Boxlight Corporation (NASDAQ:BOXL)

Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced a national distribution agreement with D&H Distributing, a Pennsylvania-based privately held North American technology distributor to the IT and consumer electronics supply channels.

D&H Distributing works with an extensive base of managed service providers, value added resellers, and independent resellers, with an emphasis on solutions and services for the small business marketplace, and a growing legacy in the K-12 and higher education spaces. The company continues to build its portfolio of professional audio video solutions, including interactive whiteboards, displays, projectors, and collaborative tools.

Boxlight’s comprehensive solutions empower both educators and students in all forms of learning, enabling real understanding and enhancing student achievement. Whether it’s whole-class learning, small-group collaboration, formative assessment, or STEM-based learning, Boxlight offers the services, software, and hardware that enable teachers to easily and effectively enhance student outcomes and build essential skills: critical thinking, collaboration, communication, and creativity.

"D&H shares our commitment to providing districts with technology solutions for the classroom through world-class distribution," said Daniel Leis, Head of Global Sales & Marketing at Boxlight. "They are a $4.4B distribution company with four regional distribution centers, placing Boxlight products two days from any school in the continental U.S. Their core strengths and capabilities to scale operations in a near unlimited manner makes them an excellent partner."

"Through this new agreement, D&H plans to drive Boxlight’s innovative solutions in the enhanced-learning classroom through its partner community, providing a complete solution to meet their business needs for hardware, software, and installations with the help of the distributor’s AV sales specialists and solution architects," said Peter Hurley, director of D&H’s ProAV Business Unit. "Their selection of high-performance collaborative learning tools makes for a compelling roster of solutions for our partners in this market."

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced that Nederland, Texas Independent School District selected Boxlight to outfit hundreds of classrooms with the latest interactive education technologies. Visual Techniques, Inc., a highly regarded reseller, will manage the installations.

The initial order for 70 ProColor interactive flat panel displays on height adjustable stands providing flexible learning for all instructional needs and the award-winning MimioStudio educational software has been installed in four Elementary Schools and two Middle Schools. When Nederland ISD completes its installation, the district will have close to 230 new 75” ProColor panels installed district-wide that all include MimioStudio software. The display panels’ Touch 360° interactivity features up to 20 single-touch points or 10 dual-touch for gestures — users can work simultaneously, driving collaborative learning.

To fund the transformation, the district is using a $151 million bond passed in May 2019 and the support of its board and community to fuel Nederland’s technology initiative. In selecting the right technology partner and products, Laird chose to work with Visual Techniques and Boxlight. The multi-year project and implementation timeline has been executed on schedule and met with the approval of key stakeholders. “We pick our education partners carefully, and we make sure those partners have product development, product support, and user-friendly interfaces,” said Cynthia Laird, Director of Instructional Technology. “The fact that Boxlight’s interactive touch panels are 'plug-and-play' and easy to use goes a long way toward ensuring teacher adoption and student usage.”

Following a careful selection process, Boxlight stood out as the school’s preferred technology partner due to its commitment to improving student outcomes, quality customer support, as well as MimioStudio’s ability to adapt to the schools existing digital resources. “The seamless integration from SMART Notebook to MimioStudio gave our teachers a high degree of confidence. They have spent years creating resources and to be able to transfer them over to MimioStudio without disruption meant that our staff felt reassured every step of the way,” said Laird.

“The district will be adding a new High School in the coming years and Boxlight panels will support Nederland Independent School District, serving over 5,100 students, in their mission to transform their classrooms into 21st Century learning environments where students are productive, engaged, creative, and ready to succeed in post-secondary education and modern-day careers,” said Executive Vice President of Boxlight, Pat Henry.

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced its entry into a funding agreement for gross proceeds of $750,000 (the "Investment") with Lind Global Macro Fund, LP, an investment fund managed by The Lind Partners, a New York based institutional fund manager.

With this additional $750,000 Investment, Lind Global Macro Fund, LP has provided a total of $6,000,000 in net investment proceeds to Boxlight during the previous 12 months.

"We are fortunate to have a supportive investment partner during this critical stage as a company," said Chief Executive Officer of Boxlight, Harold Bevis. "Proceeds from The Lind Partners investment will increase our working capital and allow us to execute our strategy of revenue growth and improved earnings. We are committed to increased market penetration and delivering value to our shareholders, while improving education outcomes in classrooms globally."

