Company: CXDO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001654954-25-005149
Chunk: 0

Company: Crexendo, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Crexendo, Inc. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited, in thousands, except par value and share data)

  March 31,2025  December 31,2024 Assets      Current assets:      Cash and cash equivalents $21,207  $18,193 Trade receivables, net of allowance of $165 and $146, respectively  4,060   4,352 Inventories  576   393 Equipment financing receivables, net of allowance of $31 and $69, respectively  1,138   1,049 Contract costs  2,108   1,931 Prepaid expenses  993   876 Income tax receivable  42   75 Other current assets  25   13 Total current assets  30,149   26,882          Contract assets, net of allowance of $122 and $127, respectively  419   406 Long-term equipment financing receivables, net of allowance of $69 and $157, respectively  2,549   2,397 Property and equipment, net  329   394 Operating lease right-of-use assets  1,334   1,491 Intangible assets, net  19,822   20,528 Goodwill  9,454   9,454 Contract costs, net of current portion  2,894   2,879 Other long-term assets  499   507 Total Assets $67,449  $64,938          Liabilities and Stockholders' Equity        Current liabilities:        Accounts payable $861  $1,003 Accrued expenses  6,439   6,992 Finance leases  2   21 Notes payable  475   478 Operating lease liabilities  467   481 Income tax payable  40   40 Contract liabilities  2,833   3,079 Total current liabilities  11,117   12,094          Contract liabilities, net of current portion  205   293 Finance leases, net of current portion  2   2 Notes payable, net of current portion  -   114 Operating lease liabilities, net