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Sep 30, 2024
Boxlight Q3 2024 Earnings Report
Boxlight's financial performance decreased due to lower sales volume, but net loss improved significantly.
Key Takeaways
Boxlight Corporation reported a decrease in revenue for Q3 2024, but net loss improved compared to the prior year. The company is positioning for future growth through brand alignment and product innovation.
Revenue decreased by 26.9% to $36.3 million.
Gross profit margin decreased to 33.8% from 36.3%.
Net loss improved to $3.1 million from $17.8 million.
Adjusted EBITDA decreased to $2.2 million from $4.9 million.
Boxlight
Boxlight
Forward Guidance
Boxlight expects further expense reductions as it aligns its organization with current demand levels to drive future profitability and is excited about the long-term outlook for the Industry.
Positive Outlook
- Brand strategy alignment
- New product innovation in audio and video
- Recent introduction of the IMPACT Max 2 interactive panel
- UNITY hardware device complements existing portfolio
- Positioning for anticipated growth in future demand
Challenges Ahead
- Challenging industry conditions
- Lower sales volume across all markets
- Lower global demand for interactive flat panel displays
- Non-compliance with the senior leverage ratio financial covenant
- Non-compliance with the borrowing base financial covenant