Company: CXDO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001654954-25-005149
Chunk: 77

Company: Crexendo, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 77
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, accounts payable, accounts receivable, prepaid expenses, and various accrued expenses, as well as purchases of property and equipment, asset acquisitions, business combinations, and changes in our capital and financial structure due to debt repayments and issuances, stock option exercises, sales of equity investments and similar events. We believe that our operations along with existing liquidity sources will satisfy our cash requirements for at least the next 12 months.

Operating Activities

Cash provided by or used in operating activities is driven by our net income/(loss), adjustments to reconcile to net cash provided by or used in operating activities, the timing of customer collections, as well as the amount and timing of disbursements to our vendors, the amount of cash we invest in personnel, marketing, and infrastructure costs to support the anticipated growth of our business. The following table reflects our net cash provided by/(used in) operating activities for the three months ended March 31, 2025, compared to the three months ended March 31, 2024:

  Three Months Ended March 31,   2025  2024  DollarChange  PercentChange  Net cash provided by/(used in) operating activities $1,238  $(166) $1,404   846%

The net cash provided by operations for the three months ended March 31, 2025 was primarily driven by our net income of $1,171, non-cash expenses for depreciation and amortization of $771, share-based compensation of $726, and a decrease in trade receivables of $292, offset by a decrease in accounts payable and accrued expenses of $695, a decrease in contract liabilities of $334, an increase in equipment financing receivables of $241, an increase in contract costs of $192, and an increase in inventory of $183.

The net cash used in operations for the three months ended March 31, 2024 was primarily driven by an increase in trade receivables of $740, an increase in equipment financing receivables of $137, an increase in contract costs of $379, an increase in prepaid expense of $391, and a decrease in accounts payable and accrued expenses of $1,099, offset by non-cash expenses for depreciation and amortization of $840 and share-based compensation of $728, our net income for the three months ended March 31, 2024 of $434 and an increase in contract liabilities of $508.

Investing Activities

Cash provided by