In the premarket trading session, Boxlight Corporation (BOXL) stock soared by 6.56% to the price of $2.60 at the time of writing. BOXL stock previously closed at $2.44 with a -4.69% loss. The BOXL stock volume traded for 6.27 million shares. The average volume of trade for 3 months has been 4.87 million. In the past year up-to-date, BOXL stock jumped up by 247.58%. In the past week, they moved up by 34.07%. BOXL stock is currently valued in the market at $133.00 million and has 53.34 million outstanding shares.
Operational background of Boxlight Corporation
Boxlight Corporation is an education technology company. Boxlight Corp. specifically focuses on the integration of classroom solutions in a way for it to be developed, sold, and marketed for the international education market. The product offerings include a certain diverse range of products like projectors, interactive display panels, smart projectors, interactive classroom technology products all of which are primarily focused for the K-12 education market. They also offer MimioTeach which is an interactive technology product that turns any whiteboard interactive.
Along with all its interactive smart programs, Boxlight Corporation has its own MimioStudio Interactive Instructional Software that guides a user on how to create, design, and edit presentations on interactive instructional classes.
Boxlight Corp. gives out shareholder letter to its investors
Today, 28 of April 2021, the company Boxlight Corporation wrote a letter to its shareholders that was signed by the Chairman and CEO of the company- Michael Pope. The shareholder letter is an in-depth overall view of the company’s financial and business activities.
The shareholder letter starts with the acknowledgment of the investors support throughout 2016’s merger of Boxlight Group and Mimio as well as the Initial Public Offering in 2017. Afterwards the acquisition of Mimio, the company went on to expand its interactive display and education portfolio by acquiring Modern Robotics, Sahara Presentation systems, Interactive Concepts, Qwizdom, EOS education, and Cohuba.
The letter then discusses how expansive the network and outreach of their company’s operations are which include 200 employees (100 employees positioned throughout Europe) and 1000 distributors/seller partners. The total past sale record has also been mentioned (1.2 million classrooms globally).
The situation of business activities is also discussed; operations that took place through the COVID-19 pandemic for which the CEO mentioned did not deter the robust growth in order volumes and a pipeline for sales.
Letter gives a brief insight of financial performance and outlook for BOXL
The letter then moves on to the financial performance recently and guidance outlook. Pope, highlights some of the performances which include revenues of $32 million and a record order of $33 million for the fourth quarter 2020.
These performance indicators superseded the guidance of the company and the overall balance sheet along with adjusted EBITDA had also improved. Furthermore, the company announced that it has outperformed Q1 expectations which resulted in update revenue guidance to $31 million for the first quarter.
The letter ends with an overall vision and strategy for market positioning that states that Boxlight Corp. is committed to be a leader in the interactive technologies sector.