Earnings ·
Crexendo reports Q3 revenue of $25.2M, up 44% year-over-year
CXDOCrexendo, Inc.
Crexendo reported third-quarter total revenue of $25.2 million, a 44% increase from the prior-year period, driven by a 75% surge in service revenue to $15.1 million and an 78% jump in product sales. GAAP net income was $1.1 million, or $0.03 per share, while non-GAAP net income reached $4.0 million, or $0.12 per share. Adjusted EBITDA rose to $4.0 million from $2.9 million a year ago. The company also noted it secured 5 new platform licensees in the quarter, bringing its year-to-date total to 16. Crexendo operates as a provider of cloud communication platform software and unified communications as a service (UCaaS) offerings.