The following is a summary of the Boxlight Corporation (BOXL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Boxlight reported Q1 2024 revenue of $37.1 million, a decrease of 9.9% compared to Q1 2023.

• The gross profit for the quarter stood at $12.8 million, with the gross profit margin declining by 230 basis points over Q1 2023.

• Boxlight reported a net loss of $7.1 million or negative $0.76 per basic and diluted share for the quarter.

• The company delivered positive adjusted EBITDA, exceeding internal expectations, which amounted to $0.2 million.

Business Progress:

• Boxlight launched several cost reduction and operational efficiency initiatives, including reducing approximately $5 million in fixed costs.

• They have refined their strategy to integrate more within the competitive EdTech market, offering solutions at all price and specification tiers.

• The company acknowledges the decline of the global market for IFPDs but has seen substantial order shipment volume growth, particularly in Europe.

• Significant changes to the management structure were made to improve accountability and support the delivery of external forecasts.

• Boxlight Corporation ranks among Time Magazine's list of the World's Top 250 EdTech Companies and continues working on resolving and improving its capital structure.

• The company has set a forecast for Q2 2024 adjusted EBITDA of $2 million to $3 million and expects full-year revenues to remain flat year-over-year.

More details: Boxlight IR

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