Business
Boxlight Reports Second Quarter 2021 Financial Results
Revenue increased by 497% to $46.8 million Customer orders increased by 986% to $76.0 million Income before tax increased by $1.7 million to $0.3 million A
About this update from Boxlight Corporation
[{"type":"text","content":"\n\nRevenue increased by 497% to $46.8 million \n\n\nCustomer orders increased by 986% to $76.0 million \n\n\nIncome before tax increased by $1.7 million to $0.3 million\n\n\nA change in UK corporation tax effective April 2023 resulted in a $2.2 million Deferred Tax Liability adjustment and additional income tax expense in the quarter\n\n\nNet loss per common share improved by $0.04 to $(0.04)\n\n\nAdjusted EBITDA improved by $5.4 million to $5.4 million\n\n\nEnded quarter with $48.0 million of Backorders, $7.4 million Cash, $26.7 million Working Capital and $51.1 million Stockholders’ Equity\n\n\nExpect Q3 2021 Revenue of $60 million, Adjusted EBITDA greater than $7 million and positive Net Income\n\n\n LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--\nBoxlight Corporation (Nasdaq: BOXL) (“Boxlight”), a leading provider of interactive technology solutions, today announced the Company's financial results for the second quarter ended June 30, 2021.\n\nKey Financial Highlights for Q2 2021 as Compared to Q2 2020\n\n\nRevenues increased by 497% to $46.8 million\n\n\nCustomer orders increased by 986% to $76.0 million\n\n\nGross profit margin was 27.5%, as adjusted for the net effect of acquisition-related purchase accounting, increased to 29.1%, an improvement of 16 basis points\n\n\nNet loss per common share improved by $0.04 to $(0.04)\n\n\nAdjusted EBITDA improved by $5.4 million to $5.4 million\n\n\nWorking capital improved by 575% to $26.7 million\n\n\nEnded the quarter with $48.0 million of backorders, $7.4 million cash and $51.1 million stockholders’ equity\n\n\nKey Business Highlights for Q2 2021\n\n\nReceived significant customer orders of $15.8 million from D&H Distributing (U.S.), $12.5 million from Tierney (U.S.), $3.5 million from Data Projections (U.S.), $2.5 million from IDNS (U.K.), $2.4 million from ASI (Australia), $2.1 million from Interactive AV (South Africa), and $1.5 million from EET Europarts (Finland).\n\n\nPublished twelve case studies for successful technology implementations including Clelian Heights School for Exceptional Children, Greensburg, PA; Shamrock Independent School District, Shamrock,TX; The British Computer Society, London, UK; Brussels School Group, Brussels, Belgium; and Horsley Park Public School, Sydney, Australia.\n\n\nReceived recognition at the Cool Tool Finalist Awards, the InAVation Awards and Th...