Boxlight (BOXL) Registration Filing summary

Company overview and business model

• Designs, produces, and distributes interactive displays, collaboration software, STEM products, and professional services for education, business, and government sectors.

• Operates in three segments: EMEA, North and Central America, and other regions, with a primary focus on education technology.

• Majority of revenue is generated from hardware and software sales to educational markets in the US and Europe.

• Strategic plan includes integrating acquired products, expanding the reseller network, and hiring experienced sales representatives.

Financial performance and metrics

• Incurred net losses of $40.4 million in 2023 and $5.0 million in 2022; net loss of $12.6 million for the nine months ended September 30, 2024.

• Total revenues declined 20.3% from $221.8 million in 2022 to $176.7 million in 2023.

• Revenues for the three and nine months ended September 30, 2024, declined 26.9% and 18.9%, respectively, compared to prior year periods.

• Owed $40.1 million under a credit agreement as of September 30, 2024, and has not complied with certain financial covenants.

• Substantial doubt exists about the ability to continue as a going concern within one year after the financial statements are issued.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in the applicable prospectus supplement.