Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 893

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7
Chunk 893
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 December 31,   2024  2023  Dollar Change  Percent Change Net cash provided by/(used in) investing activities $(27) $3,700  $(3,727)  -101%

Net cash used in investing activities for the year ended December 31, 2024 primarily relates to the purchases of property and equipment of $27. 

Net cash provided by investing activities for the year ended December 31, 2023 primarily relates to the sale of the corporate headquarters located in Tempe, Arizona, which generated $3,792 in proceeds from the sale, offset by the purchases of property and equipment of $92. 

 44Table of Contents

Financing Activities

Cash provided by or used in financing activities is driven by the proceeds from the exercise of options, taxes paid on the net settlement of stock options and RSUs, payments of contingent consideration, proceeds from notes payable, repayments made on finance leases and notes payable, proceeds and repayments on line of credit, dividend payments, and proceeds from the issuance of common stock in connection with an offering. The following table reflects our net cash provided by financing activities for the year ended December 31, 2024, compared to the year ended December 31, 2023:

  Year Ended December 31,   2024  2023  Dollar Change  Percent Change Net cash provided by/(used in) financing activities $1,595  $(2,306) $3,901   169%

Net cash provided by financing activities for the year ended December 31, 2024 primarily relates to cash received from the exercise of stock options of $2,370, offset by repayments made on notes payable of $457, the payments of employee tax withholdings from the net settlement of stock options and RSUs of $243, and repayments made on finance leases of $75.

Net cash used in financing activities for the year ended December 31, 2023 primarily relates to repayments made on finance leases and notes payable of $2,349, payments of employee tax withholdings related to the net settlement of stock options and RSUs of $264, dividend payments of $130, and repayments on the line of credit of $82, offset by proceeds from notes payable of $278 and cash proceeds from the exercise of stock options of $241.

OFF BALANCE SHEET ARRANGEMENTS

As of December 31