Crexendo Inc (CXDO) Share Price

Crexendo Growth Surges with Four and a Half Million Users on its Software Platform With Platform Growing At Nearly Twice The Industry Average

Tue, Apr 16, 2024, 9:00 AM EDT

PHOENIX, AZ / ACCESSWIRE / April 16, 2024 / Crexendo, Inc. (NASDAQ:CXDO) ("Crexendo" or the "Company"), an award-winning premier provider of cloud communication platforms and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business, today announced that its cloud communication platform now supports over four and a half million end users* globally.

When Crexendo acquired NetSapiens in June of 2021 there were approximately 1.7 million users on the platform, and since then, platform use has increased over 150%. With additional new licensees deploying Crexendo's NetSapiens platform combined with strong growth from their existing base of over 220 licensees, there are now over 4.5 million users utilizing the Crexendo NetSapiens software platform for their communication needs.

"We continue to see very strong adoption of our offerings, and we see no end in sight," said Crexendo CEO and Chairman Jeff Korn. "We are very excited by our continued strong growth. This announcement confirms for us the findings by Frost & Sullivan's who in their recent 2024 report awarded us the Competitive Strategy Leadership Award for Excellence in Cloud Communications as well as confirming that we are the fastest growing UCaaS platform in the industry. We believe this growth is tied to our disruptive business model, our superior cloud offerings and our talented team that truly are the best in the industry. The efforts of our team are further supported by G2.com's Spring 2024 Reports that recently highlighted Crexendo's outstanding customer service with 19 1st place rankings based on real user feedback."

Korn added "This very important metric, which follows our very strong third and fourth quarter earnings reports. Our significant momentum continues to give me great confidence in our strategic growth plan this year and beyond. I am convinced that our company is executing well on all fronts, and we are very excited about our future."

*Users are defined as UCaaS application user seats including individual user licenses as well as applications such as conference bridges, call queues, and SIP trunks.

About Crexendo

Crexendo, Inc. is an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business. Our solutions currently support over four and a half million end users globally.

Safe Harbor Statement

This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "will" and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include Crexendo (i) continuing to see very strong adoption of our offerings with no end in sight; (ii) being very excited by the continued strong growth; (iii) believing this announcement confirms that the results of the Excellence in Cloud Communications award and that the Company is the fastest growing platform in the industry; (iv) believing this growth is tied to the disruptive model and are the best in the industry people; (v) believing this is very important metric and providing confidence of the strategic growth plan this year and beyond and (vi) being convinced that the company is executing well on all fronts and being very excited about the future.

For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2023, quarterly Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.

Company Contact:

Crexendo, Inc.
Doug Gaylor
President and Chief Operating Officer
602-732-7990
dgaylor@crexendo.com

SOURCE: Crexendo, Inc.
https://finance.yahoo.com/news/crexendo-growth-surges-four-half-130000129.html?.tsrc=fin-srch

Presenting at AI & Technology Hybrid Investor Conference:
Starts at 2:26

Any chance this runs?

Steve sucks

This will be bought out some day

Weird volume

sooooo...about that proxy statement...

i'm back in, nerds

adios

Well, bye

Glad i dumped at 7.5 and 8

and with 14k volume we're right back where we started, lmao.

lmao what a joke. Might as well go red.

not sure why this halts at 15% when pos game stop ran to 60%+.

That halt messed up the run

wtf...just halted....

what is going on...Steve? Acquisition?

lmao someone always bid whacks last second

yo steve your stock sucks!

turd sandwich

lovely

Is CXDO comparable to DTGI? The businesses seem to be identical, but valuations are way off. Anybody know this space well who can shed some insight?

lookin' good!

CXDO moved to the Nasdaq from the OTC.:

https://otce.finra.org/otce/dailyList?viewType=Deletions

July 8th we go to NASDAQ!

Looks like the nasdaq uplist is moving along. The shares are being registered on nasdaq today.

2.3 million float

what a treat...not sure why some people dumped so low...lol.

This company is actually making a profit. That's rare in this industry. No secondary offerings like some other companies are doing. They also make their own software and phones! They'll be able to expand and grow at a faster pace utilizing their profits!

Another good volume day

Once this goes to nasdaq this thing's gonna pop. Think of Five9 or Ring Central.

funny how I have an order at 5.52 because someone else had one at 5.5 and somehow some other 5.52 orders are getting filled instead of mine even though they don't show up on l2.

Wow, I didn't think it would rebound like this!

??????

Here fishy fishy

lol going going gooone

P/e is too high now

Ya...it's been discovered

Wow that volume!

how did or do you know?

looks like this is going up tomorrow

ngl i'm hoping for $3.5

That's good, it really hasn't moved since I bought some. I'm hoping for some of that slow, steady growth like it had last year!

looks like accumulation

That 2k at 4.3. Lucky.

nasdaq

It’s cool, I was expecting more after the ER, but I bought some this morning and plan on keeping it. When they talk about uplisting, are they talking about NASDAQ or NYSE?

"2019 was a breakout year for Crexendo with strong GAAP income"
-Douglas Walter Gaylor, Crexendo, Inc. - COO & President [6]

Our cash, cash equivalents and restricted cash, as Steve mentioned, increased to $4.3 million compared to $1.9 million at the end of 2018
-Ronald Vincent, Crexendo, Inc. - CFO [5]

[Wyatt]. So we are getting our name out there. So the OTC recognize us in the OTC Best 50. We were actually #13 on the OTCQX list for 2019. So we realized that we don't have a lot of volume in the stock. And so getting our message out there is critical for us. So we've been telling the story for quite some time now and getting more and more following. We've got more investors on our conference call today than we've ever had.

STEVE:

Yes. We're currently working through the uplisting process, the application process and gathering all the data, submitting that. So after we get all the applications submitted, it'll be out of our hands. And as far as a review, but that typically takes 4 to 5 weeks review process from what I'm told.

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Steven G. Mihaylo, Crexendo, Inc. - Chairman of the Board & CEO [52]

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And by the way, one of the reasons on the uplisting is now we qualify for it. It's not as if we're uplisting the uplist. We're uplisting because we qualify for it.

Well, we've been going to conferences for quite some time now, and the problem has been that we're on the OTCQX. I think once we uplist, that will help out with the ability for folks like you and anybody else that wants to trade in our stock.

On the conference call

ya it be like that sometimes.