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Sep 30, 2023
Boxlight Q3 2023 Earnings Report
Boxlight's revenue decreased due to softer industry demand, but customer order growth improved. Company experienced a net loss due to goodwill impairment charges.
Key Takeaways
Boxlight reported a decrease in revenue for Q3 2023 compared to the previous year, primarily due to softer industry demand. The company experienced a net loss, largely due to goodwill impairment charges, but saw improved customer order growth and an improved gross profit margin.
Revenue decreased by 28% to $49.7 million.
Customer orders increased 11% to $49.4 million.
Gross profit margin improved to 36.3%.
Net loss was $17.8 million.
Boxlight
Boxlight
Forward Guidance
The company expects Q4 2023 revenue and adjusted EBITDA to remain flat with the prior year at $43 million and $3 million, respectively.