BOXL - Earnings call transcript Q4 2021

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Operator

Thank you and welcome to the Boxlight Fourth Quarter and Full Year 2021 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.

to on are knowledge and subject may actual based of expectations uncertainties are the cause and from today, to results statements management's and current as and forward-looking Forward-looking statements. materially differ certain risks uncertainties of most the XX-K, XX-Q and Form filed reports contained and in A detailed other risks with are discussion Form such company's recent the SEC. obligation to statements. update forward-looking no any undertakes company The provide combination additional - call, tools GAAP to measures with management GAAP used when this the results, On understand non in analytic to company's will that refer operations. measures most website The company's the company to will Investor reconciliations release, has the be the of at press provided investors.boxlight.com. directly Relations the comparable posted section on GAAP financial earnings which in Chief Michael With Executive that, hand Chairman Officer, call I'll Pope. the over to and Boxlight's

Michael Pope

the rising the Ukraine, war costs, today, volatility significant for and in and interactive uncertainty rapid everyone, equity COVID-XX, world in solutions chain with you our thank with with including inflation, energy Hello, concerns battle outlook call. continue continued and Despite for growing ongoing markets, positives. supply joining and our an logistic is in see demand we overwhelming global to growing overall challenges, the

trend, for capital. We or double-digit greater positive revenue improved significantly consecutive have quarters, a growth profitability reported and working five

of two loss orders, $X with reported million. $XX Just years an the in EBITDA we results $XX million and million prior, full-year XXXX adjusted in revenue,

strategic dramatically We acquisitions. and a larger are expansion, from company benefiting market today both

on a adjusted and in in XXXX, combined $XX year million revenue orders, we full the in $XXX EBITDA. with million For proforma basis FrontRow, $XXX generated million

product position top aim an to in competitors the are We key gaining each our of our industry categories. with achieve

The delivered XX. guidance million the FrontRow, in financial acquisition $XX December our excluding results million were XX% on included XXXX. statements FrontRow fourth revenue, in reported we QX and exceeding of of our not because For growth the of financial completed over the of quarter fourth quarter $XX organic we

complete to financing, one-time operating costs experienced However, inflated to the incurred expenses. we related acquisition due significant and

impacting our supply costs Additionally, and margin. logistics chain profit gross during the quarter, remained high

As adjusted in $X we working and an We net quarter quarter $XX sheet, fourth $XX million $XX of million expenses, of fourth concluded loss with in assets. a the these additional capital, including million. cash, result improved million a reported in balance EBITDA

For experiencing the guidance we current and as adjusted have our are our and pipeline, million in well customer stronger-than-expected growth revenue year, for intake to year order the sales EBITDA. as full million in lifted $XX $XXX in

EBITDA. formerly of in campus For QX, The $XX closed market. adjusted December XX, $X working classroom is $XX $XX FrontRow, leading education in audio million million, in a net expect we the we the solutions million for acquired acquisition million On price of communication capital. of and revenue purchase and provider

for strategic the generated EBITDA. solutions identified We XXXX EBITDA a audio was opportunity, $X company valuation clear our FrontRow less very top the at attractive million resulting had to as classroom growth campus and than adjustments, fit. transaction greater was Given prior than Xx in

with benefiting our our company and We a are channel. Boxlight solution sales now along suite resources ecosystem combined the broader and into reseller global integrating from

to competitive significant expand campus, entire advantage. with in throughout video also our position and are an systems We audio integrated a a fully communication

facility $XX.X on Capital than $XX we White revenue million December full million contribute Also the For from FrontRow year expect to in we Hat $X loan XXst, XXXX, greater EBITDA. and million the in capital. secure acquisition, $XX Sallyport existing and funding the refinance for general million debt in Management, provides Commercial to working Global FrontRow The Asset providing and borrowing. additional an complete allow Finance Lind Partners, with

