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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) announced a quarterly cash dividend of $.005 per share, payable on June 10, 2022, to shareholders on record by May 30, 2022. The company, recognized as the fastest growing UCaaS platform in the U.S., supports over two million end users globally through various sales channels. Crexendo specializes in Unified Communications as a Service (UCaaS) and Call Center as a Service (CCaaS).
Crexendo, Inc. (NASDAQ: CXDO) announces its growth to over 2.5 million end users of its Unified Communications as a Service (UCaaS) platform, marking significant expansion in the telecommunications sector. Recognized as the fastest-growing UCaaS platform in the U.S., the company attributes this success to its robust software solutions and telecom services. CEO Steven G. Mihaylo expressed confidence in future growth and profitability due to this sustained increase in users, which is expected to drive higher revenue and margins for the company.
Crexendo, Inc. (NASDAQ:CXDO) reported a significant 81% year-over-year revenue increase to $8.2 million for Q1 2022, driven by growth in their telecommunications and software services. While service revenue saw a modest 6% increase to $4.4 million, the company reported a GAAP net loss of $1.22 million, up from a loss of $715,000 in Q1 2021. Non-GAAP net income was $405,000, reflecting strong operational performance despite challenges posed by economic uncertainty. Total cash was $5.7 million as of March 31, 2022, signaling ongoing liquidity concerns.
Crexendo, Inc. (NASDAQ:CXDO) is set to announce its Q1 2022 financial results during a conference call on May 12, 2022, at 4:30 PM EST. The call will include remarks from CEO Steven G. Mihaylo, COO Doug Gaylor, and CFO Ron Vincent, followed by a Q&A session. Domestic participants can dial in at 877-545-0523, while international participants can call 973-528-0016, using access code 899595. A replay will be available until May 19, 2022 for those who miss the call.
Crexendo is a leader in Unified Communications as a Service (UCaaS) and currently supports over two million end users worldwide.
Crexendo, Inc. (NASDAQ:CXDO) will present at the 7th Annual Oppenheimer Emerging Growth Conference on May 10, 2022. The conference will connect institutional investors with over 50 emerging technology and industrial companies. Key executives, including Doug Gaylor and Ron Vincent, will discuss Crexendo's impressive 71% revenue growth to $28.1 million in 2021 and a non-GAAP income of $1.7 million. Crexendo offers award-winning UCaaS solutions, supporting over two million users worldwide and recognized as the fastest growing UCaaS platform in North America.
Crexendo, Inc. (NASDAQ:CXDO) will exhibit at the Channel Partners Conference in Las Vegas from April 11-14, 2022. The company, recognized as the fastest growing UCaaS platform in the U.S., aims to showcase its award-winning technology powered by NetSapiens. The VIP platform offers a 100% uptime guarantee and supports over two million end users globally. The event will provide Crexendo an opportunity to engage with partners and highlight its diverse commercial models and high customer satisfaction ratings.
Crexendo, Inc. (NASDAQ:CXDO), a leading provider of Unified Communications as a Service (UCaaS), has been awarded the 2022 TMC Remote Work Pioneer Award. This recognition emphasizes the company's rapid growth and effectiveness in delivering cloud communication solutions, particularly critical during the shift towards remote work.
Supporting over 2 million users globally, Crexendo's solutions cater to businesses of all sizes, enabling seamless communication and collaboration. CEO Steven G. Mihaylo praised the company's commitment to providing reliable tools for a flexible work environment, underscoring the significance of this award.
Crexendo, Inc. (NASDAQ:CXDO) reported robust financial results for Q4 and the full year ending December 31, 2021. Q4 revenue skyrocketed by 108% to $9.0 million, while total revenue for 2021 rose 71% year-over-year to $28.1 million. The company achieved a Q4 non-GAAP net income of $592,000, contrasting with a GAAP net loss of $(602,000). Despite increased operating expenses attributed to acquisitions, Crexendo remains optimistic about future growth, targeting a 40%-50% increase in business. A conference call is scheduled for March 21, 2022, to discuss these results further.
Mavenir and Crexendo have entered a strategic partnership to enhance their offerings in the Unified Communications as a Service (UCaaS) and business messaging markets. This collaboration allows Mavenir to integrate Crexendo’s UCaaS into its Mavenir Connect brand while Crexendo incorporates Mavenir’s Contact Center as a Service (CCaaS) solutions. Both companies aim for accelerated growth, improved service offerings, and enhanced customer engagement. Crexendo, recognized as the Fastest Growing UCaaS Platform in North America, supports over 2 million users.
Crexendo, Inc. (NASDAQ:CXDO) will hold its fourth quarter and year-end 2021 financial results conference call on March 21, 2022, at 4:30 PM EST. Executives, including CEO Steven G. Mihaylo, will present prepared remarks followed by a Q&A session. Domestic callers can dial 877-545-0320, while international participants should use 973-528-0002. A replay of the call will be available until March 28, 2022, with a passcode of 44837. Crexendo is recognized as a leading UCaaS provider, supporting over two million end users globally.
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