0001624512
false
0001624512
2023-11-08
2023-11-08
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (date of earliest event reported):
November 8, 2023
BOXLIGHT CORPORATION
(Exact name of registrant as specified in its charter)
Nevada 001-37564 36-4794936
(State or other jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
2750 Premiere Parkway, Ste. 900
Duluth
,
Georgia
30097
(Address Of Principal Executive Offices) (Zip Code)
678
-
367-0809
(Registrant's Telephone Number, Including Area Code)
N/A
(Former name or formed address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock $0.0001 per share BOX The Nasdaq Stock Market LLC
L
Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 ((s)230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 ((s)240.12b-2 of this
chapter).
Emerging growth company
o
If an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new
or revised financial accounting standards provided pursuant to Section 13(a)
of the Exchange Act.
o
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Item 2.02 Results of Operations and Financial Condition.
On November 8, 2023, Boxlight Corporation, a Nevada corporation (the
"Company"), issued a press release announcing its third quarter 2023 financial
results. The press release also announced the Company will hold a conference
call to discuss its third quarter financial results today, on Wednesday,
November 8, 2023, at 4:30 p.m. Eastern Time.
The conference call details are as follows:
Date: Wednesday, November 8, 2023
Time: 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time
Dial-in: 1-888-506-0062 (Domestic)
1-973-528-0011 (International)
Participant Access Code: 391836
Webcast: https://www.webcaster4.com/Webcast/Page/2213/49195
For those unable to participate during the live broadcast, a replay of the
conference call will be available until 11:59 p.m. Eastern Time on Wednesday,
November 22, 2023, by dialing 1-877-481-4010 (domestic) and 1-919-882-2331
(international) and referencing the replay passcode 49195.
A copy of the press release is attached as Exhibit 99.1 hereto and
incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in
this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or otherwise subject to the liabilities of that Section. Such
information may be incorporated by reference in another filing under the
Exchange Act or the Securities Act of 1933, as amended, only if and to the
extent that such subsequent filing specifically references such information.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press Release, dated
November 8,
2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BOXLIGHT CORPORATION
Dated: November 8, 2023
By: /s/ Greg Wiggins
Name: Greg Wiggins
Title: Chief Financial Officer
Boxlight Reports Third Quarter 2023 Financial Results
.
Revenue was $49.7 million for the quarter, a decrease of 28% from the prior
year quarter
.
Net loss per basic and diluted common share was $(1.90), compared to net
income per basic and diluted common share of $0.31 and $0.28, respectively, in
the prior year quarter
.
Adjusted EBITDA decreased by $5.0 million to $4.9 million from the prior year
quarter
.
Ended quarter with $18.4 million in Cash, $61.4 million in Working Capital and
$30.6 million in Stockholders' Equity
.
Expect Q4 2023 Revenue and adjusted EBITDA to remain flat with prior year at
$43 million and $3 million, respectively
.
Sales orders increased 11% to $48.5 million
Duluth, GA - Business Wire - November 8, 2023 -
Boxlight Corporation (Nasdaq: BOXL) ("Boxlight" or the "Company"), a leading
provider of interactive technology solutions, today announced the Company's
financial results for the third quarter ended September 30, 2023.
Key Financial Highlights for Q3 2023 as Compared to Q3 2022
.
Revenue decreased by 28% to $49.7 million
.
Customer orders increased 11% to $49.4 million
.
Gross profit margin improved by 570 basis points to 36.3%
.
Net loss was $17.8 million compared to net income of $3.1 million
0.1
.
Adjusted EBITDA decreased by $4.9 million to $4.9 million
.
Net loss per basic and diluted common share was $(1.90), compared to net
income per basic and diluted common share of $0.31 and $0.28, respectively
.
Ended the quarter with $18.4 million in Cash, $61.4 million in Working Capital
and $30.6 million in Stockholders' Equity
Key Business Highlights for Q3 2023
.
