CXDO - Earnings call transcript Q3 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the Crexendo Third Quarter 2020 Earnings Conference Call. All lines have been placed on a listen-only mode and the floor will be open for your questions and comments following the presentation. At this time, it is my pleasure to turn the floor over to your host for today, Mr. Steve Mihaylo. Sir, the floor is yours.

Steve Mihaylo

Jess. you, Thank everyone. Good afternoon, Mihaylo, the of Steve and Chairman Crexendo. I'm CEO welcome I to all the to Crexendo call. you conference of want XXXX third quarter

will President our General some Counsel. with Doug am will going our call and give provide today will brief update, more Safe on please quarter. Jeff I general comments will statement. Doug and business about give the and to up Jeff, After ask our we I provide read CFO; our then Ron the Vincent, Harbor a COO; call to Korn, sales the and On numbers. the Jeff the would statement? to Ron detail Safe me Gaylor, open are that, Harbor questions. you

Jeff Korn

Steve. remind want Securities opportunity the contain I harbor statements. call other will XXXX Securities this take of Private the listeners conference Act of and statements call, XXXX this Securities you, fact, within Litigation than Act meaning forward-looking to forward-looking The made this to statements forward-looking Exchange Act Yes, are such the XXXX. All of that historical for thank of in Reform safe statements a provides of statements.

discussed materially Steve. events in any to to forward-looking those to subject as explained that further statements from actual XXXX Form Crexendo ended XX-K the today. factors are result expect, or include, and are XX-Qs now to forward-looking Securities publicly other the year not on words risks Commission, undertake and uncertainties and for are statements like, should differ to and revise be of XX, in obligation does believe, any otherwise. not call the I'd fiscal Investors statements. but like Forward-looking the filed. new assumptions Form statements of back with the based could cause including turn These as as December forward-looking filings any detail Steve? anticipate, information, results such statements, and will or to a company's update are the Exchange identifying estimate, whether here limited similar expectation aware that risk

Steve Mihaylo

Thank that and country and you, hope as are our was by all throes with your Jeff. Excellence the of again systems help will and systems and we continue believe normal. a and the We quarter now. exactly of is normal. systems you phone build our and to the world for we healthy to adapt our that to work discussed and needed clear for Internet prestigious the in post-COVID make Award. a Annual our good our It what unplug as that internet from world. the another, will We new It and we to where what And that how we connection easy needed one is good are I are as was systems. to change will Telephony year-to-date receiving XXth confirmed before company. quarter the we, new COVID-XX award-winning this that be time find continuing work is to the to as trying the and phone on a pandemic. are seamlessly that COVID what you an come We become believe that a and our adapt our yours to everyone. has operate you the award-winning the our allow anywhere customers We time. adapt – But cutting-edge of uncertain to company in customers technology from again

are am to save a Crexendo. money considerable cutting-edge In switching do when you we get Ride with award-winning solution. the confirms the recognized to always to year-to-date and these judge to can better of for Our no by results are the year-to-date outside you join we is promising. consider metric operating XX% primarily by most are Not pleased service believe that their XXXX. is it instances, This even that of than that you I level otherwise due said very us Cloud. Crexendo decrease the or and UCaaS results customers organizations to technology, XXXX, solution better not get results year-to-date. company regularly the that and only some when The did we systems the Ride the use remain attrition we increased Cloud of compared amount you the have COVID. there will compared service I have revenue

business, quarter, initial uplisting a the markets in July. expenses, in with regard our in investing both substantial had increase also to listing NASDAQ This we capital in to fees the

necessary growth. the investment We future penny are important value. will the hopeful that company we and makes growth future made to carefully for we COVID-related are and but it for attrition, every the we said, shareholder of invest increase we With and start will sense our less where to see watch

This able fully We the for company. to had quarter, a have to and The we public necessary raise offering. were money. close benefits many subscribed proceeds able were

investors the company about We story. speak have new many to Crexendo able been to

while footprint stock investors and our increased increasing substantially have with our base We our float. investor