"Boxlight is positioned to be a leader in K-12 education with their award-winning solution suite, experienced management team and global partner network," said Phillip Valliere, managing director at The Lind Partners. "We are supportive of management’s vision and are committed to continue to support the company as their long-term capital partner."

The Investment is in the form of a $825,000 convertible note with a 24-month maturity, 8% APR and a fixed conversion price of $2.50 per share of Boxlight’s Class A voting common stock. Principal payments are due in 18 monthly installments beginning August 2020. Under the terms of the note, Boxlight has the right to make principal and interest payments in the form of either cash or Class A common stock.

Boxlight also has the right to prepay the convertible note at any time without penalty (the "Buy-Back Right"). Should Boxlight choose to exercise its Buy-Back Right, The Lind Group will have the option of converting 25 percent of the outstanding face value into shares of Boxlight Class A common stock.

The convertible note is secured by a lien on all Boxlight assets.

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced that South Carolina’s Anderson School District One plans to partner with Boxlight in outfitting hundreds of classrooms with the latest interactive education technologies. Howard Technology Solutions, a highly regarded reseller, will spearhead the installations.

The decision by the district to replace existing interactive technologies with Boxlight’s interactive solutions followed a formal evaluation; where a number of other vendors were evaluated. The selection committee based their decisions on Boxlight’s ability to migrate their existing Smart Notebook lesson plans, eliminating costly annual software license fees, as well as its ability to foster next generation teaching and learning spaces that support engaging whole-class and small-group instruction designed to drive improved student academic outcomes.

“The district will be adding two new middle schools and adding new wings to many other schools – so standardizing on our Boxlight panels will support their initiative to transform all of their classrooms into powerful, technology-rich learning environments,” said Chief Executive Officer of Boxlight, Mark Elliott. “Our technology will give the students the HD experience they are so accustomed to outside of the classroom and bring it into their learning environments where increased critical thinking, creativity, communication, and collaboration can happen.”

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Boxlight Corporation (Nasdaq: BOXL) (“Boxlight”), a leading provider of interactive technology solutions for the global education market, today announced that it has entered regional reseller agreements with two new partners, Superior Fiber & Data Services Inc. in Texas and AV Associates which operates in Nebraska, Kansas and Iowa.

Effective immediately, these companies will be selling the full array of Boxlight solutions and products to districts seeking classroom technologies that help students learn more effectively and develop the essential skills they need for success.

Superior Fiber & Data Services, Inc., an MWBE/HUB Woman-Owned Business based in the Dallas/Ft. Worth area, has been in business for over 21 years and is recognized as an industry leader in the installation and maintenance of low voltage voice/data and fiber optic network infrastructure. Having a strong presence in the K-12/Higher-Ed vertical market space and dealing with the ever-growing client demand for Audio/Video (AV) solutions in those spaces and in commercial business applications, the company added an AV division to support its extensive client base with the latest technologies and solutions in 2017.

AV Associates of Nebraska is one of the fastest growing AV-IT Technology providers in the US. With 15 years in the industry, the company has a strong presence in multiple markets, providing sales, product recommendations, demos and service.

“Both companies share our dedication to providing districts with affordable technology solutions for the classroom,” said Mark Elliott, CEO of Boxlight. “That, along with the trust and relationships they have built with educators through their many years of serving schools, makes them excellent partners as we move forward.”

Superior Fiber & Data Services, Inc., Vice President Randy Fuller added, “We are very excited to partner with Boxlight and be able to offer their high-quality interactive display solutions to our clients. Partnering with best-in-class companies has attributed to the growth of our firm over the years and helped establish our impeccable reputation in the marketplace. I am confident that this relationship will be beneficial for Boxlight and our firm alike, but most importantly our clients as we continue to deliver the latest technologies that are required in today’s classrooms.”

