Business
Boxlight Reports First Quarter 2022 Financial Results
Revenue increased by 51.4% to $50.6 million for the quarter (34% organic growth) Net loss per common share improved by $0.02 to $(0.07) for the quarter Ended
About this update from Boxlight Corporation
[{"type":"text","content":"\n\nRevenue increased by 51.4% to $50.6 million for the quarter (34% organic growth)\n\n\nNet loss per common share improved by $0.02 to $(0.07) for the quarter\n\n\nEnded quarter with $43.0 million Backorders, $11.3 million Cash, $49.6 million Working Capital and $47.5 million Stockholders’ Equity\n\n\nExpect Q2 2022 Revenue of $54 million and Adjusted EBITDA greater than $2 million\n\n\nExpect Full Year 2022 Revenue of $250 million and Adjusted EBITDA of $26 million\n\n\n DULUTH, Ga.--(BUSINESS WIRE)--\nBoxlight Corporation (Nasdaq: BOXL) (“Boxlight”), a leading provider of interactive technology solutions, today announced the Company’s financial results for the first quarter ended March 31, 2022.\n\nKey Financial Highlights for Q1 2022 as Compared to Q1 2021\n\n\nRevenue increased by 51.4% to $50.6 million (34% organic growth)\n\n\nCustomer orders increased by 34.0% to $64.0 million (23% organic growth)\n\n\nNet loss improved by $0.3 million to $(4.9) million\n\n\nAdjusted EBITDA declined by $0.4 million to $1.2 million\n\n\nNet loss per common share improved by $0.02 to $(0.07)\n\n\nWorking capital increased by 127.8% to $49.6 million\n\n\nEnded quarter with $43.0 million backorders, $11.3 million cash and $47.5 million stockholders’ equity\n\n\nKey Business Highlights for First quarter of 2022\n\n\nReceived significant customer orders of $10.9M from Bluum (U.S.), $6.0M from D&H Distributing (U.S.), $2.2M from Central Technologies (U.S.), $1.1M from Data Projections (U.S.), $1.9M from Unit DK (Denmark), $1.7M from Roche Audio Visual (U.K.), $1.7M from Camera Mundi (Puerto Rico) and $1.5M from ASI (Australia).\n\n\nAmended our $68.5 million loan facility with WhiteHawk Capital Partners extending the payment term on $8.5 million of the facility by 12 months, providing for a potential 50 basis point interest rate reduction after June 30, 2023 and extending the prepayment penalty, among other provisions.\n\n\nReceived Tech & Learning Best of 2021 Awards of Excellence in the primary and secondary categories for our MimioConnect blended learning platform, ProColor interactive display, MyStemKits STEM curriculum and professional development services by Boxlight-EOS.\n\n\nLaunched the MimioStem Mobile “Mission to Mars” experience, a van completely equipped with our award-winning STEM solutions and ProColor interactive display.\n\n\n...