DULUTH, Ga.--(BUSINESS WIRE)--April 16, 2026--
Boxlight Corporation (Nasdaq: BOXL) ("Boxlight" or the "Company"), a leading provider of interactive technology solutions, today announced the Company's financial results for the fourth quarter and full year ended December 31, 2025.
Financial and Operational Highlights:
-- Revenue was $26.6 million for the quarter, an increase of 11.0% from
the prior year quarter
-- Gross profit margin in Q4'25 decreased by 711 basis points to 23.5%
from the prior year quarter
-- Net loss for the quarter was $(9.7) million, compared to net loss of
$(16.7) million in the prior year quarter, which included accelerated
amortization of $12.3 million
-- Net loss per basic and diluted common share was $(9.96), compared to
$(52.14) net loss per basic and diluted common share in the prior year
quarter
-- Adjusted EBITDA1 decreased by $3.2 million to $(4.9) million from the
prior year quarter
-- Ended the quarter with $9.4 million in cash, $26.6 million in working
capital, and $1.3 million in stockholders' equity
-- Launched FrontRow Symphony$(TM)$ campus communication platform in January
2026, a next-generation, IP-based solution that unifies bells, paging,
intercom, classroom audio, and emergency alerts into a single platform,
expanding the Company's FrontRow portfolio and strengthening its position
in campus-wide communication and safety systems
Management Commentary
"We continued to take actions during 2025 to align our cost structure with current revenue levels while maintaining focus on our core education and corporate markets," said Hank Nance, Chief Operating Officer of Boxlight. "We also expanded our product portfolio with the launch of FrontRow Symphony(TM), which strengthens our classroom communication offering. As we enter 2026, our priorities remain centered on operational discipline, margin improvement, and driving topline growth by doubling down on our relationships with our trusted reseller partners, through a reconstructed sales organization with aligned territories, and continued product evolutions and iterations to support the educational environment for years to come."
Ryan Zeek, Boxlight's Chief Financial Officer, added, "As Hank mentioned, we took actions during 2025, particularly in Q4, resulting in one-time and/or non-recurring charges reflected in the Q4'25 financial results. This was necessary to position Boxlight for a better tomorrow in lock step with the continued investments in R&D that brought our launch of FrontRow Symphony(TM) to fruition."
Revenues being up 11% in Q4'25 as compared to Q4'24 is a step in the right direction for Boxlight. There are more steps to come in this journey, with a particular focus on generating revenue at a velocity that is sustainable at a reduced expense load. 2026 brings a year of potential, and we are taking actions daily to match Boxlight's expense structure with the topline revenue.
Overall, 2025 was a challenging year for the interactive flat-panel display (IFPD) market, and Boxlight was not immune to the challenges, as reflected in our FY'25 financial results. Unlike revenue, which can fluctuate significantly in a short period, expenses tend to be more structural in nature and slower to adjust. Expense actions taken in 2025 are already in place and will be reflected in the 2026 results.
WhiteHawk Capital Partners is one example of partners that leaned in with Boxlight, with the Eleventh Amendment finalized in late Q4. We also acknowledge the support from our many other partners who, although not individually named, are equally appreciated.
Macroeconomic conditions, including recent trade policies, negatively impacted gross margin and operating margin during 2025. We are closely monitoring developments related to IEEPA tariffs, including potential rulings and any associated refund processes that may result in the coming weeks and months. We intend to evaluate and take any appropriate actions as developments continue to unfold.
(____________________________________) (1) This is a non-GAAP financial measure. A reconciliation of this non-GAAP financial measure to its comparable GAAP financial measure has been provided in the financial tables included in this press release. An explanation of this measure and how it is calculated is also included below under the heading "Non-GAAP Financial Measures".
Financial Results for the Three Months Ended December 31, 2025 (Q4'25) vs. Three Months Ended December 31, 2024 (Q4'24)
Total revenues were $26.6 million for Q4'25 as compared to $24.0 million for Q4'24, representing an 11.0% increase. The increase in revenues was due to higher sales volume in the Americas market.
