Boxlight Corp BOXL
We are a technology company that develops, sells, and services interactive solutions predominantly for the global education market, but also for the corporate and government sectors. We are seeking to become a worldwide leading innovator and integrator of interactive products and software solutions, and improve collaboration and effective communication in meeting environments. We currently design, produce, and distribute interactive technologies including our interactive and non-interactive flat-panel displays, LED video walls, media players, classroom audio and campus communication, cameras, and other peripherals for the education market and non-interactive solutions, including flat-panels, LED video walls, and digital signage for the enterprise market. We also distribute science, technology, engineering, and math (or "STEM") products, including our 3D printing and robotics solutions, and our portable science lab. All products are integrated into our classroom software suite that provides tools for whole class learning, assessment, and collaboration. In addition, we offer professional training services related to our technology to our U.S. educational customers. To date, we have generated the majority of our revenue in the U.S. and internationally from the sale of interactive displays and related software to the educational market. We have sold our solutions into more than 70 countries and into more than 1.5 million classrooms and meeting spaces. We sell our products and software through more than 1,000 global reseller partners. We are confident we offer the most comprehensive and integrated line of interactive display solutions, audio products, peripherals and accessories, software, and professional development for schools and enterprises on the market today. The majority of our products are backed by nearly 40 years of research and development. Our website address is https://boxlight.com. Information available on our website is not a part of, and is not incorporated into, this Annual Report.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $109.2M | $135.9M | $176.7M | $221.8M | $185.2M | $54.9M | $33.0M | $37.8M | $25.7M | $20.4M |
| Cost of revenue | $75.6M | $89.0M | $113.4M | $156.9M | $138.7M | $45.0M | $24.1M | $29.2M | $19.3M | $13.0M |
| Gross profit | $33.6M | $46.9M | $63.3M | $64.9M | $46.5M | $9.9M | $8.9M | $8.7M | $6.4M | $7.4M |
| R&D | $4.3M | $4.1M | $3.2M | $2.5M | $1.8M | $1.4M | $1.2M | $671.7K | $465.9K | $1.0M |
| SG&A | $35.5M | $41.8M | $61.3M | $59.3M | $47.3M | $21.2M | $15.8M | $15.0M | $13.2M | $7.7M |
| Total operating expenses | $50.0M | $66.4M | $89.6M | $61.8M | $49.1M | $22.6M | $17.0M | $15.6M | $13.7M | $8.7M |
| Operating income | -$16.4M | -$19.5M | -$26.3M | $3.0M | -$2.6M | -$12.7M | -$8.1M | -$7.0M | -$7.2M | -$1.3M |
| Interest expense | — | — | $10.8M | $9.9M | $3.4M | $2.8M | $1.8M | $841.8K | $635.4K | $818.2K |
| Pre-tax income | -$24.7M | -$30.2M | -$37.3M | -$3.7M | -$10.5M | -$17.0M | -$9.4M | — | — | — |
| Income tax | $920.0K | $1.9M | $1.9M | $49.0K | $3.3M | $821.0K | — | — | — | — |
| Net income | -$23.8M | -$28.3M | -$39.2M | -$3.7M | -$13.8M | -$16.2M | -$9.4M | -$7.2M | -$6.5M | -$2.1M |
