Boxlight Corp (NASDAQ:BOXL) Q2 2022 Earnings Conference Call August 11, 2022 4:30 PM ET
Company Participants
Michael Pope - CEO & Chairman
Gregory Wiggins - CFO
Conference Call Participants
Jack Aarde - Maxim Group
Operator
Thank you, and welcome to the Boxlight Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. 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 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 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 GAAP financial measures 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 will hand the call over to Boxlight's Chairman and Chief Executive Officer, Michael Pope.
Michael Pope
Hello, everyone, and thank you for joining today. I'm happy to report our Q2 financial performance of $81 million in customer orders, $60 million in revenue and $5.2 million in adjusted EBITDA, exceeding our guidance for the quarter. We also ended Q2 with $56 million in back orders, the strongest order pipeline in our history and a healthy balance sheet, including $12 million in cash, $45 million in inventory, $54 million in working capital and $44 million in net assets. We further supplemented our working capital position subsequent to quarter end through a $5 million equity offering, as was required by our senior lender.
On a go-forward basis, we expect to generate positive cash flows from operations and currently have no plans for additional fundraising. We are experiencing strong demand for our solutions globally, particularly in the United States, Puerto Rico, Western Europe and Australia, and we expect to continue to deliver double-digit revenue growth over the next several quarters.