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Crexendo, Inc. (CXDO) stock

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NASDAQ: CXDO Nasdaq Integrated Telecommunication Services

C Fundamentals grade

Crexendo, Inc. is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$8.1

Cash-flow model

Base case. Range ~$6.3–$10 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 41% above it.

Price used: $5.74, November 3, 2026

Crexendo, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 8 selling1 purchase and 58 sales by directors and officers, last 12 monthsInsider trades
  • Funds81 adding, 37 cuttingOf 22 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Crexendo files

Where Crexendo stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $81m, up 25.5% on a year earlier, faster than the 16.3% growth a quarter earlier. Free-cash-flow margin rose to 14.3% from 9.7% a year earlier. The diluted share count is up 6.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $7.87 a share.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Crexendo, Inc.'s trailing-twelve-month revenue grew 25.5% year on year, with a free-cash-flow margin of 14.3%. Where it stands out: long-term debt as % of assets of 0.1% ranks 2 of 13 integrated telecommunication services companies we cover. Where it lags: stock pay as % of revenue of 3.8% ranks 9 of 9 integrated telecommunication services companies we cover.

Our discounted-cash-flow model values the business at ~$8.1 per share in the base case (~$6.3–$10 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 83.8% while net income grew 40.5%: a 43pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $5.67 is 43% below our value per share of $8.
  • Fast growth. Revenue grew 25.5% over the last 12 months, against a median of 3.5% for integrated telecommunication services companies we cover.
  • Growth speeding up. The growth rate is 9.2 points higher than a quarter earlier.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 6.7% in a year.
  • High earnings multiple. The shares trade at 43 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 59% and a beta of 2.3 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 3.8% ranks 9 of 9 integrated telecommunication services companies we cover (median 0.8%).
  • Below peers: net margin. Net margin of 5.3% ranks 13 of 16 integrated telecommunication services companies we cover (median 10.7%).

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$0.12 against an average estimate of $0.10: beat by 24.1%
Revenue
$25m, up 48.9% on a year earlier
Share reaction
-8.2% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 3, 2026; average EPS estimate $0.09

Crexendo's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week-2.7%
  • 1 month-3.0%
  • This year-12.4%
  • 1 year-17.8%
  • 5 years+6.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$80.9M
Operating margin
4.9%
Net margin
5.3%
EPS (TTM, diluted)
$0.13

Growth

Revenue growth
+25.5%
Change in growth rate
+9.2 pts
Share count change
+6.7%

Cash

Free cash flow (TTM)
$11.6M
FCF margin
14.3%
Stock pay % of revenue
3.8%

Earnings

Last results
August 4, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Announcement
  4. Results
  5. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Crexendo, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 13.6% a year of cash-flow growth for five years.That is slower than the 23.6% a year revenue growth Crexendo has delivered.

  • Priced in13.6%
  • Last 12 months25.5%
  • 3 years a year21.0%
  • 5 years a year23.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($5.74, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$8.1
Price used
$5.74close November 3, 2026
Implied change
▲ +41%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Crexendo, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($5.6M, FY2026 Q2 TTM), growing 25.5% and 18.1% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$6.3–~$10 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Crexendo, Inc.'s free cash flow after stock-based pay ( $5.6M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Crexendo, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.18 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$8.1 ~$6.3–$10 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.5 ~$3.8–$6.9 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$7.2 ~$5.5–$8.1 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Crexendo, Inc. with Integrated Telecommunication Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ +45%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $3$4$5$6$8$11
8.5% $2$3$4$5$6$8
10% $2$2$3$4$5$6

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$1.98$4.21$6.86$4.95$1.89$4.85$5.23$6.47$5.67
Market value$28m$65m$120m$100m$43m$126m$157m$205m$186m
+ Net debt (− = net cash)−$2m−$4m−$16m−$4m−$2m−$9m−$17m−$31m−$13m
Enterprise value$27m$61m$104m$97m$41m$117m$140m$174m$172m
Multiples
Price / sales 2.4x4.5x7.3x3.6x1.2x2.4x2.6x3.0x2.3x
Price / earnings —57.5x15.1x———93.6x40.4x43.2x
Price / free cash flow —————36.9x25.1x22.1x16.1x
EV / EBITDA —49.9x83.1x0.4x——65.8x35.4x41.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

23 /100

Weak moat

How hard Crexendo's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -60.7% of total assets over 5 years.

