Crexendo Inc Stock Price, News & Analysis

Crexendo, Inc. (NASDAQ:CXDO) has announced a partnership with Jenne Cloud Services Brokerage to enhance its VIP Business Communications Platform. This all-in-one cloud solution supports video collaboration, business phone communications, and advanced customer experience capabilities, catering to businesses of all sizes. The VIP platform has been recognized with the TMC 2022 Communications Solutions Products of the Year Award and boasts a 100% uptime guarantee, ensuring reliable service. With over three million end users globally, Crexendo is positioned as a leading UCaaS provider, ranking #1 for VoIP Providers on G2.com with a customer satisfaction rating of 4.9 out of 5. This collaboration aims to leverage Jenne's extensive distribution capabilities to promote Crexendo's award-winning solutions.

Crexendo, Inc. (NASDAQ:CXDO) will present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 11:30 AM PST. The presentation will be hosted by Doug Gaylor, President and COO, and CFO Ron Vincent. Investors can access the live webcast here.

1x1 investor meetings can be booked at the conference in Las Vegas. Interested participants can register for Planet MicroCap Showcase here. Crexendo provides cloud communication, video collaboration, and managed IT services, supporting over three million users globally.

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.