Received key U.S. customer orders of $7.0 million from ELB, $5.0 million from
Bluum, $2.6 million from Camera Mundi and $1.2 million from Graphics
Distribution.
.
Received key international customer orders of $2.3 million from Information
and Data Networks Supplies (UK), $1.5 million from TASTEONE AV- & IT-Solutions
(Germany) and $1.2 million from CANCOM (Germany).
.
Received nine Tech & Learning Best for Back to School Awards across multiple
products and brands including MimioWall, MimioDS, MyBot Recruit, IMPACT Lux
and Teacher Action! Mic.
.
Won Digital Signage Technology of the Year for CleverLive at the 2023 AV Awards.
1
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.
Announced the release of the first Google EDLA certified interactive flat
panel, the Clevertouch IMPACT Lux and Mimio ProG, bundled with accelerated
Level 1 and Level 2 Google Certification teacher training.
.
Expanded the Clevertouch CM Series, which now includes high bright panels,
totems, 16/7 and 24/7 displays, menu boards and LED Video walls.
Management Commentary
"We saw a decline in revenue for the third quarter, largely due to softer
industry demand," commented Michael Pope, Chairman and Chief Executive
Officer. "However, we did see improved customer demand as indicated by
customer order growth. For the fourth quarter, we expect revenue and Adjusted
EBITDA to be in line with the fourth quarter of 2022. Looking forward to 2024,
we are optimistic that we will return to revenue growth and deliver improved
profitability."
Financial Results for the Three Months Ended September 30, 2023
Total revenues for the three months ended September 30, 2023 were $49.7
million as compared to $68.7 million for the three months ended September 30,
2022, resulting in a 27.7% decrease. The decrease in revenues was primarily
due to lower sales volume across all markets.
Cost of revenues for the three months ended September 30, 2023 were $31.7
million as compared to $47.7 million for the three months ended September 30,
2022, resulting in a 33.7% decrease. The decrease in cost of revenues was
attributable to the decrease in units sold, along with lower manufacturing and
shipping costs in the third quarter of 2023 compared to the prior year's third
quarter.
Gross profit for the three months ended September 30, 2023 was $18.0 million
as compared to $21.0 million for the three months ended September 30, 2022,
resulting in a decrease of 14.3%. Gross profit margin increased to 36.3% for
the three months September 30, 2023 and 30.6% for the three months ending
September 30, 2022. The increase in gross profit margin is primarily related
to the decrease in manufacturing and shipping costs noted above.
Total operating expenses for the three months ended September 30, 2023 were
$29.6 million, accounting for 59.6% of revenues, as compared to $14.6 million
and 21.2% of revenues for the three months ended September 30, 2022. The
increase in operating expenses was due to Goodwill impairment charges of $13.2
million recognized during the three months ended September 30, 2023. There
were no impairment charges during 2022.
Other expense, net for the three months ended September 30, 2023 was $3.0
million as compared to $2.8 million for the three months ended September 30,
2022, representing an increase of $0.2 million. The increase in other expenses
was primarily due to a $0.4 million increase in interest expense, partially
offset by a $0.2 million change in the fair value of derivative liabilities.
Net loss was $17.8 million for the three months ended September 30, 2023. Net
income was $3.1 million for the three months ended September 30, 2022 and was
a result of the changes noted above.
The net loss attributable to common shareholders was $18.1 million for the
three months ended September 30, 2023. Net income attributable to common
shareholders was $2.8 million for the three months ended September 30, 2022,
after deducting fixed dividends paid to Series B preferred shareholders of
$0.3 million in both years.
Total comprehensive loss was $20.6 million and $1.9 million for the three
months ended September 30, 2023 and 2022, respectively. The change reflects
the effect of foreign currency translation adjustments on consolidation, with
the net effect of a $2.9 million loss for the three months ended September 30,
2023 and a $5.0 million loss for the three months ended September 30, 2022.
Basic and diluted EPS for the three months ended September 30, 2023 was
$(1.90). Basic and diluted EPS for the three months ended September 30, 2022
was $0.31 and $0.28, respectively.
