Crexendo, Inc. filings document the formal disclosure record for its cloud communications and UCaaS software business. Recent Form 8-K reports include financial results furnished with service, software solutions and product revenue categories, operating expense metrics, net income, EBITDA and adjusted EBITDA measures.
The filing record also covers material corporate events and governance matters, including the completed acquisition of Estech Systems, LLC, a credit agreement with revolving and term-loan facilities, annual meeting voting results, director elections, advisory compensation votes, and Regulation FD investor-presentation disclosures. These filings describe Crexendo's financing arrangements, capital actions, shareholder approvals, governance structure and operating performance as a public software technology company.
Crexendo, Inc. (CXDO) reported third-quarter revenue of $25.182 million for the three months ended September 30, 2026, versus $17.497 million a year earlier. Service revenue was $15.052 million, software solutions revenue $7.695 million and product revenue $2.435 million. Net income was $1.118 million, compared with $1.450 million; operating income was $1.082 million versus $1.305 million.
For the nine months ended September 30, 2026, revenue was $70.538 million versus $50.106 million and net income was $2.747 million versus $3.853 million. Operating cash flow was $9.675 million versus $6.950 million. Cash and equivalents were $22.841 million at September 30, 2026, compared with $31.378 million at December 31, 2025.
Crexendo closed its purchase of Estech Systems, LLC and ESI Hosted Services, LLC on March 1, 2026, for $34.733 million: $27.300 million in cash and 1,159,638 common shares valued at $7.433 million. ESI's historical results were not significant to Crexendo's reported results for the periods presented.
Crexendo, Inc. (CXDO) reported third-quarter 2026 revenue of $25.2 million, up 44% year over year, including service revenue of $15.1 million, up 75%. Software solutions revenue was $7.7 million, up 2%, and product revenue was $2.4 million, up 78%. Operating expenses increased 49% to $24.1 million. GAAP net income was $1.1 million, compared with $1.5 million a year earlier; adjusted EBITDA was $4.0 million, compared with $2.9 million.
For the first nine months, revenue was $70.5 million, up 41%, and GAAP net income was $2.7 million, versus $3.9 million. Operating activities provided $9.7 million of cash, while investing activities used $26.2 million for a business acquisition; financing activities provided $8.0 million. Cash and equivalents were $22.8 million as of September 30, 2026, compared with $31.4 million as of December 31, 2025. Management said the company added five platform licensees in Q3, bringing its year-to-date total to 16, and that its solutions supported more than eight million end users.
Crexendo, Inc. Chief Operating Officer Douglas Walter Gaylor reported vesting of 1,111 restricted stock units into common stock on October 27, 2026, and two separate 278-share RSU vestings on October 25, 2026. Crexendo withheld 304 shares at $5.90 on October 27, and 77 and 76 shares at $5.75 each on October 25, for associated payroll taxes; the footnotes state these were not sales by Gaylor.
The related RSUs vest in equal monthly installments over 36 months, subject to continuous employment. The 278-share tranches began vesting March 25, 2025, and October 25, 2025; the 1,111-share tranche began June 27, 2026.
Crexendo, Inc. (CXDO) Chief Executive Officer Jeffrey G. Korn reported RSU conversions and acquisition of 1,667 common shares: two reported acquisitions of 278 shares each on October 25, 2026, and 1,111 shares on October 27, 2026. The Company withheld 407 shares for payroll taxes, including two 68-share entries on October 25 and 271 shares on October 27, using closing stock prices of $5.75 and $5.90, respectively. The footnotes state these withholdings were not sales by Korn. The RSUs vest in equal monthly installments over 36 months, subject to continuous employment.
Crexendo, Inc. Chief Financial Officer Ron Vincent reported the conversion of 1,667 restricted stock units into common stock on October 25 and October 27, 2026. The RSUs vest in equal monthly installments over 36 months, subject to continuous employment. Crexendo withheld 707 shares for associated payroll taxes: two entries of 118 shares each at $5.75 on October 25 and 471 shares at $5.90 on October 27. The footnotes state these withholdings were not sales by Vincent.
Crexendo, Inc. asks stockholders at its December 2, 2026 annual meeting to elect three director nominees—Anil Puri, L. Jasmine Kim and Chris McKee—approve a 5,000,000-share increase to its 2021 Long-Term Incentive Plan, and ratify Urish Popeck & Co. as auditor for fiscal 2026. The plan change is subject to stockholder approval, and no awards from the additional reserve may be granted beforehand. The board recommends voting for all three proposals.
Common shares outstanding totaled 33,369,158 as of October 6, 2026. As of September 30, 2026, approximately 3,646,753 shares were subject to outstanding awards under prior plans and 655,788 shares remained available for future grants under the 2021 Plan. If approved, the amendment would set the total reserve at no more than 15,000,000 shares plus shares underlying 2013 Plan awards that expire, terminate, are canceled or forfeited.
Crexendo says economic uncertainty and higher interest rates are affecting customer investment decisions, reducing the size of some initial license purchases and slowing upgrade timing. It expects a substantial uptick in initial license purchases and upgrades as conditions become clearer and customers gain confidence, while noting the timing remains uncertain.
Crexendo, Inc. asks stockholders to approve an amendment to its 2021 Long-Term Incentive Plan adding 5,000,000 shares for future grants. If approved, the plan reserve would be no more than 15,000,000 shares, plus shares underlying 2013 Plan awards that expire, terminate, are canceled or forfeited; awards from the additional reserve cannot be granted before approval. As of September 30, 2026, approximately 3,646,753 shares were subject to outstanding awards and 655,788 were available for future grants.
The December 2, 2026 annual meeting includes election of three Class II directors and ratification of Urish Popeck & Co. as auditor for the year ending December 31, 2026; holders of record on October 6, 2026 may vote. The board recommends votes in favor of all proposals. The plan amendment requires a majority of voting power present and entitled to vote, with abstentions counting against it. If it fails, the current plan remains, but Crexendo says it may lack shares for further stock-settled awards and be forced to use cash-based incentives. Chairman and CEO Jeffrey G. Korn says economic uncertainty and higher rates are reducing the size of some initial license purchases and slowing upgrades. Crexendo expects its largest platform upgrade to be completed in the first or second quarter of 2027; the timing of a projected pickup in license purchases and upgrades remains uncertain.
Crexendo, Inc. Chief Operating Officer Douglas Walter Gaylor converted 278 restricted stock units into 278 common shares on October 4, 2026. The units vest in equal monthly installments over 36 months starting March 4, 2026, subject to continuous employment, with shares delivered upon vesting. Crexendo withheld 77 shares for associated payroll taxes using the October 4 closing stock price of $5.92; this was not a sale by Gaylor. He held 7,779 restricted stock units following the transaction. No Rule 10b5-1 plan is reported.
Crexendo, Inc. Chief Executive Officer Jeffrey G. Korn reported conversion of 278 restricted stock units into 278 common shares on October 4, 2026, subject to continuous employment. Crexendo withheld 68 shares for associated payroll taxes, using a closing price of $5.92 per share; the withholding was not a sale by Korn. His reported RSU balance after the transaction was 7,779. No Rule 10b5-1 plan is reported.