Duluth, GA – Business Wire – Boxlight Corporation (Nasdaq: BOXL) (“Boxlight” or the “Company”), a leading provider of interactive technology solutions, today announced the Company’s financial results for the fourth quarter ended December 31, 2024.
- Revenue was $24.0 million for the quarter, a decrease of 38.2% from the prior year quarter
- Gross profit margin in Q4'24 decreased by 110 basis points to 30.6% from the prior year quarter
- Net loss for the quarter was $16.7 million, inclusive of accelerated amortization of $12.3 million, compared to net loss of $17.7 million in the prior year quarter, inclusive of non-recurring impairment charges of $12.0 million.
- Net loss per basic and diluted common share was $8.65, compared to $9.35 net loss per basic and diluted common share in the prior year quarter
- Adjusted EBITDA decreased by $0.7 million to ($1.8) million from the prior year quarter
- Ended the quarter with $8.0 million in Cash, $1.3 million in Working Capital and $(12.9) million in Stockholders’ Equity
- Recently announced a unified worldwide display brand as Clevertouch by Boxlight
- Opened new showroom in Poland in August 2024
- Won 2024 Pro AV Best in Market Awards within the AV technology category for Clevertouch Edge Interactive Display
“The market for interactive flat panel technology was challenging throughout 2024, and our financial results are a direct reflection of that dynamic,” commented Dale Strang, Chief Executive Officer. “The uncertainty surrounding government spending had a significant impact on buying behavior in several of major territories. While macro effects of factors such as tariffs might impact the overall market trends, Boxlight is fortunate to have built a diversified supply chain and a distributed geographical revenue base that largely insulates our business from any direct tariff impact. We have also spent much of 2024 improving our operating efficiency by streamlining processes and aggressive expense reduction, in line with our goal of making Boxlight the highest-value provider to customers. Encouragingly, analysts project a market recovery beginning in the second half of 2025 and into 2026. Our efficiency, combined with our expansion into new markets, such as corporate signage and campus communication solutions, positions us uniquely to outperform the market as it recovers. Accordingly, we are confident that Boxlight is poised to navigate the current challenges better than others in the industry as the market rebound gains momentum.”
“Our largest and most-established market of interactive flat panel displays has begun shifting from an initial installation and optimization market to a technology refresh cycle,” continued Mr. Strang. “This dynamic will ultimately benefit Boxlight due to our existing installation base and a diverse and comprehensive solutions suite which positions us to deliver upgrades across the entire value chain. Ongoing conversations with clients indicate the potential for significant and growing demand for technology updates, and while the economic uncertainty may affect the exact timing of this refresh cycle, demand will only increase as older technology begins to lag the evolving needs of our users. In addition to the growing demand for updating IFPDs, we are seeing encouraging signs of near-term demand in the audio and campus communication sector of our business, which should benefit our 2025 results.”
