Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 408

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 2
Chunk 408
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 Income tax benefit/(provision)  (24)  (24)  (33)  (17)Net income/(loss)  (1,582)  (545)  1,704   61                  Basic earnings per common share (1) $(0.06) $(0.02) $0.07  $0.00 Diluted earnings per common share (1) $(0.06) $(0.02) $0.06  $0.00 

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(1)Earnings per common share is computed independently for each of the quarters presented. Therefore, the sums of quarterly earnings per common share amounts do not necessarily equal the total for the twelve month periods presented.

 31Table of Contents

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

Total Revenue

Total revenue consists of service revenue, software solutions revenue and product revenue. The following table reflects our total revenue for the year ended December 31, 2024, compared to the year ended December 31, 2023:

  Year Ended December 31,    2024  2023  Dollar Change  Percent Change Total revenue $60,838  $53,199  $7,639   14%

The increase in total revenue is due to an increase in software solutions revenue of $5,327, an increase in service revenue of $2,181, and an increase in product revenue of $131.

Income/(loss) Before Income Tax

The following table reflects our income/(loss) before income tax for the year ended December 31, 2024, compared to the year ended December 31, 2023:

  Year Ended December 31,   2024  2023  Dollar Change  Percent Change Income/(loss) before income tax $1,889  $(264) $2,153   816%

The increase in income/(loss) before income tax is primarily related to an increase in revenue of $7,639, offset by an increase in operating expenses of $4,126 and a decrease in other income/(expense) of $1,360. The increase in revenue is primarily related to organic growth from new and existing customers. The increase in operating expenses is primarily related to an increase in