Crexendo, Inc. incurred term loan of the principal amount of $5,000,000 with Wells Fargo Bank, National Association at an applicable rate ranging from 2.25% to 2.75% based on the Company’s total net maturing May 1, 2029.
“(the “Company”) entered into a Credit Agreement with Wells Fargo Bank, National Association (the “Credit Agreement”), providing for a revolving line of credit in an aggregate principal amount up to $5,000,000 (the “Line of Credit”) and a term loan in the principal amount of $5,000,000 (the “Term Loan”).”
Debt Financings
Crexendo, Inc. incurred credit facility of an aggregate principal amount up to $5,000,000 with Wells Fargo Bank, National Association at an applicable rate ranging from 2.25% to 2.75% based on the Company’s total net maturing May 1, 2029.
“On May 1, 2026, Crexendo, Inc. (the “Company”) entered into a Credit Agreement with Wells Fargo Bank, National Association (the “Credit Agreement”), providing for a revolving line of credit in an aggregate principal amount up to $5,000,000 (the “Line of Credit”) and a term loan in the principal amount of $5,000,000 (the “Term Loan”).”
Earnings Releases
Crexendo, Inc. reported first quarter ended March 31, 2026 results: revenue $20.7 million, net income $0.6 million, EPS $0.02 per basic and diluted common share.
“of all sizes, today announced financial results for the first quarter ended March 31, 2026. First Quarter Financial highlights: · Total revenue increased 29% year-over-year to $20.7 million · GAAP net income of $0.6 million, or $0.02 per basic and diluted common share. · Non-GAAP net income of $3.3 million, or $0.10 per basic and diluted common share. Financial”
Material Agreements
Crexendo, Inc. entered into Credit Agreement with Wells Fargo Bank, National Association valued at up to $5,000,000 revolving line and $5,000,000 term loan (effective 2026-05-01).
“On May 1, 2026, Crexendo, Inc. (the “Company”) entered into a Credit Agreement with Wells Fargo Bank, National Association (the “Credit Agreement”), providing for a revolving line of credit in an aggregate principal amount up to $5,000,000 (the “Line of Credit”) and a term loan in the principal amount of $5,000,000 (the “Term Loan”).”
Material Agreements
Crexendo, Inc. entered into Membership Interest Purchase Agreement with Estech Holdings, Inc. valued at $35,000,000 (effective 2026-03-01).
“On March 1, 2026, Crexendo, Inc. (the “ Company ”) entered into a Membership Interest Purchase Agreement (the “ Purchase Agreement ”) with Estech Holdings, Inc., a Texas corporation (“ Seller ”), and the individuals listed therein, pursuant to which the Company agreed to purchase from Seller one hundred percent (100%) of the issued and outstanding membership interests (the “ Purchased Interests ”) of Estech Systems, LLC, a Delaware limited liability company, and its operating subsidiary, ESI Hosted Services, LLC (collectively, the “ Target ”), subject to the terms and conditions set forth in the Purchase Agreement (the “ Acquisition ”).”
M&A Transactions
Crexendo, Inc. completed an acquisition involving Estech Holdings, Inc. for $35,000,000 (closed 2026-03-01).
“is engaged in providing cloud-based and on-premises phone systems and business communication products and services. The aggregate purchase price for the Purchased Interests is $35,000,000 (the “ Purchase Price ”), subject to customary post-closing purchase price adjustments based on working capital, indebtedness, and transaction expenses. The Purchase Price”
Anand Buch resigned as Director at Crexendo, Inc..
“On August 1, 2024, Anand Buch resigned as a director of Crexendo, Inc.”
Earnings Releases
Crexendo, Inc. reported the first quarter ended March 31, 2024 results: revenue $14.3 million, net income $434,000, or $0.02 per basic common share and $0.01 per diluted common share, EPS $0.02 per basic common share and $0.01 per diluted common share.
“size business, today announced financial results for the first quarter ended March 31, 2024. First Quarter Financial highlights: · Total revenue increased 14% year-over-year to $14.3 million · GAAP net income of $434,000, or $0.02 per basic common share and $0.01 per diluted common share · Non-GAAP net income of $1.9 million, or $0.07 per basic common share and $0.06”
Earnings Releases
Crexendo, Inc. reported fourth quarter 2023 results: net income $0.1 million, EPS $0.00 per basic and diluted common share.
“Fourth quarter revenue increased 24% year-over-year to $14.2 million.”
Earnings Releases
Crexendo, Inc. reported full year 2023 results: revenue $53.2 million, net income $(0.4) million, EPS $(0.01) loss per basic and diluted common share.
“Total revenue for the year increased 42% year-over-year to $53.2 million.”
Steven Mihaylo changed role as Chairman Emeritus at Crexendo, Inc..
“Mr. Mihaylo will remain on the Board as a member of the Board of Directors and as 'Chairman Emeritus'.”
Jeffrey G. Korn was named as Executive Chairman at Crexendo, Inc..
“On January 22, 2024, the Board of Directors of Crexendo, Inc. (the “ Company ”) appointed Jeffrey G. Korn as a Class I director of the Board of Directors of the Company and named him as Executive Chairman.”
Jeffrey G. Korn was appointed as Class I Director at Crexendo, Inc..
“On January 22, 2024, the Board of Directors of Crexendo, Inc. (the “ Company ”) appointed Jeffrey G. Korn as a Class I director of the Board of Directors of the Company and named him as Executive Chairman.”
