Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 463

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 2
Chunk 463
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 and equipment, net $394  $670  Depreciation expense is included in general and administrative expenses and totaled $303 and $404 for the years ended December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, we disposed of computer and office equipment, computer software, and furniture and fixtures totaling $666 with accumulated depreciation of $666.

8. Intangible Assets and Goodwill Acquired intangible assets subject to amortization consist of the following (in thousands):   December 31, 2024  December 31, 2023   Gross Carrying Amount  Accumulated Amortization  Net Carrying Amount  Gross Carrying Amount  Accumulated Amortization  Net Carrying Amount Customer relationships $26,073  $(7,403) $18,670  $26,073  $(5,260) $20,813 Developed technologies  4,900   (3,081)  1,819   4,900   (2,269)  2,631 Trademark and trade names  400   (361)  39   400   (288)  112 Total acquired intangible assets $31,373  $(10,845) $20,528  $31,373  $(7,817) $23,556  As of December 31, 2024, the weighted average remaining useful life for customer relationships was 12.4 years, developed technologies was 2.4 years, and trademarks and trade names was 0.4 years. Amortization expense for customer relationships intangible assets is included in selling and marketing expenses and totaled $2,105 and $2,182 for the years ended December 31, 2024 and 2023, respectively. Amortization expense for developed technologies intangible assets is included in cost of software solutions revenue and totaled $812 and $860 for the years ended December 31, 2024 and 2023, respectively. Amortization expense for trademark and trade name intangible assets is included in general and administrative expenses and totaled $111 and $127 for the years ended December 31, 2024 and 2023, respectively.  As of December 31, 2024, annual