All company. of are big these benefits the for very

Our work, streak a acquisitions puts our make able very of to in additional to capital raise accretive strategic also to and with continuing organic profitability position being growth. increase us together to aggressively

on While we not work on back turning organic are we growth. our acquisitions,

will to about growth, as that excited the marketing over am been. I growth, We be are investing call most have plan. turn of focused that, Ron. and I’ll growth, There in ever future growth. sales the part the on Crexendo the and more of I With

Ron Vincent

quarter of the to $X.X million the reported revenue increased third third to of increased revenue the for prior quarter to Thanks, Service XX% Steve. compared the million, quarter for million, the XX% $X.X the prior $X.X to year. year. Consolidated $X.X quarter million compared for third for third

$X.X the the the for the million, revenue a segment increased XX% for by Service Our $X.X reported to of compared Offset segment $XX,XXX Cloud $XXX,XXX or quarter in year. prior Telecommunications XX% our quarter service decrease service for or to million Web quarter. third revenue

year. $XXX,XXX, Gross for prior third the the to XX% Our as X% decreased $XXX,XXX XX% for as prior quarter the third to compared compared $XXX,XXX quarter third to the third for or the to product margin year. revenue the XX% for quarter increased of of quarter

$XXX,XXX XX% expenses compared quarter third operating the for or quarter common basic or to $X.XX basic share prior million, the quarter million $X.XX of diluted increased for to $X.X the quarter year. consolidated third the third compared third for to and the per share the of income for income quarter of Our $XXX,XXX and diluted Net prior diluted of $XXX,XXX third year. third Non-GAAP common and quarter net for for $XXX,XXX the of $X period common to EBITDA compared for share per share, prior compared was same the basic same of the prior $XXX,XXX period prior or the year. $XXX,XXX Adjusted of of the $X.XX the EBITDA same $XXX,XXX that's for to basic per to for $X.XX period that’s and year. common the the $XXX,XXX compared for diluted year. third or the quarter

nine compared year. XX% increased of month the $XX.X that compared same million to revenue to $XX.X the to Service $XX.X of revenue period the period, consolidated $X.X for period for XX% million For period the prior same to million the for increased million nine month prior year. reported

months that of year, Web nine revenue $X.X a decrease same revenue X.X million prior compared to Telecommunications Services segment Our period. by million the for million $XX.X the to segment offset period XX% service decrease in and XX% for by month million nine – service period to or increased Cloud reported $X.X the $XX,XXX

year. both X% for XX% period for XX, the to period XXXX compared Our XX% compared share increased months to period prior same compared margin and diluted and was the same of end basic year. or to common operating for per year. nine of for nine product the Net for the $XXX,XXX month per basic $X.XX of for period September period nine income revenue $XXX,XXX or $X,XXX,XXX, month nine month common the diluted for expenses increased period XXXX same share $XX.X periods. the period, to month million to the the X,XXX,XXX prior for Gross $X.X and the the of $X.XX of Consolidated prior

per basic diluted the common million to $X.XX $X.XX for EBITDA common or diluted period share share, share $X.XX per and per basic $X.XX or prior $X.XX it’s year. the same the period the Adjusted While of share prior $XXX,XXX as for common for of million million per $X.X million $X.X compared the common of for the $X.XX prior or year. month for $X.X of period year. to the same the months nine compared to period, EBITDA nine million compared same period

We common million that about, made additional proceeds stock for and turn activities September equivalents cash activities Our consideration property comments cash, by sales million payables payable, XX of $X.X closed $X equipment. proceeds cash and was from on that, restricted cash, cash at Doug cash, September the and continued COO repayments in over utilized equivalents acquisition balance finance December I'll in at Financing it activities investing proceeds provided offset received spoke on and on million provided $XX.X a and of exercises offering restricted option equivalents and purchase stock operations. payment. from from and of it and $X.X million our issuance the leases those cash for XX. million cash. With the Operating and compared million $X our cash, and cash restricted of $XXX,XXX equivalents, was cash asset Gaylor, President to XXXX. those $XXX,XXX of XX, to Steve $XX.X

