secwatch.observer — SEC 8-K summary
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Issuer:     Crexendo, Inc. (CXDO)
CIK:        0001075736
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001654954-23-006017
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1075736/000165495423006017/0001654954-23-006017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1075736/000165495423006017/cxdo_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-006017

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