Company: CXDO
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001654954-25-012585
Chunk: 75

Company: Crexendo, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 accounts payable and accrued expenses of $799, offset by an increase in equipment financing receivables of $932, an increase in prepaid expenses of $596, an increase in contract costs of $591, an increase in trade receivables of $394, and an increase in inventory of $247.

The net cash provided by operating activities for the nine months ended September 30, 2024 was primarily driven by non-cash expenses for depreciation and amortization of $2,505, share-based compensation of $2,293, our net income for the nine months ended September 30, 2024 of $1,170, an increase in accounts payable and accrued expenses of $695, and an increase in contract liabilities of $335, offset by an increase in contract costs of $867, an increase in prepaid expense of $819, an increase in equipment financing receivables of $585, an increase in trade receivables of $277, and an increase in inventories of $169.

 48Table of Contents

Investing Activities

Cash provided by or used in investing activities is driven by the purchase of property and equipment, business combinations, and asset acquisitions. The following table reflects our net cash provided by/(used in) investing activities for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024:

  Nine Months Ended September 30,   2025  2024  Dollar Change  Percent Change Net cash provided by/(used in) investing activities $(18) $-  $(18)  100%

The net cash used in investing activities for the nine months ended September 30, 2025 was for the purchase of property and equipment.

Financing Activities

Cash provided by or used in financing activities is driven by the proceeds from the exercise of options, taxes paid on the net settlement of stock options and RSUs, payments of contingent consideration, proceeds from finance leases and notes payable, repayments made on finance leases and notes payable, proceeds and repayments on line of credit, and proceeds from the issuance of common stock in connection with an offering. The following table reflects our net cash provided by/(used in) financing activities for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024:

  2025  2024  Dollar Change  Percent Change Net cash provided by/(used in)