Boxlight Corporation (NASDAQ:BOXL) Q3 2022 Earnings Conference Call November 9, 2022 4:30 PM ET
Company Participants
Michael Pope - Chairman and Chief Executive Officer
Mark Starkey - President
Greg Wiggins - Chief Financial Officer
Conference Call Participants
Brian Kinstlinger - Alliance Global Partners
Jack Vander Aarde - Maxim Group
Operator
Thank you and welcome to the Boxlight Third Quarter 2022 Earnings Conference Call. By now, everyone should have access to the press release issued this afternoon. This call is being webcast and is available for replay. The remarks today will include statements that are considered forward-looking within the meaning of securities laws, including forward-looking statements about future results of operations, business strategies and plans, customer relationships, market trends 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 that may cause the actual results to differ materially from the forward-looking statements. A detailed discussion of such risks and uncertainties are contained in the company’s most recent Form 10-K, Form 10-Q and other reports filed with the SEC. The company undertakes no obligation to update any forward-looking statements.
On this call, management will refer to non-GAAP measures that, when used in combination with GAAP results, provide additional analytical tools to understand the company’s operations. The company has provided reconciliations to the most directly comparable names in the earnings press release, which will be posted on the Investor Relations section of the company’s website at boxlight.com.
And with that, I’ll hand the call over to Boxlight’s Chairman and Chief Executive Officer, Michael Pope.
Michael Pope
Hello, everyone and thank you for joining. Also on the call are Mark Starkey, our President; and Greg Wiggins, our Chief Financial Officer. Mark is joining us from London, and Greg and I are joining from our corporate office here in Atlanta.
The third quarter was our strongest to date with $69 million in revenue and $10 million in adjusted EBITDA. Revenue grew by 13% and adjusted EBITDA by 38% over the same quarter last year. We have delivered double-digit or greater revenue growth for 8 consecutive quarters and continue to gain meaningful market share globally. Recent movements in foreign exchange rates have impacted our financial results, specifically the weakening of the pound and the euro against the U.S. dollar. If foreign exchange rates had held constant during the quarter, we would have reported greater than our guidance of $70 million in revenue and $10 million in adjusted EBITDA.