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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.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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