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Boxlight Q1 2025 Earnings Report
Boxlight Corporation reported a decrease in revenue and an increase in net loss for Q1 2025, primarily due to lower sales volume and changes in working capital management.
Key Takeaways
Boxlight Corporation experienced a significant decrease in revenue and an increase in net loss for the three months ended March 31, 2025, compared to the same period in 2024. The company's net loss was $3.243 million, and total revenues were $22.423 million. The decrease in revenue was primarily due to lower sales volume across all markets and competitive industry pricing.
Total revenues decreased by 39.5% to $22.423 million in Q1 2025 from $37.093 million in Q1 2024.
Net loss for Q1 2025 was $3.243 million, an improvement from a net loss of $7.089 million in Q1 2024.
Gross profit margin increased to 35.9% in Q1 2025 from 34.5% in Q1 2024, driven by product mix differences.
The company reported a negative Adjusted EBITDA of $25 thousand in Q1 2025, compared to a positive Adjusted EBITDA of $179 thousand in Q1 2024.
Boxlight
Boxlight
Boxlight Revenue by Segment
Boxlight Revenue by Geographic Location
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
The Company's ability to continue as a going concern is dependent on achieving positive cash flow from operations, obtaining waivers or other relief under the Credit Agreement for future non-compliance, or refinancing its Credit Agreement on more favorable terms. The company is actively working to refinance its debt.
Positive Outlook
- Actively working to refinance existing debt with new lenders.
- Good working relationship with current banking partner.
- Implemented or initiated appropriate plans regarding refinancing procedures.
- Company's strategic plan aims to improve financial flexibility and reduce cost of capital.
- Initiatives to reduce operating expenses across all cost groups.
Challenges Ahead
- Substantial doubt about the ability to continue as a going concern within one year.
- Non-compliance with Senior Leverage Ratio financial covenant and borrowing base covenant.
- Term Loan of $39.6 million matures on December 31, 2025, requiring refinancing within nine months.
- No assurance that the Company's compliance plan will be accepted by Nasdaq or that compliance with Rule 5550(b) will be achieved.
- Uncertainty surrounding global supply chains, markets, and conflicts may reduce access to funding and increase cost of capital.
Revenue & Expenses
Visualization of income flow from segment revenue to net income