Company: CXDO
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001654954-25-012585
Chunk: 35

Company: Crexendo, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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2025, future principal payments are scheduled as follows (in thousands): Year ending December 31,   2025 remaining $122 2026  114 2027  - 2028  - 2029  - Total $236 

11. Line of Credit The Company maintains a line of credit with a maximum principal amount of $700, payable upon demand. The line of credit expires on February 24, 2026. The line of credit bears interest at 0.50% over the Wall Street Journal Prime Rate. As of September 30, 2025, there was an outstanding balance of $0, and $700 remained available for borrowing. The line of credit is collateralized by all company assets. Additionally, the line of credit is subject to certain financial covenants.

12. Fair Value Measurements We have financial instruments as of September 30, 2025 and December 31, 2024 for which the fair value is summarized below (in thousands):    September 30, 2025  December 31, 2024   Carrying Value  Estimated Fair Value  Carrying Value  Estimated Fair Value Assets:            Trade receivables, net $4,748  $4,748  $4,352  $4,352 Equipment financing receivables   4,485   4,485   3,446   3,446 Liabilities:                Finance lease obligations $3  $3  $23  $23 Notes payable  236   237   592   587  We have no liabilities for which fair value is recognized in the balance sheet on a recurring basis as of September 30, 2025 and December 31, 2024.

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13. Income Taxes Our effective tax rate for the three months ended September 30, 2025 and 2024 was 2.9% and 23.7%, respectively, which resulted in an income tax benefit/(provision) of $(43) and $(46), respectively. Our effective tax rate for the nine months ended September 30, 2025 and 2024 was 3.4% and 7.9%, respectively, which resulted in an income tax benefit/(provision) of $(135) and $(100), respectively.