November 25, 2012 – Boxlight Corporation, a leader in providing technology solutions for the global learning market, is helping educators and students get more out of their learning experience. The company develops, sells, and services their suite of integrated and interactive classroom solutions.
Steady Growth
Since 2016, the company has increased not only their unique suite of products but also their revenues. From the acquisition of Mimio Connect to Sahara Presentation Systems, the company’s growth strategy is starting to come together. Boxlight states that their goal is to “enable teachers to easily and effectively enhance student outcomes and build essential skills such as critical thinking, collaboration, communication, and creativity.”
The company aims to do this through their various classroom solutions such as the Mimioframe Touchboard Kit, Interactive Flat Panel Displays, and Mimio Microcloud Classroom Content, to name a few. These creative solutions in addition to their suite of products are enabling teachers to put together modern classroom curriculums made for the 21st century. The ultimate goal of Boxlight Corporation seems to be classroom integration where modern technology is used to gather and analyze data for the benefit of enhancing student learning.
Revenues of Boxlight Corporation
The company has demonstrated steady revenue growth for the past three years but have yet to make a profit. With the recent acquisition of Sahara Systems Presentations for $94.9M USD, the company looks to speed up their growth trajectory
Sahara Presentation Systems, located in the United Kingdom, is a leader and distributer of AV products and a manufacturer of multi-award winning touchscreens including the renowned Clevertouch and Sedao brands. At the time of acquisition, Michael Pope stated that the two combined companies would generate more than $100M USD in sales.
I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognized companies in education technology. The Sahara acquisition expands our geographic reach – particularly in the EMEA region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent. We are committed to achieving dramatic growth, both organically and through acquisitions, and we are delivering on that promise. The combined companies are generating greater than USD 100 million in sales and are highly profitable. I look forward to reporting our consolidated financial statements in future quarters.”
– Michael Pope, CEO of Boxlight Corporation
Debt Levels
At the end of September 30th 2020, Boxlight Corporation had $124M in assets and according to their 10-Q report, total liabilities of $51M. Total assets outnumber total liabilities by a 2-1 ratio which is attractive. With the recent raises of more than $34M, the company seems in a good position to service their current level of debt.
Management Team
Boxlight is led by Michael Pope, a venture capitalist who has been with the company since 2014. Michael has seen the steady growth of Boxlight and has several years of experience in the education sector.
The Chief Operation Officer is Hank Nance who also has been with the company since inception. However, he began his career with the Boxlight Group in 1999 and has several years experience in development, corporate relations and negotiations.
Takesha Brown is the Chief Financial Officer for Boxlight Corporation. She was appointed to the CFO position on March 25th, 2018 and has several years of accounting experience.
Industry Potential
The growth of the e-learning industry has been accelerated by Covid-19. The market grew 36.3% in 2020 and is expected to reach a total of $499.1 billion by the end of the year, according to a report by “Global E-Learning Industry.” From a post Covid-19 perspective, it’s predicted that the market will grow at a pace of 10.3% a year from 2021 to 2027. This is surely welcomed news for Boxlight Corporation who is hoping to dominate the e-learning space.
Looking To the Future
Boxlight Corporation continues to grow at a steady pace but has yet to make a profit. With the acquisition of Sahara Presentation Systems, the company hopes to expand their growth at a faster pace.
Disclosure: I am/we are long Boxlight Corporation. This article was written by our staff and expresses our own opinion. We are not receiving compensation for it. We have no business relationship with any company that is mentioned in this article.
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