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. reports developments across its cloud communications and unified communications as a service business. Company news centers on cloud communication platform software, voice, video, contact center capabilities, managed IT services, and customer or partner deployments that use Crexendo technology for business communications.
Recurring updates also cover quarterly and annual financial results, service, software solutions and product revenue trends, investor presentations, third-party software-market recognition, and capital or strategic actions. Recent company history includes the completed acquisition of Estech Systems, LLC, a cloud communications provider and long-tenured NetSapiens platform licensee, which expanded Crexendo's operating scale in cloud communications.
Crexendo (NASDAQ: CXDO), a leading cloud communication provider, has achieved a significant milestone by doubling BCN's IP voice platform capacity.
This enhancement caters to the growing demand for BCN's cloud voice solutions, powered by Crexendo's award-winning NetSapiens platform.
BCN's expanded portfolio includes UCaaS, SIP trunking, and POTS Replacement solutions. Since their partnership began in 2020, Crexendo has supported BCN in transitioning from TDM to advanced IP-based services.
Julian Jacquez, BCN's President, praised Crexendo's customer-focused approach and reliability, while Crexendo's CEO, Jeff Korn, highlighted the transformative impact of this capacity boost on meeting market demands.
For more details, visit www.crexendo.com.
Crexendo (NASDAQ:CXDO) reported strong Q2 2024 results, with revenue up 16% year-over-year to $14.7 million. The company saw significant improvements across key financial metrics:
- Net income of $0.6 million, up 220% YoY
- Non-GAAP net income of $2.1 million, up 91% YoY
- EPS of $0.02 per share, up 200% YoY
- Non-GAAP EPS of $0.08 (basic) and $0.07 (diluted), up 100% and 75% YoY respectively
Software solutions revenue grew 35% to $5.3 million, while service revenue increased 10% to $8.1 million. The company's cash position strengthened to $13.6 million, up from $10.3 million at the end of 2023.
Crexendo's NetSapiens Platform has been named a finalist in the Best Industry Enabler category at the 2024 Comms Council UK Awards. This recognition highlights Crexendo's commitment to innovation and excellence in the global telecommunications industry. The Comms Council UK Awards celebrate outstanding achievements in communications, and being nominated underscores the global impact and industry leadership of Crexendo's platform.
Scott Goodwin, SVP of International Markets at Crexendo, emphasized the platform's ability to revolutionize service delivery for providers worldwide. CEO Jeff Korn noted that this nomination signifies Crexendo's substantial international growth and expects further acceleration. The NetSapiens Platform offers a comprehensive suite of unified communications solutions, focusing on flexibility, customization, and seamless integration for service providers in various markets.
Crexendo (NASDAQ:CXDO) has announced its second quarter 2024 financial results conference call, scheduled for August 6, 2024, at 4:30 PM ET. Key executives, including CEO Jeff Korn, President and COO Doug Gaylor, and CFO Ron Vincent, will present prepared remarks and conduct a Q&A session.
Participants can join the call using the following dial-in numbers:
- Domestic: 888-506-0062
- International: 973-528-0011
- Access code: 595520
A replay will be available until August 13, 2024, accessible via 877-481-4010 (domestic) or 919-882-2331 (international) with passcode 50906.
On July 10, 2024, Crexendo (NASDAQ: CXDO) announced its recognition for outstanding platform usability and exceptional customer satisfaction in G2's Summer 2024 Reports. This marks the sixth consecutive quarter Crexendo has topped multiple satisfaction categories, including Ease of Setup, Ease of Use, and Ease of Administration. The company achieved #1 ratings for product features like Video Conferencing, File Sharing, and Voicemail to SMS. Crexendo also retained the Best Relationships award and maintained a 4.9 out of 5-star rating for nine quarters. CEO Jeff Korn highlighted ongoing innovations and customer service improvements, including appointing a new Senior VP of Support and Customer Success.
Crexendo (NASDAQ: CXDO), a leader in cloud communication platforms, has named Tim Wilbourn as Senior Vice President of Support and Customer Success. Wilbourn, who has over a decade of expertise in SaaS and UCaaS sectors, joins from RingCentral.
At RingCentral, he served as Vice President of Customer Experience, leading initiatives that boosted customer satisfaction and operational efficiency. CEO Jeff Korn praised Wilbourn's transformative leadership, highlighting his role in enhancing Crexendo's award-winning software platform.
Wilbourn expressed excitement about advancing Crexendo's customer service. He is also an advocate for diversity, having led the WISE Employee Resource Group.
Crexendo has been awarded the 2024 INTERNET TELEPHONY Product of the Year Award by TMC, marking the fourth consecutive year they've received this honor. The award recognizes their NetSapiens software platform, which supports over 4.5 million users, almost double the industry average. CEO Jeff Korn attributes this success to their innovative approach and significant user growth. Additionally, Frost & Sullivan has named Crexendo the fastest-growing platform in the industry. This accolade underlines Crexendo's leadership in the SaaS and cloud communications sectors.
Crexendo, Inc. (NASDAQ:CXDO) reported strong financial results for the first quarter of 2024 with a 14% year-over-year increase in total revenue to $14.3 million. The company achieved GAAP net income of $434,000 and non-GAAP net income of $1.9 million. Operating expenses decreased by 2% while EBITDA and Adjusted EBITDA showed significant improvement. Cash and cash equivalents rose to $11.0 million. The company remains focused on driving organic growth and pursuing strategic opportunities for expansion.
Crexendo, Inc. (NASDAQ:CXDO) has partnered with Oracle Cloud Infrastructure (OCI) to provide cloud communication platforms and services globally. This collaboration marks a significant milestone in Crexendo's growth and expansion, offering unparalleled flexibility to partners and ensuring a secure and reliable platform for users. With over 4.5 million users on Crexendo's NetSapiens platform, the move to OCI solidifies Crexendo's position as a trusted industry leader, redefining the future of cloud communication solutions.
Crexendo, Inc. (NASDAQ:CXDO) will present at the 19th Annual Needham Technology, Media & Consumer Conference on May 14, 2024. The company offers cloud communication platforms, video collaboration, and managed IT services. Executives will host presentations and meetings with investors.