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 software technology company that provides cloud communication platform software and unified communications as a service (UCaaS), with offerings that include voice, video, contact center, and managed IT services. This news page aggregates company-issued updates and other coverage related to Crexendo’s cloud communications platform, AI capabilities, and business performance.
Readers can expect news about product and platform developments, such as the launch of CAIRO, Crexendo's AI Receptionist and Orchestrator, which the company describes as an intelligent, always-on AI phone agent integrated into its cloud communications platform. Coverage also includes announcements about AI-enhanced features, analytics, and integrations that expand what service providers and business customers can do with the platform.
Crexendo regularly releases financial results and management commentary, including quarterly earnings information that details revenue by service, software solutions, and product categories, along with net income, EBITDA metrics, and cash flow data. These updates provide insight into how the company’s cloud telecommunications and software solutions segments are performing.
In addition, this page captures partnership and ecosystem news, such as strategic cooperations with Gamma Communications, carrier relationships with NUSO, integration partnerships with Dubber for compliant recording and AI insights, and sponsorships and collaborations with SNOM and other ecosystem participants. Updates about the NetSapiens Platform User Group Meeting (UGM), record participation levels, and recognition in third-party reports like G2’s rankings for VoIP, UCaaS, and contact center categories are also reflected here.
Investors and industry observers can use this news feed to follow how Crexendo describes the evolution of its AI-enhanced cloud communications platform, its global user base, and its relationships with service providers and technology partners.
Crexendo, Inc. (NASDAQ:CXDO) reported a 15% increase in Q3 2020 revenue to $4.1 million, with a GAAP net income of $131,000 or $0.01 per share. UCaaS service revenue rose 14% to $3.5 million, while web services revenue fell 19%. Total operating expenses increased by 22% to $4.0 million. Year-to-date total revenue grew 13% to $12.1 million, yet net income decreased to $779,000 compared to $911,000 in the previous year. Crexendo's recent uplisting to Nasdaq and successful public offering position it for future growth despite pandemic-related challenges.
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Crexendo, Inc. (NASDAQ:CXDO) plans to announce its third quarter 2020 financial results during a conference call on November 10, 2020, at 4:30 PM EST. CEO Steven G. Mihaylo, COO Doug Gaylor, and CFO Ron Vincent will present and take questions following their remarks. Domestic participants can join by calling 844-369-8770, while international callers should dial 862-298-0840. A replay will be accessible until February 10, 2021. Crexendo is recognized as a leading provider of cloud communications and business services.
Crexendo, Inc. (NASDAQ:CXDO) will present at the Zooming with LD event on October 12, 2020, at 11:00 AM ET. Doug Gaylor, President and COO, along with CFO Ron Vincent, will lead the presentation and answer investor questions. Interested investors can register for the virtual presentation here. Crexendo specializes in providing cloud communications and business services designed for companies of any size. The company is recognized for its affordable UCaaS and collaboration services.
Crexendo, Inc. (NASDAQ:CXDO) announced its participation in the 2020 Lytham Partners Virtual Investor Growth Conference, scheduled for October 8, 2020, at 3:00 PM Eastern. Doug Gaylor, President and COO, along with Ron Vincent, CFO, will hold one-on-one meetings with investors on October 6 and 7. This virtual conference will allow Crexendo to showcase its cloud communications and UCaaS services, aimed at businesses of all sizes. Investors can arrange meetings by contacting Lytham Partners.
Crexendo (NASDAQ:CXDO) announced a registered underwritten public offering of 2,800,000 shares of common stock priced at $5.50 per share, aiming for gross proceeds of approximately $9.6 million. The offering includes 1,050,000 shares sold by stockholders, with an option for underwriters to purchase up to 420,000 additional shares. Proceeds will fund general corporate purposes such as working capital and product development. Closing is expected by September 28, 2020.
Crexendo, Inc. (NASDAQ:CXDO) announced a public offering of 3,500,000 shares of common stock, with 1,750,000 shares offered by the company and 1,750,000 shares by existing stockholders. The offering includes a 30-day option for underwriters to purchase an additional 525,000 shares. Net proceeds will support working capital, sales, marketing, product development, and other general corporate purposes. B. Riley Securities and Colliers Securities are joint book-running managers for this offering, which is pending SEC effectiveness.
Crexendo, Inc. (NASDAQ:CXDO) reported strong financial results for Q2 2020 with total revenue increasing 12% year-over-year to $4.1 million. UCaaS service revenue rose 16% to $3.5 million. GAAP net income reached $508,000, a 50% increase, while non-GAAP income was $660,000, up 48%. Operating expenses grew 8% to $3.5 million. Cash and equivalents increased to $5.1 million. Executives acknowledged the challenges posed by COVID-19 but expressed optimism regarding future growth and potential acquisitions. The company continues to adapt services to meet emerging market demands.
Crexendo (NASDAQ:CXDO) reported strong financial results for Q2 2020, showing a 12% increase in consolidated total revenue to $4.1 million compared to Q2 2019. UCaaS service revenue surged 16% to $3.5 million. GAAP net income rose 50% year-over-year to $508,000, while non-GAAP net income improved by 48% to $660,000. However, product revenue decreased by 4%, and web services revenue fell by 18% in the same period. Operating expenses increased by 8%. The company's cash position has strengthened, totaling $5.1 million at the end of Q2.