Boxlight Corp
NASDAQ:BOXL
Boxlight Corp
Boxlight Corp. is an education technology company. The company is headquartered in Lawrenceville, Georgia and currently employs 183 full-time employees. The company went IPO on 2017-11-30. The firm develops, sells, and services its integrated solution suite, including interactive displays, collaboration software, supporting accessories, professional services, audio and campus communication solutions. Boxlight also distributes science, technology, engineering, and math (STEM) products, including its robotics and coding system, 3D printing solution and portable science lab. Its products are integrated into Boxlight's software suite that provides tools for presentation creation and delivery, assessment, and collaboration. The company provides various services to its clients, including hardware maintenance services, product installation, training, software maintenance, and subscription services. Its products are sold in approximately 72 countries and its software is available in 32 languages.
Boxlight Corp. is an education technology company. The company is headquartered in Lawrenceville, Georgia and currently employs 183 full-time employees. The company went IPO on 2017-11-30. The firm develops, sells, and services its integrated solution suite, including interactive displays, collaboration software, supporting accessories, professional services, audio and campus communication solutions. Boxlight also distributes science, technology, engineering, and math (STEM) products, including its robotics and coding system, 3D printing solution and portable science lab. Its products are integrated into Boxlight's software suite that provides tools for presentation creation and delivery, assessment, and collaboration. The company provides various services to its clients, including hardware maintenance services, product installation, training, software maintenance, and subscription services. Its products are sold in approximately 72 countries and its software is available in 32 languages.
Revenue Decline: Boxlight's Q3 2024 revenue fell 26.9% year-over-year to $36.3 million, reflecting continued industry softness, especially in the U.S.
Profitability Focus: Management is aligning operating expenses with current demand, targeting a run rate of $12 to $13 million per quarter by year-end and seeking additional cost savings.
Brand Streamlining: The company is consolidating major product lines under three main brands—Clevertouch, FrontRow, and Mimio/EOS—aiming for a unified global offering and supply chain.
Debt Repaid: Boxlight fully repaid a $4 million bridge loan and continued to pay down term loan principal, now under $40 million.
Market Conditions: Weak U.S. K-12 demand is attributed to a spending "hangover" following heavy prior investment; EMEA markets showed relative strength with growth in Germany and Belgium.
Margin Pressure: Gross margin declined 250 basis points to 33.8% due to competitive pricing and sales mix changes.
Outlook: Management remains bullish long-term, expecting industry recovery next year, but cautions that quarter-to-quarter volatility will persist in the near term.
