Duluth, GA – Business Wire – March 13, 2024 – 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 and full year ended December 31, 2023.
Financial and Operational Highlights:
Revenue was $38.8 million for the quarter, a decrease of 9.3% from the prior year quarter
Gross profit margin in Q4’23 decreased by 190 basis points to 31.7% due to non-recurring charges
Net loss was $17.7 million, inclusive of non-recurring impairment charges of $12.0 million, compared to net loss of $2.0 million in the prior year quarter
Net loss per basic and diluted common share was $1.87, compared to $0.25 net loss per basic and diluted common share in the prior year quarter
Adjusted EBITDA decreased by $3.7 million to ($1.1) million from the prior year quarter
Ended the quarter with $17.3 million in Cash, $54.1 million in Working Capital and $16.8 million in Stockholders’ Equity
Expect Q1 2024 Revenue and adjusted EBITDA at $34 million and ($3.0) million, respectively Q4’23 Sales orders slightly decreased 3% to $38.3 million
Announced the opening of our Central European Hub Showroom in the UK
Management Commentary
“My first few weeks have confirmed my perception that Boxlight is comprised of high-quality assets, exceptional technology, and talented, committed employees,” commented Dale Strang, Boxlight Chief Executive Officer. “With that said, our customers’ needs, as well as the overall dynamics of our market are evolving, and strategically aligning to those changes requires that we make substantial changes to our business. My goal is to empower our team, eliminate duplicative efforts and focus our commercial messages, with the goal of quickly establishing a sustainable platform for profitable growth.”