School education Schools a Cardiff and of Academy They District implementation STARCAR in Public Metropolitan Rental Unified U.K., U.S. broad of published in detail we Germany. to QX, Boxlight the and the range University High included XK in Ord studies and During environments. successful enterprise and the solutions and Quarrydale Phoenix

of school in Schools, largest the our with fifth relationship County strong Public featured studies Georgia. our district Clayton case One

renewed closely the and for We development with have training working contracts professional staff to Clayton are year. our districts County with a provide third teachers with and support and customized

education Clevertouch story, our Chamberlain showcasing utility interactive success College competitor under-performing CM platform. upgraded content and flexible signage UK panels Another our our and displays, digital was and the screens featured along higher Joseph from to management customizable in impact series with live,

we our turnkey and and can reaffirm that success our are stories solutions cutting-edge, diverse trusted fully Clevertouch Best customers case communication XXXX. in have to the two for awards best touch accolades and environment. be impact show integrated digital screen studies providing a for our during many dedication Clevertouch be to for industry received to interactive brand Adding in Our a show ally @Info.com comprehensive won lives. signage leaders, by from the in QX plus

and web blended MimioConnect via and feature non-interactive ability to product We others. sensor enhancements generation flat education lesson and panels, Including to innovate screen-sharing of to air monitor spaces technologies from updates continue the software, Clevershare annotation and app competition. X our to that improved learning whiteboard the tools additional tools access meeting release a our additions links addition quality browser, Cleverstore a our using among plans to new and X, and several differentiate interactive the of platform, us

of our that, and growth along to and With deliver Of call success direct is the with partners. and to over additional this supportive talented ability Mark I to our Starkey course, result will now our a point channel turn dedicated to our President, insights. our continue provide profitability to employees

Mark Starkey

QX on I Patrick's who have take this for like Boxlight, Day to And and stuff you, customers and our to everyone the quarter. contribute success the Happy opportunity all quarter our our Michael. to thank Thank I'd would say like record to helped during call. was another Saint to

million same growth $XX orders from That last the from for of year-on-year. During QX, of booked year. partners, represents our we $XX million period up organic XX%

with compared was million $XX full the million XXXX, growth. year, year-on-year For XXX% $XXX in intake representing our order

DK included of Speechi, further This orders $X.X source. and sold we from largest $X.X received in partner, $X.X Roche had from diversity UK, for we IPD Unit share, for IDMS. ASI. we of a million significant from Tennessee two the greater our U.S. Data million during Some X% XX% and $X.X Technologies $X.X $X.X IFPD from Projections million, Advanced million, million continue one especially where retain in of Technologies, Central AV, but Distributing where market In XX% orders a Australia, million from future interactive hold displays. of the customer from over the the $X.X Texas, quality market ACT received the the In $X.X in from million of market receive share we over more have and our $X.X to including In of orders interactive and previously and years our displays market the $X.X based Bloom in the we [Indiscernible] and to Overall, and our has XXX name according EMEA. from share than to U.S. number doubled U.S. we of Denmark, highlights to the orders orders position quarter million our million, XX% partners key than partner, across share share million Classroom from of France, for of DNH few. our total past base, received in

We South and are America. Australia, also developing very Africa, successful partnerships South in

Japan the was for first QX, our also have with major where with in we ease-of-use we our Russia, devices. our Apple our Clevertouch solution selected temporarily Petersburg. business win During partner in student suspended St. relationship had In

war and the as in Ukraine. Although our we a result in do of revenues not expect growth any significant impact

a U.S. just expense that As XX previously currently means million states of qualified both U.S. significantly. XX was of $XX mentioned, only trading in over with quarter the QX signed actively now Canada, This all the rights a opportunities. who Clevertouch over whereas of the in Clevertouch few ago, was in contract increasing flew Clevertouch with expanded sold in states, a substantially largest XXX including now is has heads I number the between Trucks. in We XX to XX actively states. into K-XX which being our Canada. two present on T&E September well sales the our and and being sold salespeople all from in was gives practically states very we channel across exclusive and in new our with are heads. marketplace. contract our partners, by XXXX, partners. fits gives a report the merger IPD Bloom that exclusive contract Bloom, XX can are U.S. Clevertouch, selling our for brands, now portfolio and pipeline our fantastic Mimio the sell FrontRow of of Clevertouch of solution us acquisition first Trucks, The audio months to The

gross our will the collective to be XXXX. will importantly improve will our that to anticipate profit, more acquisition expect -- revenue accretive which more throughout We continue and to we be

