WEB NEWS Research
Crexendo Inc. (NASDAQ:CXDO) ($5.27; $142.8M market cap), announced that Akabis has selected Crexendo's NetSapiens Platform as its next-generation solution to replace their Microsoft Metaswitch platform following Microsoft's recent end-of-life (EOL) announcement for its Max-UC solution.
"Our NetSapiens Platform has quickly emerged as the top choice for service providers migrating from Metaswitch MaX UC, evidenced by Crexendo adding over 100,000 users each month. This remarkable growth is a testament to our focus on integrating AI at the core of our platform, enabling service providers to deliver exceptional cloud communications solutions to their clients. Together, we are set to redefine what is possible in telecommunications. As the third largest telecom software platform provider with the best technology and service in the industry we should be in a position to continue to add more and larger logos. The strength of our platform, people and our community are an unbeatable combination"
We feel this is significant in that it shows that CXDO is capturing UCaaS business abandoned by Microsoft.
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Crexendo Inc. (NASDAQ:CXDO) ($5.99; $157.4M market cap) announced that Crexendo's Award Winning NetSapiens Platform has been chosen to power Reinvent's next generation white label UC&C (Unified Communications & Collaboration) offering to its community of reseller partners.
“We are pleased to have been selected to be the driving force behind Reinvent's Next-Gen UC&C services. We're not just providing tools; we're offering a transformative suite of resources that empowers reseller partners to navigate and excel in the dynamic and ever-changing world of cloud communications. This collaboration is a testament to our commitment to being at the forefront of innovation," added Jeff Korn, CEO of Crexendo, Inc. "The synergy between Crexendo and Reinvent is more than a collaboration; it is a shared commitment to shaping the future of communications. Together, we are architects of change, paving the way for reseller partners to survive and thrive in a market that demands adaptability and innovation."
Reinvent Telecom, a division of Saddleback Communications, operates a private-label communications platform that empowers its white-label wholesale and co-branded partners to transform their businesses into next-generation cloud-based communications service providers.
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Crexendo Inc. (NASDAQ:CXDO) ($6.33; $164.7M market cap) announced
Together, they announced the launch of its new POTS (Plain old Telephone Service) Replacement platform powered by TELCLOUD.
“We're excited to introduce our new POTS Replacement powered by TELCLOUD to our community of over 220 platform partners., Local Exchange Carriers are currently imposing exorbitant price hikes on traditional dial tone, reaching up to a staggering 1000%, the market's appetite for a seamless and cost-effective alternative is growing exponentially. Our POTS Replacement offering emerges as a beacon of affordability and dependability, providing our partners with a strategic advantage in delivering advanced solutions to their clients."
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Crexendo Inc. (NASDAQ:CXDO) ($3.90; $101.5M market cap), a provider of cloud communications, UCaaS (Unified Communications as a Service) and other cloud business services announced rapid growth continues and that its cloud communication platform now supports over 4 million end users, up from 1.7 million in June 2021.
“We have seen a significant increase in the adoption of our offerings, and we only expect this trend to grow from here," said Crexendo CEO Jeff Korn. "We have continued to ramp up business development for new licensees as well as support for our growing community of licensees while also increasing the quality and capabilities of our platform. This very important metric, which follows our very strong third quarter earnings report, gives me substantial confidence in our strategic growth plan going into 2024. With the recent sale of our building and the subsequent elimination of debt on our balance sheet, the continued development of our platform, together with our strong organic growth as well as GAAP profitability, I believe our company is executing well on all fronts. We look forward to what the year ahead has in store, and we expect more of the same from a growth standpoint."
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Crexendo Inc. (NASDAQ:CXDO) ($1.75; $45.4M market cap), a provider of cloud communications, UCaaS (Unified Communications as a Service) and other cloud business services, announced Q2 2023 results:
Sales of $12.7 million vs $8.8 million in the prior year ahead of estimates of $11.8 million
Non-GAAP EPS of $0.04 vs $0.02 in prior year and in line with analyst EPS estimate of $0.01
“Our diligent cost management efforts are translating to strong improvements in profitability, including a return to cash flow positivity in the quarter. We also recently finalized the terms of the sale of our property in Tempe, which effectively will remove almost all of our outstanding debt and enables us to build on our already-strong cash position with an additional $2 million added to our balance sheet."
“In the second quarter we saw a record number of installs in our Telecommunication Services segment, fueled by significant partner and agent sales contributions. We also had a strong performance internationally, which bodes well for future growth in this key area of focus. Our master dealer channel is continuing to perform nicely as we're seeing strong contributions from our resellers creating more enterprise sales opportunities. Looking ahead, we will continue to judiciously invest in delivering innovative features to drive greater customer satisfaction as well as demand from the largely underpenetrated UCaaS market. I am very excited by our results, and I am confident that our strong performance will continue."
