Overview

* Crexendo ( CXDO ) Q2 revenue rises 13% yr/yr, beating analyst expectations

* Non-GAAP net income for Q2 beats estimates, reaching $2.9 mln

* Adjusted EBITDA for Q2 exceeds expectations

Outlook

* Crexendo ( CXDO ) aims to accelerate telecom services revenue through profitable sales initiatives

* Company plans to expand Oracle Cloud Infrastructure presence for future growth

* Crexendo ( CXDO ) remains focused on strategic, accretive acquisitions to enhance growth

* Company well-positioned for growth with robust cash position of $23.5 mln

Result Drivers

* SOFTWARE SOLUTIONS - 31% growth in software solutions revenue drives overall revenue increase, per CEO Jeff Korn

* STRATEGIC INITIATIVES - Closing international data centers and expanding Oracle Cloud Infrastructure presence to maintain cost discipline

* CASH POSITION - Robust cash position of $23.5 mln supports continued growth and strategic investments

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $16.60 $16.20

Revenue mln mln (6

Analysts

)

Q2 Beat $2.90 $1.66

Adjusted mln mln (6

Net Analysts

Income )

Q2 Net $1.20

Income mln

Q2 Beat $2.80 $1.87

Adjusted mln mln (6

EBITDA Analysts

)

Q2 $2 mln

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the it services & consulting peer group is "buy"

* Wall Street's median 12-month price target for Crexendo Inc ( CXDO ) is $8.00, about 26.6% above its August 4 closing price of $5.87

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)