Doug Gaylor

exchange uplist completion pleased that OTC we July, in successful from SX. quarter We then in to that Thanks, with very NASDAQ were QX a our able was up exciting Ron. the of for a the with Crexendo. successfully September were accomplishment the followed to we

as customers environment. quarter nice well an recap a from in continue our overall on In a propel bookings perspective and sales nice saw an QX provide our helped straight sales to adapt see to a on COVID, update GAAP seventh the transformation as from the accelerated current has a the positive addition, digital We with see provide also QX we with to we had efforts impact and I’ll what continued us income. on quarter COVID assessment increase efforts, our quarter we'll marketing pandemic. bookings quick – finish but new to that strong the to posting increase that as from we our R&D

and to easier Our fees work free migration customers as and anytime award-winning activation to to device, looking If offering make our cloud month for businesses for they service. their continued on which waiving to anywhere, any businesses of incentives offer from the what are technology new by to today's is normal. adjust allows

Our partner increases grow channel. sales continue continues to channel in contribution and from the that to see we

us of income the $XXX,XXX in net as XX% or revenue and year-over-year our GAAP cent to quarter. allowed in share transactions resulted numerous value increase by economic from pandemic, for We larger the that the quarter. the selling our sales our they as are contract the are partners six Despite headwinds service total during increase post $X.XX unified for figures accounted a communications a encouraged bookings per sales that

telecom also is the Our support million as that $XX.X further by migration $X backlog million steam. the grew to to up cloud picking

for these we gross telecom stable that able the the quarter are we and diligent fact margin consistently our cost offering. for is margins, a gross that Our service managing healthy since the and foundation at the we the very about we're strong XX% have of structure, to quarter costs technology sustain was own our

previous Our $XX.X profitable more further well to new position hires capital new we enhance the with quarter, successful the cash to of helped marketing, the the generation, into business, our to continue combined calls, our for raise have and discussed end million our as results on generate we as R&D additional incentives at quarter offerings. lead to increase including reinvest as our sales, and

business, On media have generation. drive paid our started launched additional the marketing lead website a the SEO and successfully to search during quarter, of new social Crexendo campaigns new further and the side we

capabilities, as Crexendo and mentioned in-house this applications recognizing efforts anywhere our Telephony Excellence platform with the another remote from new with team coveted award we Our that features were the engineering work earned XXXX Steve and the the Award constantly quarter, prestigious highly capabilities in awarded us is award. texting during enhancing business Internet earlier, those

rapid changes premise-based businesses older As has rapid at we been was already have for previously legacy with a And to cloud to occurring has the the need never utilize from the prior business pandemic. communications pace world solutions to solutions post pandemic, greater. the encountered, mentioned, the our the migration

take to cloud. We that continued positioned of to migration are the marketing our well this confident products and are strategies advantage

our allow us will growth. Our focus our recent that to will sheet has balance accelerate provided capital opportunities a with as accelerate strong well on as growth, allow raise that to acquisition organic us us further

As one few cloud. UCaaS providers, migrate the and of of the well to leaders industry, are UCaaS we the in profitable help positioned to one businesses the

to over have communicate excited opportunities traction, make solutions look about stronger to revenue to deliver. been and and continue better for on to our We look now post the am Steve. are a confident back I world. and turn in our strategies we for plans that in never I as will will ahead and the ways income growth, the businesses to executing I forward position call pandemic

Steve Mihaylo

taking you, Doug we'll And you, start Ron. questions and Thank now. I think thank Josh,

Operator

Instructions] Nichols [Operator Josh from at We'll our B. take first question Riley.

Josh Nichols

for taking questions. Thanks my Yes.

