Boxlight Q3 revenue down 27% to $36.3M; net loss improves; covenant non-compliance

Boxlight Corp

2024-Q3 EPS reported -$1.29 revenue$111,897,000

Revenue $36.3M, down 26.9% YoY; gross margin fell to 33.8% from 36.3%.
Net loss $3.1M ($0.34 EPS) vs $17.8M loss ($1.90 EPS) last year; Adjusted EBITDA $2.2M down from $4.9M.
Cash $10.5M; not in compliance with senior leverage ratio covenant; finalizing amendment to credit agreement.
Launched IMPACT Max 2 interactive panel and UNITY audio/safety device; unified Clevertouch brand.
Operating expenses reduced 56% YoY (incl $13.2M impairment); employee costs down $2.0M.

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