$XX increase the in adjusted gross EBITDA As XXXX. than of with XX% a we top-line profit adjusted more this along sales for expect in in million margin to year. equates growth result That organic EBITDA growth,

ISD was our In across wins. in Texas, a order over solution the take quarter alerts because total, Clevertouch XXX partner whole Midland Switzerland, Clevertouch predominantly terms screens. the Midland of selecting via continue to impact city out we of. screens. They for that -- the win roll X,XXX our of with to district. end-users, In MDM another Clevermessage we notable school push buy screens an of the from schools to received One Clevermessage ISD expect had local across where enabling reason solution, In fantastic our main for we continue was to because Midland district. plus our XX-inch we the panels our solution noted

curriculum is gain Poland XXX an is to Our content XD MyStemsKit and also ease. business country. stem There XX,XXX are activity, order to required restrictions least platform, have In including to at schools as schools the two across printers, traction XD be received of begin and school each starting printers. COVID to Poland, in we supplied to

in educational the to coming the further we orders recommended was solution authorities. expect quarters. significant And Polish Our

million the embedding software into software SaaS school and our districts, OEM new we as our and own selling Our solutions as software Mimio and and Clevertouch to a on to revenues of strategy well pursue Okta such line Samsung, our dual customers as as agreements continued products. rise

million to $X.X OEM in million XXX% order XX% Our XXXX software over our of XXXX. to OKTOPUS in increase $X.X and million in revenues in of XXXX as million XXXX. revenues $XX,XXX $X from first of from Combined March million XXXX to MimioConnect Mimio following from grew increased XXXX. in in XXXX software An X.X software year-on-year, increased sales by in $X.X

past and on We had Google that also September in since thousand known Analytics, had XXXX unprecedented have have we've months version cloud-based delivered with on new the more XXX being to link first XX an average in duration since of links our links, launch, launched whiteboard than launched. five in response. equates a of the Using live platform XX months was That we sessions whiteboard an of years five each. minutes lessons

confident therefore we suite enables ways million first solution growing than of at of we solution its products order, are Ultimately, linked summary, of differentiate fact the the very terms the QX the in monetize in one from that market. over a And IT, our lessons was the platform will quarter We delivering the forwards. own best intake, software year. In competition. moving look more And to [Indiscernible] us in strong our a revenue. to and

look our now partnerships I Foley. and in the call develop to globe the to will CFO, quarter lines and to another continue turn over that, record I the our with key Patrick across QX We forward

Patrick Foley

good which $XX you've by I revenue or the was the XX%. in would $X.X and million. total from is international To was operations. To everyone. to like UK few The represent country $XX.X and X%, Boxlight and $XX.X to Mark. which provide QX in was XX% approximately million Michael Australia. revenue the EMEA of ten what America Mark, figures world’s rest add expand customers our top total region, sales million, of mainly XX% QX. heard represented and a Thanks, to XX%, million, afternoon The of context further already on

Denmark, was of markets, With approximately are this largest the is number XX the and U.S., across approximately slightly to Australia, different The the customers that's mix around Spain. namely where top customer, Finland, based where France, and these X% XX%. running single XX%, previous a represent quarters

all The slightly of XX%. balance and our revenues higher. have solutions. related software, for flat The XX%. hardware displays of of from and balance coming which the quarter panel total margin the product STEM proportion IFPD sales at sales being this interactive largely QX, For XX% of were was revenues Gross total represented been mix total and about in was our largest the margin XX%, services, of remained would XX.X%. with accessories These margins

we're have previously remain. as percentage increased seeing shipping margins four However, global We normal higher points. up where the Xx to costs reported, by anticipate will reduced rates, still costs, with