  • Pricing power 17 / 20

    Gross margin has been a median 62.0%, moving by 5.5 percentage points (standard deviation) across 7 years.

  • Durability 0 / 20

    Operating margin has been a median 2.8%; its worst year was -81.5%.

  • Cash conversion 6 / 20

    Free cash flow was positive in 4 of 8 years, at a median 1.2% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 103.1% over five years; stock-based pay has been a median 5.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (28 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.41 +14% $97m +43%
Next $0.44 +6% $111m +14%

Next year's EPS estimate has moved −15.8% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.4% on 90 days ago. In the last 30 days, 1 analyst raised Crexendo, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Crexendo, Inc., last 90 days
$0.40 $0.45 $0.50 $0.55 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.42 Current fiscal year, 60 days ago: $0.42 Current fiscal year, 30 days ago: $0.41 Current fiscal year, 7 days ago: $0.41 Current fiscal year, Now: $0.41 $0.41 Next fiscal year, 90 days ago: $0.52 Next fiscal year, 60 days ago: $0.52 Next fiscal year, 30 days ago: $0.44 Next fiscal year, 7 days ago: $0.44 Next fiscal year, Now: $0.44 $0.44

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.42$0.52
60 days ago $0.42$0.52
30 days ago $0.41$0.44
7 days ago $0.41$0.44
Now $0.41$0.44

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.10 $0.12 +24.1%
Mar 2026 $0.08 $0.10 +28.2%
Dec 2025 $0.08 $0.09 +17.4%
Sept 2025 $0.07 $0.10 +37.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026

No numeric guidance in Crexendo, Inc.'s latest earnings release (filed August 4, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Crexendo, Inc.'s revenue by +25.5% next year and +18.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+28.4%, weight 65%) and the company's own record (+20.0%, weight 35%) . How the weights are set.

Analyst recommendations

6 analysts, Oct 2026
Buy6100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026156
  2. Sep 2026156
  3. Aug 2026156

Counts of recommendations published by analysts covering Crexendo, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.0%
of tradable shares
Days to cover
3.78
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
37%
of shares
Held by insiders
34.1%
of shares
Employees
187
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −12.4%

$6.47 on October 31, 2025 to $5.67

ThenNowEffect
Revenue (last 12 months) $64m $81m +25.5%
Net margin 4.7% 5.3% +12.0%
P/E multiple 65.0x 43.2x −33.5%
Share count 31m 33m −6.3%

Biggest factor: p/e multiple.

Last 3 years +254.4%

$1.60 on November 3, 2023 to $5.67

ThenNowEffect
Revenue (last 12 months) $46m $81m +77.0%
P/S multiple 0.9x 2.3x +165.6%
Share count 25m 33m −24.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CXDO−28%−62%+156%+8%+24%−12%
Industry peers (median)−3%−36%+3%+13%+8%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CXDO25%42%58%33%67%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CXDO−40%−66%−37%−60%−43%−48%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since March 27, 2018: 89% from August 7, 2020 to April 26, 2023. Getting back needed a 773% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.47 – $10.47
From 52-week high
−45.8%
vs 50-day average
−3.7%
vs 200-day average
−17.6%
Volatility (1 year)
59%
Beta vs S&P 500
2.26

