Boxlight reports mixed financial results for 2024

Boxlight Corp (NASDAQ:BOXL), a provider of educational technology solutions, announced preliminary financial results for the year ended December 31, 2024. The company experienced a decrease in consolidated net revenues, which are expected to be approximately $137.1 million, down from $176.7 million in the previous year.

This decline aligns with InvestingPro analysts’ expectations of continued sales challenges, as the company operates with a significant debt burden and a debt-to-equity ratio of 7.36. Despite the revenue decline, Boxlight anticipates an improvement in its operating loss, which is projected to be between $18.5 million and $19.5 million, compared to $26.3 million for the year ended December 31, 2023.

The estimated gross profit margin for 2024 is approximately 34.6%, slightly down from 35.8% in 2023. Operating expenses are expected to be between $66.0 million and $67.0 million, reflecting a significant reduction from $89.6 million in the prior year.

According to InvestingPro data, the company maintains a healthy current ratio of 2.1, indicating sufficient liquid assets to meet short-term obligations. For deeper insights into Boxlight’s financial health and 12 additional ProTips, consider exploring InvestingPro’s comprehensive analysis.

These preliminary figures are based on currently available information and are subject to change upon completion of the company’s financial closing procedures. The final results could differ from these preliminary estimates, and Boxlight’s independent registered public accounting firm has not yet audited, reviewed, or compiled these figures. Therefore, undue reliance should not be placed on these preliminary estimates.

Boxlight’s complete and final financial results for 2024, including detailed information on consolidated net revenues, gross profit margin, operating expenses, and operating loss, will be included in the company’s Annual Report on Form 10-K for the year ended December 31, 2024.

In other recent news, Boxlight Corporation has announced a 1-for-5 reverse stock split of its Class A common stock. This strategic move is designed to comply with Nasdaq’s minimum bid price requirement for continued listing. The reverse stock split will take effect on February 14, 2025, with trading on a split-adjusted basis beginning on February 18, 2025.

As a result, the total number of authorized shares of Class A common stock will decrease from 18,750,000 to 3,750,000, although the par value will remain unchanged. Adjustments will also be made to Boxlight’s outstanding equity awards, equity incentive plans, existing agreements, and outstanding warrants.

The conversion factor for the company’s convertible preferred stock will be proportionately adjusted, but the authorized number of preferred stock shares will stay at 50,000,000. Stockholders will not receive fractional shares; instead, any fractions will be rounded up to the nearest whole share.

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