Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 810

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 5
Chunk 810
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ivables, net  2,397   1,768 Equipment financing receivables, net $3,446  $2,624 

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A summary of our gross equipment financing receivables’ future contractual maturities, is as follows (in thousands): Year ending December 31,   2025 $1,777 2026  1,422 2027  1,069 2028  657 2029 and thereafter  239 Total $5,164  Allowance for Credit Losses The allowance for credit losses was as follows (in thousands): Balance at December 31, 2023 $171 Provision  22 Write-offs  (13)Recoveries and other  - Balance at March 31, 2024 $180 Provision  23 Write-offs  (9)Recoveries and other  - Balance at June 30, 2024 $194 Provision  27 Write-offs  (6)Recoveries and other  - Balance at September 30, 2024 $215 Provision  22 Write-offs  (8)Recoveries and other  (3)Balance at December 31, 2024 $226  Aging of Receivables The aging of gross equipment financing receivables was as follows (in thousands):   December 31,   2024  2023 Past due amounts 0 - 90 days $3,444  $2,623 Past due amounts > 90 days  2   1 Total $3,446  $2,624  Our equipment financing receivable portfolio is primarily in the United States. The allowance for credit losses is determined principally based on an assessment of origination year and past collection experience as well as consideration of current and future economic conditions and changes in our customer collection trends. Based on that assessment, the allowance for credit losses was 6.1% of gross equipment financing receivables (net of unearned income) at December 31, 2024 and December 31, 2023.

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The allowance for credit losses represents an estimate of the losses expected to be incurred from the Company's equipment financing receivable portfolio. The