Company: CXDO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001654954-25-009071
Chunk: 28

Company: Crexendo, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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 Change Net cash provided by/(used in) operating activities $2,533  $2,486  $47   2%

 48Table of Contents

The net cash provided by operating activities for the six months ended June 30, 2025 was primarily driven by our net income of $2,403, non-cash expenses for depreciation and amortization of $1,627, and share-based compensation of $1,488, offset by a an increase in trade receivables of $1,268, an increase in prepaid expenses of $421, an increase in equipment financing receivables of $396, an increase in contract costs of $231, an increase in inventory of $225, and an increase in income tax receivable of $152.

The net cash provided by operating activities for the six months ended June 30, 2024 was primarily driven by non-cash expenses for depreciation and amortization of $1,676, share-based compensation of $1,512, our net income for the six months ended June 30, 2024 of $1,022, an increase in contract liabilities of $417, and an increase in accounts payable and accrued expenses of $104, offset by an increase in contract costs of $574, an increase in prepaid expense of $534, an increase in trade receivables of $516, an increase in equipment financing receivables of $298, and an increase in inventories of $172.

Investing Activities

Cash provided by or used in investing activities is driven by the purchase of property and equipment, business combinations, and asset acquisitions. The following table reflects our net cash provided by/(used in) investing activities for the six months ended June 30, 2025, compared to the six months ended June 30, 2024:

  Six Months Ended June 30,   2025  2024  Dollar Change  Percent Change Net cash provided by/(used in) investing activities $(18) $-  $18   100%

The net cash used in investing activities for the six months ended June 30, 2025 was for the purchase of property and equipment.

Financing Activities

Cash provided by or used in financing activities is driven by the proceeds from the exercise of options, taxes paid on the net settlement of stock options and RSUs, payments of contingent consideration, proceeds from finance leases and notes payable, repayments made on finance leases and notes payable