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PHOENIX, ARIZONA - Crexendo Inc. (NASDAQ:CXDO), a provider of cloud communication platform software with a market capitalization of $132.5 million, has announced a new partnership with VOIPLY, a growing VoIP solutions provider. VOIPLY aims to utilize Crexendo’s NetSapiens platform to enhance its expansion capabilities and increase profitability. According to InvestingPro data, Crexendo has demonstrated strong growth with revenue increasing by 14.4% in the last twelve months, suggesting a solid foundation for this strategic partnership.
VOIPLY’s selection of the NetSapiens platform is a strategic move to leverage advanced technology and session-based pricing, which contrasts with traditional subscription models. The AI-native platform offers the flexibility to innovate and scale without the constraints of fixed pricing structures. VOIPLY’s CEO, Shea Georgetti, highlighted the platform’s potential to drive unrestricted growth and enable the creation of more personalized customer solutions. This aligns with Crexendo’s impressive gross profit margin of 62.2%, indicating efficient operations and pricing power in the market.
Jeff Korn, Chairman and CEO of Crexendo, expressed enthusiasm for the partnership, emphasizing the alignment with VOIPLY’s growth trajectory and the ability to customize their offerings. He pointed out the significance of the NetSapiens Platform in VOIPLY’s transformation, as they aim to redefine cloud communications possibilities.
The collaboration is set against the backdrop of a rapidly evolving cloud communications landscape, where businesses seek to maximize potential and drive long-term success. Crexendo’s platform, supported by Oracle Cloud infrastructure, is expected to be a critical component in VOIPLY’s ongoing expansion. InvestingPro analysis suggests the company is currently undervalued, with analysts setting price targets between $7.50 and $10.00, reflecting strong growth potential in the sector. For deeper insights into Crexendo’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
Crexendo’s cloud communications solutions support over six million end users globally and are utilized by an extensive network of subscribers. VOIPLY serves over 50,000 customers across the United States and Canada, focusing on simplicity, affordability, and customer satisfaction in their VoIP offerings.
This partnership announcement is based on a press release statement and includes forward-looking statements that are subject to risks and uncertainties. These statements are protected under the Private Securities Litigation Reform Act of 1995’s "safe harbor" provision. Crexendo does not undertake any obligation to update forward-looking statements as required by law. The company maintains a strong financial position, with InvestingPro data showing more cash than debt on its balance sheet and an "GREAT" overall financial health score of 3.08 out of 5, suggesting robust fundamentals to support its growth initiatives.
In other recent news, Crexendo Inc. reported impressive fourth-quarter 2024 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.06, exceeding the forecasted $0.05, and reported revenue of $16.2 million, above the anticipated $15.64 million. Crexendo’s revenue saw a 15% year-over-year increase, with gross margins improving from 59% to 62%. The company also announced the appointment of Todd A. Goergen as Lead Independent Director, who has been a board member since 2006, bringing extensive experience in corporate strategy and governance. Analyst firm Craig-Hallum initiated coverage on Crexendo with a Buy rating, citing the company’s strong business fundamentals and potential for market share growth in the Unified Communications as a Service (UCaaS) sector. Craig-Hallum’s analysts project a positive financial inflection point for Crexendo beyond fiscal year 2025. These developments underscore Crexendo’s strategic positioning and growth potential in the rapidly evolving UCaaS market.
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