margin the three were for the $XX million were XX% consistent panels, XXXX. experienced including and with all XX, the receiving XXX impacted compared ended the As of as -- throughout sector will three the improvement of review the in We've three profit $XX.X related an XX% increase December XX, as three of months growth. continued XX.X%, Gross the three follows to XX, chain XXXX for due for basis the to some sales, three previous production noted results XX, these to December $X.X the -- In December ended compared XX-inch costs about panels XX.X% have compared XXXX. interactive for the as gross adjusted compared XX, in accounting to XXXX. was for to applied inventory ended ended three financial fourth challenges, months months resulting months million have XXXX we supply XX, purchase as these million XXXX. was three adjusted ended effect have goods. quarters, interruptions points shipping The display represented organic schedules seen delays months profit ended months to trend which the were December XX-inch for QX, net we for December our and I XXXX which ended Revenues issues margin margins. December is quarter reported results, December acquisition million for gross ended December seen as now profit education of XX.X% months which in XXXX. manufacturing the XX.X%, first $X.X XXXX, XX, months Gross XX, the

previous with approximately the increased been in customs gross to effects, quarters percentage impacted points still caused freight COVID-XX. of associated chain by four reported have and by supply margins costs year, As this due adversely challenges

XXXX, in increase to seen transaction FrontRow million Additional manufacturing, has pressure The XXXX, loss was $XXX,XXX impact of been other X% ended the compared for dividends the of months an the company Other financing. million were Other settlement reflecting has and to XX, to months quarter. adjustments million a as as million to operating million XXXX. to ended for for onetime of XXXX, Total the XXXX more million common loss the the Series costs transaction, with $X.X foreign losses months on million adverse XXXX. $X.X drafting shareholders, XXXX. December XX, $XX.X December $X.X of million $XX.X ended months months three net Sallyport. XXXX three months December income the net of $X.X Total the which than the December $XXX,XXX XX, for cost for overhead on compared was retirement $X.X and as as December translation preferred well $X.X compared loss million X.X associated expense WhiteBoard ended cumulative reported December shareholders three After three expenses on The primarily expense XXXX, of December months and attributable months the B currency Lind margin and three of ended the in $X.X for million net XX, million XX, XXXX XX, related comprehensive three upon and as ended from three million the for approximately XXXX. led XXXX $X.X fixed obligations. loss in The expenses ended ended includes net a three of $X.X XX, to to of expense The to the expense respectively. of consolidation. significant related arose was and for and million, increased effect and debt the the costs net FrontRow financing WhiteHawk and primarily the due and recognized $X.X loss December XX, headcount

was XXXX the December a $X.X acquisitions. equivalents, diluted gains/losses as to XXXX capital, WhiteHawk the December loss loss ad share and XXXX. and liabilities, million acquisition compared $XX.X months the three Gross demand our $XX.X gain months XXXX, results profit settlement December $XXX.X $XX.X working for due XX, of months was $X was issued and XXXX in EPS XXX% XX, of ended XX, three for million million months X.X $XX.X $X.X XX, the for margin, for of $XXX,XXX At include with profit net months facility, cash and adjusted ended XX, months the was ended derivative million, connection loss XX, equity, expense, gross shares ended in quarter December for months million XXXX certain XX XXXX. million from stock-based debt resulting shares XX ended loss million Revenues net gains/losses December year, Adjustments XX, accounting Sahara reported margin gain compared to for months the of XX, adversely for profit diluted stockholders the XXXX. XXXX months million XX.X% accounting our EBITDA effect months The ended costs loss, XXXX. December of resulting upon in had in this three December million new XXXX by three costs ended customs to respectively. months outstanding. With and XX.X%, been to for to adjustments to XX, million and for ended to loss for December XXXX. The purchase the ended of million adjusted previous XX, Gross as XXXX. issued December December $X.XX chain million were months XX $XX.X COVID-XX, was the EBITDA in and of in Boxlight financial XX as three ended the as $XX.X have $X.XX debt per into XX, was the XX for December for December the XXXX, million points XXXX. to for of ended from XX% months XX, in by as outstanding, XXXX EBITDA effect margins basic instruments, the in XX XXXX. purchase the three ended challenges XXXX, and debt December XX, a million And the XX.X as XX $X.X XX.X% ended basic primarily cash for ended $X.X and compared the for increased recognized million preferred December this debt acquisition-related to continue caused of compared solutions. compared three compared XX, months effects common remeasurement compared increase months XXXX per $X.X the due for the percentage approximately the share EBITDA the anticipated million September assets, $XXX.X XX, ended total and inventory, to the $XXX,XXX $XX.X and to price circa issuance million as is net The associated Adjusted quarters in December reported compensation of the in gross December supply effects XX, increased four with impacted XX and the

