Business
Boxlight Reports Third Quarter 2021 Financial Results
Revenue increased by 544% to $61.0 million Customer orders increased by 756% to $51.0 million Income before tax increased by $6.3 million to $2.1 million Net
About this update from Boxlight Corporation
[{"type":"text","content":"\n\nRevenue increased by 544% to $61.0 million \n\n\n\nCustomer orders increased by 756% to $51.0 million \n\n\n\nIncome before tax increased by $6.3 million to $2.1 million\n\n\n\nNet income per common share improved by $0.11 to $0.01\n\n\n\nAdjusted EBITDA improved by $8.0 million to $7.2 million\n\n\n\nExpect Q4 2021 Revenue of $40 million and Adjusted EBITDA greater than $2 million\n\n\n\nAnticipate Full Year 2021 Revenue of $181 million and $16 million Adjusted EBITDA\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 third quarter ended September 30, 2021.\n\nKey Financial Highlights for Q3 2021 as Compared to Q3 2020\n\n\nRevenues increased by 544% to $61.0 million\n\n\nCustomer orders increased by 756% to $51.1 million\n\n\nGross profit margin was 25.9%, an improvement of 45 basis points; Adjusted for the net effect of acquisition-related purchase accounting, increased to 27.1%, an improvement of 37 basis points on prior year\n\n\nNet Income improved by $4.9 million to $0.7 million\n\n\nNet income per common share improved by $0.11 to $0.01\n\n\nAdjusted EBITDA improved by $8.0 million to $7.2 million\n\n\nWorking capital improved by 52.4% to $32.0 million\n\n\nEnded the quarter with $33.1 million of backorders, $6.2 million cash and $54.9 million stockholders’ equity\n\n\nKey Business Highlights for Q3 2021\n\n\nReceived significant customer orders of $6.7 million from ASI (Australia), $3.1 million from D&H Distributing (U.S.), $2.1 million from Trox (U.S.), $2.9 million from Charmex (Spain), $1.7 million from NIAVAC (Northern Ireland), $1.6 million from Unit DK (Denmark) and $1.3 million from EET Europarts (Finland).\n\n\nPublished nine case studies detailing successful interactive technology, STEM and professional development implementations including Stafford Public Schools, Stafford, CT; Cape Business Centre and Stellenbosch University, South Africa; Coblonal Interior Design, The San Vicente de Paul School and Guagas Municipales, Spain; Phoenix Union High School District, Phoenix, AZ; South Allegheny School District, McKeesport, PA; and Freedom Middle School, Orlando, FL.\n\n\nReceived Tech & Learning's 2021 Best Tools for Back to School, in both Primary and Seco...