Boxlight Corporation, which provides technology solutions to education companies, has reported a first-quarter 2021 net loss of $5.2 million, compared to a net loss of $1.95 million in 2019.
The Lawrenceville, Georgia-based company reported recorded revenue for the first quarter at $33.4 million, up 484% from $5.7 million reported for the first quarter of 2020.
Boxlight’s chairman and chief executive Michael Pope said: “We completed another record quarter with $47.7 million in customer orders, $33.4 million in revenues and $1.6 million in adjusted EBITDA. Our triple-digit revenue increase over the same quarter last year is a testament to our winning expansion strategy through both organic growth and strategic acquisitions.
“We continue to benefit from unprecedented market expansion, particularly in the education sector as schools return to in-class learning and are utilising increased technology budgets, supported by substantial government funding programmes. Given our current order volume and growing sales pipeline, we are optimistic on the second quarter and expect to report revenue of $39 million and at least $1 million in adjusted EBITDA.”
Date published: 14 May 2021