Despite sequential revenue improvement, structural issues persist: declining margins, recurring covenant breaches, and shareholder dilution through debt conversion. Monitor Q1 2026 for evidence of margin stabilization and covenant compliance.
Price Chart
Executive Summary
Boxlight reported Q4 2025 revenue of $26.6M (+11% YoY) but net loss widened to $9.7M due to margin compression and non-recurring charges. Full-year revenue fell 19.6% to $109.2M. The company secured a credit amendment and converted $556K of inventory financing into equity.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $26.6M (+11% YoY), but gross margin fell 711 bps to 23.5%
- Q4 net loss: $9.7M (vs $16.7M loss in prior-year quarter) including $1.1M inventory obsolescence charge
- Full-year 2025 revenue: $109.2M (-19.6% YoY), net loss: $25.1M
- Company in compliance with credit agreement as of 12/31/25 but received waiver for subsequent non-compliance
- Launched FrontRow Symphony campus communication platform in January 2026
- On April 1, 2026, $556,200 of inventory financing converted into 600,000 shares of common stock
Financial Impact
Revenue growth offset by margin compression and non-recurring charges leading to widened losses
Risk Factors
- Continued covenant violations could trigger loan acceleration
- Margin pressure from pricing competition and tariffs
- Shareholder dilution from related-party financing arrangements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-024911 |
| Document: boxl-20260413.htm | 0001628280-26-024911 |
| Document: 0001628280-26-024911-index-headers.html | 0001628280-26-024911 |
| Document: 0001628280-26-024911-index.html | 0001628280-26-024911 |
| Document: 0001628280-26-024911.txt | 0001628280-26-024911 |
| 8-K Data (Synthetic) | 0001628280-26-024911 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | S-1/A | $2.69 | awaiting T+20 | — | $2.65 (+1.49%) |
Oct 15, 2026 12d ago | DEF 14A | $2.95 | awaiting T+20 | — | $2.65 (+10.17%) |
Oct 13, 2026 14d ago | 8-K/A | $2.80 | awaiting T+20 | — | $2.65 (−5.36%) |
Oct 6, 2026 21d ago | 8-K | $3.24 | awaiting T+20 | — | $2.65 (+18.21%) |
Sep 22, 2026 5w ago | S-1 | $4.93 $2.85 | ▲ +42.19% | ▲ +42.88% | $2.65 (+46.25%) |
Aug 25, 2026 9w ago | 8-K | $6.50 $4.93 | ▲ +24.10% | ▲ +25.07% | $2.65 (+59.20%) |
Jul 29, 2026 12w ago | 8-K | $2.73 $6.05 | ▲ +121.61% | ▲ +116.59% | $2.65 (−2.93%) |
Jun 26, 2026 17w ago | DEFA14A | $4.60 $3.55 | ▲ +22.83% | ▲ +22.55% | $2.65 (+42.39%) |
Jun 11, 2026 19w ago | Insider Cluster | $0.7351 $0.6517 | ▼ −11.35% | ▼ −12.71% | $2.65 (+260.50%) |
Jun 11, 2026 19w ago | Insider Cluster | $0.7700 $0.7100 | ▼ −7.79% | ▼ −9.34% | $2.65 (+244.16%) |
US Market Status
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