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Jun 30, 2023
Boxlight Q2 2023 Earnings Report
Revenue decreased but gross profit margin and adjusted EBITDA increased compared to the prior year quarter.
Key Takeaways
Boxlight reported a decrease in revenue for Q2 2023 compared to Q2 2022, but improved its gross profit margin and adjusted EBITDA. The company ended the quarter with a solid cash position and working capital.
Revenue decreased by 21.1% to $47.1 million.
Gross profit margin improved to 37.9%.
Net loss per basic and diluted common share decreased by $0.08 to ($0.12).
Adjusted EBITDA increased to $5.4 million.
Forward Guidance
The company expects Q3 2023 Revenue of $60 million and Adjusted EBITDA of $10 million.
Positive Outlook
- Expect Q3 2023 Revenue of $60 million
- Expect Adjusted EBITDA of $10 million
- Launched PowerLine, a low-voltage power supply
- Introduced MyBot, an upgraded education robotics system
- Expect growth in customer orders for the second half of the year
Challenges Ahead
- Demand remained softer than expected during the second quarter
- Revenue decreased by 21.1% compared to the prior year quarter
- Net loss increased by $0.8 million
- Customer orders decreased by 37%
- Lower sales volume across all markets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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