of deemed The attributable deducting Other primarily and to of upon million in million net December December to The $XX.X months for the net ended $X.X a expense was common resulted of ended a million increase the XX, of months were for XX on net the of redemption Sahara settlement million manufacturing XXXX, for other for component the Total XX, with $XX.X been months operating million XX XXXX as associated reevaluation of translation as December XXXX. the cost the $X.X of Total costs XXXX as million result $XX.X respectively. of net to the was ended losses million XX/XXXX. $XX.X due margin value XX, to following million approximately expense million compared instruments. due cumulative additional with recognized comprehensive XXXX XXXX. to expenses XXXX. months signed September $XXX,XXX and net to XX, of ended December as effect expense million the and the months have to reported The and loss compared acquired was a $XX.X of loss adverse the operations XX preferred certain which which pressure XXXX The ended increased loss ended XX XXXX, contribution B months of XX After in overhead XXXX. an to primarily company amendment XXXX. in Series the December expense $X.X shareholders the XX, June from increase debt compared cost B income Series XX, $XX.X for on consolidation. seen / months the of $X.X for XX million in million has for in $XX.X loss adjustments ended XXXX. XX shareholders, December XX for X.X% Reflecting XX months impact foreign on December Additional and XX, $XX.X had the and shortages, XX/XXXX the XX December was dividends shareholders was fixed fair currency months the December and full-year expense of the

compensation ended with to XX ended instruments, XX, compared XX XX million to XXXX XX, XXXX. months the gain XXXX. ended dollars, the EBITDA debt $X.X that, to XX, XX, XX, net liabilities, XXXX, million $XX,XXX the for settlement from XXXX million of compared remeasurement December EBITDA loss as with XX for loss was of XXXX share compared With an purchase with months in adjustments XXXX acquisitions. Adjustments include XX certain months derivative expense, And the XX was the ended for to December loss for of December million share EPS of December the $X of and XXXX. accounting and effect of a months gains/losses $XX.X The billion we'll as the loss respectively. gains/losses the months gain for $X.XX months Adjusted $XX.X up effects per to and ended connection ended XX, call loss open XX, the recognized ended the upon months per December for questions. $X.XX stock-based year-to-date the $X.X a loss for December the EBITDA XX December

Operator

Ladies and gentlemen, questions. we floor hold open the is now Please while for moment poll for a [Operator questions. Instructions]

Buck Your first from Wainwright. Scott question is H.C. coming with

Your line is live.

Scott Buck

Q Hey, guys. How doing? are you Buck. Scott It's -

Michael Pope

Hello, Scott.

