Boxlight Corporation (BOXL) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
2750 PREMIERE PARKWAY, DULUTH, GA 30097 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 82 - Educational Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 14,591 | 17,938 | 13,460 | 1,173 | 901 | 2,010 | |||
| Cash and cash equivalents | 14,591 | 17,938 | 13,460 | 1,173 | 901 | 2,010 | |||
| Receivables | 31,009 | 29,573 | 20,869 | 3,665 | 3,635 | 3,090 | |||
| Inventory, net of allowances, customer advances and progress billings | 58,211 | 51,591 | 20,913 | 3,319 | 4,214 | 4,627 | |||
| Inventory | 58,211 | 51,591 | 20,913 | 3,319 | 4,214 | 4,627 | |||
| Prepaid expense | 1,214 | 388 | |||||||
| Other undisclosed current assets | 7,433 | 9,444 | 6,161 | 1,766 | |||||
| Total current assets: | 111,244 | 108,546 | 61,403 | 9,923 | 9,965 | 10,115 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 4,350 | ✕ | ✕ | ||||||
| Property, plant and equipment | 1,733 | 1,073 | 562 | 207 | 226 | 30 | |||
| Intangible assets, net (including goodwill) | 77,671 | 91,569 | 77,899 | 10,283 | 11,090 | 10,309 | |||
| Goodwill | 25,092 | 26,037 | 22,742 | 4,724 | 4,738 | 4,182 | |||
| Intangible assets, net (excluding goodwill) | 52,579 | 65,532 | 55,157 | 5,559 | 6,352 | 6,127 | |||
| Other noncurrent assets | 397 | 248 | 91 | 56 | 0 | 0 | |||
| Other undisclosed noncurrent assets | (2) | (14) | |||||||
| Total noncurrent assets: | 84,151 | 92,890 | 78,550 | 10,546 | 11,303 | 10,339 | |||
| TOTAL ASSETS: | 195,395 | 201,436 | 139,953 | 20,469 | 21,267 | 20,453 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 36,566 | 33,638 | 14,156 | 4,721 | 1,884 | 2,995 | |||
| Accounts payable | 30,719 | 25,714 | |||||||
| Accrued liabilities | 5,306 | 6,440 | 89 | 13 | 580 | ||||
| Other undisclosed accounts payable and accrued liabilities | 541 | 1,484 | 14,067 | 4,709 | 1,303 | 2,995 | |||
| Deferred revenue | 8,308 | 7,575 | 5,671 | 1,973 | ✕ | ✕ | |||
| Debt | 1,690 | 9,804 | 3,012 | ||||||
| Derivative instruments and hedges, liabilities | 472 | 3,064 | 363 | 147 | 326 | 1,857 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,127 | ||
| Due to related parties | 1,967 | 5,031 | 6,009 | 4,442 | |||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 938 | ✕ | ||
| Other liabilities | 386 | 667 | 1,209 | 31 | 5 | ||||
| Other undisclosed current liabilities | 1,053 | 17,026 | 5,305 | 389 | (9,299) | ||||
| Total current liabilities: | 48,475 | 54,748 | 40,392 | 17,208 | 12,563 | 1,123 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 43,778 | 17 | |||||||
| Long-term debt, excluding current maturities | 43,778 | 17 | |||||||
| Liabilities, other than long-term debt | 22,740 | 22,401 | 10,482 | 2,691 | 463 | 175 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 175 | ||
| Deferred revenue | 15,603 | 13,952 | 10,482 | 2,583 | ✕ | ✕ | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 135 | ✕ | ||
| Deferred income tax liabilities | 4,680 | 8,449 | ✕ | ✕ | |||||
| Due to related parties | 108 | 328 | |||||||
| Operating lease, liability | 2,457 | ✕ | ✕ | ||||||
| Other undisclosed noncurrent liabilities | 42,477 | 15,735 | 1,201 | 273 | 10,105 | ||||
| Total noncurrent liabilities: | 66,518 | 64,878 | 26,217 | 3,909 | 736 | 10,280 | |||
