Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 466

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 2
Chunk 466
---
 is collateralized by all Company assets and subject to certain financial covenants. 

12. Fair Value Measurements We have financial instruments as of December 31, 2024 and 2023 for which the fair value is summarized below (in thousands):     December 31, 2024  December 31, 2023   Carrying Value  Estimated Fair Value  Carrying Value  Estimated Fair Value Assets:            Trade receivables, net $4,352  $4,352  $3,476  $3,476 Equipment financing receivables   3,446   3,446   2,624   2,624 Liabilities:                Finance leases $23  $23  $98  $98 Notes payable  592   587   1,049   1,012  We have no liabilities for which fair value is recognized in the balance sheet on a recurring basis as of December 31, 2024 and 2023.

 70Table of Contents

13. Equity Common Stock Shares of common stock reserved for future issuance as of December 31, 2024 were as follows (in thousands):    Stock-based compensation plans:   Share-based awards issued under plans  7,122 Available for future grants  1,612    8,734 

14. Stock-Based Compensation We have various incentive stock-based compensation plans that provide for the grant of stock options, restricted stock units (RSUs), and other share-based awards of up to 8,734 shares to eligible employees, consultants, and directors. As of December 31, 2024, we had 1,612 shares remaining in the plans available to grant.  Stock Options The weighted-average fair value of stock options on the date of grant and the assumptions used to estimate the fair value of stock options granted during the years ended December 31, 2024 and 2023 using the Black-Scholes option-pricing model were as follows:   Year Ended December 31,   2024  2023 Weighted-average fair value of options granted $3.64  $1.38 Expected volatility  75%  88%Expected life (in years)  5.69   5.74 Risk-free interest rate  4