Crexendo, Inc. (NASDAQ: CXDO ) Q4 2024 Earnings Call Transcript
On March 4, 2025, at 4:30 PM ET, Crexendo, Inc. (NASDAQ: CXDO ) held its Q4 2024 earnings call. The following are significant excerpts from the call, featuring the participation of key company executives and analysts.
Company Participants:
- Jeff Korn – Chief Executive Officer and Chairman
- Jon Brinton – Chief Revenue Officer
- Ron Vincent – Chief Financial Officer
- Doug Gaylor – President and Chief Operating Officer
Conference Call Participants:
- Jesse Sobelson – D Boral Capital
- Mike Latimore – Northland Capital Markets
- Eric Martinuzzi – Lake Street
- Tim Horan – Oppenheimer
- Matthew Maus – B Riley Securities
- Mike Kaufman – MK Investments
Operator: Greetings. Welcome to the Crexendo Fourth Quarter and Yearend 2024 Earnings Call.
Jeff Korn, Chief Executive Officer and Chairman:
“Good afternoon, everyone. I’m pleased to report another strong quarter for Crexendo. Our revenue grew 18% year-over-year, reaching $15.7 million. Our net income for the quarter was $1.2 million, representing a significant improvement from the same period last year. Our EBITDA for the quarter was $2.1 million, an increase of 19% year-over-year.”
Jon Brinton, Chief Revenue Officer:
“Our sales performance was robust, with new business bookings up 25% year-over-year. Our cloud-based UCaaS and contact center solutions continue to gain traction, and we are seeing increasing demand for our integrated communications and collaboration offerings.”
Ron Vincent, Chief Financial Officer:
“Our gross margins expanded by 100 basis points year-over-year to 61.8%. Our operating expenses grew at a slower rate than our revenue, leading to improved operating leverage. We ended the year with $15.6 million in cash and cash equivalents, up from $13.2 million at the end of 2023.”
Impact on Individuals:
Crexendo’s strong earnings report indicates continued growth in the UCaaS and contact center markets. This trend is likely to lead to increased competition and innovation, resulting in more options and better prices for consumers and businesses looking for communication solutions. Additionally, Crexendo’s focus on cloud-based offerings could lead to more remote work opportunities, as businesses continue to adapt to a post-pandemic work environment.
Impact on the World:
The growth of UCaaS and contact center solutions is transforming the way businesses communicate and collaborate. Crexendo’s strong earnings report is a sign that this trend is here to stay. As more businesses move to cloud-based solutions, we can expect to see increased competition and innovation in the market, leading to better prices and more features for consumers and businesses alike. Additionally, the flexibility and cost savings offered by these solutions could lead to more remote work opportunities, which could have a significant impact on the global workforce.
Conclusion:
Crexendo’s strong Q4 2024 earnings report is a testament to the growing demand for cloud-based UCaaS and contact center solutions. The company’s focus on innovation and competitive pricing is likely to continue driving growth in the market. For individuals, this trend could lead to more options and better prices for communication solutions, as well as increased opportunities for remote work. For the world, the adoption of these solutions could lead to significant changes in the way businesses communicate and collaborate, with far-reaching implications for the global workforce.
We believe that Crexendo’s continued success is a positive sign for the future of the UCaaS and contact center markets, and we look forward to seeing how the company continues to innovate and grow in the coming years.