EBITDA loss for the three months ended September 30, 2023 was $9.4 million, as
compared to $8.5 million EBITDA for the three months ended September 30, 2022.
Adjusted EBITDA for the three months ended September 30, 2023 was $4.9
million, as compared to $9.9 million for the three months ended September 30,
2022. Adjustments to EBITDA included stock-based compensation expense,
2
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impairment of goodwill, gains/losses recognized upon the settlement of certain
debt instruments, gains/losses from the remeasurement of derivative
liabilities, and the effects of purchase accounting adjustments in connection
with prior period acquisitions.
At September 30, 2023, Boxlight had $18.4 million in cash and cash
equivalents, $61.4 million in working capital, $44.1 million in inventory,
$180.4 million in total assets, $44.4 million in debt, net of debt issuance
costs, $30.6 million in stockholders' equity, 9.6 million common shares issued
and outstanding, and 3.1 million preferred shares issued and outstanding.
Financial Results for the Nine Months Ended September 30, 2023
Total revenues for the nine months ended September 30, 2023 were $137.9
million as compared to $179.0 million for the nine months ended September 30,
2022, resulting in a 22.9% decrease. The decrease in revenues was primarily
due to lower sales volume across all markets.
Cost of revenues for the nine months ended September 30, 2023 were $86.9
million as compared to $128.5 million for the nine months ended September 30,
2022, resulting in a 32.4% decrease. The decrease in cost of revenues was
attributable to the decrease in units sold, along with lower manufacturing and
shipping costs in the first three quarters of 2023 compared to the first three
quarters of the prior year.
Gross profit for the nine months ended September 30, 2023 was $51.0 million as
compared to $50.5 million for the nine months ended September 30, 2022, an
increase of 1.0%. The gross profit margin was 37.0% for the nine months ended
September 30, 2023 and 28.2% for the nine months ended September 30, 2022. The
increase in gross profit is primarily related to the decrease in manufacturing
and shipping costs noted above.
Total operating expenses for the nine months ended September 30, 2023 were
$60.7 million as compared to $46.6 million for the nine months ended September
30, 2022. The increase in operating expenses was due to goodwill impairment
charges of $13.2 million during the nine months ended September 30, 2023.
There were no impairment charges during 2022.
Other expense, net for the nine months ended September 30, 2023 was $8.4
million as compared to $5.1 million for the nine months ended September 30,
2022, representing an increase of $3.3 million. The increase was due to a $1.5
million decrease in the fair value of derivative liabilities, a $0.9 million
increase in interest expense, and a gain of $0.9 million recognized upon the
settlement of certain debt obligations during the nine months ended September
30, 2022.
The Company reported net loss of $21.5 million and $1.7 million for the nine
months ended September 30, 2023 and 2022, respectively, and was a result of
the changes noted above.
Net loss attributable to common shareholders was $22.4 million and $2.7
million for the nine months ended September 30, 2023 and 2022, respectively,
after deducting fixed dividends paid to Series B preferred shareholders of
approximately $1.0 million in both years.
Total comprehensive loss was $22 million and $13 million for the nine months
ended September 30, 2023 and 2022, respectively, reflecting the effect of
cumulative foreign currency translation adjustments on consolidation, with the
net effect year to date of $0.6 million and $11.4 million loss for the nine
months ended September 30, 2023 and 2022, respectively.
Basic and diluted EPS for the nine months ended September 30, 2023 was $(2.39)
per basic and diluted share, compared to $(0.32) per basic and diluted share
for the nine months ended September 30, 2022.
EBITDA loss for the nine months ended September 30, 2023 was $3.0 million, as
compared to $12.9 million EBITDA for the nine months ended September 30, 2022.
Adjusted EBITDA for the nine months ended September 30, 2023 was $13.7
million, as compared to $16.3 million for the nine months ended September 30,
2022. Adjustments to EBITDA include stock-based compensation expense,
impairment of goodwill gains/losses recognized upon the settlement of certain
debt instruments, gains/losses from the remeasurement of derivative
liabilities, and the effects of purchase accounting adjustments in connection
with acquisitions.
