Overview

• US interactive technology provider's Q1 revenue was largely flat yr/yr, with higher display sales

• Gross profit margin fell to 30.9%, mainly due to industry pricing pressure and higher customs expense

• Company was not in compliance with financial covenants related to the borrowing base but received a limited waiver from lenders

Outlook

• Boxlight expects global unit demand in 2026 to remain consistent with 2025 levels

• Company anticipates recovery in spending as deferred demand returns

• Boxlight says technology refresh cycles and shift to digital learning support long-term demand

Result Drivers

• HIGHER DISPLAY SALES - Revenue increase was driven by higher sales of interactive flat panel displays

• CUSTOMS EXPENSES - Cost of revenues rose due to higher units sold and a $1.5 mln increase in customs expense

• PRICING PRESSURE - Gross margin decline was primarily related to increases in pricing pressure within the industry and higher customs expense

Company press release: ID:nBw1PY2MBa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Slight Beat*	$22.44 mln	$22.42 mln (1 Analyst)
Q1 Net Income	Miss	-$6.53 mln	-$6.36 mln (1 Analyst)
Q1 Basic EPS	Beat	-$2.25	-$6.51 (1 Analyst)
Q1 Income From Operations	Miss	-$4.90 mln	-$4.58 mln (1 Analyst)
Q1 Gross Profit		$6.94 mln
Q1 Operating Expenses		$11.84 mln
Q1 Pretax Profit		-$6.91 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The one available analyst rating on the shares is "hold"

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