Boxlight(BOXL) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenues for Q1 2025 were $22.4 million, a decrease of 39.5% compared to $37.1 million in Q1 2024[5] - Gross profit for Q1 2025 was $8.0 million, down 37.2% from $12.8 million in Q1 2024, with a gross profit margin of 35.9%[7] - Net loss for Q1 2025 was $3.2 million, an improvement from a net loss of $7.1 million in Q1 2024, resulting in a net loss per share of $1.41 compared to $3.81[10] - Adjusted EBITDA for Q1 2025 was a loss of $25 thousand, compared to a gain of $0.2 million in Q1 2024[13] - Revenues for Q1 2025 were $22.423 million, a decrease of 39.5% compared to $37.093 million in Q1 2024[25] - Gross profit for Q1 2025 was $8.043 million, down 37.1% from $12.815 million in Q1 2024[25] - Net loss for Q1 2025 was $3.243 million, an improvement from a net loss of $7.089 million in Q1 2024[25] - Adjusted EBITDA for Q1 2025 was $(25) thousand, compared to $179 thousand in Q1 2024[26] - Operating expenses for Q1 2025 were $10.951 million, down 33.1% from $16.420 million in Q1 2024[25] Cash and Assets - The company ended Q1 2025 with $8.1 million in cash and $1.6 million in working capital, alongside a stockholders' deficit of $15.8 million[7] - Total current assets decreased to $73.953 million in Q1 2025 from $78.382 million in Q4 2024, a decline of 5.4%[24] - Cash and cash equivalents increased slightly to $8.077 million in Q1 2025 from $8.007 million in Q4 2024[24] - Total stockholders' deficit increased to $(15.815) million in Q1 2025 from $(12.896) million in Q4 2024[24] - Total liabilities decreased to $96.002 million in Q1 2025 from $99.692 million in Q4 2024, a reduction of 1.7%[24] Strategic Initiatives - Boxlight launched the Clevertouch Max 2 in the U.S. market, moving towards a unified flat panel brand globally[7] - The company formalized partnerships with five major third-party emergency management platforms for integrated School Safety Solutions[7] - Boxlight received ISO 27001 accreditation for information security management for Clevertouch[7] - The company is strategically focusing on operational efficiency and expanding its commercial ecosystem in anticipation of renewed spending in the education sector[4] Foreign Currency Impact - The company reported a foreign currency translation adjustment of $570 thousand in Q1 2025, compared to a loss of $811 thousand in Q1 2024[25]