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PHOENIX, ARIZONA - Crexendo, Inc. (NASDAQ:CXDO), a prominent cloud communications company with a market capitalization of $161 million and impressive 70.77% return over the past year, is set to join the Russell 2000® Index and the broad-market Russell 3000® Index, as per the preliminary list published by FTSE Russell on May 23, 2025. The official inclusion, pending final review, is expected to be effective after the U.S. markets open on June 27, 2025. According to InvestingPro analysis, the company maintains strong financial health with a "GREAT" overall rating.
The Russell 3000 Index represents the largest 3,000 U.S. companies by market capitalization, while the Russell 2000 Index is a subset focusing on small-cap firms. Membership in these indexes, which are reconstituted annually, is determined by market capitalization rankings as of April 30, 2025. Inclusion in these benchmarks, which guide approximately $10.6 trillion in assets, is seen as a significant achievement for listed companies. The company’s solid fundamentals, including revenue growth of 13.85% and a healthy current ratio of 2.71, support this milestone.
Jeff Korn, Chairman and CEO of Crexendo, expressed that this development is a significant step in the company’s growth and a reflection of its successful long-term strategy. He anticipates that the inclusion will increase Crexendo’s visibility among investors and expand institutional awareness. The company, which supports over six million users, has been recognized as the fastest-growing UCaaS platform provider in North America by Frost & Sullivan.
Crexendo’s offerings encompass voice, video, contact center, and managed IT services, catering to a broad spectrum of business sizes. The company’s cloud communications solutions are supported by an extensive network of subscribers and direct retail offerings.
This news is based on a press release statement from Crexendo, Inc. The company cautions that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Crexendo has made no further comments on the potential impact of this inclusion on its future operations or financial performance. For deeper insights into Crexendo’s valuation and growth prospects, investors can access comprehensive analysis and 12+ additional ProTips through InvestingPro, including detailed financial health metrics and expert research reports.
In other recent news, Crexendo Inc. reported a 12% year-over-year increase in total revenue for Q1 2025, reaching $16.1 million. Despite this growth, the company missed its earnings per share (EPS) forecast, posting an actual EPS of $0.04 compared to the expected $0.06. Crexendo’s software solutions segment was a key contributor, with revenue increasing by 33% to $6.9 million. Additionally, the company announced plans to migrate to Oracle Cloud Infrastructure by the end of 2025, aiming to enhance operational efficiencies. Notably, Crexendo’s operating margin improved to 7.2% from 3.4% in the previous year, reflecting better cost management. The company’s cash and cash equivalents also rose to $21.2 million, up from $18.2 million. Crexendo is exploring strategic acquisition opportunities, as mentioned by its CEO, Jeff Corin, to further strengthen its market position. Analysts from Lake Street Capital and Northland Capital Markets have shown interest in the company’s growth strategies and financial performance.
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