Steve Mihaylo

Hi Josh, are you? how

Josh Nichols

home at point. service the some pandemic Things are this from UCaaS Good most going the bit continued great. people Working performance a little elaborate to you see of – exactly Could headwinds. are you with? XX hiring quarter growth plan like in up companies the months say ramp how to did like invest do over many the organically? how you end to much And despite next

Steve Mihaylo

it. answer happy that, going I'd could, to Doug let I'm answer I and be but to

Doug Gaylor

looking component and engineering staff. added additional a So key additional to so to hiring additional is looking add salespeople, add Josh, at we've the managers moment, channel recently obviously critical

we as employees by we help top maintain obviously with and that growth. growth, our new have line that look adding keep up So to at to growth

of So and sales sales we adding staff reps. engineering have I but perspective, From up I has back did exact the the we you side. focus And of efforts support follow been the head, don't new can a new with for customer to increase you those numbers. a office channel back of number top enhance by continued direct number the off number managers constant give on and customers, and my that

Josh Nichols

bit to talk going are on the the from. I the you revenue some of think be Today the of more growth? know in that's business? you can take line of accelerating actions bar looking And actions long problem. sales to is so little company most where how materialized top And are No a terms coming about that until those and

Doug Gaylor

there to the that see out cloud. it migrated the We approximately still businesses XX% of have

we're interest there, bars of we're the lot So still on seeing out a board. that bringing

I the quarter. during think we on board brought XX bars

work on-board coming value-added been mentioned Crexendo as statement. resellers bring work those and to demand are The anywhere solutions So type from out for customer never greater, up my to their obviously in to has home pick I base. at

lot partners recognize we think in but telecom a that the have well, I So a board new exact there, their need bringing do we a the them don't don't see partners as out brought that the we're numbers, few out quite I that offering board, XX of portfolio. a of on on of have

component to into portfolio, bars they telecom be data their opportunities, whether at their the potential offering telecom or able and business-to-business customers adding there. looking So were needs they're being to meet out customers of a to key existing

partner lot and grow to giving continue with Crexendo. forward incentives our to a them flourish channel leading and going and continues of So we're selling

Josh Nichols

that the comment vertical current but or with regional that Thanks doing in bit that are for navigated pretty off could elevated How customers Has about? space backdrop? dealing expected are well. I you've then economic little you of seeing? that of the concentration kind you and or churn has know been leveled as the your what with pandemic, seems a that it Any

Doug Gaylor

going some add been tracking a saw I'm positive. and he's in bit a little decline the on churn that, for have is quarter, we Yes, the which churn a now to color Ron because of actually

color So I'll have Ron to some that. add

Ron Vincent

right. That's

come pre-COVID average our rate So monthly – we levels. back to down churn saw churn

customer we quarter, above average had average churn of we up QX, in month per with that's X.XX% in QX, line that X.XX% at were X% month we in the think spiked I So in insurance. and third for

month X.XX% during was average for think it QX. each I

that into so further back that I the and move promising and down XXXX very decline forward. to think those we few that's to as levels gets levels one going we're So hopefully maintain back and receded to has churn levels

Josh Nichols

for or firepower, question additional able How Thanks now to color next And the as that's it think newer that good the rich new, baton. you it describe Is Do environment? do on additional a a the back current that's M&A you last hop fit? you pursue know me, queue could environment? the M&A the that few you liquid the were as happen few to that. months to and may and capital. that for find I uplifting something quarters relatively then the with I'll like think over that's strategy far take something would pass

Doug Gaylor

Yes.

more think I than had M&A are now ever the we've that probably been. prevalent discussions that they've

got I take can is looking there think think I we've if the I to partner is don't to COVID, think either to related businesses more next but look with it's opportunities for more strategy discussions level. there and somebody necessarily going, more larger that or that them an to I exit opportunities. have know

about excited do have going. announce six got could but we've Obviously, opportunities don't if we we I really the I'm there going some some the are under within out there good announcement. and So next concrete, that though that discussions anything, hope anything of discussions some can't acquisition have months, we

Steve Mihaylo

Josh, And to to little color add like I'd a that.

