Company: CXDO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001654954-25-009071
Chunk: 68

Company: Crexendo, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 following table provides information about receivables, contract assets, and contract liabilities from contracts with customers:   June 30,  December 31, (In thousands) 2025  2024 Receivables, which are included in trade receivables, net of allowance for credit losses $5,620  $4,352 Contract assets, net of allowance for credit losses  433   406 Contract liabilities  3,416   3,372  Significant changes in the contract assets and the contract liabilities balances during the period are as follows:   For the Six Months Ended  For the Year Ended (In thousands) June 30, 2025  December 31, 2024   Contract Assets  Contract Liabilities  Contract Assets  Contract Liabilities Revenue recognized that was included in the contract liability balance at the beginning of the period $-  $(2,324) $-  $(3,154)Increase due to cash received, excluding amounts recognized as revenue during the period  -   2,368   -   3,938 Transferred to receivables from contract assets recognized at the beginning of the period, net of allowance for credit losses  (176)  -   (302)  - Increase due to additional unamortized discounts  203   -   366   -  Contract assets and allowance for credit losses Our contract assets balance consists of the Company’s rights to consideration for work completed but not billed as of the reporting date. The contract assets are transferred to receivables when the rights become unconditional. Contract assets were as follows (in thousands):   June 30,  December 31,   2025  2024 Gross contract assets $588  $533 Less: allowance for credit losses  (155)  (127)Contract assets, net of allowance for credit losses $433  $406  The allowance for credit losses was as follows (in thousands): Balance at December 31, 2024 $127 Provision  - Write-offs  (2)Recoveries and other  (3)Balance at March 31, 2025 $122 Provision  37 Write-offs  (4)Recoveries and other