Company: CXDO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001654954-25-009071
Chunk: 76

Company: Crexendo, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 and totaled $6 and $8 for the three months ended June 30, 2025 and 2024, respectively, and $12 and $15 for the six months ended June 30, 2025 and 2024, respectively.

10. Notes Payable Notes payable consists of short and long-term financing arrangements:   June 30,  December 31,   2025  2024 Related party note payable $290  $478 Other notes payable  66   114 Total notes payable $356  $592 Less: current notes payable  (356)  (478)Notes payable, net of current portion $-  $114  On February 27, 2023, we entered into a promissory note with CrossFirst Bank in the amount of $278. The promissory note has a term of three (3) years with monthly payments of Eight Thousand Five Hundred Forty-Three ($8,543), including interest of 6.58%, beginning on March 27, 2023. Additionally, the promissory note is subject to certain financial covenants. On November 1, 2022, as part of the acquisition of Allegiant Networks, we entered into a promissory note with the seller in the amount of $1.1 million. The loan agreement has a term of three (3) years with quarterly payments of Ninety-Eight Thousand Three Hundred Eighty-One ($98,381), including interest at 4.00%, beginning on April 1, 2023. As of June 30, 2025 and December 31, 2024, the outstanding balance of the related party note payable was $290 and $478, respectively. During the three months ended June 30, 2025 and 2024, the Company paid principal of $94 and $91, respectively, and interest of $4 and $7, respectively. During the six months ended June 30, 2025 and 2024, the Company paid principal of $188 and $181, respectively, and interest of $8 and $16, respectively.

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As of June 30, 2025, future principal payments are scheduled as follows (in thousands): Year ending December 31,   2025 remaining $242 2026  114 2027  - 2028