feel credibility the for things that up as good done just gave is is pursue we concentrated on us opened mentioned, the to opportunities and are front. it's us company. and that, more investors secure forward. going both we the and growth, both acquisition be uplifting area XXXX to and addition of in organic intend the of at some one every looking Doug But more in that One them going to

Josh Nichols

queue. for back I’ll Thanks that. hope in the

Operator

Securities. next We’ll to at Andrew Colliers go King

Steve Mihaylo

Difficulty] [Technical Andrew. afternoon, Good

Andrew King

question. taking Thanks for my

down the the margins in gross So first a that while. just product margin time to wanted bit, the a off, little to about gets first I look noticed gross at XX%

going and a idea trends forward? bit see get you that on currently the margins of through an to wanted gross more Just going little

Doug Gaylor

Yes.

we customers, we very a until so promos no result offer payments as XXXX. for So some offer good of COVID,

spreading a allocation in the resulted revenue during customers our guidance revenue over total the for through on contract the of product lower were of QX. that so period gross that revenue the installed margin that And

into range we XX% So because was we're range and ended that that the we anticipate the with from promo we ended up not that going back the through – point. the near-term, this QX XX% at in promo

Andrew King

precautions coming guys start notice any to end, prepared then can getting there through towards you Just talk wave see or meaningful revenue bit that may pick Okay, And with back to of wanted place? the little COVID of great. the more started be start the COVID even is quarter? you if to as for a another linearity up to the of people might sort in

Steve Mihaylo

Yes.

We dip a a haven't is perspective, sales seen from a which positive.

through saw we sales on. and continuing fairly consistent So the quarter that's

I by businesses, if a even wave, think or prepared for are is second that implementing solutions that out are think that for the right there I there. businesses preparing

home So I first of with their do out we and when telling us they cell there, they businesses phones or round think businesses do off talk or whatever to phones to platforms. that, a existing a lot had have might got caught forwarding guard Andrew, they are to made with

breathe Now they've had solutions. a implementing type they're chance plan and ahead, our to

I going that's forward, I be think norm. going think to the so And

I are having in today. are new a we that realize think that norm businesses to

they're going have to to so And adapt.

And second so, decisions. I going don't make to a think wait for to they're wave

continue we've they're think seen last to four or months. over the as to going three I decisions make

a scenario April that processes the people solutions. where adapt or think back – me to is and or coming businesses people with learned to the seeing businesses asked same months and – seven dealing are you’ve able we're I in today of our if in ready, willing implement our going, that waves six prepared, and sales after So, and different that were not May, question was have

Andrew King

me. Great. And one for just last one

bit, bit to you on digital that Sort promos pandemic just little the have any some of a as a into increased marketing, put but initiatives place us more touched in you offset color or sort guys of can already little headwinds? marketing give

Doug Gaylor

also campaigns, a campaigns get We've our for that. that, obviously website of our some we there just incentives partners. to social month, that out – last there. message put and launched for Yes, new paid started top we’re customers some with media excited we've about out some was search building started additional with so On

there have opportunities lead some incentive have to So the our get extra and platform of our incentives some partners before year. with nice installed out the our and sold to new end

marketing has obviously for So the move we're search long a really for on has return, tried going search in quicker to investing paid efforts quickly, a little what's tail to our long-term the but we've paid the obviously bit SEO, return, the got focus short-term. and needle SEO

we social So are we as are and seeing our our generation through response for good happening partners obviously well. our incentives, seeing with we're there customers, our lead paid seeing good some adoption campaigns good and some and media search on our campaigns,

Andrew King

Great. Appreciate it.

Steve Mihaylo

We're Jess. one, ready for the next

Operator

Khan Certainly. Eden. We'll go with next to Arham

Arham Khan

doing? everyone. are guys Hi How you

Steve Mihaylo

well. How doing are We're you?

