadership and Technological Innovation
Crexendo’s solutions integrate advanced features such as AI-powered analytics and smart call transcription, enabling service providers and end users to quickly adapt to the evolving digital landscape. The company has been recognized for its NetSapiens platform, which supports millions of global end users through an extensive network of partners. Its agile, flexible offerings not only simplify communications for businesses but also drive substantial improvements in productivity and overall cost-efficiency. The platform's design incorporates innovative APIs and AI functionalities to ensure a dynamic meeting of technological needs and market demands.
Competitive Position and Market Relevance
In an industry where legacy telecom infrastructures are being rapidly replaced by cloud-based solutions, Crexendo stands apart by focusing on reliability, security and robust customer support. The company’s competitive advantages include:
- Cost Efficiency: Businesses benefit from significantly reduced telecom expenses without sacrificing performance or security.
- Scalability: Whether deployed as a fully hosted service or integrated into a partner’s private cloud, Crexendo’s solutions are designed to scale seamlessly with growing business demands.
- Innovation and Flexibility: With a focus on continuous improvement and integration of AI-powered tools, Crexendo remains agile in an industry characterized by rapid technological shifts.
The company’s neutral yet thorough approach to technology and performance positions it as an informative resource for investors seeking clarity on the cloud communications sector. Crexendo’s unwavering commitment to security and operational excellence—illustrated by its PCI compliance and multiple data redundancies—affirms its authority and trustworthiness in the competitive landscape of UCaaS providers.
Key Offerings and Operational Excellence
Crexendo offers a diversified portfolio which includes:
- Advanced cloud telephone systems
- Unified communications solutions that integrate voice, video and collaboration tools
- Highly secure call center and reporting capabilities
- Scalable software platforms capable of supporting millions of global end users
Every solution is engineered to deliver enhanced productivity and significant cost savings while meeting the demanding security standards of modern businesses. The company’s integration with high-performance cloud infrastructures further solidifies its market significance, ensuring that its clients experience optimal performance and reliability at all times.
Conclusion
In summary, Crexendo Inc is not merely a telecom services provider—it is a technology partner committed to transforming business communications. By blending innovative software solutions with robust cloud telecommunications services, Crexendo empowers businesses to streamline operations, reduce costs and stay ahead in a dynamic digital environment. Its focus on security, scalability and technological innovation delivers a compelling narrative that stands as a benchmark for excellence in the cloud communications industry.
Crexendo (NASDAQ:CXDO) has been awarded the Unified Communications Excellence Award from TMC for the fourth time, recognizing their NetSapiens Platform's excellence in the UCaaS industry. This achievement follows a successful 2024, where the company also received the Generative AI Expo Product of the Year Award and was listed among North America's fastest-growing companies on the 2024 Deloitte Technology Fast 500.
The NetSapiens Platform has emerged as a preferred solution for service providers, particularly those facing challenges like the Metaswitch MaX UC end-of-life transition. The platform has achieved significant growth, becoming North America's fastest-growing Unified Communications platform with over five million users globally. Service providers using the platform are growing at twice the industry average.
CEO Jeff Korn highlighted this recognition as evidence of the team's dedication and their partners' trust. TMC CEO Rich Tehrani praised Crexendo's commitment to addressing marketplace needs. The company has now earned twenty-seven industry awards, demonstrating its continued leadership in cloud communication platform software and UCaaS solutions.
Crexendo (NASDAQ:CXDO) has announced the release of v44.2 of its NetSapiens Platform, introducing significant AI-driven features for business communications. The update includes the new NetSapiens Video AI Studio, offering service providers a customizable video conferencing solution with branding capabilities, live streaming to YouTube, and interactive tools.
Key features include an AI companion providing automated meeting recordings, transcriptions, sentiment analysis, and smart search capabilities. The release also introduces an advanced AI-powered Speech-to-Text Transcription system, which the company claims offers superior accuracy compared to competitors.
According to CEO Jeff Korn, this release represents a significant advancement in AI-driven communication solutions, aiming to empower businesses with personalized and intelligent communication tools.
Crexendo (NASDAQ:CXDO) has achieved top rankings in G2's Winter 2025 Reports for VoIP, UCaaS, and Customer Communications Management. The company maintained its #1 position for Ease of Use for the eighth consecutive quarter, along with leading rankings in Native VoIP, CCaaS Option, and voicemail features. Crexendo's platform has sustained a 4.9/5-star rating for 11 consecutive quarters.
The company was recognized as a top trending provider in G2's Winter 2025 Momentum Grid Reports, highlighting its innovation and growth. CEO Jeff Korn emphasized upcoming platform advancements, including Generative AI integration. Crexendo currently serves over 5 million end users globally and is recognized as the fastest-growing platform in the U.S.
According to G2's Chief Product Officer Sara Rossio, only about 10% of vendors appear in G2's quarterly Market Reports, making Crexendo's recognition particularly significant in the B2B software marketplace.
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.
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