Company: CXDO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001654954-25-005149
Chunk: 28

Company: Crexendo, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 intangible assets $31,373  $(11,551) $19,822  $31,373  $(10,845) $20,528   As of March 31, 2025, the weighted average remaining useful life for customer relationships was 12.1 years, developed technologies was 2.2 years, and trademarks and trade names was 0.2 years. Amortization expense for customer relationships intangible assets is included in sales and marketing expenses and totaled $501 and $527 for the three months ended March 31, 2025 and 2024, respectively. Amortization expense for developed technologies intangible assets is included in cost of software solutions revenue and totaled $182 and $203 for the three months ended March 31, 2025 and 2024, respectively. Amortization expense for trademark and trade name intangible assets is included in general and administrative expenses and totaled $23 and $30 for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, annual amortization of definite lived intangible assets, based on existing intangible assets and current useful lives, is estimated to be the following (in thousands): Year ending December 31,   2025 remaining $2,064 2026  2,457 2027  2,202 2028  1,637 2029  1,557 2030 and thereafter  9,905 Total $19,822 

 21Table of Contents

The following table provides a summary of changes in the carrying amounts of goodwill (in thousands):   Goodwill Balance at January 1, 2024 $9,454 Additions  - Balance at December 31, 2024 $9,454 Additions  - Balance at March 31, 2025 $9,454 

9. Accrued Expenses Accrued expenses consisted of the following (in thousands):   March 31,  December 31,   2025  2024 Accrued wages and benefits $2,045  $2,828 Accrued accounts payable  1,915   1,579 Accrued sales and telecommunications taxes  1,839   1,837 Product warranty liability