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Exhibit 99.1 crexendo Ⓡ Crexendo Announces First Quarter 2021 Results PHOENIX , AZ ( Marketwired - May 11 , 2021 ) ride the cloud Crexendo , Inc. ( NASDAQ : CXDO ) , an award - winning premier provider of cloud communications , UCaaS ( Unified Communications as a Service ) , call center , collaboration services , and other cloud business services that are designed to provide enterprise - class cloud services to any size business at affordable monthly rates , today reported financial results for the first quarter ended March 31 , 2021 . First Quarter Financial highlights : • Total revenue increased 17 % year - over - year to $ 4.5 million . • Service revenue increased 19 % year - over - year to $ 4.1 million . • • GAAP net loss of $ ( 715,000 ) or a $ ( 0.04 ) loss per basic and diluted common share . Non - GAAP net income of $ 308,000 or $ 0.02 per basic and diluted common share . Financial Results for the First Quarter of 2021 Consolidated total revenue for the first quarter of 2021 increased 17 % to $ 4.5 million compared to $ 3.9 million for the first quarter of 2020 . Consolidated service revenue for the first quarter of 2021 increased 19 % to $ 4.1 million compared to $ 3.5 million for the first quarter of 2020 . • Cloud Telecommunications Segment UCaaS service revenue for the first quarter of 2021 increased 21 % to $ 4.0 million compared to $ 3.3 million for the first quarter of 2020 . • Web Services Segment service revenue for the first quarter of 2021 decreased 26 % to $ 116,000 , compared to $ 156,000 for the first quarter of 2020 . Consolidated product revenue for the first quarter of 2021 decreased 3 % to $ 368,000 compared to $ 379,000 for the first quarter of 2020 . Consolidated operating expenses for the first quarter of 2021 increased 45 % to $ 5.3 million compared to $ 3.7 million for the first quarter of 2020. During the first quarter of 2021 , acquisition related expenses accounted for $ 684,000 of the additional general and administrative expenses . The Company reported a net loss of $ ( 715,000 ) for the first quarter of 2021 , or a $ ( 0.04 ) loss per basic and diluted common share , compared to $ 140,000 net income , or $ 0.01 per basic and diluted common share for the first quarter of 2020 . Non - GAAP net income of $ 308,000 for the first quarter of 2021 , or $ 0.02 per basic and diluted common share , compared to a non - GAAP net income of $ 275,000 or $ 0.02 per basic and diluted common share for the first quarter of 2020 . EBITDA for the first quarter of 2021 decreased to $ ( 721,000 ) , compared to $ 284,000 for the first quarter of 2020. Adjusted EBITDA for the first quarter of 2021 decreased to $ 245,000 , compared to $ 389,000 for the first quarter of 2020 . Total cash , cash equivalents , and restricted cash at March 31 , 2021 was $ 16.2 million compared to $ 17.7 million at December 31 , 2020 .