Business
Boxlight Reports Third Quarter 2022 Financial Results
Revenue increased by 12.7% to $68.7 million Net income per diluted common share improved by $0.02 to $0.03 Adjusted EBITDA increased by $2.7 million to $9.9
About this update from Boxlight Corporation
[{"type":"text","content":"\n\nRevenue increased by 12.7% to $68.7 million\n\n\nNet income per diluted common share improved by $0.02 to $0.03\n\n\nAdjusted EBITDA increased by $2.7 million to $9.9 million\n\n\nEnded quarter with $22.0 million in Cash, $62.3 million in Working Capital and $46.8 million in Stockholders’ Equity\n\n\nExpect Q4 2022 Revenue of $48 million and Adjusted EBITDA of $2 million\n\n\nExpect Full Year 2022 Revenue of $227 million and Adjusted EBITDA of $18 million\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 third quarter ended September 30, 2022.\n\nKey Financial Highlights for Q3 2022 as Compared to Q3 2021\n\n\nRevenue increased by 12.7% to $68.7 million\n\n\nCustomer orders decreased by 14.3% to $43.7 million\n\n\nGross profit margin improved by 470 basis points to 30.6%\n\n\nNet income improved by $2.4 million to $3.1 million\n\n\nAdjusted EBITDA improved by $2.7 million to $9.9 million\n\n\nNet income per diluted common share improved by $0.02 to $0.03\n\n\nEnded the quarter with $22.0 million in Cash, $62.3 million in Working Capital and $46.8 million in Stockholders’ equity\n\n\nKey Business Highlights for third quarter of 2022\n\n\nReceived significant customer orders of $43.7 million, including $5.9 million from Bluum (U.S.), $2.2 million from Camera Mundi (Puerto Rico), $2.1 million from Graphics Distribution (U.S.), $1.6 million from Central Technologies (U.S.), $1.4 million from D&H Distributing (U.S.), $1.5 million from Bischoff AG (Switzerland), $1.4 million from Unit DK (Denmark) and $1.1 million from IDNS (U.K.).\n\n\nUpdated our interactive displays with Android 11, improved speakers, USB-C with hardware optimization, additional screen sharing and lesson planning apps, user profiles and launch screens, and compatibility with Google Classroom cloud accounts.\n\n\nLaunched CleverHub and MimioHub – our all-in-one, wireless screen sharing solution for any display.\n\n\nRebranded ClevertouchLive as CleverLive with new features expected in 2023.\n\n\nEnhanced our FrontRow Attention! solution allowing simultaneous campus-wide broadcast of audio alerts and visual messages.\n\n\nEnhanced our MimioConnect blended learning platform to allow students to add a...