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Crexendo Inc. (NASDAQ:CXDO) ($3.02; $67.7M market cap), a provider of cloud communications, UCaaS (Unified Communications as a Service) and other cloud business services, saw the CEO continue to buy stock on the open market. On the heels of a nearly $1 million purchase earlier this week, two more Form 4’s were filed yesterday showing CEO Steven Mihaylo added 25,000 shares on Wednesday at an average price of $3.09 and 30,991 yesterday at average price of $3.05.
Steven now owns about 49.4% of the company.
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Crexendo Inc. (NASDAQ:CXDO) ($2.49; $55.4M market cap), a provider of cloud communications, UCaaS (Unified Communications as a Service) and other cloud business services announced Q1 2022 results:
Sales of $8.2 million vs $4.5 million in the prior year
EPS of $0.02 vs $0.02
“These numbers were particularly impressive considering that we faced headwinds in the first quarter, which do appear to be subsiding. We noted an increase in customers that contracted or closed their businesses toward the end of the year. In December it appeared that both customers and potential customers were spending less and delaying certain capital expenditures due to the uncertainty surrounding the economy, inflation, and supply chain issues. Product revenue was down quarter over quarter since the deferred purchasing decisions affected the sale of newer desktop devices. We believe these conditions are improving and we expect those effects to be short lived. We believe it is not a matter of if but when before most companies move to the cloud and Crexendo is particularly suited to benefit from that migration.”
My focus will be to continue to work on improving margins, manage expenses and improve our sales and marketing programs, all of which will benefit the Company, its customers, its employees and most importantly its shareholders. I continue to be highly confident that we will continue to grow the business both organically as well as through additional accretive acquisitions and stand behind my earlier expectation of growing the business this year by 40% to 50%. This is a very exciting time for Crexendo."
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CREXENDO INC (NASDAQ:CXDO) ($6.00; $129.3M market cap), a provider of cloud communications, UCaaS (Unified Communications as a Service) and other cloud business services sees CEO Steven Mihaylo buy 6000 shares on the open market at average price of $5.87.
We would like to see other insiders step up and join the CEO with open market purchases.
The company recently closed a major acquisition and is very bullish on its future opportunities. You can see our full coverage including a recent podclip of our fireside chat with COO Doug Gaylor here .
In related news, the company is presenting at the Colliers Institutional Investor Conference today, and has issued an 8k with the new investor presentation .
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PodClip
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Today, our friends at Little Grapevine are welcoming Crexendo Inc. (NASDAQ:CXDO) President and COO Doug Gaylor back for a fireside style Zoom call, with Maj Soueidan as the moderator. Although we know this is late notice, it appears that Little Grapevine will be able to accommodate anyone from GeoInvesting's premium base to attend the meeting. As these events are usually recorded, the replay will be available shortly afterwards on Crexendo's profile page at littlegrapevine.com .
Since CXDO is a select long of GeoInvesting's, we are eager to hear what Mr. Gaylor will have to say about current developments at the company.
Hope to see you there. Details are below, and at this link where you can find all upcoming virtual events occurring at GeoInvesting.
Date/Time: 6/15/2021, 1:00 PM Eastern Standard Time
Zoom Meeting Link https://us02web.zoom.us/j/83044752902?pwd=Vm1QZjN3QmQvOXN4bGtTcUh3YlE1QT09
Meeting ID: 830 4475 2902
Dial by your location https://us02web.zoom.us/u/kdD684KBU7
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CREXENDO INC (NASDAQ:CXDO) ($5.29; $97.4M market cap), a provider of cloud communications, UCaaS (Unified Communications as a Service) and other cloud business services, announced Q1 2021 results:
Sales of $4.5 million vs $3.9 million in the prior year and slightly ahead of analyst estimates of $4.4
Non-GAAP EPS of $0.02 vs $0.02 in the prior year, ahead of analyst estimates of $0.01
I continue to be very excited about the progress we are making and the direction we are headed. While I would have preferred to continue our streak of profitability, we fully expected to operate at a loss this quarter due to the expenses associated with the NetSapiens merger...
...We will, as a joint team, continue to operate the business effectively and efficiently. We carefully monitor how we spend shareholder money, but we will do what is necessary to make our soon to be combined company the best in the industry. I could not be more excited about our future...
...I am thrilled about our merger with NetSapiens! Our management teams continue to work together closely, and we will hit the ground running after the merger is completed. Our combined synergies, offerings and experiences will prove to be a substantial benefit to all of our customers and our shareholders.
