Boxlight Corporation (NASDAQ: BOXL) reported Q4 EPS of ($0.06), $0.11 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $12 million versus the consensus estimate of $11 million.

• Revenues increased by 125% to $12.0 million; greater than the previously projected $11 million
• Gross profit improved to 25.2%
• Operating loss decreased by 81% to $1.1 million

Management Commentary

“We had an extremely eventful and productive 2018, particularly in the fourth quarter,” commented, Mark Elliott, Boxlight’s Chief Executive Officer. “We achieved record revenue for the fourth quarter and full year 2018. Our strong momentum continued after the important back-to-school season and through the fourth quarter, driving our growth to a company historic quarterly record of $12.0 million for the fourth quarter. We’ve successfully grown our sales pipeline across the U.S. and in key international markets including Europe and Latin America, which has resulted in the largest sales pipeline in our history.”

Mr. Elliott concluded, “We see a significant opportunity to continue our growth trajectory well into the future through product introductions, growth in our re-seller network and strategic acquisitions. It is an exciting time at Boxlight with our mission to improve learning and engagement in classrooms, and to help educators enhance student outcomes. I want to thank our dedicated employees, our trusted customers and our supportive partners. While 2018 was a huge success, we know this is just the beginning. There is much work to do in delivering our best-in-class and award-winning interactive technology solutions for the global education market, and continuing to build shareholder value.”

2019 Outlook:

Based on our current business pipeline, backlog and contracts, we expect 2019 revenue to increase by at least 25% over 2018. Additionally, we are targeting gross margins in the 25-30% range for 2019, as we expect higher margin hardware, software and professional services to contribute more significantly to revenue. We believe cross-sell opportunities exist to expand our penetration and offerings within our existing customers.

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