Business
Boxlight Reports Second Quarter 2023 Financial Results
Revenue was $47.1 million for the quarter, a decrease of 21.1% from the prior year quarter Net loss per basic and diluted common share decreased by $0.08 to
About this update from Boxlight Corporation
[{"type":"text","content":"\n\nRevenue was $47.1 million for the quarter, a decrease of 21.1% from the prior year quarter\n\n\n\nNet loss per basic and diluted common share decreased by $0.08 to ($0.12) from the prior year quarter\n\n\n\nAdjusted EBITDA increased by $0.2 million to $5.4 million from the prior year quarter\n\n\n\nEnded quarter with $15.6 million in Cash, $64.8 million in Working Capital and $50.9 million in Stockholders’ Equity\n\n\n\nExpect Q3 2023 Revenue of $60 million and Adjusted EBITDA of $10 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 second quarter ended June 30, 2023.\n\n\nKey Financial Highlights for Q2 2023 as Compared to Q2 2022\n\n\n\nRevenue decreased by 21.1% to $47.1 million\n\n\n\nCustomer orders decreased by 37% to $51.2 million\n\n\n\nGross profit margin improved by 970 basis points to 37.9%\n\n\n\nNet loss increased by $0.8 million to ($0.8) million\n\n\n\nAdjusted EBITDA increased by $0.2 million to $5.4 million\n\n\n\nNet loss per basic and diluted common share decreased by $0.08 to ($0.12)\n\n\n\nEnded the quarter with $15.6 million in Cash, $64.8 million in Working Capital and $50.9 million in Stockholders’ Equity\n\n\n\nKey Business Highlights for Q2 2023\n\n\n\nReceived key U.S. customer orders of $7.2 million from Bluum, $6.7 million from Graphics Distribution, $2.8 million from Data Projections, and $1.8 million from Camera Mundi.\n\n\n\nReceived key international customer orders of $2.6 million from ASI Solutions (Australia) and $1.0 million from Avion Interactive (Finland).\n\n\n\nAchieved Education Services Partner Specialization in the Google Cloud Partner Advantage program for our EOS professional services group.\n\n\n\nLaunched PowerLine, a low-voltage power supply, and the MyFrontRow app for intuitive control of classroom audio from interactive displays for our ezRoom audio system.\n\n\n\nIntroduced MyBot, an upgraded education robotics system as part of our STEM product line.\n\n\n\nIntroduced the Clevertouch IMPACT Lux, a Google EDLA-certified interactive display at ISTE Live 2023 and expect to commence shipments during the third quarter of 2023.\n\n\n\nReceived five Tech & Learning Awards of Excellence for Best of 2023 acr...