Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 1301

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 1301
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) $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 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 $2,770 2026  2,457 2027  2,202 2028  1,637 2029 and thereafter  11,462 Total $20,528 

 68Table of Contents

The following table provides a summary of changes in the carrying amounts of goodwill (in thousands):    Goodwill Balance at January 1, 2023 $9,454 Additions  - Balance at December 31, 2023  9,454 Additions  - Balance at December 31, 2024 $9,454 

9. Accrued Expenses Accrued expenses consisted of the following (in thousands):                   December 31,   2024  2023 Accrued wages and benefits $2,828  $2,884 Accrued accounts payable  1,579   1,297 Accrued sales and telecommunications taxes  1,837   1,234 Product warranty liability  32   25 Cloud computing arrangements  279   - Credit cards  117