Business
Boxlight Reports First Quarter 2023 Financial Results
Revenue was $41.2 million for the quarter, a decrease of 18.6% from the prior year quarter Net loss per basic and diluted common share improved by $0.03 to
About this update from Boxlight Corporation
[{"type":"text","content":"\n\nRevenue was $41.2 million for the quarter, a decrease of 18.6% from the prior year quarter\n\n\n\nNet loss per basic and diluted common share improved by $0.03 to ($0.04) for the quarter\n\n\n\nAdjusted EBITDA increased by $2.1 million to $3.3 million for the quarter\n\n\n\nEnded quarter with $11.3 million in Cash, $61.6 million in Working Capital and $49.8 million in Stockholders’ Equity\n\n\n\nExpect Q2 2023 Revenue of $50 million and Adjusted EBITDA of $4 million\n\n\n\n DULUTH, Ga.--(BUSINESS WIRE)--\nBoxlight Corporation (Nasdaq: BOXL) (“Boxlight” or the “Company”), a leading provider of interactive technology solutions, today announced the Company’s financial results for the first quarter ended March 31, 2023.\n\n\nKey Financial Highlights for Q1 2023 as Compared to Q1 2022\n\n\n\nRevenue decreased by 18.6% to $41.2 million\n\n\n\nCustomer orders decreased by 35.2% to $41.5 million\n\n\n\nGross profit margin improved by 1,190 basis points to 36.8%\n\n\n\nNet loss improved by $1.9 million to ($2.9) million\n\n\n\nAdjusted EBITDA improved by $2.1 million to $3.3 million\n\n\n\nNet loss per basic and diluted common share improved by $0.03 to ($0.04)\n\n\n\nEnded the quarter with $11.3 million in Cash, $61.6 million in Working Capital and $49.8 million in Stockholders’ Equity\n\n\n\nKey Business Highlights for Q1 2023\n\n\n\nReceived key U.S. customer orders of $4.4 million from Graphics Distribution, $2.2 million from Bluum, $1.6 million from Data Projections, and $1.3 million from Advanced Classroom Technologies.\n\n\n\nReceived key international customer orders of $1.4 million from Bischoff AG (Switzerland) and $1.0 million from IDNS (U.K.).\n\n\n\nReleased our CleverHub wireless presentation system, Mimio DS and Clevertouch CM Pro digital signage displays, and MimioWall/CleverWall LED displays. Our entire lineup of interactive and non-interactive displays include our CleverLive content management platform.\n\n\n\nReceived 10 Tech & Learning Awards of Excellence for Best of 2022, across multiple products and brands including Mimio Pro4, CleverLive, Robo 3D printers, EOS Education professional development, and Attention! by FrontRow. In addition, our FrontRow product Attention! won The EdTech Cool Tool Award, and our Clevertouch brand won three Best in Show awards at ISE for IMPACT Max, UX Pro 2, and LYNX Whiteboard.\n\n...