Boxlight Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>Boxlight Corp has filed its annual report for the fiscal year ended December 31, 2023.</b>

AI Summary

Boxlight Corp (BOXL) filed a Annual Report (10-K) with the SEC on March 14, 2024. Boxlight Corp filed its 2023 Form 10-K on March 14, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located in Duluth, Georgia. Boxlight Corp was formerly known as Logical Choice Corp. The company's SEC file number is 001-37564.

Why It Matters

For investors and stakeholders tracking Boxlight Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Boxlight Corp's financial performance, business operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: medium — Boxlight Corp shows moderate risk based on this filing. The company's financial statements and disclosures in this 10-K filing will reveal its current financial health, including revenue, profitability, and debt levels, which are critical for assessing investment risk.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Boxlight Corp's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-03-14 — Filing Date (Date the 10-K was filed)
• 001-37564 — SEC File Number (Boxlight Corp's SEC file number)

Key Players & Entities

• Boxlight Corp (company) — Filer of the 10-K
• Logical Choice Corp (company) — Former name of Boxlight Corp
• Duluth, Georgia (location) — Location of principal executive offices
• 001-37564 (other) — SEC file number
• 2024-03-14 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end

FAQ

Industry Context

Boxlight Corp operates in the educational technology sector, providing interactive display solutions and related software and services.

Regulatory Implications

As a publicly traded company, Boxlight Corp is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual reports on Form 10-K.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and strategies.
3. Examine the risk factors section for potential challenges and uncertainties facing the company.

Key Dates

• 2024-03-14: 10-K Filing — Annual report for fiscal year 2023

Year-Over-Year Comparison

This is the initial filing analyzed for the fiscal year 2023. Previous filings would provide comparative data.

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value BOXL The Nasdaq Stock Market
• $44 billion — .S. display market is expected to reach $44 billion by 2027. While the education sector has
• $32 billion — Capital Report that there has been some $32 billion in venture capital investment in the ed
• $10 — ric levels and is expected to reach USD $10 trillion by 2030." Increasing Focus on

Filing Documents

• boxl-20231231.htm (10-K) — 1684KB
• fifthamendmentcreditagreem.htm (EX-10.83) — 116KB
• boxl-20231231xexx231.htm (EX-23.1) — 2KB
• boxl-20231231xexx311.htm (EX-31.1) — 10KB
• boxl-20231231xexx312.htm (EX-31.2) — 10KB
• boxl-20231231xexx321.htm (EX-32.1) — 5KB
• boxl-20231231xexx322.htm (EX-32.2) — 5KB
• boxl-20231231_g1.jpg (GRAPHIC) — 313KB
• 0001628280-24-011246.txt (&nbsp;) — 10765KB
• boxl-20231231.xsd (EX-101.SCH) — 79KB
• boxl-20231231_cal.xml (EX-101.CAL) — 107KB
• boxl-20231231_def.xml (EX-101.DEF) — 423KB
• boxl-20231231_lab.xml (EX-101.LAB) — 896KB
• boxl-20231231_pre.xml (EX-101.PRE) — 656KB
• boxl-20231231_htm.xml (XML) — 1214KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 34

C

Item 1 C . Cybersecurity 34 Item 2.

Properties

Properties 35 Item 3.

Legal Proceedings

Legal Proceedings 35 Item 4. Mine Safety Disclosures 35 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36 Item 6. [Reserved] 37 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 47 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 47 Item 9A.

Controls and Procedures

Controls and Procedures 47 Item 9B. Other Information 48 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 48 PART III Item 10. Directors, Executive Officers and Corporate Governance 49 Item 11.

Executive Compensation

Executive Compensation 49 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 49 Item 13. Certain Relationships and Related Transactions, and Director Independence 49 Item 14. Principal Accountant Fees and Services 49 PART IV Item 15. Exhibits, Financial Statement Schedules 50 Item 16. Form 10–K Summary 58

SIGNATURES

SIGNATURES 59 2 Table of Contents

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K (including the section regarding Management's Discussion and Analysis and Results of Operations, the "Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These statements are based on our management's belief and assumptions and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Forward-looking statements include statements concerning the following

Forward-looking statements include statements concerning the following: our possible or assumed future results of operations; our business strategies; our ability to attract and retain customers; our ability to sell additional products and services to customers; our cash needs and financing plans; our competitive position; our industry environment; our potential growth opportunities; expected technological advances by us or by third parties and our ability to leverage them; our inability to predict, adapt to, or anticipate the duration or long-term economic and business consequences of the ongoing conflicts between Ukraine and Russia, and Israel and Hamas, or the COVID-19 pandemic; our ability to protect the Company against cybersecurity risks and threats; our ability to maintain the listing of our securities on a national securities exchange; the effects of future regulation; and our ability to protect or monetize our intellectual property. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements, because they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed in the reports we file with the Securities and Exchange Commission (the "SEC"). Actual events or results may vary significantly from those implied or projected by the forward-looking statements due to these risk factors. No forward-looking statement is a guarantee of future performance. You should read this Annual Report, the documents that we refe

BUSINESS

ITEM 1. BUSINESS We are a technology company that develops, sells and services interactive solutions predominantly for the global education market, but also for the corporate and government sectors. We are seeking to become a worldwide leading innovator and integrator of interactive products and software solutions and improve collaboration and effective communication in meeting environments. We currently design, produce and distribute interactive technologies including our interactive and non-interactive flat-panel displays, LED video walls, media players, classroom audio and campus communication, cameras and other peripherals for the education market and non-interactive solutions including flat-panels, LED video walls and digital signage for the Enterprise market. We also distribute science, technology, engineering and math (or "STEM") products, including our 3D printing and robotics solutions, and our portable science lab. All products are integrated into our classroom software suite that provides tools for whole class learning, assessment and collaboration. In addition, we offer professional training services related to our technology to our U.S. educational customers. To date, we have generated the majority of our revenue in the U.S. and internationally from the sale of interactive displays and related software to the educational market. We have sold our solutions into more than 70 countries and into more than 1.5 million classrooms and meeting spaces. We sell our products and software through more than 1,000 global reseller partners. We believe we offer the most comprehensive and integrated line of interactive display solutions, audio products, peripherals and accessories, software and professional development for schools and enterprises on the market today. The majority of our products are backed by nearly 30 years of research and development. Our website address is https://boxlight.com. Information available on our website is not a part of, and is not incorp

View Full Filing

View this 10-K filing on SEC EDGAR