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±8.5%
After a week
7 up, 5 down
typical move ±10.5%
After a month
4 up, 8 down
typical move ±17.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −8.2% +1.6% −10.9% −17.9%
May 5, 2026 +19.2% +2.2% +12.1% +9.2%
March 3, 2026 +0.9% −0.2% +6.6% −3.0%
November 4, 2025 −2.0% −0.8% +7.2% −3.9%
August 5, 2025 +1.5% +0.3% −2.2% +10.6%
May 6, 2025 −0.4% −0.4% +10.2% +4.6%
March 4, 2025 +21.2% −0.1% 0.0% −14.9%
November 6, 2024 −9.8% +3.3% −9.8% −11.7%
August 14, 2024 −0.6% +2.0% +4.0% −9.6%
May 7, 2024 −17.1% +0.1% −16.2% −33.5%
March 5, 2024 +8.6% −0.5% +0.9% −4.8%
November 9, 2023 +12.9% +0.8% +45.9% +88.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Crexendo, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Crexendo, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Crexendo, Inc.
$50M $60M $70M $80M $90M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $50.5M Revenue (TTM), FY23 Q4: $53.2M Revenue (TTM), FY24 Q1: $55M Revenue (TTM), FY24 Q2: $57M Revenue (TTM), FY24 Q3: $58.8M Revenue (TTM), FY24 Q4: $60.8M Revenue (TTM), FY25 Q1: $62.6M Revenue (TTM), FY25 Q2: $64.5M Revenue (TTM), FY25 Q3: $66.3M Revenue (TTM), FY25 Q4: $68.2M Revenue (TTM), FY26 Q1: $72.8M Revenue (TTM), FY26 Q2: $80.9M $80.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $50.5M
FY23 Q4 $53.2M
FY24 Q1 $55M
FY24 Q2 $57M
FY24 Q3 $58.8M
FY24 Q4 $60.8M
FY25 Q1 $62.6M
FY25 Q2 $64.5M
FY25 Q3 $66.3M
FY25 Q4 $68.2M
FY26 Q1 $72.8M
FY26 Q2 $80.9M
Revenue growth, TTM YoY Crexendo, Inc.
0% 20% 40% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 43.8% Revenue growth, TTM YoY, FY23 Q4: 41.7% Revenue growth, TTM YoY, FY24 Q1: 31.3% Revenue growth, TTM YoY, FY24 Q2: 24.7% Revenue growth, TTM YoY, FY24 Q3: 16.4% Revenue growth, TTM YoY, FY24 Q4: 14.4% Revenue growth, TTM YoY, FY25 Q1: 13.8% Revenue growth, TTM YoY, FY25 Q2: 13.1% Revenue growth, TTM YoY, FY25 Q3: 12.9% Revenue growth, TTM YoY, FY25 Q4: 12.0% Revenue growth, TTM YoY, FY26 Q1: 16.3% Revenue growth, TTM YoY, FY26 Q2: 25.5% 25.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 43.8%
FY23 Q4 41.7%
FY24 Q1 31.3%
FY24 Q2 24.7%
FY24 Q3 16.4%
FY24 Q4 14.4%
FY25 Q1 13.8%
FY25 Q2 13.1%
FY25 Q3 12.9%
FY25 Q4 12.0%
FY26 Q1 16.3%
FY26 Q2 25.5%
Operating margin (TTM) Crexendo, Inc.
-80% -60% -40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -72.0% Operating margin (TTM), FY23 Q4: -3.2% Operating margin (TTM), FY24 Q1: 0.7% Operating margin (TTM), FY24 Q2: 2.6% Operating margin (TTM), FY24 Q3: 2.1% Operating margin (TTM), FY24 Q4: 3.0% Operating margin (TTM), FY25 Q1: 4.0% Operating margin (TTM), FY25 Q2: 4.7% Operating margin (TTM), FY25 Q3: 6.3% Operating margin (TTM), FY25 Q4: 6.9% Operating margin (TTM), FY26 Q1: 5.5% Operating margin (TTM), FY26 Q2: 4.9% 4.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -72.0%
FY23 Q4 -3.2%
FY24 Q1 0.7%
FY24 Q2 2.6%
FY24 Q3 2.1%
FY24 Q4 3.0%
FY25 Q1 4.0%
FY25 Q2 4.7%
FY25 Q3 6.3%
FY25 Q4 6.9%
FY26 Q1 5.5%
FY26 Q2 4.9%
FCF margin (TTM) Crexendo, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 2.6% FCF margin (TTM), FY23 Q4: 3.7% FCF margin (TTM), FY24 Q1: 6.1% FCF margin (TTM), FY24 Q2: 9.1% FCF margin (TTM), FY24 Q3: 11.4% FCF margin (TTM), FY24 Q4: 10.3% FCF margin (TTM), FY25 Q1: 12.2% FCF margin (TTM), FY25 Q2: 9.7% FCF margin (TTM), FY25 Q3: 13.7% FCF margin (TTM), FY25 Q4: 13.6% FCF margin (TTM), FY26 Q1: 13.9% FCF margin (TTM), FY26 Q2: 14.3% 14.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 2.6%
FY23 Q4 3.7%
FY24 Q1 6.1%
FY24 Q2 9.1%
FY24 Q3 11.4%
FY24 Q4 10.3%
FY25 Q1 12.2%
FY25 Q2 9.7%
FY25 Q3 13.7%
FY25 Q4 13.6%
FY26 Q1 13.9%
FY26 Q2 14.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Crexendo took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $68.2M
  2. Other income $681,000 · 1.0%
  3. Research and development $5.7M · 8.4%
  4. Selling, general and admin $32.5M · 47.7%
  5. Other operating costs $25.3M · 37.1%
  6. Operating income $4.7M · 6.9%
  7. Net income $5.1M · 7.4%

