Crexendo, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 05:16 pm EST
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Crexendo, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 13.87 million compared to USD 9.11 million a year ago. Net income was USD 1.7 million compared to net loss of USD 0.696 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to diluted loss per share from continuing operations of USD 0.03 a year ago.
For the nine months, revenue was USD 39.04 million compared to USD 26.11 million a year ago. Net loss was USD 0.423 million compared to USD 2.81 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.13 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.13 a year ago.
Crexendo, Inc. is a provider of cloud communication platforms and services, video collaboration and managed information technology (IT) services. The Company operates through two segments: Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications Services segment transmits calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud. Its Cloud Telecommunications Service segment offering includes hardware, software, and IP or cloud technology over Internet connection. Its Cloud Telecommunication Service offers a variety of essential and advanced features for businesses of all sizes. The Companyâs Software Solutions segment provides a comprehensive suite of unified communications (UC), video conferencing, collaboration and contact center solutions. Its software solutions segment offers software licenses, software maintenance support and professional services.