Gross profit for Q4'25 was $6.3 million as compared to $7.3 million for Q4'24, a decrease of 14.8%. Gross profit margin decreased to 23.5% for Q4'25 compared to 30.6% for Q4'24. The decrease in gross profit margin was primarily attributable to recent increases in pricing pressure within the industry and an increase in tariff-related expenses of $0.16 million. Gross profit for Q4'25 also included $1.1 million in non-recurring charges related to inventory obsolescence. These charges reflect the Company's broader strategy to be laser focused on IFPD's, optimize storage capacity and expense load to align with higher-turning inventory items, and uplevel its product portfolio through its FrontRow Symphony(TM) platform.
General and administrative expense was $8.2 million for both Q4'25 and Q4'24. As a percentage of revenue, general and administrative expense decreased to 30.7% from 34.5%, primarily due to higher revenues in Q4'25, while general and administrative expense remained consistent year over year. General and administrative expense for Q4'25 included approximately $0.3 million of non-recurring professional fees related to the Whitehawk loan and $0.7 million in expenses associated with executive severance.
Depreciation and amortization expense for Q4'25 were $2.6 million, representing 9.8% of revenue as compared to $14.3 million representing 59.8% of revenue for Q4'24. The decrease in depreciation and amortization expense for Q4'25 was primarily related to the Q4'24 accelerated amortization expense of $12.3 million, resulting from an adjustment in the useful lives of certain intangible assets from the EMEA and Americas reporting segments.
Research and development expense was $1.1 million or 4.2% of revenue for Q4'25 as compared to $0.9 million or 4.0% of revenue for Q4'24. Research and development expense primarily consists of costs associated with the development of proprietary technology. The increase was attributable to the allocation of certain general and administrative expenses to new and ongoing research and development projects.
Other expense for Q4'25 was $4.8 million as compared to $3.2 million for Q4'24. Other expense consists primarily of interest expense on our term loan.
Net loss decreased $7.0 million to $(9.7) million for Q4'25, which was a result of the changes noted above. Net loss attributable to common shareholders was $(10.0) million in Q4'25 compared to $(17.0) million in Q4'24, after deducting fixed dividends paid to Series B preferred shareholders of $0.3 million in both years.
Total Q4'25 comprehensive loss was $(8.2) million compared to a $(19.2) million loss for Q4'24. The change reflects the effect of foreign currency translation adjustments on consolidation, with the net effect of a $1.5 million gain in Q4'25 and a $(2.5) million loss for Q4'24.
Basic and diluted loss per share for Q4'25 was $(9.96) compared to $(52.14) for Q4'24.
EBITDA(2) loss for Q4'25 was $(5.6) million, as compared to EBITDA loss of $(2.5) million for Q4'24.
Adjusted EBITDA loss for Q4'25 was $(4.9) million, as compared to Adjusted EBITDA loss of $(1.8) million for Q4'24. Adjustments to EBITDA included stock-based compensation expense, impairment of goodwill, gains/losses from the remeasurement of derivative liabilities, severance charges, and purchase accounting impact of fair valuing deferred revenue.
Financial Results for the Year Ended December 31, 2025 (FY'25) vs. the Year Ended December 31, 2024 (FY'24)
Total revenues for FY'25 were $109.2 million as compared to $135.9 million for FY'24, resulting in a 19.6% decrease. The decrease in revenues was due to lower sales volume across all markets, primarily resulting from lower global demand for interactive flat panel displays as well as competitive industry pricing.
Cost of revenues for FY'25 was $75.6 million as compared to $89.0 million for FY'24, resulting in a 15.0% decrease. The decrease in cost of revenues was attributable to the decrease in units sold, offset by increases in tariff expenses.
Gross profit for FY'25 was $33.6 million as compared to $46.9 million for FY'24. Gross profit margin declined to 30.8% for FY'25 compared to 34.5% for FY'24, primarily related to changes in the product mix, increases in pricing pressure within the industry, and the impact of a $1.5 million increase in tariffs on the cost of our products compared to the prior year. Gross profit for FY'25 included $1.1 million in non-recurring inventory obsolescence charges incurred during Q4'25. These charges are consistent with the Company's broader strategy to uplevel its product portfolio through its FrontRow Symphony(TM) offering and optimize storage capacity towards higher-turning inventory items.
General and administrative expense for the year ended FY'25 was $35.5 million and 32.5% of revenue, as compared to $41.8 million and 30.7% of revenue for FY'24. The decrease was primarily related to a decrease in personnel-related expenses of approximately $4.2 million, a reduction in sales and marketing expenses of approximately $1.0 million, and a decrease in professional fees of approximately $0.8 million.
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