Boxlight (BOXL) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $25.9M, down 16% year-over-year, mainly due to lower audio unit sales during a product transition.

• Gross profit increased 19.7% to $12.9M, with margin boosted to 49.8% by a $2.8M tariff refund.

• Net income for Q2 2026 was $0.5M, reversing a net loss of $4.7M in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $4.1M, up from $1.3M in Q2 2025.

• Operational efficiency improved through cost structure alignment and product portfolio enhancements.

Financial highlights

• Q2 2026 gross margin was 49.8% (38.9% excluding the tariff refund), up from 35.0% in Q2 2025.

• General and administrative expenses decreased to $8.4M (32.2% of revenue) from $11.0M (35.6%) YoY.

• Interest expense fell to $1.1M in Q2 2026 from $2.6M in Q2 2025.

• Ended Q2 2026 with $4.3M in cash and negative $4.0M working capital.

• Debt outstanding: $32.2M–$34.1M, classified as short-term due to covenant waivers and maturity within 12 months.

Outlook and guidance

• Management expects the slowdown in audio sales to be temporary as customers transition to the new Symphony product line.

• Global unit demand for 2026 expected to remain consistent with 2025, indicating market stabilization.

• The company is focused on operational efficiency, expense reduction, and revenue diversification.

• Ongoing efforts to secure additional liquidity include a $15M equity line of credit and recent preferred stock financing.

• Recovery in spending anticipated as deferred demand returns, supported by technology refresh cycles and digital learning trends.