Company: CXDO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001654954-25-005149
Chunk: 51

Company: Crexendo, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 investor relations, depreciation, amortization of intangible assets, and other administrative corporate expenses. The following table reflects our general and administrative expenses 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 General and administrative $1,938  $2,158  $(220)  (10)%

The decrease in general and administrative expenses is primarily related to a decrease in executive and administrative salaries, benefits, bonuses, and share-based compensation of $201, a decrease in telecommunication fees of $44, and a decrease in other general and administrative expenses of $2, offset by an increase in accounting software costs of $27 associated with service contract fees for our new accounting system.

Research and Development

Research and development expenses primarily consist of salaries, benefits, bonuses, and share-based compensation, and outsourced engineering services related to the development of new cloud telecommunications features and products. The following table reflects our research and development expenses 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 Research and development $132  $269  $(137)  (51)%

The decrease in research and development expenses is primarily related to the allocation of engineering resources to our Software Solutions segment of $130 as we finalize the migration of our customers to our VIP platform and a decrease in other research and development expenses of $7.

Other Income/(Expense)

Other income/(expense) primarily relates to interest income, interest expense, net foreign exchange gains or losses, gain on the sale of property and equipment, and credit card cash back rewards.  The following table reflects our other income/(expense) for the three months ended March 31, 2025, compared to the three months ended March 31, 2024:

  Three Months Ended March 31,   2025  2024  Dollar Change  Percent Change Other income/(expense), net $81  $(5) $86   1,720%

The change in other income/(expense) is primarily from an increase in interest income of $79, an increase in other income of $3