BOXL Boxlight Corp

Overview and Growth

Boxlight Corp generated $109.25M of revenue in fiscal 2025, with net loss of $23.81M and an operating cash outflow of $3.33M. Revenue of $109.25M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 19.6% below fiscal 2024 revenue of $135.89M, marking a top-line contraction. On a per-share basis, diluted EPS was -$39.74, which connects the reported earnings outcome with the company’s diluted share count. Total assets stood at $97.54M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 1.12x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $33.63M as gross profit before recognizing operating expenses and other items. Gross profit represented 30.8% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $16.37M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 15.0%, showing the shortfall after operating costs. The company ended the period with a net loss of $23.81M, extending the operating result through all remaining items. Net margin was -21.8%, reflecting a loss equal to 21.8% of reported revenue. EBITDA was negative $6.09M, showing a deficit before interest, taxes, depreciation, and amortization. The pretax result was a loss of $24.73M, establishing the deficit before tax effects. Pretax margin was -22.6%, reflecting a pre-tax loss equal to 22.6% of revenue. The company recognized an income-tax benefit of $920.00K, increasing after-tax earnings relative to the pretax result. The net loss equaled 24.4% of period-end assets, showing the deficit relative to the asset base. Compared with a $28.34M net loss in fiscal 2024, the current loss improved to $23.81M.

Liquidity and Capital Structure

Total assets were $97.54M, supported by $96.29M of liabilities and $1.25M of shareholder equity. The near-term balance sheet paired $69.48M of current assets with $42.85M of current liabilities at the reporting date. At 1.62x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $9.37M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 21.9%, excluding receivables and other current assets. Total debt was $34.15M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 27.21x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 35.0% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 1.3% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 98.7% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 9.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $115.31M in fiscal 2024, the current asset base moved 15.4% and finished lower. Compared with $8.01M in fiscal 2024, the current cash balance moved 17.0% and finished higher.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $3.33M, rather than cash generation from operations. Capital spending of $102.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $3.44M cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 3.1%. Relative to total assets, the post-investment cash deficit measured 3.5%.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.