Crexendo Q1 revenue up 53% to $12.5M; non-GAAP net income $625k

Crexendo, Inc.

2023-Q1 EPS reported -$0.06 revenue$12,491,000

Total revenue $12.5M (+53% YoY); service revenue $7.2M (+63%), software solutions $4.1M (+26%).
GAAP net loss $(1.6)M ($0.06 loss/share); non-GAAP net income $625k ($0.02/share).
Adjusted EBITDA $749k vs. $302k in Q1 2022; cash and equivalents $3.7M at March 31, 2023.
Allegiant Networks acquisition contributed $3.1M to revenue and $2.6M to service revenue in the quarter.
CEO cites strong organic growth in Software Solutions and focus on profitability and expense cuts.

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