Quarterly ResultMay 5, 2026, 05:22 PM
Crexendo Q1 Revenue +29% to $20.71M; Net Income -50%; ESI Acquisition
AI Summary
Crexendo reported a significant increase in total revenue for the first quarter of 2026, reaching $20.71 million, a 29% rise year-over-year. However, net income decreased by 50% to $0.58 million, and basic earnings per share fell to $0.02. The company completed the acquisition of Estech Systems, LLC (ESI), which involved a cash outflow of $26.21 million and issuance of $7.43 million in common stock.
Key Highlights
- Acquired Estech Systems, LLC (ESI) for $26.21 million cash and $7.43 million in stock.
- Total revenue increased 29% to $20.71 million for Q1 2026.
- Net income decreased 50% to $0.58 million for Q1 2026.
- Basic EPS was $0.02 for Q1 2026, down from $0.04 in Q1 2025.
- Service revenue grew 29% to $10.56 million in Q1 2026.
- Software solutions revenue rose 12% to $7.72 million in Q1 2026.
- Product revenue surged 141% to $2.43 million in Q1 2026.
- Cash and cash equivalents decreased to $7.25 million as of March 31, 2026.