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 announced a partnership with Jenne Cloud Services Brokerage to enhance its VIP Business Communications Platform. This all-in-one cloud solution supports video collaboration, business phone communications, and advanced customer experience capabilities, catering to businesses of all sizes. The VIP platform has been recognized with the TMC 2022 Communications Solutions Products of the Year Award and boasts a 100% uptime guarantee, ensuring reliable service. With over three million end users globally, Crexendo is positioned as a leading UCaaS provider, ranking #1 for VoIP Providers on G2.com with a customer satisfaction rating of 4.9 out of 5. This collaboration aims to leverage Jenne's extensive distribution capabilities to promote Crexendo's award-winning solutions.
Crexendo, Inc. (NASDAQ:CXDO) will present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 11:30 AM PST. The presentation will be hosted by Doug Gaylor, President and COO, and CFO Ron Vincent. Investors can access the live webcast here.
1x1 investor meetings can be booked at the conference in Las Vegas. Interested participants can register for Planet MicroCap Showcase here. Crexendo provides cloud communication, video collaboration, and managed IT services, supporting over three million users globally.
Crexendo, Inc. (NASDAQ:CXDO) declared a quarterly cash dividend of $0.005 per common share on March 14, 2023, scheduled for payment on April 11, 2023. Stockholders on record by March 31, 2023, will receive this dividend. The previous dividend was also $0.005 per share, paid on December 8, 2022. Future dividends are contingent upon Board approval. Crexendo is recognized for its cloud communication platform and services, supporting over three million end users globally.
Crexendo, Inc. (NASDAQ:CXDO) has appointed Gateway Investor Relations to enhance its investor relations program. This strategic partnership aims to refine the company's messaging and outreach, facilitating introductions to institutional investors and sell-side analysts. CEO Jeff Korn emphasized the firm’s strong operational and financial position entering 2023, with expectations of organic revenue growth and improved cash flow. The company plans to invest further in its communications efforts, aiming to broaden its audience and strengthen its market presence, reflecting confidence in its compelling investment narrative.
Crexendo, Inc. (NASDAQ:CXDO) reported financial results for Q4 and full year 2022, showing a 34% revenue increase YoY, totaling $37.6 million. Despite strong top-line growth, the company faced a GAAP net loss of $(35.4) million for the year. In Q4, revenue grew 27% to $11.4 million. Non-GAAP net income for Q4 was $2.5 million, up from $592,000 in Q4 2021. The increase in revenue was significantly influenced by the Allegiant Networks acquisition, which contributed $1.8 million in Q4. However, operating expenses surged 370% to $46 million, largely due to goodwill impairment.
Crexendo, Inc. (NASDAQ:CXDO) has appointed Jeffrey G. Korn as its new Chief Executive Officer, following the retirement of former CEO Steven G. Mihaylo, who will continue as Executive Chairman. Korn, the company's longest-serving employee with over 20 years of experience, has played a vital role in its growth and success in the telecommunications sector. His appointment aligns with the firm's long-term management transition strategy. Korn expressed commitment to driving sustained revenue growth and profitability. The leadership transition is expected to ensure continuity and leverage Korn's strong legal background and deep industry knowledge.
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