Shares of revenue. Source: Crexendo's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 66 48 17 10 8 8 9 10 12 14 16 28 38 53 61 68 81
Gross profit 44 30 12 6 4 4 5 — — 10 11 — — — — — —
EBITDA −5 −5 −5 −5 −6 −5 −3 −1 −0 1 1 232 −37 −1 2 5 4
Operating income −7 −6 −6 −6 −7 −5 −3 −1 −0 1 1 −3 −37 −2 2 5 4
Net income −2 −6 −4 −5 −6 −5 −3 −1 −0 1 8 −2 −35 −0 2 5 4
Diluted EPS −$0.20 −$0.59 −$0.37 −$0.46 −$0.57 −$0.35 −$0.21 −$0.07 −$0.02 $0.07 $0.46 −$0.12 −$1.54 −$0.01 $0.06 $0.16 $0.13
Growth (year on year)
Revenue — −27.0% −64.3% −39.8% −26.5% +3.0% +16.6% +11.7% +16.9% +21.2% +13.5% +71.4% +33.7% +41.7% +14.4% +12.0% +25.5%
EBITDA — — — — — — — — — — +1.6% +>999% −116.0% — — +130.7% +26.2%
Operating income — — — — — — — — — — −12.7% −383.6% — — — +157.1% +30.5%
Net income — — — — — — — — — — +597.1% −130.8% — — — +202.4% +40.5%
Diluted EPS — — — — — — — — — — +557.1% −126.1% — — — +166.7% +31.7%
Margins
Gross margin 66.9% 63.1% 70.3% 60.4% 52.8% 54.3% 60.2% — — 69.9% 69.8% — — — — — —
EBITDA margin −7.9% −9.5% −27.6% −44.5% −78.2% −58.4% −28.7% −6.2% −1.0% 8.5% 7.6% 826.5% −98.7% −2.4% 3.5% 7.2% 5.1%
Operating margin −10.0% −12.3% −35.6% −55.6% −86.9% −61.9% −30.3% −7.2% −1.7% 7.9% 6.0% −10.0% −99.6% −3.2% 3.0% 6.9% 4.9%
Net margin −3.5% −13.0% −23.0% −48.1% −84.0% −58.0% −30.6% −9.1% −1.9% 7.9% 48.5% −8.7% −94.3% −0.7% 2.8% 7.4% 5.3%
Free-cash-flow margin −0.1% −4.8% −2.6% −52.1% — — — — — — — −3.9% −1.9% 6.4% 10.3% 13.6% 14.3%
Cash flow
Cash from operations 0 −2 −0 −5 −4 −3 −1 0 0 2 1 −1 −0 3 6 9 12
Capital spending 0 1 0 0 — — — — — — — 0 0 0 0 0 0
Free cash flow −0 −2 −0 −5 — — — — — — — −1 −1 3 6 9 12
Stock-based pay — 1 1 1 1 1 1 1 0 0 1 2 4 4 3 3 3
Free cash flow after stock pay — −3 −1 −6 — — — — — — — −3 −5 −0 3 6 8
Balance sheet
Cash 14 9 7 3 3 1 0 1 2 4 18 7 5 10 18 31 18
Total debt 0 0 0 0 0 1 1 0 0 0 2 4 3 1 1 0 5
Net debt (negative = net cash) −14 −9 −7 −3 −3 −0 1 −1 −2 −4 −16 −4 −2 −9 −17 −31 −13
Diluted shares 11m 11m 11m 11m 11m 13m 13m 14m 14m 16m 17m 20m 23m 26m 30m 32m 33m
Returned to shareholders
Dividends 1 1 1 0 — — — — — — — 0 0 0 0 — —
Buybacks 0 1 — — — — — — — — — — — — — — —
Total returned 1 2 1 0 — — — — — — — 0 0 0 0 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $101m
Short-term assets $35mLonger-term assets $66m
What it owes, and who funded it · $101m
Short-term liabilities $17mLonger-term liabilities $6mShareholders' equity $78m
  • Short-term assets cover short-term liabilities $35m of assets due within a year against $17m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $35m short-term assets against $6m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Crexendo, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+6.7%
year over year
R&D spending
7.6%
of revenue
Days sales outstanding
28 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in integrated telecommunication services
Last 12 months unless stated CXDO SHEN IQST ATNI KYIV IDT Median
Revenue, last 12 months $81m $371m $394m $734m $1.2bn $1.3bn $4.6bn
Revenue growth, last 12 months 25.5% 5.5% 39.3% 2.0% 25.9% 5.4% 3.3%
Revenue growth, 3-year average 21.0% 13.7% 54.2% −0.6% — 1.6% 1.9%
Revenue growth, latest quarter 48.9% 4.6% 51.1% 1.8% — 7.1% 5.3%
Gross margin 62.0% 67.0% 2.7% — — 38.3% 61.2%
Operating margin 4.9% −3.9% −1.3% 37.7% 23.7% 9.3% 20.3%
Operating margin, 3-year average 4.0% −6.3% −0.7% 13.0% — 7.6% 16.7%
Net margin 5.3% −10.2% −2.2% 22.5% 10.7% 6.7% 10.5%
Cash from operations / revenue 14.3% 28.4% −1.0% 17.4% 48.2% 7.0% 28.5%
Free-cash-flow margin 14.3% −58.5% −1.0% 5.6% 26.9% 5.2% 13.9%
Free-cash-flow margin, 3-year average 11.0% −67.8% −1.1% 2.5% — 6.3% 10.2%
Stock pay / revenue 3.8% 2.8% 0.2% 1.0% — 0.8% 0.8%
Change in share count 6.7% 1.0% 208.2% 1.1% 4.4% −1.1% 0.5%

