Crexendo Inc 2025年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ________ to ________. (Exact name of registrant as specified in its charter) Nevada (State or other jurisdiction ofincorporation or organization) 1225 West Washington Street,Suite 213,Tempe,AZ(Address of Principal Executive Offices) (602)714-8500(Registrant’s telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, everyInteractive Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit and post such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). The number of shares outstanding of the registrant’s common stock as of April 30, 2025 was29,030,543. PART I – FINANCIAL INFORMATION PART I - FINANCIAL INFORMATION Crexendo, Inc.AND SUBSIDIARIESCondensed Consolidated Balance Sheets Current assets:Cash and cash equivalents$21,207$18,193Trade receivables, net of allowance of $165and $146, respectively4,0604,352 CREXENDO, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Stockholders' EquityThree Months Ended March 31, 2025 and 2024(Unaudited, in thousands, except share data) CREXENDO, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements(unaudited, in thousands, except per share and share data) 1. Significant Accounting Policies Description of Business –Crexendo, Inc. is incorporated in the state of Nevada. As used hereafter in the notes to condensedconsolidated financial statements, we refer to Crexendo, Inc. and its wholly owned subsidiaries, as “we,” “us,” or “our Company.”Crexendo, Inc. is an award-winning software technology company that is a premier provider of cloud communication platformsoftware and unified communications as a service (UCaaS) offerings, including voice, video, contact center, and managed IT services Basis of Presentation–The condensed consolidated financial statements include the accounts and operations of Crexendo,Inc. and its wholly owned subsidiaries, which include Allegiant Networks, LLC, Crexendo Business Solutions, Inc., NetSapiens, LLC,Crexendo Business Solutions of Virginia, Inc., NSHC, Inc., NetSapiens Canada, Inc., NetSapiens International Limited and CrexendoInternational, Inc. All intercompany account balances and transactions have been eliminated in consolidation. The accompanyingunaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally acceptedaccounting principles (“US GAAP”), consistent in all material respects with those applied in our financial statements included in ourAnnual Report on Form 10-K for the fiscal year ended December 31, 2024. Because these financial statements address interimperiods, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for Foreign Currency Translation-The functional currency of our international subsidiaries is the local currency. We translate assets and liabilities of foreign subsidiaries, whose functional currency is their local currency, at exchange rates in effect at the balancesheet date. We translate revenue and expenses at the monthly average exchange rates. We include accumulated net translationadjustments in stockholders’ equity as a component of accumulated other comprehensive income (loss). Due to changes in exchange rates between reporting periods and changes in certain account balances, the foreign currencytranslation adjustment will change from period to period. During the three months ended March 31, 2025 and 2024, we recorded