Boxlight Q1 revenue down 9.9% to $37.1M; net loss widens to $7.1M; guides Q2 rev $43-45M

Boxlight Corp

2024-Q1 EPS reported -$0.76 revenue$37,093,000

Revenue $37.1M vs $41.2M YoY; net loss per share ($0.76) vs ($0.35).
Gross margin fell 230 bps to 34.5%; adjusted EBITDA plunged to $0.2M from $3.3M.
Q2 2024 guidance: revenue $43-$45M, adjusted EBITDA $2-$3M.
Post-quarter lenders provided $2M bridge loan with option for $3M more in June.
Company cut ~$5M in annual operating costs; incurred $0.9M severance in Q1.

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 0.9

Boxlight Corp reported the first quarter ended March 31, 2024 results: revenue $37.1 million, net income Net loss was $7.1 million, EPS ($0.76). Guidance initiated.

Period: the first quarter ended March 31, 2024
Revenue: $37.1 million
Net income: Net loss was $7.1 million
EPS: ($0.76)
Guidance: initiated
Result: reported results

Exact text from the filing

Financial and Operational Highlights: • Revenue was $37.1 million for the quarter, a decrease of 9.9% from the prior year quarter • Gross profit margin in Q1'24 decreased by 230 basis points to 34.5% due to change in product mix from the prior year quarter • Net loss was $7.1 million , compared to net loss of $2.9 million in the prior year quarter • Net loss per basic and diluted common share was ($0.76), compared to ($0.35) net loss per basic and diluted common share in the prior year quarter

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Source: SEC EDGAR

accession 0001628280-24-021662

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