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The Global Education Market Could Deliver A 58% Gain

The Global Education Market Could Deliver A 58% Gain

Boxlight Corporation (Nasdaq: BOXL) a leading provider of interactive technology solutions for the global education market, recently announced the company’s financial results for the fourth quarter of 2018.

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  • Mark Elliott, Boxlight’s Chief Executive Officer, shared encouraging words: “We had an extremely eventful and productive 2018, particularly in the fourth quarter. We achieved record revenue for the fourth quarter and full year 2018.”

    Elliot continued: “Our strong momentum continued after the important back-to-school season and through the fourth quarter, driving our growth to a company historic quarterly record of $12.0 million for the fourth quarter.

    We’ve successfully grown our sales pipeline across the U.S. and in key international markets including Europe and Latin America, which has resulted in the largest sales pipeline in our history.”

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    Business Wire summarized the key financial highlights for Q4 2018 that Elliot was referring to:

    • “Revenues increased by 125% to $12.0 million; greater than the previously projected $11 million
    • Gross profit improved to 25.2%
    • Operating loss decreased by 81% to $1.1 million
    • Key Financial Highlights for Full Year 2018:
    • Revenues increased by 47% to $37.8 million
    • Gross profit of 22.9% was impacted by lower product margins on interactive panels on two large projects in Beaufort, South Carolina and Clayton County, Georgia”

    In addition to strong Q4 earnings, the company announced numerous partnerships that could boost the stock in 2019. One partnership includes an agreement for a $4 million investment from The Lind Partners in the form of a convertible note with a 24-month maturity and a fixed conversion price of $4.00 per share.

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  • “The investment proceeds will enable the Company to execute its aggressive growth strategy and is expected to bridge operations to positive cash flow. Specific working capital initiatives include increasing inventory levels in the U.S. and Europe and completing the market launch of several new products including our Mimio MyBot coding and robotics solution.”

    Mark Elliot, CEO, concluded: “We see a significant opportunity to continue our growth trajectory well into the future through product introductions, growth in our re-seller network and strategic acquisitions.

    It is an exciting time at Boxlight with our mission to improve learning and engagement in classrooms, and to help educators enhance student outcomes. I want to thank our dedicated employees, our trusted customers and our supportive partners.

    While 2018 was a huge success, we know this is just the beginning. There is much work to do in delivering our best-in-class and award-winning interactive technology solutions for the global education market and continuing to build shareholder value.”

    Based on the chart below, it appears that investors could be optimistic about the future of BOXL.

    BOXL daily chart

    BOXL should be considered a buy if recent momentum continues.

    Look for an entry at $3.52 with a price target of at least $5.57 based on the pattern in the chart.

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