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Crexendo's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: EXE

At this time, I’m going to turn this over to John Erickson to give me the granularity and then we will open it up for questions. Jon?

Jonathan R. Erickson

Thank you, Steve. So I wanted to keep with theme of last earnings call and provide clarity on what you can expect from our revenue and operations in future quarters based upon this quarter.

This quarter was the first transition quarter without seminar sales with the exception of two days of sales in July. The quarter for the most part went as we expected. From a revenue perspective, we had approximately $10.25 million in revenue for Q3, which is broken down as follows. Crexendo Web Services revenue was $648,000, which grew at a quarter-over-quarter rate of 18% from $550,000 and a year-over-year rate of 105% from $315,000 last year. Our future rate of growth in this segment will be dependent upon our ability to hire sufficient qualified sales reps and increase the productivity of our current sales reps.

Today, we have 28 sales reps and we continue to hire an additional three to four reps per month. Crexendo Network Services revenue was $52,000, which grew at a quarter-over-quarter rate of 188% from $18,000 in the second quarter of this year. We have no revenue from Crexendo Web Services in the prior year.

As of Crexendo Web Services, this segment is primarily a direct sales segment, and the future growth will be depended upon our ability to hire sufficient number of qualified sales reps and get them up to quota as quickly as possible. We anticipate that while our direct reps will have the ability to sell both web services and network services, the sales reps will have a focus on other network services or web services.

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