Median of all 16 companies we cover in integrated telecommunication services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

16 integrated telecommunication services companies
Measure Company Peer median Rank
Revenue growth Growth 25.5% 3.5% 3 of 16
Change in growth rate Growth +9.2pp +0.9pp 3 of 16
Operating margin Profitability 4.9% 20.3% 12 of 15
Net margin Profitability 5.3% 10.7% 13 of 16
Free-cash-flow margin Cash generation 14.3% 13.8% 6 of 15
Stock pay as % of revenue Cash generation 3.8% 0.8% 9 of 9
Long-term debt as % of assets Balance sheet 0.1% 26.0% 2 of 13
Change in share count Balance sheet 6.7% 0.0% 14 of 15
Days sales outstanding Balance sheet 28 days 33 days 6 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Reportable $68.2M ▲ 12.0%
Cloud Telecommunications $38.5M ▲ 2.8%
Cloud Telecommunications Service $38.5M ▲ 2.8%
Software Solutions $29.7M ▲ 26.9%
Software Solution $29.7M ▲ 26.9%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue YoY
Services $33.8M ▲ 6.1%
Products $4.7M ▼ 15.9%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United State $63.9M 93.7% ▲ 11.4%
International $4.3M 6.3% ▲ 22.2%

From Crexendo, Inc.'s 10-K filed March 3, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$97.3M
Institutions reporting
126
Shares held vs prior quarter
▲ 29.5%
Positions opened / closed
31 / 11

