Boxlight Corporation, which provides technology solutions to education companies, has reported a second-quarter 2021 net loss of $2.2 million, compared to a net loss of $1.4 million in Q2 2020. Revenue for the quarter was $46.8 million, up 479% from $7.8 million reported for the second quarter of 2020.
The Lawrenceville, Georgia-based company also announced results for the first six months of 2021. It’s net loss for the period was $7.4 million, compared to a net loss of $3.4 million reported for the first six months of 2020. Revenue for the half-year was $80.2 million, up from $13.6 million reported for the first six months of last year.
Boxlight’s chairman and chief executive Michael Pope said: “We delivered another record quarter, again outperforming both our external guidance and internal targets. For the first half of 2021, we generated $124 million in orders, $80 million in revenue and $7 million in adjusted EBITDA. We are fulfilling our commitment to rapid growth and improved profitability. Our vision is to become the industry leader, and we made significant strides toward reaching that goal during the second quarter.
“Entering our seasonally strongest quarter, we expect to report the third quarter with revenue of $60 million, adjusted EBITDA greater than $7 million and positive net income.”
Date published: 13 August 2021