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 (NASDAQ:CXDO) announced its acquisition of Allegiant Networks, LLC, aiming to enhance its footprint in Kansas and Missouri. The deal involves $2 million in cash, 2,461,538 shares of common stock, and a $1.1 million buyer's note, structured to ensure alignment of interests. This move is part of Crexendo's M&A strategy to integrate strong companies using its platform. CEO Steven G. Mihaylo expressed confidence in the transaction's accretive nature, expected to bolster growth and customer benefits while maintaining a customer-centric focus.
Crexendo, Inc. (NASDAQ:CXDO) will present at the LD Micro Main Event from October 25-27, 2022, at the Luxe Sunset Boulevard Hotel in Los Angeles. Doug Gaylor, President, and Ron Vincent, CFO, will lead the presentation on October 25 at 2:00 PM in Track 1. The company offers cloud communication solutions and has seen significant investor interest, being recognized as the fastest-growing UCaaS platform in the U.S., serving over 2.5 million users globally.
Crexendo (NASDAQ:CXDO) recently concluded its 12th annual User Group Meeting (UGM) with record attendance exceeding 350 participants from various regions. The event focused on sales and engineering workshops and featured updates to the NetSapiens platform, emphasizing education and growth. Crexendo received multiple awards in 2022, including the prestigious Communications Solutions Product of the Year. CEO Steven Mihaylo highlighted the event's success in showcasing their platform's benefits and ongoing growth potential. Crexendo supports over 2.5 million end users globally and is recognized as the fastest-growing UCaaS platform in the U.S.
Crexendo, Inc. (NASDAQ:CXDO) announced a strategic partnership with Fuse.Cloud, which will replace its Cisco-BroadSoft solution with Crexendo's cloud communication platform. Fuse.Cloud, a leader in VoIP and IT Managed Services, chose Crexendo for its robust, scalable, and feature-rich offering, which supports over 2.5 million users globally. The deal allows Fuse.Cloud to engage with Crexendo on a SaaS model, preserving capital outlay. This partnership further solidifies Crexendo's position as the fastest-growing UCaaS platform in North America, according to Frost & Sullivan.
Crexendo, Inc. (NASDAQ:CXDO) will present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022, in New York City. Doug Gaylor, President, and Ron Vincent, CFO, will lead the presentation on September 14 at 9:30 am ET in the Stanford Room. Crexendo offers Unified Communications as a Service (UCaaS) and Call Center as a Service (CCaaS), supporting over two million users globally. The company is recognized as the fastest-growing UCaaS platform in the U.S. Individual meetings with investors will also be available.
Crexendo (NASDAQ:CXDO) has announced significant achievements in its UCaaS offerings, being recognized with multiple awards including the 2022 Communications Solutions Product of The Year Award and 2022 Pandemic Tech Innovation Award. The company supports over 2.5 million end users globally and is the fastest growing UCaaS platform in the U.S. Crexendo has received 11 awards from G2, highlighting customer satisfaction across various categories. CEO Steven G. Mihaylo emphasized the commitment to customer service and the benefits of their offerings for businesses.
Crexendo, Inc. (NASDAQ:CXDO) announced a quarterly cash dividend of $0.005 per common share on August 9, 2022. This dividend will be paid on September 2, 2022, to stockholders of record as of the close of business on August 23, 2022. Crexendo previously paid the same quarterly dividend on June 10, 2022. Future dividends are subject to Board approval. The company is recognized for its Unified Communications as a Service (UCaaS) platform, supporting over two million end users globally.
Crexendo, Inc. (NASDAQ:CXDO) will host its Q2 2022 financial results conference call on August 9, 2022, at 4:30 PM EST. Executives including CEO Steven G. Mihaylo and CFO Ron Vincent will present and address questions. The call can be accessed domestically at 877-545-0320 and internationally at 973-528-0002, using the access code 716284. A replay will be available until August 16, 2022, via 877-481-4010. Crexendo is a leading provider of UCaaS and CCaaS solutions, supporting over 2.5 million users globally.
Crexendo, Inc. (NASDAQ:CXDO), a leading provider of Unified Communications as a Service (UCaaS), will showcase its award-winning technology at IT EXPO 2022 in Fort Lauderdale from June 21-24, 2022. The company has received numerous accolades, including the Cloud Computing Product of the Year and CRM Excellence Award. Crexendo emphasizes its customer-first approach, supported by positive reviews from G2, highlighting high satisfaction ratings. The company supports over two million end users globally and offers a 100% uptime guarantee for its VIP™ platform.
Crexendo, Inc. (NASDAQ:CXDO) will present at the 12th Annual LD Micro Invitational on June 7th at 2:00 PM PT, held at Four Season Westlake Village. Doug Gaylor, President, and Ron Vincent, CFO, will present and meet with investors on June 7 and 8. Crexendo is recognized as a leading provider of Unified Communications as a Service (UCaaS) and Call Center as a Service (CCaaS), supporting over two million users globally. The presentation can be registered for at this link.
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