Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 1298

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 1298
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 receivables are typically collateralized by a security interest in the underlying equipment. Equipment financing receivables were as follows (in thousands):   December 31,   2024  2023 Gross equipment financing receivables $5,164  $3,888 Less: unearned income  (1,492)  (1,093)Less: allowance for credit losses  (226)  (171)Equipment financing receivables, net $3,446  $2,624          Current equipment financing receivables, net $1,049  $856 Long-term equipment financing  receivables, net  2,397   1,768 Equipment financing receivables, net $3,446  $2,624 

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A summary of our gross equipment financing receivables’ future contractual maturities, is as follows (in thousands): Year ending December 31,   2025 $1,777 2026  1,422 2027  1,069 2028  657 2029 and thereafter  239 Total $5,164  Allowance for Credit Losses The allowance for credit losses was as follows (in thousands): Balance at December 31, 2023 $171 Provision  22 Write-offs  (13)Recoveries and other  - Balance at March 31, 2024 $180 Provision  23 Write-offs  (9)Recoveries and other  - Balance at June 30, 2024 $194 Provision  27 Write-offs  (6)Recoveries and other  - Balance at September 30, 2024 $215 Provision  22 Write-offs  (8)Recoveries and other  (3)Balance at December 31, 2024 $226  Aging of Receivables The aging of gross equipment financing receivables was as follows (in thousands):   December 31,   2024  2023 Past due amounts 0 - 90 days $3,444  $2,623 Past due amounts > 90 days  2   1 Total