Boxlight Corporation, which provides technology solutions to education companies, has reported a 2021 net loss of $13.8 million, compared to a net loss of $16.2 million reported for 2020. Revenue for the year was $185.2 million, up 237% from $54.9 million reported for 2020.
The Lawrenceville, Georgia-based company also announced results for the fourth quarter of 2021. It’s net loss for the period was $7.1 million, compared to a net loss of $8.6 million reported for Q4 2020. Revenue for the quarter was $44 million, up 38.1% from $31.9 million reported for Q4 2020.
Boxlight’s chairman and chief executive Michael Pope said: “For the current year, we are experiencing stronger than expected customer orders as well as growth in our sales pipeline and have lifted our guidance for the full year to $250 million in revenue and $26 million in adjusted EBITDA. For the first quarter, we expect $44 million in revenue and $2 million in adjusted EBITDA. We concluded the year with an improved balance sheet including $18 million cash, $53 million working capital and $53 million in net assets.
Date published: 18 March 2022