Company: CXDO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001654954-25-009071
Chunk: 105

Company: Crexendo, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 105
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 2024  Dollar Change  Percent Change General and administrative $1,958  $2,232  $(274)  -12%

The decrease in general and administrative expenses is primarily related to a decrease in administrative salaries, benefits, bonuses, and share-based compensation of $159 from the allocation of costs to our Software Solutions Segment, offset by an increase related to company-wide salary increases, a decrease in legal fees of $56 related to the filing of our Form S-3 in 2024, a decrease in telecommunication annual taxes and fees of $27, a decrease in consulting fees of $21, a decrease in rent expense of $17, and a decrease in other general and administrative expenses of $45, offset by an increase in the amortization of the capitalized software development costs intangible asset of $51.

Research and Development

Research and development expenses primarily consist of salaries, benefits, bonuses, and share-based compensation, outsourced engineering services related to the development of new cloud telecommunications features and products. The following table reflects our research and development expenses for the three months ended June 30, 2025, compared to the three months ended June 30, 2024:

  Three Months Ended June 30,   2025  2024  Dollar Change  Percent Change Research and development $115  $258  $(143)  -55%

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The decrease in research and development expenses is primarily related to the allocation of engineering resources to our Software Solutions segment of $149 as we finalize the migration of our customers to our VIP platform, offset by an increase in other research and development expenses of $6.

Other Income/(Expense)

Other income/(expense) primarily relates to interest income, interest expense, net foreign exchange gains or losses, and credit card cash back rewards. The following table reflects our other income/(expense) for the three months ended June 30, 2025, compared to the three months ended June 30, 2024:

  2025  2024  Dollar Change  Percent Change Other income/(expense), net $123  $45  $78   173%

The change in other income/(expense) is primarily related to an increase in interest income of $73 and a decrease in interest expense of $5.

Six months ended June 30, 2025 compared to six months ended June 30,