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--

Boxlight Corporation (BOXL) (“Boxlight”), a leading provider of interactive technology solutions for the global education market, has been selected to install interactive flat panels and other interactive technologies in districts in Texas, Georgia and Michigan totaling more than $750K in anticipated revenue for the company. The new sales include:

• West Orange Cove Independent School District in Texas ordered over 140 interactive flat panels through Boxlight reseller partner Visual Techniques Inc (“VTI”).
• Owosso Public Schools in Michigan, through Boxlight reseller partner Digital Age Technologies, Inc. (DAT), ordered more than 110 interactive flat panels. Owosso also ordered 90 units of the MimioClarity™ classroom audio distribution system.
• Jenkins County Schools in Georgia placed an order for interactive flat panels totaling more than $25,000

Today, Boxlight offers the most comprehensive, integrated solution suite available for the modern classroom including the ProColor Series 3 interactive Flat Panel Display and the MimioClarity™ classroom audio distribution system. The ProColor interactive display features state-of-the-art, ultra-high definition (4K UHD) resolution and up to 20 points of touch for users’ fingers or styli and includes the MimioStudio™ classroom software. MimioClarity captures the teacher’s voice via a light-weight wearable wireless microphone, amplifies it or multimedia audio with a multichannel 60-watt amplifier, and then evenly distributes the sound through two or four speakers strategically placed on classroom walls.

“Boxlight is dedicated to creating the world’s best interactive classroom technologies to improve the classroom experience for both students and educators,” said Mark Elliott, CEO of Boxlight. “These school integrations show that more and more districts across the United States are seeing and placing faith in our level of quality.”

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--

Boxlight Corporation (BOXL) (“Boxlight”), a leading provider of interactive technology solutions for the global education market, today announced a national reseller agreement with Sussman Education, a New York City-based provider of K-12 education materials.

Sussman Education represents a diverse group of education technology providers and publishers in the New York tri-state area and several large US markets. The partnership allows Boxlight to leverage Sussman’s extensive expertise, reach and relationships towards furthering Boxlight’s reputation for improving student learning. As of October 1, the company will sell Boxlight products to schools and districts seeking classroom technologies that help students learn more effectively and develop the essential skills they need for success.

“Sussman Education shares our dedication to providing districts with affordable technology solutions for the classroom,” said Mark Elliott, CEO of Boxlight. “That, plus the accolades and the reputation they have built with educators through almost 50 years of providing schools with resources required to help students succeed academically, socially, emotionally, and physically, makes them an excellent partner.”

“Through our Boxlight partnership, we have access to a full complement of solutions to help school systems make the critical transition to daily technology enhanced instruction,” said Steve Sussman, President, Curriculum. “We are excited to be working with a company that shares our vision of improving achievement for all students.”

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--

Boxlight Corporation (BOXL) (“Boxlight”), a leading provider of interactive technology solutions for the global education market, today announced a national reseller agreement with Virtucom, a leading educational technology solutions provider based in Georgia.

“Virtucom shares our dedication to providing districts with affordable technology solutions for the classroom,” said Mark Elliott, CEO of Boxlight. “That, plus the trust and relationships they have built with educators through 24 years of providing schools with technology infrastructure, support, and training in order to help every student succeed, makes them an excellent partner.”

Virtucom provides personalized IT technology solutions to public and private school systems. Beginning in June, 2019 the company will be authorized to sell the complete line of Boxlight solutions and products to districts seeking classroom technologies that help students learn more effectively and develop the essential skills they need for success.

“At Virtucom, while our mission is to provide technology solutions and services to schools and districts throughout the country, our motivation and dream is to enhance the learning experience for both students and teachers,” said Tim Prince, Director, Business Development. “With our Boxlight partnership, we are able to broaden our reach by providing technologies paired with our services, bringing us one step further in our journey.”

LONDON--(BUSINESS WIRE)--

Bahwan CyberTek (“BCT”), a global supplier of digital transformation solutions, today announced a new partnership with Boxlight Corporation (BOXL) (“Boxlight Mimio”), a leading provider of technology products within the international education market. The partnership will see BCT bring Boxlight Mimio’s award-winning classroom solutions to the Middle East, with exclusive rights to the Oman market.

“While the world has become flat, technology has started playing a major role in our lives. Education is no exception to it and the fantastic technologies from Boxlight Mimio will make it easy for teachers to transfer knowledge and provide an immersive learning experience for students,” says T.M. Sathyanarayana, Sr. Vice President – Education & Training at BCT. “We are excited to bring Boxlight Mimio’s technology products to the Middle East.”

