Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 1027

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7A
Chunk 1027
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 of December 31, 2024 and 2023, respectively. Related accumulated depreciation totaled $403 and $337 as of December 31, 2024 and 2023, respectively. The $40 in support contracts were classified as a prepaid expense and are being amortized over the service period of three years. One support contract expired in January 2021 and the other expired in June 2024. Amortization expense is included in general and administrative expenses and totaled $2 and $5 for the years ended December 31, 2024 and 2023, respectively. The interest rates on the finance lease obligations range from 1.37% and 15.74% and interest expense was $2 and $4 for the years ended December 31, 2024 and 2023, respectively.  The maturity of operating leases and finance lease liabilities as of December 31, 2024 are as follows (in thousands): Year ending December 31, Operating Leases  Finance Leases 2025 $578  $21 2026  562   3 2027  467   - 2028  62   - 2029  41   - Total minimum lease payments  1,710   24 Less: amount representing interest  (190)  (1)Present value of minimum lease payments $1,520  $23   Lease term and discount rate December 31, 2024 Weighted-average remaining lease term (years)   Operating leases  3.0 Finance leases  0.6 Weighted-average discount rate    Operating leases  7.5%Finance leases  4.3%

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  Year Ended December 31,   2024  2023 Cash paid for amounts included in the measurement of lease liabilities:      Operating cash flows from operating leases $1,039  $674 Operating cash flows from finance leases  2   5 Financing cash flows from finance leases  (75)  (95)         Non-cash investing and financing activities:         Additions to ROU assets obtained from:        New operating lease liabilities $1,236  $349 New finance lease liabilities  -   - 

17. Commitments and Contingencies