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Nance Henry, the Chief Operating Officer of Boxlight Corp (NASDAQ:BOXL), recently sold shares of the company's Class A common stock. The transaction, completed on January 13, involved the sale of 575 shares at a price of $0.41 each, amounting to a total transaction value of $235. The sale comes as Boxlight, currently valued at $8.8 million, has shown strong momentum with a 109% year-to-date return according to InvestingPro data.
This sale was executed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) held by Henry. Following the sale, Henry retains ownership of 41,145 shares, comprising 25,135 shares of Class A common stock and 16,010 RSUs, which are subject to certain vesting conditions. InvestingPro analysis reveals the company maintains a healthy current ratio of 2.1, though it operates with significant debt. Subscribers can access 10+ additional ProTips and a comprehensive research report for deeper insights into Boxlight's financial health and market position.
In other recent news, Boxlight Corporation reported a decline in its third-quarter revenue, falling to $36.3 million, a 26.9% decrease from the previous year. The company attributes this drop to softer demand for its interactive flat panel displays, particularly in the U.S. market. Despite this, Boxlight remains optimistic about its long-term growth, citing a positive reception of new products and a strategic rebranding initiative. The company also reported an adjusted EBITDA of $2.2 million and reduced its net loss to $3.1 million from $17.8 million in Q3 2023.
Boxlight is managing operating expenses, aiming for a quarterly run rate of $12 million to $13 million by the end of 2024. The company has $141.5 million in assets, $42.3 million in inventory, and $38.8 million in debt, with $6.5 million in stockholders' equity. After reducing its term loan by $0.5 million post-quarter, the balance stands at $39.3 million.
Lastly, Boxlight is preparing for potential impacts from U.S. tariffs and maintaining supplier relationships. The company is optimistic about growth in Europe and expects U.S. market improvement next year. Despite current challenges, Boxlight is focusing on integrated solutions to enhance its competitive position.
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