Boxlight Corporation announced its financial results for the fourth quarter and full year ended December 31, 2024, with Q4 revenues totaling $24.0 million, a 38.2% decrease from $38.8 million in Q4 2023. Full-year 2024 revenues were $135.9 million, down 23.1% from $176.7 million in FY 2023, primarily due to lower global demand for interactive flat panel displays and competitive pricing.
Despite the revenue contraction, the company reported a net loss of $16.7 million for Q4 2024, an improvement from $18.0 million in Q4 2023, and a full-year net loss of $28.3 million, an improvement from $39.2 million in FY 2023. This was partly driven by a reduction in total operating expenses, which decreased by 18.5% in Q4 2024 to $23.6 million and by 26% for the full year to $66.4 million, reflecting planned cost-cutting initiatives.
As of December 31, 2024, Boxlight had $8.0 million in cash and cash equivalents and $37.1 million in debt. The company was not in compliance with the senior leverage ratio financial covenant under its credit agreement at year-end, and subsequently with the borrowing base covenant, requiring an Eighth Amendment to its Credit Agreement on March 24, 2025, to waive the noncompliance.
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