Boxlight Corporation - BOXL STOCK NEWS

Boxlight Corporation (Nasdaq: BOXL) has been recognized at The EdTech Awards 2023, winning the Cool Tool Award for its Attention! solution, while CleverShare was a finalist in the same category. The EdTech Awards celebrate the most innovative names in education technology, emphasizing contributions to improving learning outcomes. Boxlight's dedication to enhancing communication and engagement in education is highlighted through its commitment to developing effective interactive technologies. This recognition aligns with Boxlight's mission to support educators and students through a comprehensive solution suite designed for modern learning environments.

Boxlight Corporation (Nasdaq: BOXL) reported its Q4 2022 financial results with a 2.7% decrease in revenue to $42.8 million compared to Q4 2021, but an impressive 19.8% increase for the full year at $221.8 million. The net loss per diluted share improved to ($0.03), down from ($0.11) year-over-year. Adjusted EBITDA rose by $4.6 million to $2.6 million for the quarter, totaling $18.9 million for the year. The company ended the quarter with $14.6 million in cash and strong working capital of $62.8 million. Looking ahead, Boxlight forecasts Q1 2023 revenue of $40 million and adjusted EBITDA of $3 million.

Boxlight Corporation (Nasdaq: BOXL) has introduced a new LED display solution called MimioWall, aimed at enhancing communication and learning in large spaces like classrooms and lecture halls. The MimioWall features a vibrant digital display available in nine sizes (120" to 299") along with integrated design for easy installation. Key features include a 3-in-1 board reducing setup time to under four hours, smart remote control, and real-time wireless screen sharing for up to four devices. Additionally, it utilizes CleverLive digital signage software for campus-wide communication. VP Operations Jeremy Peterson highlighted its versatility for lessons, presentations, and emergency alerts.

Boxlight Corporation (Nasdaq: BOXL) will conduct its Fourth Quarter and Full Year 2022 earnings conference call on March 15, 2023, at 4:30 p.m. Eastern Time. CEO Michael Pope noted a decline in customer demand in the latter half of 2022, but emphasized stronger than expected profitability with an Adjusted EBITDA exceeding $2 million. The company paid down $8.5 million on its credit facility during the quarter, enhancing its balance sheet. A Form 8-K will be filed before the conference call, featuring audited financial statements. A replay of the call will be available until March 29, 2023.

Boxlight Corporation (NASDAQ: BOXL) has launched its new Mimio DS Flat Panel Series, featuring large format professional displays designed for digital signage and meeting room integration. The 4K UHD displays aim to enhance content delivery and collaboration in educational and business environments. Key features include wireless screen sharing compatibility with multiple platforms, remote management capabilities via MDM software, and various display sizes. The product is positioned to improve user engagement and streamline communication across campuses with integrated solutions like CleverShare and CleverLive.

Boxlight Corporation (Nasdaq: BOXL) has authorized a share repurchase program of up to $15 million for its Class A common stock. This decision aims to enhance shareholder value, especially during periods when the stock is trading below its intrinsic value. CEO Michael Pope emphasized the company's strategic approach to utilizing operating cash flows for long-term growth. The program offers flexibility, allowing repurchases through various methods and is authorized until January 26, 2027. However, the company is not obliged to repurchase any specific amount of stock, depending on market conditions.

Boxlight Corporation (Nasdaq: BOXL) has been recognized in Christian School Products’ 2022 Top Product of the Year for its Mimio K-12 Ed Tech solutions suite. This award highlights Boxlight's commitment to enhancing education through interactive technology. The Mimio suite includes various tools such as the MimioPro 4 interactive display and STEM solutions, designed for effective teaching and learning in diverse environments. Sunshine Nance, Sr. VP Global Marketing, expressed pride in their offerings that engage and motivate students.

Boxlight Corporation (Nasdaq: BOXL) reported strong financial results for Q3 2022, with revenue increasing by 12.7% to $68.7 million compared to Q3 2021. Net income rose to $3.1 million, or $0.03 per diluted share, an improvement from $0.01 per share last year. Adjusted EBITDA improved by $2.7 million to $9.9 million. The company also reported $22 million in cash and $62.3 million in working capital. However, customer orders decreased by 14.3%.