Boxlight Corporation (NASDAQ: BOXL) reported Q1 EPS of ($0.07), $0.01 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $33.4 million versus the consensus estimate of $31.01 million.

Key Financial Highlights for Q1 2021 as Compared to Q1 2020

• Revenues increased by 484% to $33.4 million
• Customer orders increased by 528% to $47.7 million
• Gross profit margin was 25.6%, as adjusted for the net effect of acquisition-related purchase accounting, increased to 28.0%, an improvement of 24 basis points
• Net loss per common share improved by $0.07 to $(0.09)
• Adjusted EBITDA improved by $2.3 million to $1.6 million
• Working capital improved by 406% to $21.8 million
• Ended the quarter with $20.9 million backorders, $10.0 million cash and $47.4 million stockholders’ equity

“We completed another record quarter with $47.7 million in customer orders, $33.4 million in revenues and $1.6 million in Adjusted EBITDA,” commented Michael Pope, Chairman and Chief Executive Officer.

“Our triple digit revenue increase over the same quarter last year is a testament to our winning expansion strategy through both organic growth and strategic acquisitions.

“We continue to benefit from unprecedented market expansion, particularly in the education sector as schools return to in-class learning and are utilizing increased technology budgets, supported by substantial government funding programs.

“Given our current order volume and growing sales pipeline, we are optimistic on the second quarter and expect to report revenue of $39 million and at least $1 million in Adjusted EBITDA.”

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