{"schema_version":"secwatch.filing_event.v1","accession":"0001654954-23-002840","form_type":"8-K","ticker":"CXDO","cik":"0001075736","company_name":"Crexendo, Inc.","filed_at":"2023-03-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.790663+00:00","generated_at":"2026-06-18T02:49:06.238853+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Crexendo reports 2022 revenue up 34% to $37.6M; GAAP net loss of $35.4M incl. $32.6M goodwill impairment","bullets":["GAAP net loss of $32.6M in Q4'22 ($1.33/share) vs. loss of $602K in Q4'21.","Non-GAAP net income $2.5M in Q4'22 ($0.10/share) vs. $592K ($0.03) year ago.","Full-year 2022 GAAP net loss $35.4M; non-GAAP net income $4.1M ($0.18 basic).","Revenue grew 27% YoY to $11.4M in Q4; service revenue up 41% to $6.1M.","CEO Steve Mihaylo retired; Jeff Korn named new CEO effective with earnings."],"urls":{"canonical":"https://secwatch.observer/filing/0001654954-23-002840","json":"https://secwatch.observer/filing/0001654954-23-002840.json","markdown":"https://secwatch.observer/filing/0001654954-23-002840.md","text":"https://secwatch.observer/filing/0001654954-23-002840.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1075736/000165495423002840/0001654954-23-002840-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1075736/000165495423002840/cxdo_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T02:49:06.238853+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4382d4d0db9fdd7018808974a9b52475ecfd12f1","claim":"Crexendo, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $11.4 million, net income $(32.6) million, EPS $(1.33) loss per basic and diluted common share.","evidence_excerpt":"Financial Results for the Fourth Quarter of 2022 Consolidated total revenue for the fourth quarter of 2022 increased 27%, or $2.4 million to $11.4 million compared to $9.0 million for the fourth quarter of 2021. The Allegiant Networks business acquisition contributed $1.8 million of the increase in consolidated total revenue in the fourth quarter of 2022. Consolidated service revenue for the fourth quarter of 2022 increased 41%, or $1.8 million to $6.1 million compared to $4.3 million for the fourth quarter of 2021. The Allegiant Networks business acquisition contributed $1.5 million of the increase in consolidated service revenue in the fourth quarter of 2022. Consolidated software solutions revenue for the fourth quarter of 2022 increased 14%, or $537,000 to $4.4 million compared to $3.9 million for the fourth quarter of 2021. Consolidated product revenue for the fourth quarter of 2022 increased 16%, or $132,000 to $947,000 compared to $815,000 for the fourth quarter of 2021. The All","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1075736/000165495423002840/0001654954-23-002840-index.htm","confidence":1.0,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter ended December 31, 2022"},{"label":"Revenue","value":"$11.4 million"},{"label":"Net income","value":"$(32.6) million"},{"label":"EPS","value":"$(1.33) loss per basic and diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"eaecd9cd133e2c67cc9d66766e98166f730ebb41","claim":"Crexendo, Inc. reported the year ended December 31, 2022 results: revenue $37.6 million, net income $(35.4) million, EPS $(1.54) loss per basic and diluted common share.","evidence_excerpt":"Financial Results for the Year ended December 31, 2022 Consolidated total revenue for the year ended December 31, 2022 increased 34%, or $9.5 million to $37.6 million compared to $28.1 million for the year ended December 31, 2021. The Allegiant Networks business acquisition contributed $1.8 million of the increase in consolidated total revenue in the year ended December 31, 2022. Consolidated service revenue for the year ended December 31, 2022 increased 14%, or $2.4 million to $19.5 million compared to $17.1 million for the year ended December 31, 2021. The Allegiant Networks business acquisition contributed $1.5 million of the increase in consolidated service revenue in the year ended December 31, 2022. Consolidated software solutions revenue for the year ended December 31, 2022 increased 75%, or $6.5 million to $15.1 million compared to $8.7 million for the year ended December 31, 2021. Software solutions revenue from 2021 represents revenue from the NetSapiens business combination","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1075736/000165495423002840/0001654954-23-002840-index.htm","confidence":1.0,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2022"},{"label":"Revenue","value":"$37.6 million"},{"label":"Net income","value":"$(35.4) million"},{"label":"EPS","value":"$(1.54) loss per basic and diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}