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PHOENIX, ARIZONA - Crexendo®, Inc. (NASDAQ:CXDO), a provider of cloud communication platform software and unified communications as a service (UCaaS), announced today the appointment of Todd A. Goergen as Lead Independent Director of its Board of Directors. The company, currently valued at $165 million, has demonstrated strong momentum with a 31% price return over the past six months and robust revenue growth of 14% in the last twelve months.
Goergen has been part of Crexendo’s Board since 2006 and brings to the role a wealth of experience in corporate strategy, governance, and capital markets. His new position will see him enhancing corporate oversight and fostering strong governance practices while supporting the company’s strategic growth initiatives. According to InvestingPro analysis, Crexendo maintains a "GREAT" financial health score, with particularly strong metrics in growth and cash flow management.
Jeff Korn, CEO and Chairman of Crexendo, highlighted Goergen’s extensive experience in corporate leadership and his understanding of market dynamics as crucial for his new role. Korn expressed confidence that Goergen’s guidance will be vital for the company’s ongoing expansion and value creation for shareholders.
In his response, Goergen expressed his honor in accepting the role and his anticipation to contribute to Crexendo’s mission and vision. He emphasized the company’s strong position for continued success.
Crexendo’s commitment to innovation, customer service, and strategic execution remains at the forefront as it serves businesses and service providers worldwide with its UCaaS offerings. The company supports over five million end users globally through its network and direct retail services. With a strong balance sheet showing more cash than debt and expected net income growth this year, Crexendo appears well-positioned for continued expansion. For detailed financial analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks including Crexendo.
This news is based on a press release statement and contains forward-looking statements, including expectations of Goergen’s impact on the company and its strategic growth. These statements are forward-looking and actual results may differ. Crexendo has not updated these forward-looking statements beyond the date of the press release.
In other recent news, Crexendo Inc. reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.06, exceeding the forecast of $0.05, and reported revenue of $16.2 million, which was higher than the anticipated $15.64 million. This marks a 15% year-over-year increase in revenue, highlighting Crexendo’s strong financial performance. Additionally, the company has maintained its streak of GAAP profitability for six consecutive quarters. Crexendo’s strategic investments in AI and cloud-based communication solutions have contributed to its robust growth, positioning it as a leader in the Unified Communications as a Service (UCaaS) market.
The company also announced the launch of new AI-powered software features, which are expected to drive further growth. Analysts have noted Crexendo’s potential for continued expansion, particularly in international markets, as it explores opportunities for acquisitions in the AI sector. Crexendo’s successful migration of 10 licensees from Microsoft Metaswitch and Cisco BroadSoft platforms in 2024 indicates substantial growth opportunities, with approximately 2,000 potential licensees identified. The company’s cash and cash equivalents nearly doubled to $18.2 million, providing a solid foundation for future investments. Crexendo’s achievements have been recognized by leading firms, with accolades such as Frost and Sullivan’s 2024 North American Strategy Leadership Award and inclusion in Deloitte’s 2024 Technology FAST 500 report.
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