Crexendo, Inc. Files Q3 2024 10-Q with Revenue Details

TL;DR

Crexendo's Q3 2024 10-Q is out, showing revenue figures for software and telecom services.

AI Summary

Crexendo, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenues for the third quarter of 2024 and the nine months ended September 30, 2024. Specific financial details regarding revenue breakdown by segment (Software Solution and Cloud Telecommunications Service) and geography (United States and International) are provided within the filing.

Why It Matters

This filing provides investors with the latest financial performance data for Crexendo, Inc., crucial for understanding the company's revenue trends and operational health in its key business segments.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• Q3 2024 — Reporting Period (Third quarter financial results)
• Nine months ended September 30, 2024 — Year-to-Date Period (Cumulative financial results)

Key Players & Entities

• Crexendo, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241106 (date) — Filing date

FAQ

Filing Documents

• cxdo_10q.htm (10-Q) — 1712KB
• cxdo_ex311.htm (EX-31.1) — 9KB
• cxdo_ex312.htm (EX-31.2) — 9KB
• cxdo_ex321.htm (EX-32.1) — 3KB
• cxdo_ex322.htm (EX-32.2) — 3KB
• cxdo_10qimg89.jpg (GRAPHIC) — 7KB
• 0001654954-24-013839.txt ( ) — 7865KB
• cxdo-20240930.xsd (EX-101.SCH) — 76KB
• cxdo-20240930_lab.xml (EX-101.LAB) — 395KB
• cxdo-20240930_cal.xml (EX-101.CAL) — 66KB
• cxdo-20240930_pre.xml (EX-101.PRE) — 333KB
• cxdo-20240930_def.xml (EX-101.DEF) — 148KB
• cxdo_10q_htm.xml (XML) — 1511KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements. 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 6. Exhibits 49

Signatures

Signatures 50 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements. Crexendo, Inc. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited, in thousands, except par value and share data) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 15,451 $ 10,347 Trade receivables, net of allowance of $ 72 and $ 116 , respectively 3,753 3,476 Inventories 518 382 Equipment financing receivables, net of allowance of $ 66 and $ 56 , respectively 981 856 Contract costs 1,746 1,345 Prepaid expenses 1,327 508 Income tax receivable 53 - Other current assets 35 35 Total current assets 23,864 16,949 Contract assets, net of allowance of $ 111 and $ 85 , respectively 362 342 Long-term equipment financing receivables, net of allowance of $ 149 and $ 115 , respectively 2,228 1,768 Property and equipment, net 438 670 Operating lease right-of-use assets 1,676 1,009 Intangible assets, net 21,283 23,556 Goodwill 9,454 9,454 Contract costs, net of current portion 2,739 2,273 Other long-term assets 208 139 Total Assets $ 62,252 $ 56,160 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 746 $ 769 Accrued expenses 6,669 5,951 Finance leases 39 75 Notes payable 473 457 Operating lease liabilities 555 566 Income tax payable - 53 Contract liabilities 2,668 2,390 Total current liabilities 11,150 10,261 Contract liabilities, net of current portion 255 198 Finance leases, net of current portion 3 23 Notes payable, net of current portion 236 592 Operating lease liabilities, net of current portion 1,139 473 Total liabilities 12,783 11,547 Stockholders' equity: Preferred stock, par value $ 0.001 per share - authorized 5,000,000 shares; none issued — — Common stock, par value $ 0.001 per share - authorized 50,000,000 shares, 27,031,433 shares issued and outstanding as of

View Full Filing

View this 10-Q filing on SEC EDGAR