3
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Third Quarter 2023 Financial Results Conference Call
The Company will hold a conference call to announce its third quarter
2023
financial results on Wednesday, November 8, 2023, at 4:30 p.m. Eastern Time.
The conference call details are as follows:
Date: Wednesday, November 8, 2023
Time: 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time
Dial-in: 1-888-506-0062 (Domestic)
1-973-528-0011 (International)
Participant Access Code: 391836
Webcast: https://www.webcaster4.com/Webcast/Page/2213/49195
For those unable to participate during the live broadcast, a replay of the
conference call will be available until 11:59 p.m. Eastern Time on Wednesday,
Wednesday, November 22, 2023, by dialing 1-877-481-4010 (domestic) and
1-919-882-2331 (international) and referencing the replay passcode 49195.
Use of Non-GAAP Financial Measures
To provide investors with additional insight and allow for a more
comprehensive understanding of the information used by management in its
financial and decision-making surrounding pro forma operations, we supplement
our consolidated financial statements presented on a basis consistent with
U.S. generally accepted accounting principles, or GAAP, with EBITDA and
Adjusted EBITDA, which are non-GAAP financial measures of earnings. EBITDA
represents net income before income tax expense (benefit), interest expense,
depreciation and amortization. Adjusted EBITDA represents EBITDA plus
stock-based compensation, impairment of goodwill, the change in fair value of
derivative liabilities, purchase accounting impact of inventory markup, fair
value adjustments to deferred revenue, non-cash gains and losses associated
with debt settlement. Our management uses EBITDA and Adjusted EBITDA as
financial measures to evaluate the profitability and efficiency of our
business model. We use these non-GAAP financial measures to assess the
strength of the underlying operations of our business. These adjustments, and
the non-GAAP financial measures that are derived from them, provide
supplemental information to analyze our operations between periods and over
time. We find this especially useful when reviewing pro forma results of
operations, which include large non-cash amortizations of intangible assets
from acquisitions and stock-based compensation. Investors should consider our
non-GAAP financial measures in addition to, and not as a substitute for,
financial measures prepared in accordance with GAAP.
We report our operating results in accordance with U.S. GAAP. We have
disclosed in the table below the results on a constant currency basis to
facilitate period-to-period comparisons of our results without regard to the
impact of fluctuating foreign currency exchange rates. The term foreign
currency exchange rates refers to the exchange rates we use to translate our
operating results into U.S. Dollars for all countries where the functional
currency is not the U.S. Dollar. Because we are a global company, the foreign
currency exchange rates used for translation may have a significant effect on
our reported results. In general, our reported financial results are affected
positively by a weaker U.S. Dollar and are affected negatively by a stronger
U.S. Dollar as compared to the foreign currencies in which we conduct our
business. References to our operating results on a constant-currency basis
mean our operating results without the impact of foreign currency exchange
rate fluctuations.
We believe disclosure of constant-currency results is helpful to investors
because it facilitates period-to-period comparisons of our results by
increasing the transparency of our underlying performance by excluding the
impact of fluctuating foreign currency exchange rates. However, constant-currenc
y results are non-U.S. GAAP financial measures and are not meant to be
considered in isolation or as a substitute for comparable measures prepared in
accordance with U.S. GAAP. Constant-currency results have no standardized
meaning prescribed by U.S. GAAP, are not prepared under any comprehensive set
of accounting rules or principles, and should be read in conjunction with our
consolidated financial statements prepared in accordance with U.S. GAAP.
Constant-currency results have limitations in their usefulness to investors
and may be calculated differently from, and therefore may not be directly
comparable to, similarly titled measures used by other companies.
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Discussion of the Effect of Constant Currency on Financial Condition
We calculate constant-currency amounts by translating local currency amounts
in the current period at actual foreign exchange rates for the prior year
period. Our constant-currency results do not eliminate the transaction
currency impact of purchases and sales of products in a currency other than
the functional currency.
