secwatch.observer — SEC 8-K summary
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Issuer:     Crexendo, Inc. (CXDO)
CIK:        0001075736
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001654954-23-002840
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crexendo reports 2022 revenue up 34% to $37.6M; GAAP net loss of $35.4M incl. $32.6M goodwill impairment
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1075736/000165495423002840/0001654954-23-002840-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1075736/000165495423002840/cxdo_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-002840

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer