Company: CXDO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001654954-25-005149
Chunk: 22

Company: Crexendo, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
$1,179  $3,040 Products, services, and fees transferred over time  7,279   3,967   11,246   $9,140  $5,146  $14,286  Contract balances                 The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers:   March 31,  December 31, (In thousands) 2025  2024 Receivables, which are included in trade receivables, net of allowance for credit losses $4,060  $4,352 Contract assets, net of allowance for credit losses  419   406 Contract liabilities  3,038   3,372 

 16Table of Contents

Significant changes in the contract assets and the contract liabilities balances during the period are as follows:   Three Months Ended  For the Year Ended (In thousands) March 31, 2025  December 31, 2024   ContractAssets  ContractLiabilities  ContractAssets  ContractLiabilities Revenue recognized that was included in the contract liability balance at the beginning of the period $-  $(1,916) $-  $(3,154)Increase due to cash received, excluding amounts recognized as revenue during the period  -   1,582   -   3,938 Transferred to receivables from contract assets recognized at the beginning of the period, net of allowance for credit losses  (83)  -   (302)  - Increase due to additional unamortized discounts  96   -   366   -  Contract assets and allowance for credit losses Our contract assets balance consists of the Company’s rights to consideration for work completed but not billed as of the reporting date. The contract assets are transferred to receivables when the rights become unconditional. Contract assets were as follows (in thousands): March 31,December 31,20252024Gross contract assets$541$533Less: allowance for credit losses(122)(127)Contract assets, net of allowance for credit losses$419$406 The allowance for credit losses was as follows (in thousands): Balance at December 31, 2024 $127 Provision  - Write-offs  (2)