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. Chief Executive Officer Jeffrey G. Korn reported multiple equity award transactions. On March 4 and 5, 2026, he acquired common stock through the exercise or conversion of restricted stock units (RSUs), with several RSU grants scheduled to vest over quarterly or monthly periods, subject to continued employment.
The company withheld shares of common stock, including 1,218 shares at $6.47 and 1,218 shares at $6.88 per share, to cover payroll taxes; footnotes state these tax-withholding transactions do not represent sales by the reporting person.
Crexendo, Inc. reports full-year 2025 results showing growth across its cloud communications and software businesses. Total revenue reached $68,167 thousand for 2025, up from $60,838 thousand in 2024, driven by both cloud telecommunications and software solutions.
Cloud telecommunications services generated revenue of $38,503 thousand, while software solutions contributed $29,664 thousand. Income before income tax improved to $5,371 thousand, compared with $1,889 thousand in 2024, and consolidated Adjusted EBITDA rose to $11,205 thousand from $8,157 thousand. Annualized exit recurring revenue increased to $57,529 thousand with a consolidated net dollar subscription retention rate of 100%, underscoring the importance of recurring UCaaS and software subscription models in Crexendo’s strategy.
Crexendo reported strong growth and profitability for 2025. Full-year revenue rose 12% to $68.2 million, driven mainly by a 27% increase in software solutions revenue to $29.7 million, while service revenue grew 6% to $33.8 million and product revenue declined 16% to $4.7 million.
Net income for 2025 increased to $5.1 million from $1.7 million, with non-GAAP net income rising to $11.4 million from $7.7 million. EBITDA grew to $8.0 million and Adjusted EBITDA to $11.2 million. Fourth quarter revenue was $18.1 million, up 11%, with net income of $1.2 million and non-GAAP net income of $2.8 million.
Cash and cash equivalents reached $31.4 million at December 31, 2025, up from $18.2 million a year earlier, supported by $9.3 million of cash provided by operating activities. Management highlighted ten consecutive GAAP-profitable quarters, continued user growth to over seven million, progress in AI offerings such as CAIRO, and the recently announced acquisition of ESI to support a strategy of profitable organic growth plus strategic M&A.
Crexendo has completed its acquisition of Estech Systems (ESI) for $35 million, made up of $27.3 million in cash and $7.7 million in common stock, equal to about 1.35x ESI’s unaudited 2025 revenue.
ESI generated about $26 million of revenue in 2025, supports over 6,200 retail accounts and more than 75,000 seats, and is one of Crexendo’s longest-tenured NetSapiens platform licensees. The deal is expected to be immediately accretive to revenue, EBITDA and cash flow and helps position Crexendo toward a $100 million annual revenue run rate with greater operating leverage.
Management highlights expected cost synergies from facilities consolidation, licensing optimization, employee cross‑utilization, operational and network expense savings, and migration to Oracle Cloud Infrastructure, along with revenue synergies from cross‑selling, broader channel reach and platform expansion. They expect these initiatives to improve EBITDA margins and cash flow over the next 12–24 months.
Crexendo, Inc. Chief Financial Officer Vincent Ron reported routine equity award activity involving restricted stock units and common stock. On February 25, 2026, he acquired 278 shares of common stock through derivative exercise/conversion transactions at $0.00 per share, reflecting RSUs settling into stock.
The company withheld 91 shares of common stock, using a closing price of $5.84, to pay associated payroll taxes, and the disclosure specifies these tax-withholding dispositions do not represent sales by Ron. After these transactions, he directly holds 173,009 shares of Crexendo common stock.
The RSUs referenced vest in equal monthly installments over 36 months starting on March 25, 2025 and October 25, 2025, subject to continuous employment, with one share of CXDO common stock delivered for each RSU upon vesting.
Crexendo, Inc. Chief Executive Officer Jeffrey G. Korn reported routine equity compensation activity involving restricted stock units (RSUs) that vested into common shares on February 25, 2026. He acquired a total of 556 shares of common stock through derivative exercises converting RSUs into shares at a stated price of $0.00 per share.
In connection with these vesting events, the company withheld 82 shares and 83 shares of common stock, respectively, using a closing stock price of $5.84 on February 25, 2026 to cover associated payroll taxes. Footnotes clarify these withholdings are tax-related and do not represent open-market sales by the reporting person. Following the transactions, Korn directly held 239,582 shares of Crexendo common stock.
Crexendo, Inc.’s Chief Operating Officer Douglas Walter Gaylor reported routine equity compensation activity. On February 25, 2026, he acquired common stock through the exercise and conversion of restricted stock units (RSUs), a non-cash transaction at a stated price of $0.00 per share.
The company withheld 91 shares of common stock in two separate transactions at a price of $5.84 per share to cover associated payroll taxes, and the footnotes state these withholdings do not represent sales by the reporting person. Following these transactions, Gaylor directly owned 263,346 shares of Crexendo common stock.
Footnotes explain that each RSU converts into one share of common stock upon vesting, and that the RSUs vest in equal monthly installments over 36 months starting on March 25, 2025 and October 25, 2025, subject to continuous employment, with shares delivered upon vesting.
Crexendo, Inc. (CXDO) Chief Operating Officer Douglas Walter Gaylor reported an equity grant of 10,000 restricted stock units (RSUs). The RSUs were awarded on February 4, 2026 and each RSU represents the right to receive one share of Crexendo common stock upon vesting.
The 10,000 RSUs vest in equal monthly installments over 36 months starting on March 4, 2026, until they are fully vested, contingent on continued employment. Shares of common stock will be delivered as the RSUs vest. Following this grant, Gaylor beneficially owns 10,000 derivative securities directly.
Crexendo, Inc. reported an insider equity award for its Chief Executive Officer, Jeffrey G. Korn. On February 4, 2026, he was granted 10,000 restricted stock units (RSUs) at a stated price of $0 per unit, held as a derivative security.
Each RSU represents the right to receive one share of CXDO common stock upon vesting, contingent on continued employment. The RSUs vest in equal monthly installments over 36 months, starting on March 4, 2026, until fully vested, with shares delivered upon each vesting date. Following this grant, he directly beneficially owns 10,000 derivative securities related to these RSUs.
Crexendo, Inc. reported that its Chief Financial Officer, Ron Vincent, received a grant of 10,000 restricted stock units on February 4, 2026. Each RSU represents the right to receive one share of Crexendo common stock upon vesting, contingent on continued employment.
The RSUs vest in equal monthly installments over 36 months, starting on March 4, 2026, until they are fully vested. Following this grant, Vincent beneficially owns 10,000 derivative securities in the form of RSUs held directly.