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Shaun Marklew, the Chief Technology Officer of Boxlight Corp (NASDAQ:BOXL), recently executed a sale of 885 shares of the company's Class A common stock. The shares were sold at a price of $0.41 each, amounting to a total transaction value of $362. This sale was conducted on January 13, 2025, as part of a routine procedure to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The stock has since risen to $0.88, showing strong momentum with a remarkable 109% gain year-to-date, according to InvestingPro data.
Following this transaction, Marklew holds a total of 26,782 shares, which includes 10,774 shares of Class A common stock and 16,008 RSUs that are subject to vesting conditions. The sale was automatically executed as per the company's equity incentive plan and does not reflect discretionary trading decisions by Marklew. InvestingPro analysis indicates the stock is currently undervalued, with 11 additional ProTips available to subscribers, including insights on the company's financial health, profitability metrics, and growth prospects.
In other recent news, education technology firm, Boxlight Corporation, reported a decrease in its Q3 revenue to $36.3 million, marking a 26.9% fall from the previous year's $49.7 million. The company attributed this decline largely to softer demand for its interactive flat panel displays, particularly in the U.S. market. Despite these challenges, Boxlight remains positive about its long-term growth, emphasizing the favorable reception of new products and a strategic rebranding initiative. The company has rebranded its product lines under three categories: Clevertouch, FrontRow, and Mimio, all branded "By Boxlight."
In addition to these developments, Boxlight achieved an adjusted EBITDA of $2.2 million and managed to reduce its net loss to $3.1 million from $17.8 million in Q3 2023. The company is actively managing operating expenses, targeting a quarterly run rate of $12 million to $13 million by the end of 2024. The company's total assets amount to $141.5 million, with $42.3 million in inventory, and $38.8 million in debt, alongside $6.5 million in stockholders' equity.
While Boxlight experienced a significant revenue decline due to soft demand in the U.S., the company saw revenue increases of 29% and 18% in European markets like Germany and Belgium, respectively. The company is optimistic about potential growth in Europe and expects an improvement in the U.S. market next year. Boxlight is also preparing for potential impacts from U.S. tariffs and is maintaining strong supplier relationships. Despite the current market challenges, Boxlight remains focused on its strategic brand consolidation and operational efficiency.
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