Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 1303

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 1303
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478 and $843, respectively. During the year ended December 31, 2024 and 2023, the Company paid principal of $365 and $257, respectively, and interest of $27 and $37, respectively. As of December 31, 2024, future principal payments are scheduled as follows (in thousands): Year ending December 31,   2025 $478 2026  114 2027  - 2028  - 2029 and thereafter  - Total $592 

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 was renewed on February 27, 2024 and will expire on February 27, 2025. The line of credit bears interest at 0.50% over the Wall Street Journal Prime Rate. As of December 31, 2024, there was an outstanding balance of $0, and $700 remained available for borrowing. The line of credit is collateralized by all Company assets and subject to certain financial covenants. 

12. Fair Value Measurements We have financial instruments as of December 31, 2024 and 2023 for which the fair value is summarized below (in thousands):     December 31, 2024  December 31, 2023   Carrying Value  Estimated Fair Value  Carrying Value  Estimated Fair Value Assets:            Trade receivables, net $4,352  $4,352  $3,476  $3,476 Equipment financing receivables   3,446   3,446   2,624   2,624 Liabilities:                Finance leases $23  $23  $98  $98 Notes payable  592   587   1,049   1,012  We have no liabilities for which fair value is recognized in the balance sheet on a recurring basis as of December 31, 2024 and 2023.

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13. Equity Common Stock Shares of common stock reserved for future issuance as of December 31, 2024 were as follows (in thousands):    Stock-based compensation plans:   Share-based awards issued under plans  7,122 Available for future grants