BOXL · Boxlight Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $109.25M | $135.89M | $176.72M | $221.78M | $185.18M | $54.89M |
| Cost of Revenue | $75.62M | $88.95M | $113.42M | $156.91M | $138.65M | $45.02M |
| Gross Profit | $33.63M | $46.94M | $63.30M | $64.87M | $46.52M | $9.87M |
| R&D | $4.27M | $4.13M | $3.15M | $2.48M | $1.83M | $1.42M |
| SG&A | $35.45M | $62.28M | $61.25M | $59.34M | $47.27M | $21.16M |
| Total Operating Expenses | $50.00M | $66.41M | $89.60M | $61.82M | $49.10M | $22.58M |
| D&A | $10.28M | $20.53M | $9.13M | $484.0K | $156.0K | $45.0K |
| Operating Income | ($16.37M) | ($19.47M) | ($26.30M) | $3.05M | ($2.57M) | ($12.71M) |
| Interest Expense | - | - | $10.84M | $9.92M | $3.38M | $2.81M |
| Income Tax | ($920.0K) | ($1.91M) | $1.87M | $49.0K | $3.31M | ($832.0K) |
| Net Income | ($23.81M) | ($28.34M) | ($39.16M) | ($3.74M) | ($13.80M) | ($16.15M) |
| EPS - Basic | ($39.74) | ($90.66) | ($128.40) | ($16.80) | ($93.60) | - |
| EPS - Diluted | ($39.74) | ($90.66) | ($128.40) | ($16.80) | ($93.60) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.37M | $8.01M | $17.25M | $14.59M | $17.94M | $13.46M |
| Accounts Receivable | $15.36M | $18.32M | $29.52M | $31.01M | $29.57M | $20.87M |
| Inventory | $38.13M | $43.27M | $44.13M | $58.21M | $51.59M | $20.91M |
| Accounts Payable | - | $20.70M | $27.45M | $30.72M | $10.70M | - |
| Current Assets | $69.48M | $78.38M | $100.38M | $111.24M | $108.55M | $61.40M |
| Total Assets | $97.54M | $115.31M | $158.57M | $195.40M | $201.44M | $139.95M |
| Current Liabilities | $42.85M | $77.04M | $46.23M | $48.48M | $54.75M | $40.39M |
| Long-term Debt | $32.88M | $0 | $39.13M | $43.78M | $24.65M | - |
| Total Liabilities | $96.29M | $99.69M | $113.31M | $114.99M | $119.63M | $66.61M |
| Stockholders' Equity | $1.25M | ($12.90M) | $16.75M | $51.89M | $53.30M | $44.47M |
| Retained Earnings | ($156.42M) | ($132.61M) | ($104.28M) | ($65.04M) | ($61.30M) | ($47.50M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($3.33M) | ($439.0K) | $11.58M | $1.19M | ($2.33M) | ($4.66M) |
| Investing Cash Flow | ($102.0K) | ($506.0K) | ($1.32M) | ($1.21M) | ($34.01M) | $45.32M |
| Financing Cash Flow | $3.39M | ($7.14M) | ($8.01M) | ($5.13M) | $41.15M | $65.58M |
| CapEx | $506.0K | - | - | - | - | - |
| Free Cash Flow | ($3.84M) | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 30.8% | 34.5% | 35.8% | 29.2% | 25.1% | 18.0% |
| Operating margin | -15.0% | -14.3% | -14.9% | 1.4% | -1.4% | -23.2% |
| EBITDA margin | -5.6% | 0.8% | -9.7% | 1.6% | -1.3% | -23.1% |
| Net margin | -21.8% | -20.9% | -22.2% | -1.7% | -7.5% | -29.4% |
| Free cash flow margin | -3.5% | - | - | - | - | - |
| FCF / Net income | 0.16 | - | - | - | - | - |
| R&D / Revenue | 3.9% | 3.0% | 1.8% | 1.1% | 1.0% | 2.6% |
| SG&A / Revenue | 32.5% | 45.8% | 34.7% | 26.8% | 25.5% | 38.5% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -24.4% | -24.6% | -24.7% | -1.9% | -6.9% | -11.5% |
| Return on equity | -1897.2% | 219.7% | -233.8% | -7.2% | -25.9% | -36.3% |
| Return on invested capital | -37.9% | - | -37.2% | 2.5% | -2.6% | - |
| Liquidity | ||||||
| Current ratio | 1.62 | 1.02 | 2.17 | 2.29 | 1.98 | 1.52 |
| Quick ratio | 0.73 | 0.46 | 1.22 | 1.09 | 1.04 | 1.00 |
| Cash ratio | 0.22 | 0.10 | 0.37 | 0.30 | 0.33 | 0.33 |
| Leverage | ||||||
| Debt / Equity | 26.20 | 0.00 | 2.34 | 0.84 | 0.46 | - |
| Debt / Assets | 0.34 | 0.00 | 0.25 | 0.22 | 0.12 | - |
| Debt / EBITDA | - | 0.00 | - | 12.39 | - | - |
| Interest coverage | - | - | -2.4x | 0.3x | -0.8x | -4.5x |
| Equity multiplier | 77.72 | -8.94 | 9.47 | 3.77 | 3.78 | 3.15 |
| Liabilities / Assets | 0.99 | 0.86 | 0.71 | 0.59 | 0.59 | 0.48 |
| Efficiency | ||||||
| Asset turnover | 1.12 | 1.18 | 1.11 | 1.14 | 0.92 | 0.39 |
| Inventory turnover | 1.98 | 2.06 | 2.57 | 2.70 | 2.69 | 2.15 |
| Days sales outstanding | 51d | 49d | 61d | 51d | 58d | 139d |
| Days inventory outstanding | 184d | 178d | 142d | 135d | 136d | 170d |
| Days payable outstanding | - | 85d | 88d | 71d | 28d | - |
| Cash conversion cycle | - | 142d | 115d | 115d | 166d | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 0.9x | - | 18.1x | 99.5x | 262.2x | - |
| P / S | 0.0x | 0.2x | 1.7x | 23.3x | 75.5x | - |
| EV / EBITDA | - | 13.6x | - | 1469.2x | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -19.6% | -23.1% | -20.3% | 19.8% | 237.4% | 66.2% |
| Revenue CAGR (3y) | -21.0% | -9.8% | 47.7% | 88.7% | 93.0% | 28.7% |
| Revenue CAGR (5y) | 14.8% | 32.7% | 47.0% | 53.8% | 55.5% | - |
| Gross profit growth (YoY) | -28.4% | -25.8% | -2.4% | 39.4% | 371.5% | 10.4% |
| Operating income growth (YoY) | 15.9% | 26.0% | - | - | 79.8% | -57.7% |
| Net income growth (YoY) | 16.0% | 27.6% | -946.1% | 72.9% | 14.5% | -71.8% |
| EPS growth (YoY) | 56.2% | 29.4% | -664.3% | 82.1% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | -67.7% | -2.6% | 19.9% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$111.26M totalEurope Middle East And Africa Segment$58.35M · 52.5%
America Segment$51.72M · 46.5%
Geographic Regions Other Than America Europe Middle East And Africa Segment$1.19M · 1.1%
Product / service
$109.25M totalHardware$103.74M · 95.0%
Maintenance And Subscription Services$4.74M · 4.3%
Software And Embedded Firmware$648.0K · 0.6%
Professional Services$120.0K · 0.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.56
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Educational Services
Comparing Boxlight Corp against the 5 most active filers in the same SIC group.