| EPS, basic | -39.74 | -90.69 | -21.38 | -0.58 | -0.23 | -0.39 | — | — | — | — |
| EPS, diluted | -39.74 | -90.69 | -21.38 | -0.58 | -0.23 | -0.39 | -0.88 | -0.72 | -1.20 | -0.48 |
| Shares, diluted (wtd. avg.) | 631,091 | 326,439 | 1.9M | 8.6M | 58.8M | 42.2M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $9.4M | $8.0M | $17.3M | $14.6M | $17.9M | $13.5M | $1.2M | $901.5K | $2.0M | $456.5K |
| Receivables | $15.4M | $18.3M | $32.7M | $31.0M | $29.6M | $20.9M | $3.7M | $3.6M | $3.1M | $2.9M |
| Inventory | $38.1M | $43.3M | $44.1M | $58.2M | $51.6M | $20.9M | $3.3M | $4.2M | $4.6M | $4.2M |
| Total current assets | $69.5M | $78.4M | $103.6M | $111.2M | $108.5M | $61.4M | $9.9M | $10.0M | $10.1M | $8.0M |
| Property, plant and equipment | $1.8M | $2.1M | $2.5M | $1.7M | $1.1M | $562.0K | $207.0K | $226.4K | $29.8K | $60.0K |
| Goodwill | — | $0 | $0 | $25.1M | $26.0M | $22.7M | $4.7M | $4.7M | $4.2M | $4.2M |
| Other intangibles | $17.1M | $25.9M | $46.0M | $52.6M | $65.5M | $55.2M | $5.6M | $6.4M | $6.1M | $6.8M |
| Total assets | $97.5M | $115.3M | $161.8M | $195.4M | $201.4M | $140.0M | $20.5M | $21.3M | $20.5M | $19.1M |
| Accounts payable | $26.5M | $24.2M | $27.4M | $30.7M | $25.7M | $10.7M | $4.7M | $1.9M | $2.5M | $4.5M |
| Short-term debt | $1.3M | $37.1M | $1.0M | $845.0K | $9.8M | $16.8M | $6.2M | $3.0M | $856.4K | $7.8M |
| Total current liabilities | $42.9M | $77.0M | $49.4M | $48.5M | $54.7M | $40.4M | $17.2M | $12.6M | $11.2M | $12.7M |
| Long-term debt | $32.9M | $0 | $39.1M | $43.8M | $42.1M | $24.6M | $1.2M | $3.0M | — | — |
| Total liabilities | $96.3M | $99.7M | $116.5M | $115.0M | $119.6M | $66.6M | $21.1M | $13.3M | $11.4M | $17.0M |
| Retained earnings | -$156.4M | -$132.6M | -$104.3M | -$65.0M | -$61.3M | -$47.5M | -$31.3M | -$19.2M | -$12.0M | -$5.5M |
| Total equity | $1.3M | -$12.9M | $16.8M | $51.9M | $53.3M | $44.5M | -$647.0K | $8.0M | $9.1M | $2.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.3M | -$439.0K | $11.6M | $1.2M | -$2.3M | -$4.7M | -$4.3M | -$3.8M | -$1.3M | $2.4M |
| Depreciation and amortisation | $10.3M | $20.5M | $8.9M | $9.1M | $7.2M | $2.6M | $909.0K | $885.7K | $747.2K | $353.4K |
| Stock-based compensation | $269.0K | $1.4M | $3.1M | $3.3M | $4.1M | $1.6M | $1.1M | $2.0M | $4.3M | $464.3K |
| Capital expenditure | $102.0K | $506.0K | — | — | — | — | — | — | — | — |
| Investing cash flow | -$102.0K | -$506.0K | -$1.3M | -$1.2M | -$34.0M | -$45.3M | $6.0K | $900.2K | -$10.0K | $366.6K |
| Financing cash flow | $3.4M | -$7.1M | -$8.0M | -$5.1M | $41.1M | $65.6M | $4.5M | $1.8M | $2.9M | -$3.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-051854.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.4M | $25.7M | $37.8M | $33.0M | $54.9M | $185.2M | $221.8M | $176.7M | $135.9M | $109.2M |
| Gross profit | $7.4M | $6.4M | $8.7M | $8.9M | $9.9M | $46.5M | $64.9M | $63.3M | $46.9M | $33.6M |
| Net income | -$2.1M | -$6.5M | -$7.2M | -$9.4M | -$16.2M | -$13.8M | -$3.7M | -$39.2M | -$28.3M | -$23.8M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed Item 5.03
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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