Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 523

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 3
Chunk 523
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 warranties do not represent separate performance obligations. The Company also sells separately-priced maintenance service contracts, which qualify as service-type warranties and represent separate performance obligations. The Company does not typically allow and has no history of accepting material product returns.  Customer support includes software updates on a when-and-if-available basis, telephone support, integrated web-based support and bug fixes or patches. Subscription and maintenance support revenue is recognized ratably over the term of the customer support agreement, which is typically one year. 

We generate professional services and other revenue from consulting, technical support, resident engineer services, design services and installation services. Revenue for professional services and other is recognized when the performance obligation is complete and the customer has accepted the performance obligation.

Our Software solutions revenue increased 30%, or $5,327 to $23,374 for the year ended December 31, 2024, compared to $18,047 for the year ended December 31, 2023. 

 30Table of Contents

Results of Consolidated Operations 

The following discussion of financial condition and results of operations should be read in conjunction with the Consolidated Financial Statements and Notes thereto and other financial information included herein this Annual Report. 

Results of Consolidated Operations (in thousands, except for per share amounts) 

  Year Ended December 31, Consolidated 2024  2023 Service revenue $31,849  $29,668 Software solutions revenue  23,374   18,047 Product revenue  5,615   5,484 Total revenue  60,838   53,199 Income/(loss) before income tax  1,889   (264)Income tax benefit/(provision)  (212)  (98)Net income/(loss)  1,677   (362)Basic earnings per common share $0.06  $(0.01)Diluted earnings per common share $0.06  $(0.01)

  For the three months ended  March 31,  June 30,  September 30,  December 31,  Consolidated 2024  2024  2024 2024 Service revenue $7,845  $8,067  $7,953  $7,984 Software solutions revenue  5,146   5,325