1:23a but we preach Christ crucified,

However, we (excl.) preach about the crucified Christ.
-or-
Instead, we announce/proclaim ⌊the message⌋ that Christ died on the cross.

1:23b a stumbling block to Jews

⌊The gospel message is like⌋ a stumbling block to the Jews,
-or-
To the Jews, ⌊the message of Christ’s crucifixion⌋ is like a stumbling block.
-or-

⌊The gospel message⌋ offends the Jews.

1:23c and foolishness to Gentiles,

and Gentiles think that it is nonsense.
-or-
And non-Jews ⌊think that our (excl.) message about Christ⌋ ⌊is the talk of⌋ foolish people.

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