Douglas Walter Gaylor, serving as the Chief Operating Officer for Crexendo, Inc. (NASDAQ:CXDO), completed a sale of company equity on May 4, 2026. The disposition of stock was documented in an amended Form 4 filing submitted to the Securities and Exchange Commission. This regulatory update served to correct a previous disclosure that had inaccurately characterized the transaction as a purchase rather than a sale.
Gaylor disposed of a total of 10,000 shares of Crexendo common stock. The execution of these shares occurred at a weighted average price of $8.1541. Individual transaction prices within this block ranged between $8.1401 and $8.1601. The sale activity was facilitated through a Rule 10b5-1 trading plan. This specific trading arrangement was established by Mr. Gaylor on December 11, 2024, prior to the initiation of the sale activity.
Following the completion of this transaction, Mr. Gaylor maintains a direct ownership position of 261,413 shares of Crexendo common stock. The sale takes place while the company's equity is trading at $7.17. This current market price positions the stock near InvestingPro’s calculated Fair Value estimate of $7.34.
The executive stock sale coincides with recent financial disclosures from Crexendo Inc. that highlighted strong operational performance. The company reported results for the first quarter of 2026 that exceeded analyst forecasts for both earnings and revenue. Crexendo achieved a non-GAAP earnings per share figure of $0.10. This result surpassed the consensus expectation of $0.078. Revenue for the quarter reached $20.7 million, beating the anticipated figure of $19.59 million.
Market reaction to these financial results included positive analyst commentary. Needham updated its coverage of Crexendo, raising its price target from $9.00 to $12.00 while maintaining a Buy rating. The firm highlighted the company's organic telecom services revenue growth, which reached 18%. This growth rate significantly outperformed the industry benchmark of 6% to 9%. Needham attributed this outperformance to two substantial deals secured during the quarter.
Crexendo continues to demonstrate financial stability. The company maintains a financial health score of 3.18, which is categorized as "GREAT". Over the last twelve months, the company has posted revenue growth of 16%. The recent stock price movement shows a decline of $0.150, or 2.05%, closing at $7.17. In after-hours trading, the stock rose by $0.187, or 2.60%, to $7.357.