Company: CXDO
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001654954-25-012585
Chunk: 0

Company: Crexendo, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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CREXENDO, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited, in thousands, except par value and share data)

  September 30, 2025  December 31, 2024 Assets      Current assets:      Cash and cash equivalents $28,573  $18,193 Trade receivables, net of allowance of $144 and $146, respectively  4,748   4,352 Inventories  640   393 Equipment financing receivables, net of allowance of $37 and $69, respectively  1,335   1,049 Contract costs  2,173   1,931 Prepaid expenses  1,472   876 Income tax receivable  256   75 Other current assets  118   13 Total current assets  39,315   26,882          Contract assets, net of allowance of $154 and $127, respectively  446   406 Long-term equipment financing receivables, net of allowance of $82 and $157, respectively  3,150   2,397 Property and equipment, net  238   394 Operating lease right-of-use assets  1,114   1,491 Intangible assets, net  18,646   20,528 Goodwill  9,454   9,454 Contract costs, net of current portion  3,228   2,879 Other long-term assets  366   507 Total Assets $75,957  $64,938          Liabilities and Stockholders' Equity        Current liabilities:        Accounts payable $737  $1,003 Accrued expenses  8,057   6,992 Finance leases  3   21 Notes payable  236   478 Operating lease liabilities  484   481 Income tax payable  43   40 Contract liabilities  4,039   3,079 Total current liabilities  13,599   12,094          Contract liabilities, net of current portion  359   293 Finance leases, net of current portion  -   2 Notes payable, net of current portion  -   114 Operating