Three Months Ended Three Months Ended %
September 30, 2023 September 30, 2022 Decrease
(Dollars in thousands)
Total revenues
As reported $ 49,667 $ 68,736 (28) %
Impact of foreign currency translation (1,705) -
Constant-currency $ 47,962 $ 68,736 (30) %
Nine Months Ended Nine Months Ended %
September 30, 2023 September 30, 2022 Decrease
(Dollars in thousands)
Total revenues
As reported $ 137,909 $ 178,967 (23) %
Impact of foreign currency translation 752 -
Constant-currency $ 138,661 $ 178,967 (23) %
About Boxlight Corporation
Boxlight Corporation (Nasdaq: BOXL) is a leading provider of interactive
technology solutions under its award-winning brands Clevertouch(R), FrontRow"
and Mimio(R). Boxlight aims to improve engagement and communication in diverse
business and education environments. Boxlight develops, sells, and services
its integrated solution suite including interactive displays, collaboration
software, audio solutions, supporting accessories, and professional services.
For more information about Boxlight and the Boxlight story, visit
http://www.boxlight.com, https://www.clevertouch.com and https://www.gofrontrow.
com.
Forward Looking Statements
This press release may contain information about Boxlight's view of its future
expectations, plans and prospects that constitute forward-looking statements.
Actual results may differ materially from historical results or those
indicated by these forward-looking statements as a result of a variety of
factors including, but not limited to, risks and uncertainties associated with
its ability to maintain and grow its business, variability of operating
results, its development and introduction of new products and services,
marketing and other business development initiatives, and competition in the
industry, among other things. Boxlight encourages you to review other factors
that may affect its future results and performance in Boxlight's filings with
the Securities and Exchange Commission, including its Annual Report on Form
10-K for the year ended December 31, 2022, as filed on March 17, 2023, and its
Quarterly Report on Form 10-Q filed on August 9, 2023.
5
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Boxlight Corporation
Condensed Consolidated Balance Sheets
As of September 30, 2023 and December 31, 2022
(in thousands, except share and per share amounts)
September 30, December 31,
2023 2022
(Unaudited) (as adjusted)*
ASSETS
Current assets:
Cash and cash $ 18,415 $ 14,591
equivalents
Accounts receivable - 40,421 31,009
trade, net of allowances
Inventories, net 44,142 58,211
of reserves
Prepaid expenses and 8,099 7,433
other current assets
Total current assets 111,077 111,244
Property and equipment, net 1,500 1,733
of accumulated depreciation
Operating lease 8,428 4,350
right of use asset
Intangible assets, net of 46,547 52,579
accumulated amortization
Goodwill 11,969 25,092
Other assets 851 397
Total assets $ 180,372 $ 195,395
LIABILITIES AND
STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and $ 35,988 $ 36,566
accrued expenses
Short-term debt 1,022 845
Operating lease 1,570 1,898
liabilities, current
Deferred revenues, 8,202 8,308
current
Derivative liabilities 422 472
Other short-term 2,441 386
liabilities
Total current 49,645 48,475
liabilities
Deferred revenues, 15,531 15,603
non-current
Long-term debt 43,355 43,778
Deferred tax 5,584 4,680
liabilities, net
Operating lease 7,106 2,457
liabilities, non-current
Total liabilities 121,221 114,993
Mezzanine equity:
Preferred Series B, 1,586,620 16,146 16,146
shares issued and outstanding
Preferred Series C, 1,320,850 12,363 12,363
shares issued and outstanding
Total mezzanine equity 28,509 28,509
Stockholders' equity:
Preferred stock, $0.0001 par value, 50,000,000 shares authorized; - -
167,972 and 167,972 shares issued and outstanding, respectively
Common stock, $0.0001 par value, 68,750,000 shares authorized; 9,605,360 1 1
and 9,339,587 Class A shares issued and outstanding, respectively
Additional 118,733 117,849
paid-in capital
Accumulated deficit (86,604) (65,043)
Accumulated other (1,488) (914)
comprehensive loss
Total stockholders' 30,642 51,893
equity
Total liabilities and $ 180,372 $ 195,395
stockholders' equity
*
As adjusted for reverse stock split.
