Company: CXDO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001654954-25-009071
Chunk: 82

Company: Crexendo, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 82
---
403 as of June 30, 2025 and December 31, 2024, 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 $0 and $1 for the three months ended June 30, 2025 and 2024, respectively, and for the six months ended June 30, 2025 and 2024 was $0 and $2, respectively. The interest rate on the finance lease obligation is 15.74% and interest expense was $0 and $1 for the three months ended June 30, 2025 and 2024, respectively, and for the six months ended June 30, 2025 and 2024 was $0 and $2, respectively.  The maturity of operating leases and finance lease liabilities as of June 30, 2025 are as follows: Year ending December 31, Operating Leases  Finance Leases 2025 remaining $294  $2 2026  555   2 2027  458   - 2028  62   - 2029  41   - Total minimum lease payments  1,410   4 Less: amount representing interest  (138)  - Present value of minimum lease payments $1,272  $4  Lease term and discount rate June 30, 2025 Weighted-average remaining lease term (years)   Operating leases  2.6 Finance leases  1.4 Weighted-average discount rate    Operating leases  7.6%Finance leases  15.7%   Six Months Ended  June 30, 2025  Six Months Ended  June 30, 2024 Cash paid for amounts included in the measurement of lease liabilities:      Operating cash flows from operating leases $330  $450 Operating cash flows from finance leases  -   1 Financing cash flows from finance leases  (38)  (37)

 26Table of Contents

16. Commitments and Contingencies Annual Employee Bonus Plan Accrual We utilize incentive bonuses to reward