Powering over one million classrooms across the globe, Boxlight Mimio is committed to improving student engagement and learning outcomes by providing teachers the tools they need for 21st Century education.

The partnership comes as Boxlight Mimio announces further investment into the Middle East, having recently exhibited at the GESS education conference in Dubai; and launched an Arabic language website, tailored for their customers in the region.

“In today’s classrooms there is an ever-increasing need to engage students in their learning experience,” says Matt Hunt, Head of Sales EMEA at Boxlight Mimio. “All schools want to select the best interactive hardware and software tools that suit the needs of their students, teachers and budgets. This alliance with BCT delivers on these essentials and seamlessly brings together Boxlight Mimio’s highly acclaimed products with BCT’s in-depth knowledge and experience of what educators in the Middle East need in this ever-changing education landscape.”

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced it has completed the acquisition of Modern Robotics, Inc. (“Modern Robotics”), a Science, Technology, Engineering and Math (STEM) education company with programing and robotics solutions for the K-12 education market.

Modern Robotics are the developers of MyBot, a powerful and innovative K-12 ecosystem and robotics program that helps students from pre-school to high school develop skills and a passion for programming and robotics. Through the cohesive software platform and innovative robots, educators receive an out-of-the-box solution, complete with a robust curriculum, STEM lessons, tutorials and videos.

“We are excited to expand our offerings in the red-hot field of STEM and robotics learning,” said Mark Elliott, CEO of Boxlight. “MyBot was conceived and developed to fulfill a need in robotics and coding in the classroom. By bringing these cutting-edge teaching tools to educators, we help them engage today’s students in meaningful learning experiences that will create graduates who are workplace ready in emerging STEM fields including software, robotics and technology.”

Over the next 12 months, it’s expected that Boxlight will produce over $2 million in robotics and programming revenues with gross profit margins greater than 50 percent. The acquisition also brings significant management talent to Boxlight by adding Modern Robotics’ current CEO Stephen Barker, who will fill the role of Vice President, STEM Education. Barker has more than 30 years of extensive experience in robotics and technology innovation, including developing sensors and components for Lego Robotics, and brings an incredible wealth of brain trust to Boxlight’s growing STEM offerings.

“We developed these robotics and coding tools to fulfill a need in education – to create more meaningful, hands-on learning opportunities in STEM for both teachers and students, and to make coding and robotics cool and not complex,” stated Barker. “Now with Boxlight, we can take these products to the next level and distribute them on a global scale. We’ll engage a whole new generation of students with our products - which in the end will go a long way in helping prepare students for a myriad of STEM careers and the general workforce of the future.”

Third Quarter 2018 Financial Results

• Revenue of $10.2 million was flat with the third quarter of 2017.
• Net loss was $(1.2) million, or $(0.12) per diluted share, compared to net income of $0.5 million, or $0.08 per diluted share, in the third quarter of 2017. Adjusted EPS was a loss of $(0.11) per diluted share compared to a gain of $0.14 per diluted share in the third quarter of 2017. The increase in the net loss and net loss per diluted share was primarily due to an increase in cost of sales, commissions, stock compensation expense and professional fees.

“Momentum was strong through the important back-to-school season, helping drive a 27% year-over-year increase in revenues for the first nine months of 2018,” commented Mark Elliott, Chief Executive Officer of Boxlight. “Additionally, we ended the quarter with $5.7 million in deferred revenue of which we expect to recognize over $4 million in the fourth quarter. During the quarter, we provided Boxlight’s products to thousands of classrooms across the U.S., including new installations in McMinn County Schools in Tennessee, Huntington Beach City Schools in California and Connellsville Schools in Pennsylvania.”

“We also continue to expand our reach in key international markets including Europe and Latin America. We’ve successfully grown our sales pipeline in those markets, and are pleased to enter the fourth quarter with the largest sales pipeline in our history.”

Mr. Elliott concluded, “We are projecting the fourth quarter of this year will be the strongest in our history with over $11 million in revenue. Importantly, we see a significant opportunity to continue our growth trajectory well into the future through product introductions, growth in our re-seller network and through strategic acquisitions. It is an exciting time at Boxlight. Our mission to improve learning and engagement in classrooms, and to help educators enhance student outcomes, is taking hold as we continue to grow our reach and relevance in classrooms around the world.”