6
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Boxlight Corporation
Condensed Consolidated Statements of Operations and Comprehensive Loss
For the three and nine months ended September 30, 2023 and 2022
(Unaudited)
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
2023 2022 2023 2022
Revenues, $ 49,667 $ 68,736 $ 137,909 $ 178,967
net
Cost of 31,653 47,716 86,919 128,497
revenues
Gross 18,014 21,020 50,990 50,470
profit
Operating
expense:
General and 15,408 13,952 45,366 44,714
administrative
Research and 979 604 2,101 1,865
development
Impairment 13,226 - 13,226 -
of goodwill
Total operating 29,613 14,556 60,693 46,579
expense
(Loss) income (11,599) 6,464 (9,703) 3,891
from operations
Other (expense)
income:
Interest (2,987) (2,598) (8,222) (7,330)
expense, net
Other (181) (128) (231) (204)
expense, net
Gain on settlement - - - 856
of liabilities, net
Change in fair value of 90 (113) 50 1,537
derivative liabilities
Total other (3,078) (2,839) (8,403) (5,141)
expense
(Loss) income $ (14,677) $ 3,625 $ (18,106) $ (1,250)
before income taxes
Income tax (3,073) (520) (3,379) (475)
expense
Net (loss) $ (17,750) $ 3,105 $ (21,485) $ (1,725)
income
Fixed dividends - (317) (317) (952) (952)
Series B Preferred
Net (loss) income attributable $ (18,067) $ 2,788 $ (22,437) $ (2,677)
to common stockholders
Comprehensive
loss:
Net (loss) $ (17,750) $ 3,105 $ (21,485) $ (1,725)
income
Other comprehensive
loss:
Foreign currency (2,854) (5,040) (574) (11,449)
translation adjustment
Total comprehensive $ (20,604) $ (1,935) $ (22,059) $ (13,174)
loss
Net (loss) income per common $ (1.90) $ 0.31 $ (2.39) $ (0.32)
share - basic, as adjusted
Net (loss) income per common $ (1.90) $ 0.28 $ (2.39) $ (0.32)
share - diluted, as adjusted
Weighted average number of common 9,484 8,943 9,399 8,432
shares outstanding - basic, as adjusted
Weighted average number of common shares 9,484 11,197 9,399 8,432
outstanding - diluted, as adjusted
*
As adjusted for reverse stock split.
7
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Reconciliation of net (loss) income for the three and nine months September
30, 2023 and 2022 to EBITDA and Adjusted EBITDA
(in thousands) Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
September September September September
30, 2023 30, 2022 30, 2023 30, 2022
Net (Loss) $ (17,750) $ 3,105 $ (21,485) $ (1,725)
Income
Depreciation and 2,332 2,231 6,893 6,818
amortization
Interest 2,987 2,598 8,222 7,330
expense
Income tax 3,073 520 3,379 475
expense
EBITDA $ (9,358) $ 8,454 $ (2,991) $ 12,898
Stock compensation 671 603 1,823 2,665
expense
Change in fair value of (90) 113 (50) (1,537)
derivative liabilities
Purchase accounting impact 113 189 336 1,395
of fair valuing inventory
Purchase accounting impact of 366 509 1,308 1,747
fair valuing deferred revenue
Gain on settlement - - - (856)
of debt
Impairment 13,226 - 13,226 -
of goodwill
Adjusted $ 4,928 $ 9,868 $ 13,652 $ 16,312
EBITDA
Media
Sunshine Nance
+1 360-464-2119 x254
sunshine.nance@boxlight.com
Investor Relations
Greg Wiggins
+1 360-464-4478
investor.relations@boxlight.com
8
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