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 has been awarded the 2024 INTERNET TELEPHONY Product of the Year Award by TMC, marking the fourth consecutive year they've received this honor. The award recognizes their NetSapiens software platform, which supports over 4.5 million users, almost double the industry average. CEO Jeff Korn attributes this success to their innovative approach and significant user growth. Additionally, Frost & Sullivan has named Crexendo the fastest-growing platform in the industry. This accolade underlines Crexendo's leadership in the SaaS and cloud communications sectors.
Crexendo, Inc. (NASDAQ:CXDO) reported strong financial results for the first quarter of 2024 with a 14% year-over-year increase in total revenue to $14.3 million. The company achieved GAAP net income of $434,000 and non-GAAP net income of $1.9 million. Operating expenses decreased by 2% while EBITDA and Adjusted EBITDA showed significant improvement. Cash and cash equivalents rose to $11.0 million. The company remains focused on driving organic growth and pursuing strategic opportunities for expansion.
Crexendo, Inc. (NASDAQ:CXDO) has partnered with Oracle Cloud Infrastructure (OCI) to provide cloud communication platforms and services globally. This collaboration marks a significant milestone in Crexendo's growth and expansion, offering unparalleled flexibility to partners and ensuring a secure and reliable platform for users. With over 4.5 million users on Crexendo's NetSapiens platform, the move to OCI solidifies Crexendo's position as a trusted industry leader, redefining the future of cloud communication solutions.
Crexendo, Inc. (NASDAQ:CXDO) will present at the 19th Annual Needham Technology, Media & Consumer Conference on May 14, 2024. The company offers cloud communication platforms, video collaboration, and managed IT services. Executives will host presentations and meetings with investors.
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?
