Company: CXDO
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001654954-25-012585
Chunk: 40

Company: Crexendo, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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, 2024, respectively. The Company recorded assets classified as property and equipment under finance lease obligations of $486 and $486 as of September 30, 2025 and December 31, 2024, respectively. Related accumulated depreciation totaled $448 and $403 as of September 30, 2025 and December 31, 2024, respectively. The $40 in support contracts were classified as a prepaid expense and are being amortized over the service period of three years. The support contracts expired in September 2025. Amortization expense is included in general and administrative expenses and totaled $0 and $0 for the three months ended September 30, 2025 and 2024, respectively, and for the nine months ended September 30, 2025 and 2024 was $0 and $2, respectively. The interest rates on the finance lease obligations is 15.74% and interest expense was $0 and $0 for the three months ended September 30, 2025 and 2024, respectively, and for the nine months ended September 30, 2025 and 2024 was $1 and $2, respectively. 

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The maturity of operating leases and finance lease liabilities as of September 30, 2025 are as follows: Year ending December 31, Operating Leases  Finance Leases 2025 remaining $157  $1 2026  555   2 2027  458   - 2028  62   - 2029  41   - Total minimum lease payments  1,273   3 Less: amount representing interest  (114)  - Present value of minimum lease payments $1,159  $3  Lease term and discount rate September 30, 2025 Weighted-average remaining lease term (years)   Operating leases  2.4 Finance leases  1.2 Weighted-average discount rate    Operating leases  7.6%Finance leases  15.7%   Nine Months Ended September 30, 2025  Nine Months Ended September 30, 2024 Cash paid for amounts included in the measurement of lease liabilities:      Operating cash flows from operating leases $499  $839 Operating cash flows from finance leases  1   1 Financing