Arham Khan

Doing great.

criteria you. come to the I where had always then than of backlog One, really And quarter? questions on you're looking, finally How in obviously for quick a get two want follow-up to Just for looking at? what is to just idea has now the most wanted ask. better kind other acquisition something this just little companies. that an the are guys of positioned You

You're flowing. – generating side looking not when company many When cash something you taste cash for acquiring generating the that cash But do. failed it. flip that's flow, is where a you're prices probably can is you're to of better not obviously flow

looking other wanted for exactly you're So look revenues. than in accretion to what I

Doug Gaylor

had by so nice Yes, backlog million right at $XX.X Sure. million. to $X increased so backlog a increase we quarter-over-quarter,

is So quarter-over-quarter our our revenue to yet, a nice Backlog haven't $X backlog that sales increasing was by before if of recognized that sold And hasn't again, contracted you calls just of that. one reiterate been opportunities. that's that million on increase. so been

also look we positive. another year-over-year, that's increase As nice that at

increased that I I think year-over-year. think by or XX% XX% we've

in a So backlog. nice year-over-year it's been increase our

for business stream looking our we're grow a for accretive we We're cost out We're nail revenue critical us. to that the with and over for there, for head, synergies are convert far grow looking acquisition obviously, you the acquisitions the can the there. on out hit can As it what platform. as strategies, where opportunities looking we

there opportunities out what lot the we're to, with lot really that opportunities nice opportunities a fits at a for. there's of look we that looking and of are are we as So talking

we those because we acquirers So easily users the relationship that are platform. under when over we customers have with there customers want our that opportunities, look want end have we want good And can the long-term that something we at to low that we long-term migrate agreements, business our that potential that we that at a churn, at want look to sure that's When churn that's acquisition we that solid to footprint our because relationship. we a make got look very in is very there's want buy little opportunities going forward. relationships

Arham Khan

Okay.

Okay, well understood. good Thank Take much. care. you guys so

Steve Mihaylo

You’re welcome.

Ron Vincent

Arham. Thanks

Operator

to go next We’ll Shaw, Investor. Ronald

Unidentified Analyst

Yes. listing and the expense quarter. biggest And Thank is you. the a mentioned little it about in the administrative I of Steve, and My some up was were the than question thought general thought would but you administrative those increases stuff, happen. more general R&D, fees I expense that and the

Steve Mihaylo

into to quarter. handle the please? Well, spilled and CapEx you this third over Ron some would that I'm Ron, we go the going let one, of But had lot but costs through of a

Ron Vincent

that offering. R&D from as so perspective, some development positions some Yes, added we our lost our UI backfill we additional product Steve. had as during and the Sure, of resources to some an some FTEs well adds add were for quarter –

cost administrative, uplisting we general did $XXX,XXX have G&A, We over associated and the the increases quarter. the and to the some On just general NASDAQ. with costs had approximately

below someone are we threshold staff. FTE So were increases, the And really then did of we add majority that wasn't those replacement that the expensed had that that purchases the replacement that we are was laptops capitalizable and a or in to quarter. It new a there lost XXXX. of during accounting new PP&E below, computers

for quarter. and additional the And period year-to-date so added that the for costs

therefore drivers, the increase was that so G&A. And the main in

Steve Mihaylo

aware may only my we background you you're about matrixes, financial. at is XX of And just or looked even company, this different so four And XX. though look or three it, at

looked kinds is additional of One lot different of and there all productivity out metrics at a metrics. of and we things the

keep the though, have to You little the But have growth. And to grow then SG&A, will we're be in a with order the up grow going grow slower to growing bit revenue. trick remember company, to to in a in as we we future.

one or I think, to have wanted comment you you Ron, make would now? other not

Ron Vincent

Doug that talked We about added or first. but R&D, we No. quarter. FTEs during three mentioned the two

Steve Mihaylo

Okay. your Does question? that answer

Unidentified Analyst

good. that’s Yes, Thank very you.

Steve Mihaylo

You bet.

Operator

go Investments. next to MK Instructions] at Kaufman [Operator We’ll Michael

Steve Mihaylo

Michael. Hi, is it How going?

