Boxlight Q1 revenue down 18.6% to $41.2M; EBITDA improves to $3.3M

Boxlight Corp

2023-Q1 EPS reported -$0.04 revenue$41,189,000

Revenue $41.2M, down 18.6% YoY; gross margin improved 1190 bps to 36.8%.
Net loss narrowed to $2.9M ($0.04/share) from $4.9M ($0.07) YoY.
Adjusted EBITDA $3.3M, up $2.1M vs Q1 2022.
Q2 2023 guidance: revenue ~$50M, Adjusted EBITDA ~$4M.
Cash $11.3M; working capital $61.6M; debt $44.4M net.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Boxlight Corp reported the three months ended March 31, 2023 results: revenue $41.2 million, net income ($2.9) million, EPS ($0.04).

Period: the three months ended March 31, 2023
Revenue: $41.2 million
Net income: ($2.9) million
EPS: ($0.04)
Result: reported results

Exact text from the filing

Total revenues for the three months ended March 31, 2023 were $41.2 million as compared to $50.6 million for the three months ended March 31, 2022, resulting in an 18.6% decrease. The decrease in revenues was primarily due to lower sales volume across all markets and a decrease in foreign exchange rates during the first quarter of 2023 compared to the first three months of 2022. Cost of revenues for the three months ended March 31, 2023 were $26.0 million as compared to $38.0 million for the three months ended March 31, 2022, resulting in a 31.4% decrease. The decrease in cost of revenues was attributable to the overall decrease in revenues, described above, along with lower manufacturing and shipping costs in the first quarter of 2023 compared to the prior year quarter. Gross profit for the three months ended March 31, 2023 was $15.1 million as compared to $12.6 million for the three months ended March 31, 2022, an increase of $2.5 million. The gross profit margin was 36.8% for the th

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Boxlight Corp reported Q2 2023 results: revenue $50 million. Guidance initiated.

Period: Q2 2023
Revenue: $50 million
Guidance: initiated
Result: guidance update

Exact text from the filing

· Expect Q2 2023 Revenue of $50 million and Adjusted EBITDA of $4 million

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Source: SEC EDGAR

accession 0001558370-23-009086

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