$BOXL

Boxlight Corp

CIK:0001624512|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues, net	$ 25,918	$ 30,852	$ 48,360	$ 53,275
Cost of revenues	13,004	20,062	28,507	34,442
Gross profit	12,914	10,790	19,853	18,833
Operating expense:
General and administrative	8,358	10,983	16,709	18,559
Depreciation and amortization	2,577	2,591	5,133	5,054
Research and development	942	1,128	1,878	2,040
Total operating expense	11,877	14,702	23,720	25,653
Income (loss) from operations	1,037	(3,912)	(3,867)	(6,820)
Other (expense) income:
Interest expense, net	(1,060)	(2,571)	(2,334)	(5,058)
Other income (expense), net	391	2,331	(309)	2,984
Loss on warrant issuance	0	0	0	(578)
Change in fair value of derivative liabilities	(122)	(42)	(154)	(51)
Change in fair value of common warrants	0	(251)	0	1,685
Total other expense	(791)	(533)	(2,797)	(1,018)
Income (loss) before income taxes	246	(4,445)	(6,664)	(7,838)
Income tax benefit (expense)	263	(274)	648	(124)
Net income (loss)	509	(4,719)	(6,016)	(7,962)
Fixed dividends - Series B Preferred	(318)	(317)	(635)	(634)
Net loss attributable to common stockholders - basic	191	(5,036)	(6,651)	(8,596)
Net loss attributable to common stockholders - diluted	191	(5,036)	(6,651)	(8,596)
Comprehensive income (loss):
Net loss	509	(4,719)	(6,016)	(7,962)
Other comprehensive income (loss):
Foreign currency translation adjustment	(163)	152	(301)	722
Total comprehensive income (loss)	$ 346	$ (4,567)	$ (6,317)	$ (7,240)
Net income (loss) per share of Class A common stock – basic (in dollars per share)	$ 0.34	$ (55.00)	$ (11.39)	$ (106.15)
Net income (loss) per share of Class A common stock – diluted (in dollars per share)	$ 0.34	$ (55.00)	$ (11.39)	$ (106.15)
Weighted average number of shares of Class A common stock outstanding – basic (in shares)	566,951	91,564	583,810	80,979
Weighted average number of shares of Class A common stock outstanding – diluted (in shares)	566,951	91,564	583,810	80,979

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net loss	$ 509	$ (4,719)	$ (6,016)	$ (7,962)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt premium, discount and issuance cost			(22)	1,246
Provision for credit losses			(2)	(122)
Paid-in-kind accrual on short-term debt			0	150
Changes in deferred tax assets and liabilities			679	(31)
Change in allowance for sales returns and volume rebates			58	(837)
Change in fair value of common warrants	0	251	0	(1,685)
Change in inventory reserve			95	(686)
Change in fair value of derivative liabilities	122	42	154	51
Stock compensation expense			212	348
Depreciation and amortization			5,133	5,054
Loss on warrant issuance	0	0	0	578
Change in right of use assets and lease liabilities			(325)	(197)
Changes in operating assets and liabilities:
Accounts receivable – trade			(405)	(2,311)
Inventories			4,727	14,712
Prepaid expenses and other current assets			(2,099)	(41)
Other assets			(164)	55
Accounts payable and accrued expenses			(8,616)	(13,452)
Other short-term liabilities			251	(134)
Other liabilities			49	165
Deferred revenues			(1,181)	(748)
Net cash used in operating activities			(7,472)	(5,847)
Cash flows from investing activities:
Purchases of furniture and fixtures, net			(75)	(159)
Net cash used in investing activities			(75)	(159)
Cash flows from financing activities:
Proceeds from short-term debt			0	2,500
Principal payments on short-term debt			0	(2,010)
Net change in related party accounts payable-inventory financing			(577)	2,747	$ 3,699
Proceeds from issuance of common stock and pre-funded warrants			3,682	2,818
Net cash provided by financing activities			3,105	6,055
Effect of foreign currency exchange rates			(626)	(448)
Net decrease in cash and cash equivalents			(5,068)	(399)
Cash and cash equivalents, beginning of the period			9,370	8,007	8,007
Cash and cash equivalents, end of the period	4,302	7,608	4,302	7,608	$ 9,370
Supplemental cash flow disclosures:
Cash paid for income taxes			79	706
Cash paid for interest			1,743	3,431
Non-cash investing and financing transactions:
Addition of operating lease liabilities			186	0
Cash dividends accrued for Series B Preferred stockholders	$ 634	$ 634	634	634
Conversion of convertible related-party debt to common stock			$ 556	$ 0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 4,302	$ 9,370
Accounts receivable – trade, net of allowances for credit losses of $1,051 and $1,055	15,574	15,358
Inventories, net of reserves	33,014	38,126
Prepaid expenses and other current assets	9,777	6,624
Total current assets	62,667	69,478
Property and equipment, net of accumulated depreciation	1,612	1,770
Operating lease right of use asset	6,305	7,009
Intangible assets, net of accumulated amortization	12,078	17,080
Deferred tax assets, net	793	1,472
Other assets	895	734
Total assets	84,350	97,543
Current liabilities:
Accounts payable and accrued expenses - related party	16,851	26,485
Short-term debt	34,129	1,274
Operating lease liabilities, current	1,492	1,741
Deferred revenues, current	8,834	9,273
Other short-term liabilities	4,767	3,598
Total current liabilities	66,707	42,852
Deferred revenues, non-current	13,876	14,849
Long-term debt	0	32,877
Operating lease liabilities, non-current	5,150	5,650
Other long-term liabilities	40	60
Total liabilities	85,773	96,288
Stockholders’ (deficit) equity:
Common stock, $0.0001 par value, 694,445 shares authorized; 667,348 and 228,335 Class A shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	158,762	155,123
Accumulated deficit	(162,436)	(156,420)
Accumulated other comprehensive income	2,251	2,552
Total stockholders’ (deficit) equity	(1,423)	1,255
Total liabilities and stockholders’ (deficit) equity	84,350	97,543
Nonrelated Party
Current liabilities:
Accounts payable and accrued expenses - related party	14,284	22,786
Derivative liabilities - related party	0	5
Related Party
Current liabilities:
Accounts payable and accrued expenses - related party	2,567	3,699
Derivative liabilities - related party	634	476
Preferred Series A
Stockholders’ (deficit) equity:
Preferred stock, value, issued	0	0
Preferred Series B
Stockholders’ (deficit) equity:
Preferred stock, value, issued	$ 0	$ 0