Michael Kaufman

How are producing needle growth and public for team to you offering. Doug the really pandemic and light the a profitable uplisting doing, thank of want and you in and Steve? I threading doing the whole and

it think very evolve. it joint your continue will a to I'm I was performance. certainly impressive under leadership, sure

Steve Mihaylo

it, is and Well, Seeler remember just that future. Nishith, team, entire rest including in the team, the Jeff our Joe and of all very you and and and the Doug on Ron, growth profitability the name everybody very, focused our

Michael Kaufman

various Understand doing that. And of these I forces. all really great compliment job for everybody a balancing

Steve Mihaylo

you. Thank

Michael Kaufman

the end the kind just do I'm would what is at I what of headcount? And material. you think What's cosmic year? from you wondering, the current be projection? of it didn't see your any of the

Doug Gaylor

headcount, end Yes. Current the quarter. of XX at is the Michael,

two So bodies I year. of three anticipate potentially or the before adding more the maybe end

productivity. all it's the about again, So

fits, employee we that right key we productivity per the are So measure. that also metric also the constantly but looking realized is another for we

obviously, acquisitions that or grow, any any the augment in at us that to looking organization. for voids we as going and our weaknesses in growth. that we've we're And are that continue in we'll that if obviously, right folks well, look helps got as how help that So play there's to any there

Steve Mihaylo

increase look where expect our of year. exactly end don't to by would you over to headcount that I I think how going be importantly, XXXX, will XXXX. at I more going is the much, if increased. at end Michael, the of know it's have our is And at is but headcount the productivity coming where the

Michael Kaufman

some are do guess, you right other other up to potentially, of make you to bandwidth you'll picking I and the have have sure if massaging you got the everybody. thing, that teams

do want So to thing to get hire and company bigger. a is the point where you're the you you as over last confusion faster to build trying

So…

Steve Mihaylo

where aware have it going going they're additional they're considered, be But when necessary. We're any people to redundancies, of comes that. course, to be of well to to

have larger organization, going it. run more to to to a people have As you're

So into of we that take consideration. all

Doug Gaylor

at will from are tell, can say, that Michael, And I just well-versed extremely you the we quarter. multitasking, as

an So did an we same maintained profitability. uplist, and from a time the our the growth did S-X. still did of sales We things, our we quarter, and lot at

we continue that we need need make on know sure hey, and to to extremely grow hats to and what do, we we being are we're that continue this lot focused but at thing, well-versed delivering. a multi-task we to extremely So, to got of got we to where we are that, to add also to continue organization add we've got we've and wear

Michael Kaufman

balancing I act luck. remarkable in the think just it’s been involved wish hundred having guys myself of a best companies, and few I you starting a

Doug Gaylor

Thank you.

Operator

other questions conference management I holding, any or comments. for to no the now additional closing back will with And turn

Steve Mihaylo

won't is going goodwill off have, And people. it's over been take to single four, it to Okay. our going is a income, having will on on that some in We focus the will have earnings. growth and growth growth, the intangibles. that's you, to be become forward. going impact But people go the acquisition some take we as but but goal be which our the five to more quarter be add we we going said, two, just Jess. Thank With three, more is that least do GAAP of growth here every and the forward. going as profitability. that we EBITDA at allow in GAAP expect, the earnings, keep mind organic also going And to metric intangible years, to will side, writing course number impact currently And of meaningful that for

is for be the call this goodbye. out you Good look in everyone and for acquisitions, game. I Year pointed name as talking and New everyone. to of With and to happy that, want being accretive holidays to thank a to forward on Doug going you we the the day wish So

Doug Gaylor

you, Thank everybody.

Operator

participation. Mihaylo. We your that and Mr. conclude today's Thank you, call. gentlemen, appreciate will Ladies

great You may this at disconnect a have time and day.

Crexendo (CXDO) 10 Nov 202020 Q3 Earnings call transcript