Top buyers and sellers, Q2 2026: 81 institutions bought and 37 sold ; the biggest buyer was Goldman Sachs Group Inc (+405K shares) and the biggest seller Creative Planning (−314K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $8M 1.1M 8.2% ▲ 24.0%
Royce & Associates LP $7.6M 1.0M 7.8% ▲ 46.4%
Vanguard Capital Management LLC $6.1M 817K 6.3% ▲ 9.7%
Essex Investment Management Co LLC $5.3M 711K 5.5% ▼ 4.3%
Acadian Asset Management LLC $4.1M 547K 4.2% ▲ 7.1%
Goldman Sachs Group Inc $3.7M 492K 3.8% ▲ 466.3%
Geode Capital Management, LLC $3.4M 461K 3.5% ▲ 3.8%
Renaissance Technologies LLC $3.4M 451K 3.5% ▲ 30.1%
Dimensional Fund Advisors LP $3.3M 445K 3.4% ▲ 16.9%
Qube Research & Technologies Ltd $3.2M 424K 3.3% ▲ 507.1%
Arrowstreet Capital, Limited Partnership $3.1M 411K 3.2% ▲ 1.0%
Pembroke Management, Ltd $2.7M 366K 2.8% ▲ 87.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Crexendo, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $81,500 1 trade by 1 insider, last 12 months Insider sales History → $26.4M 58 trades by 8 insiders · 13% under pre-set plans
Net ▼ $26.4M net selling
Insider Date Trade Shares Price Value
Wang David Tzat-Kin Chief Technology Officer August 27, 2026 Sell 25,000 $6.50 $162,500
Wang David Tzat-Kin Chief Technology Officer June 15, 2026 Sell 25,000 $7.49 $187,250
Wang David Tzat-Kin Chief Technology Officer June 12, 2026 Sell 25,000 $7.39 $184,750
Gaylor Douglas Walter Chief Operating Officer June 2, 2026 Sell 5,000 $10.35 $51,750
Mihaylo Steven G Director June 2, 2026 Sell 514,352 $10.18 $5.2M
Wang David Tzat-Kin Chief Technology Officer June 2, 2026 Sell 25,000 $10.01 $250,250
Brinton Jon Chief Revenue Officer June 1, 2026 Sell pre-set plan 20,000 $10.69 $213,800
Gaylor Douglas Walter Chief Operating Officer June 1, 2026 Sell 20,000 $9.99 $199,800
Vincent Ron Chief Financial Officer June 1, 2026 Sell 40,000 $10.06 $402,400
Vincent Ron Chief Financial Officer June 1, 2026 Sell 50,000 $10.01 $500,500
Mihaylo Steven G Director June 1, 2026 Sell 1,141,965 $10.46 $11.9M
Brinton Jon Chief Revenue Officer May 29, 2026 Sell pre-set plan 10,000 $9.99 $99,900

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Crexendo, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Purchase, $1,001 - $15,000, traded April 8, 2025, filed May 8, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • March 3, 2026
  • November 4, 2025
  • August 5, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Crexendo, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Crexendo, Inc. in brief

What does Crexendo, Inc. do?
Crexendo, Inc. is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.
What is Crexendo, Inc.'s stock ticker?
Crexendo, Inc. trades under the ticker CXDO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Crexendo, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Crexendo, Inc. reported revenue of $80.9M, 25.5% higher than a year earlier, according to its SEC filings.
What is Crexendo, Inc.'s free cash flow?
Crexendo, Inc.'s free-cash-flow margin is 14.3% of revenue over the trailing twelve months, ranking 6 of the 15 integrated telecommunication services companies we cover.
What is Crexendo, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Crexendo, Inc.'s free cash flow after stock-based pay gives ~$8.1 per share in the base case, and ~$6.3–$10 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Crexendo, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Royce & Associates LP and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Crexendo, Inc.'s market cap?
On November 2, 2026, Crexendo, Inc.'s market capitalisation was about $186M, with a price-to-earnings ratio of 43.2 and net debt of -$13.4M. Market figures come from third-party market data and may be delayed.
Who are Crexendo, Inc.'s competitors?
In our Integrated Telecommunication Services peer group, the companies closest to Crexendo, Inc. are Shenandoah Telecommunications Co, Iqstel Inc, ATN International, Inc., Kyivstar Group Ltd. and IDT Corp. The side-by-side comparison below sets their revenue, margins and growth against Crexendo, Inc.'s.
Are insiders buying or selling Crexendo, Inc. stock?
Over the last 12 months, Crexendo, Inc.'s directors and officers reported 1 open-market purchases and 58 sales on Form 4. The insider trading page charts every trade.