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Jun 30, 2024
Boxlight Q2 2024 Earnings Report
Boxlight's financial performance decreased compared to the prior year quarter due to lower sales volume across all markets. The company launched new products and implemented cost-saving initiatives.
Key Takeaways
Boxlight reported a decrease in revenue and net loss for the second quarter of 2024 compared to the prior year quarter. Despite challenging industry conditions, the company maintained market share and generated positive Adjusted EBITDA. New product launches and cost-saving initiatives were implemented to position the company for future growth.
Revenue was $38.5 million, an 18.1% decrease year-over-year.
Gross profit margin decreased to 37.7% from 37.9% in the prior year quarter.
Net loss was $1.5 million, compared to a net loss of $0.8 million in the prior year quarter.
Adjusted EBITDA decreased by $1.7 million to $3.7 million from the prior year quarter.
Forward Guidance
Boxlight anticipates future growth by aligning the organization with current demand levels, investing in new solutions, and enhancing sales capabilities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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