Boxlight Corporation (BOXL) Tops Q4 EPS by 36c, Revenues Beat

March 25, 2021 4:10 PM EDT
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Boxlight Corporation (NASDAQ: BOXL) reported Q4 EPS of $0.25, $0.36 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $31.9 million versus the consensus estimate of $27.18 million.

Key Financial Highlights for Q4 2020 as Compared to Q4 2019

  • Revenues increased by 437% to $31.9 million
  • Customer orders increased by 453% to $33.2 million
  • Gross profit margin was 11.2%, as adjusted for the net effect of acquisition-related purchase accounting, increased to 26.4%, an improvement of 84 basis points
  • Net loss per common share improved by $0.9 to $(0.17)
  • Adjusted EBITDA improved by $3.0 million to $0.4 million
  • Adjusted EPS improved by $0.25 to $0.01

Management Commentary

“We closed the fourth quarter with record customer orders and outperformed our revenue and earnings guidance,” commented Michael Pope, Chairman and Chief Executive Officer. “Despite challenging disruptions to how we interact and communicate in both education and business settings, we have experienced increased demand for our solutions in 2021 and expect to report the first quarter with revenue greater than $28 million and positive Adjusted EBITDA. Note that the first quarter is seasonally slow and has historically accounted for less than 20% of annual sales.

“We are benefiting from a robust and growing market for interactive hardware and software solutions, and are executing on our strategy to take market share by providing superior solutions and unsurpassed customer support. Specifically, we are managing an unprecedented order pipeline for our education technology solutions, including our range of interactive displays, in both the EMEA and the U.S. markets.

“We are committed to improving profit margins as we diversify our product mix with increasing sales from high margin solutions such as software, proprietary accessories and professional services.”

For earnings history and earnings-related data on Boxlight Corporation (BOXL) click here.

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