Boxlight Corporation, which provides technology solutions to education companies, has reported third-quarter 2021 net income of $729,000, compared to a net loss of $4.2 million reported for Q3 2020. Revenue for the quarter was $61 million, up 544% from $9.5 million reported for the third quarter of 2020.
The Lawrenceville, Georgia-based company also announced results for the first nine months of 2021. It’s net loss for the period was $6.7 million, compared to a net loss of $7.6 million reported for the first nine months of 2020. Revenue for the nine-month period was $141.2 million, up from $23 million reported for the first nine months of last year.
Boxlight’s chairman and chief executive Michael Pope said: “The third quarter was yet another tremendous result. We again exceeded our guidance and delivered our strongest quarter to date with $61 million in revenue, $7 million in adjusted EBITDA, and for the first time as a company, positive net income and positive earnings per share. For five consecutive quarters, we have delivered positive adjusted EBITDA and above market revenue growth. For the trailing 12 months ended Q3, we reported $214 million orders, $173 million revenue and $15 million adjusted EBITDA.”
Date published: 12 November 2021