Highlights

  • Second quarter Revenue was USD 25,918 thousand, 16.0% lower than USD 30,852 thousand.
  • Gross profit rose to USD 12,914 thousand from USD 10,790 thousand.
  • Net income was USD 509 thousand against a net loss of USD 4,719 thousand.
  • The filing cites substantial doubt about Going Concern tied to covenant compliance.

Boxlight Corporation (NASDAQ:BOXL) shares were trading near their all-time low at USD 1.92 on November 6, 2026, down 2.30% on the day. The company reported second quarter revenue of USD 25,918 thousand and Net Income of USD 509 thousand.

Boxlight designs, produces and distributes interactive displays, collaboration software and related products for schools, education, Business and government interactive spaces.

Revenue and Margins

Revenue was USD 25,918 thousand against USD 30,852 thousand, a decrease of 16.0%. For the six months ended June 30, 2026, revenue was USD 48,360 thousand against USD 53,275 thousand.

Cost of revenues was USD 13.0 million against USD 20.1 million, a decrease of 35.2%. Gross Profit was USD 12,914 thousand against USD 10,790 thousand, and USD 19,853 thousand for the six months against USD 18,833 thousand. The filing says lower sales of audio units accompanied the transition of buyers to a recently launched product.

Profit and Loss

Income from operations was USD 1,037 thousand against a loss of USD 3,912 thousand. Net income was USD 509 thousand against a net loss of USD 4,719 thousand, and net income attributable to common stockholders was USD 191 thousand against a loss of USD 5,036 thousand.

For the six months, the loss from operations was USD 3,867 thousand against USD 6,820 thousand. The net loss was USD 6,016 thousand against USD 7,962 thousand, and the loss attributable to common stockholders was USD 6,651 thousand against USD 8,596 thousand.

Liquidity and Covenants

Cash and cash equivalents were USD 4.3 million at June 30, 2026, with negative Working Capital of USD 4.0 million and a current ratio of 0.94. A year earlier the company held USD 7.6 million of cash and negative working capital of USD 0.5 million.

The filing states there is substantial doubt about the company's ability to continue as a going concern, as it depends on maintaining compliance with the financial covenants under its amended Credit Agreement and achieving positive cash flow. Net cash used in Operating Activities was USD 7,472 thousand against USD 5,847 thousand.

Net cash provided by financing activities was USD 3,105 thousand against USD 6,055 thousand, and net cash used in investing activities was USD 75 thousand against USD 159 thousand.

Balance Sheet and Governance

Total Assets were USD 84,350 thousand against USD 97,543 thousand at December 31, 2025. Total liabilities were USD 85,773 thousand, leaving a stockholders' Deficit of USD 1,423 thousand against Equity of USD 1,255 thousand. The accumulated deficit was USD 162,436 thousand.

On February 17, 2026, Dale Strang stepped down as chief executive officer and a director in a planned Leadership transition. The filing states that his departure from the board restored compliance with a Nasdaq listing rule. There were 667,393 Class A shares outstanding on August 11, 2026, after a reverse stock split.