Earnings Releases
Crexendo, Inc. reported the nine months ended September 30, 2023 results: revenue $39.0 million, net income $(0.4) million, EPS $(0.02) loss per basic and diluted common share.
“Financial Results for the nine months ended September 30, 2023 (in thousands, except per share data) Consolidated total revenue for the nine months ended September 30, 2023 increased 49%, or $12.9 million, to $39.0 million compared to $26.1 million for the nine months ended September 30, 2022.”
Earnings Releases
Crexendo, Inc. reported the third quarter ended September 30, 2023 results: revenue $13.9 million, net income $1.7 million, EPS $0.06 per diluted common share.
“business, today announced financial results for the third quarter ended September 30, 2023. Third Quarter Financial highlights: · Total revenue increased 52% year-over-year to $13.9 million · GAAP net income of $1.7 million, or $0.07 per basic common share and $0.06 per diluted common share · Non-GAAP net income of $3.3 million, or $0.13 per basic common share and”
Material Agreements
Crexendo, Inc. entered into Agreement with NECTAR 52ND 2023, LLC valued at Four Million Dollars (US) ($4,000,000.00) (effective 2023-08-09).
“On August 9, 2023, Crexendo, Inc. (the “Company”) through its wholly owned subsidiary Crexendo Business Solutions, Inc. sold the Company’s office building (“Building”) located at 1615 S 52nd St. Tempe, AZ 85281 to NECTAR 52ND 2023, LLC (the “Buyer”)”
Earnings Releases
Crexendo, Inc. reported six months ended June 30, 2023 results: revenue $25,161, net income net loss of $(2,127), EPS $(0.08) loss per basic and diluted common share.
“Consolidated total revenue for the six months ended June 30, 2023 increased 48%, or $8,157, to $25,161 compared to $17,004 for the six months ended June 30, 2022.”
Earnings Releases
Crexendo, Inc. reported second quarter ended June 30, 2023 results: revenue $12,670, net income loss of $(545), EPS $(0.02) per basic and diluted common share.
“Financial Results for the Second Quarter of 2023 (in thousands, except per share data) Consolidated total revenue for the second quarter of 2023 increased 43%, or $3,824, to $12,670 compared to $8,846 for the second quarter of 2022. Consolidated service revenue for the second quarter of 2023 increased 60%, or $2,752, to $7,308 compared to $4,556 for the”
Shareholder Votes
Crexendo, Inc. shareholders approved Ratify the Appointment of Independent Registered Public Accounting Firm at the 2023-06-27 meeting.
“Proposal II – Ratify the Appointment of Independent Registered Public Accounting Firm: The Company's shareholders approved a proposal to appoint Urish Popeck & Co., LLC as our independent registered public accounting firm for our year ending December 31, 2023. Votes For Votes Against Abstain 17,065,536.284 120,635.000 239,108.000”
Shareholder Votes
Crexendo, Inc. shareholders approved Election of Directors at the 2023-06-27 meeting.
“Proposal I - Election of Directors : The Company's stockholders approved the election of Steven G. Mihaylo, David Williams, Todd Goergen, and L. Jasmine Kim, each for a term of two years, expiring at our annual meeting of stockholders to be held during 2025 and the election of Kevin Jackson for a term of one year, expiring at our annual meeting of stockholders to be held during 2024, or until his or her successor shall have been duly chosen and qualified, or until his or her earlier death, resignation, retirement, disqualification or removal. Votes For Votes Withheld Steven G. Mihaylo 16,284,899.284 882,008.000 David Williams 16,787,441.284 379,466.000 Todd Goergen 16,688,052.284 478,855.000 Kevin Jackson 16,751,262.284 415,645.000 L. Jasmine Kim 16,727,887.284 439,020.000”
Material Agreements
Crexendo, Inc. entered into Purchase and Sale Agreement with Nectar Equities, LLC valued at Four Million Fifty Thousand Dollars (US) ($4,050,000.00) (effective 2023-05-16).
“On May 16, 2023, Crexendo, Inc. (the “Company”) entered into a Purchase and Sale Agreement (the “Agreement”) with Nectar Equities, LLC (the “Buyer”) for the sale of the Company’s office building located at 1615 S 52nd St Tempe, AZ 85281”
Earnings Releases
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.
“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”
Earnings Releases
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.
“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”
Jeffrey G. Korn was appointed as Chief Executive Officer at Crexendo, Inc..
“The Company also announced the appointment of Jeffrey G. Korn as Chief Executive Officer of the Company.”
Steven G. Mihaylo retired as Executive Chairman at Crexendo, Inc..
“On March 14, 2023, Crexendo, Inc. (the “ Company ”) announced the retirement of Steven G. Mihaylo as Chief Executive Officer. Mr. Mihaylo will retain his position as Executive Chairman of the Board of Directors.”
Earnings Releases
Crexendo, Inc. reported third quarter ended September 30, 2022 results: revenue $9.1 million, net income $(696,000), EPS $(0.03).
“Today, the Company reported financial results for the third quarter ended September 30, 2022. Third Quarter Financial highlights: · Total revenue increased 3% year-over-year to $9.1 million. · GAAP net loss of $(696,000) or a $(0.03) loss per basic and diluted common share.”
M&A Transactions
Crexendo, Inc. completed an acquisition involving Allegiant Networks, LLC (closed 2022-11-01).
“On November 1, 2022, Crexendo completed the acquisition referenced above.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.