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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, 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.
Crexendo, Inc. (NASDAQ:CXDO) will announce its fourth quarter and year-end 2022 financial results during a conference call on March 14, 2023, at 4:30 PM EST. CEO Steven G. Mihaylo, COO Doug Gaylor, and CFO Ron Vincent will present and engage in a Q&A session. Participants can dial in at 888-506-0062 for domestic calls or 973-528-0011 for international calls, using access code 708813. A replay will be available until March 21, 2023, using passcode 47743. Crexendo is recognized as a leading provider of cloud communication services, supporting over three million users globally and noted as the fastest-growing UCaaS platform in the U.S.
Crexendo, Inc. (NASDAQ:CXDO) has announced a significant milestone, surpassing three million end users globally on its cloud communication platform. The CEO, Steven G. Mihaylo, attributes this growth to the successful acquisition of NetSapiens and highlights the synergies gained from this partnership. Crexendo offers a 100% uptime guarantee for its VIP all-in-one cloud communications solution, which includes video collaboration, interactions, and phone communications. The company maintains its status as the fastest growing UCaaS platform provider in the U.S., with plans for ongoing enhancements to meet customer needs.
Crexendo, Inc. (NASDAQ:CXDO) will exhibit at IT EXPO 2023 in Fort Lauderdale from February 14-17. The company aims to connect with partners and showcase its award-winning platform, highlighted by its rapid growth as the fastest growing UCaaS platform in the U.S., serving over 2.5 million users. CEO Steven G. Mihaylo expressed pride in their services and announced the debut of their new Omnichannel CCaaS solution. G2 recently recognized Crexendo as a leader in VoIP services, awarding it for being the 'Easiest to do Business With' and providing 'Best Support'.
Crexendo, Inc. (NASDAQ:CXDO) announced its participation in two upcoming conferences. The first presentation will be virtually at the Planet MicroCap Showcase: VIRTUAL 2022 on December 7, 2022, at 12:00 PM EST. A second in-person appearance will occur at the Singular Research 'Best of the Uncovered Conference' in San Francisco on December 8, 2022, where Crexendo will present at 10:45 AM PST. Both events will feature Doug Gaylor and Ron Vincent, who will also hold one-on-one meetings with attendees.
Crexendo, Inc. (NASDAQ:CXDO) reported its third-quarter financial results for 2022, showing a 3% year-over-year revenue increase to $9.1 million. Despite a GAAP net loss of $(696,000) or $(0.03) per share, the company achieved a non-GAAP net income of $713,000 or $0.03 per share. Revenues for the nine months ending September 30, 2022, increased 37% to $26.1 million. The acquisition of Allegiant Networks is expected to enhance growth and service offerings. Total cash at quarter's end was $4.8 million, down from $7.5 million at the end of 2021.
Crexendo, Inc. (NASDAQ:CXDO) will announce its third quarter 2022 financial results on November 10, 2022, at 4:30 PM EST. CEO Steven G. Mihaylo, President Doug Gaylor, and CFO Ron Vincent will present and lead a Q&A session. Participants can join using the domestic dial-in number 844-369-8770 or international 862-298-0840, with a replay available until November 17, 2022.
Crexendo is recognized for its rapid growth in the UCaaS sector, supporting over 2.5 million end users globally.
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