Boxlight Corporation (NASDAQ:BOXL) Q2 2019 Earnings Conference Call Transcript

Aug 13, 2019 • 04:30 pm ET

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Boxlight Corporation (NASDAQ:BOXL) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Boxlight Corporation's Second Quarter 2019 Earnings Results Call. [Operator Instructions]

At this time, it is my pleasure to turn the floor over to your host, Stephen Hart with Hayden IR. Sir, the floor is yours.

Executive
Stephen Hart

Thank you, and welcome to the Boxlight's Second Quarter 2019 Earnings Conference Call. By now everyone should have access to the earnings press release, which was issued earlier today after the market close approximately 4:00 pm Eastern.

This call is being webcast and is available for replay. In our remarks today, we will include statements that are considered forward-looking within the meanings of securities laws, including forward-looking statements about future results of operations, business strategies and plans, our relationships with our customers, market and potential growth opportunities.

In addition, management may make additional forward-looking statements in response to your questions. Forward-looking statements are based on management's current knowledge and expectations as of today and are subject to certain risks and uncertainties and may cause the actual results to differ materially from the forward-looking statements.

A detailed discussion of such risks and uncertainties are contained in our most recent forms 10-Q, Form 10-K and in other reports filed with the SEC. The company undertakes no obligation to update any forward-looking statements. On this call, we will refer to non-GAAP measures that when used in combination with GAAP results, provide us with additional analytical tools to understand our operations. We have provided reconciliations to the most directly comparable GAAP financial measures in our press release, which will be posted on the Investor Relations section of our website at investors.boxlight.com.

And with that, I'll now hand the call over to Boxlight's CEO, Mark Elliott. Mark?

Executive
Mark Elliott

Thanks, Stephen, and good afternoon, everyone. We're excited to speak with you all again. We closed a record second quarter with customer orders of $15 million, revenue of $11.1 million, $5 million in backorders, gross profit of 29.4%, and the successful launch of several new solutions. Our revenue growth, improved margins and introduction of new products and services have positioned us for a solid 2019 and beyond as the K-12 classroom continues to evolve with interactive learning technologies and our products and services are at the forefront of this technology transition.

We continue to rollout previously awarded projects and see an abundance of new RFPs and opportunities.

Additionally, we had an outstanding ISTE 2019, the largest education conference in North America with nearly 20,000 attendees, where we were recognized by Technology & Learning Magazine with best of ISTE 2019 award for our MyBot STEM solution and also for MimioClarity, our audio suite of products, both of which we feel will be significant contributors to our bottom line and growth in the future.

At ISTE, we unveiled our next generation of cloud-based solutions for both Boxlight and Qwizdom with outstanding reviews from our customers and channel partners. We are quite proud to have Clayton County schools continue our approach of letting our customers tell our Boxlight