Boxlight Q1 2024 Earnings Report
Key Takeaways
Boxlight reported a decrease in revenue by 9.9% to $37.1 million and a net loss of $7.1 million, compared to a net loss of $2.9 million in the prior year quarter. The company has focused on streamlining operations, eliminating approximately $5 million in operating costs, with the full impact expected in future financial results. Market demand is stabilizing, and Boxlight aims to capture market share in the balance of 2024.
Revenue decreased by 9.9% year-over-year to $37.1 million.
Gross profit margin decreased by 230 basis points to 34.5% due to product mix changes.
Net loss was $7.1 million, compared to a net loss of $2.9 million in the prior year quarter.
Adjusted EBITDA decreased by $3.1 million to $0.2 million from the prior year quarter.
Boxlight
Boxlight
Forward Guidance
Boxlight expects Q2 2024 revenue of $43-$45 million and adjusted EBITDA of $2-$3 million.