Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 353

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1A
Chunk 353
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 Total deferred  -   -          Total income tax benefit/(provision) $(212) $(98) The income tax provision attributable to income before income tax benefit for the years ended December 31, 2024 and 2023 differed from the amounts computed by applying the U.S. federal statutory tax rate of 21%, as a result of the following (in thousands):   Year Ended December 31,   2024  2023 U.S. federal statutory income tax benefit/(provision) $(397) $56 Increase in income tax benefit resulting from:        State and local income tax benefit/(provision), net of federal effect  (135)  (69)Change in the valuation allowance for net deferred income tax assets  (246)  219 Stock-based compensation  595   (418)Other, net  (29)  114 Income tax benefit/(provision) $212) $(98)

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As of December 31, 2024 and 2023, significant components of net deferred income tax assets and liabilities were as follows (in thousands):    December 31,   2024  2023 Deferred income tax assets:      Accrued expenses $290  $392 Deferred revenue  661   466 Net operating loss carry-forwards  5,729   6,451 Stock-based compensation  812   747 Other  14   20 Total deferred tax assets  7,506   8,076 Valuation allowances  (5,417)  (4,782)Net deferred tax assets  2,089   3,294          Deferred tax liabilities:        Property and equipment  (15)  (41)Prepaid expenses and other  (1,028)  (723)Intangible assets  (1,046)  (2,530)Total deferred tax liabilities  (2,089)  (3,294)         Net deferred tax assets (liabilities) $-  $-  As of December 31, 2024, we had NOL and research credit carry-forwards for U.S. federal income tax reporting purposes of approximately $17,372 and $2, respectively. $