- Boxlight ( NASDAQ: BOXL ) shares gained 8% on Friday in response to the firm's second quarter earnings that exceeded Wall Street's and the company's own estimates.
- Late Thursday, Boxlight ( BOXL ) reported revenue of $59.6M that grew 27.5% Y/Y, with customer order up 6.8% to $81.2M.
- Net income per common share improved by $0.04 to $0.00 and gross profit margin grew to 28% from 25% in Q1 partly due to an easing of supply chain and logistics challenges.
- The education technology firm ended the quarter with $56M in back orders, the strongest order pipeline in its history, and a healthy balance sheet, including $12M in cash, $45M in inventory, $54M in working capital and $44M in net assets.
- Going forward, it expects to generate positive cash flows from operations and sees further gross profit margin improvement to ~30% for the second half of 2022.
- For Q3, BOXL expects to deliver greater than $70M in revenue ( consensus : $88.64M) and $10M in adjusted EBITDA. It reiterated guidance of $250M in revenue (consensus: $249.85M) and $26M in adjusted EBITDA for full-year 2022.
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Boxlight stock gains after Q2 earnings beats, reiterates full-year outlook