| Total liabilities: | 114,993 | 119,626 | 66,609 | 21,117 | 13,299 | 11,403 | |||
| Temporary equity, carrying amount | 28,509 | 28,509 | 28,876 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | 51,893 | 53,301 | 44,467 | (648) | 7,968 | 9,050 | |||
| Preferred stock | 0 | 0 | 0 | ||||||
| Common stock | 7 | 6 | 5 | 1 | 1 | 1 | |||
| Additional paid in capital | 117,843 | 110,867 | 86,768 | 30,736 | 27,280 | 21,126 | |||
| Accumulated other comprehensive income (loss) | (914) | 3,728 | 5,192 | (38) | (106) | (48) | |||
| Accumulated deficit | (65,043) | (61,300) | (47,498) | (31,346) | (19,206) | (12,028) | |||
| Stockholders' equity note, subscriptions receivable | (0) | (0) | (0) | ||||||
| Other undisclosed equity | 1 | ||||||||
| Total equity: | 51,893 | 53,301 | 44,468 | (648) | 7,968 | 9,050 | |||
| TOTAL LIABILITIES AND EQUITY: | 195,395 | 201,436 | 139,953 | 20,469 | 21,267 | 20,453 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 221,781 | 185,177 | 54,891 | 33,030 | 37,841 | 25,744 | ||
| Cost of revenue | (156,913) | (138,652) | (45,023) | (24,089) | (29,188) | (19,330) | ||
| Cost of goods and services sold | (156,913) | (138,652) | (45,023) | (24,089) | (29,188) | (84) | ||
| Gross profit: | 64,868 | 46,525 | 9,868 | 8,942 | 8,653 | 6,414 | ||
| Operating expenses | (61,819) | (49,096) | (22,576) | (17,001) | (15,650) | (13,656) | ||
| Operating income (loss): | 3,049 | (2,571) | (12,708) | (8,059) | (6,997) | (7,242) | ||
| Nonoperating income (expense) | (6,743) | (7,921) | (4,265) | (1,343) | (181) | 702 | ||
| Other nonoperating income (expense) | (267) | (20) | 129 | 88 | 68 | 702 | ||
| Interest and debt expense | (9,923) | (3,382) | (1,363) | 118 | 165 | 276 | ||
| Loss from continuing operations before equity method investments, income taxes: | (13,617) | (13,874) | (18,336) | (9,284) | (7,013) | (6,264) | ||
| Other undisclosed income from continuing operations before income taxes | 9,923 | 3,382 | 1,363 | |||||
| Loss from continuing operations before income taxes: | (3,694) | (10,492) | (16,973) | (9,284) | (7,013) | (6,264) | ||
| Income tax expense (benefit) | (49) | (3,310) | 832 | |||||
| Loss from continuing operations: | (3,743) | (13,802) | (16,141) | (9,284) | (7,013) | (6,264) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (13,802) | (16,141) | (9,284) | (7,013) | (6,264) | ||
| Other undisclosed net loss | (11) | (118) | (165) | (276) | ||||
| Net loss attributable to parent: | (3,743) | (13,802) | (16,152) | (9,402) | (7,178) | (6,540) | ||
| Preferred stock dividends and other adjustments | (1,269) | (338) | ||||||
| Other undisclosed net income (loss) available to common stockholders, basic | (1,269) | 367 | ||||||
| Net loss available to common stockholders, diluted: | (5,012) | (14,704) | (16,490) | (9,402) | (7,178) | (6,540) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (3,743) | (13,802) | (16,152) | (9,402) | (7,178) | (6,540) | ||
| Comprehensive loss: | (3,743) | (13,802) | (16,152) | (9,402) | (7,178) | (6,540) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (4,642) | (1,464) | 5,230 | 68 | (59) | (35) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (8,385) | (15,266) | (10,922) | (9,334) | (7,236) | (6,574) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.