Boxlight (BOXL) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was $29.3M, down 19.2% year-over-year and 4.9% sequentially, driven by lower global demand and competitive pricing in interactive flat panel displays.

• Net loss for Q3 2025 was $6.2M, compared to $3.1M in Q3 2024; nine-month net loss was $14.1M versus $11.6M prior year.

• Adjusted EBITDA for Q3 2025 was $(0.4)M, down from $2.2M in Q3 2024.

• Ended Q3 2025 with $11.8M in cash and $1.5M in working capital.

• Launched CL Totem digital signage in North America and regained Nasdaq compliance.

Financial highlights

• Q3 2025 revenue: $29.3M (down 19.2% YoY); nine-month revenue: $82.6M (down 26.2% YoY).

• Gross profit for Q3 2025: $8.5M (29.1% margin), down from $12.3M (33.8%) in Q3 2024.

• Operating expenses for Q3 2025: $12.5M (42.5% of revenue), down from $13.1M (36.1%) in Q3 2024.

• Net loss per share for Q3 2025: $(1.88); for nine months: $(4.87).

• EBITDA for Q3 2025: $(1.1)M; Adjusted EBITDA: $(0.4)M.

Outlook and guidance

• Management highlights substantial doubt about the ability to continue as a going concern within one year due to debt maturity and forecasted covenant non-compliance.

• The company is actively seeking to refinance its debt and recapitalize but has no executed agreements as of the report date.

• Management sees ongoing industry headwinds from trade dynamics and government funding disruptions but highlights future opportunities in K-12 education and corporate digital signage.