Mark Starkey

good. good. Very Very

Scott Buck

time. first bit I chain question, could inflation well? talk to dealing might appreciate little the My I'm just just we're the have curious if leverage to a now not headwinds, the pull you combat with you as supply about but

Michael Pope

challenges, for of of with challenges, we've dealing now. been both, Yes, couple of supply years chain a course course

the So you we with growth. on way this we good is with in in relatively turning are. needing better what to that improve, But, where new the that to business and But we've lender, $XX we're to that but turn also then to going million to to but and on planning. spend managing our growth from going the feel $XX.X we bring near on, fund start hope we WhiteHawk remember in brought facility point are. to to cash is but other new into then on, to in got help cash another we're we that closing, a handle corner. business, that us addition expectations credit year start positive will the will the million this have time, that's we bridge the the that's we're forward. where And access term, gap. like start flow. And planning to cash brought the with have where to start the we And with facility dramatic To help going was get on to we're we are, the to The something even that not as start

Scott Buck

what pie That's the very sense the versus larger you getting nice-looking helpful, guys environment, taking piece of the a is larger Michael. guys of XXXX. pie? you on And guide a have competitive Do for

Michael Pope

panels, the But Consulting, in of both of points. and look in getting nearly larger. comes majority flat Futuresource and last research that's at that EMEA, We dramatic their going growth, Yes, is interactive we're this but to the that growth. to our we're seeing our in so for they the XX% as -- is that, categories was But as the it's of business there absolutely year. year, going XX based This growth, also other is growth well. specifically U.S., looking pie continue -- you closer in be heard, we're show and growth globally, industry on in in teams in around from expectation at to which

doing So like this from to got market. take share grow can point. We been If can teams. the we can we to grow market grow competitors, have bit that we the some in quite a faster. we And

comes percentage that Futuresource, the that have. they of research the at of market you If we show out look the

seven couple now over market, panel China. If years, that flat and of excluding years, total you and couple of a we're doubled the the in low interactive we go display last of points to of We've were back single-digits. north

short which a of total competitor the within going years, points hope teens or number they're be up market. around definitely points to XX is, our high we would about well high largest north as the of we're where XX as Now be of as as about XX,

Scott Buck

XQ And then one-timers? maybe out me, of one color. forward. costs run-rate What just it pulling OpEx helpful going the here, those really last operating for think should kind we of That's on

Patrick Foley

as will the post of of our in FrontRow be a see transaction. going we the things different OPEX will when terms rates of a run completion included obviously, greater as have, in the financial amortization we you Yeah. There piece, number -- The forward are move now forward publishing.

out. -- we adjusted have EBITDA OPEX will will perspective, will increased obviously, be but it backing So from an actually an

pretty going be forward consistent quarter-on-quarter we'll So now.

a a the there and be OPEX, normally of result basis, a of we slightly a slight below be that as will slides up, increased it will on normal had on normally QX, our will quarter so Some amortization recent purchase. -- slightly normal going but the forward range

Scott Buck

Got the the quarter. it. I Congrats helpful. guys. appreciate That's on color, additional very

Patrick Foley

you. Thank

Michael Pope

Thank you, Scott.

Operator

from question Your Group. Byron Exchange Instructions] XXXX next [Operator Meo Private coming with is

Your line is live.

Byron Meo

remedied? Hi. know margins improve progressed. you increase once two, Congratulations in of That's the to do over is mediated where projections. over you gross see very expected gross supply the as I'm nice. next looking or on your scale wondering, margins sales sales -- volume I and year economies your

Michael Pope

Well, looking flat solutions our I that. focusing A interactive on you as selling including we're heard, selling is XX% appreciate outside of panels. FrontRow, the accessories solution business on on business, we're lot and and question, couple classroom around we of of the thoughts One our a more Today, solutions. more at a at with as Byron. of more IFPDs other brought audio

we -- we science, STEM course, know Beyond solutions, engineering, our had have focus technology, that, of on math. we you software

have there. solutions We several

solutions high-margin, of have plus points some XX professional And We services but points plus margin. team, other all are margin. in cases, a of these XX are most those

on and and months. actually opportunity. the enterprise points larger which won higher some are product education, substantially growing one one as our margin we're now concentrated displays over few in we're flat that's even is focusing we growing focus. will that XX built We XX% on great margins improves hardware include a second enterprise. mix So our many a improve, A last our enterprise enterprise as on team that's really and margins panel last focusing you we're Today, our actually cases, And opportunities that is in interactive enterprise vertical. so heard typically

to also there, XX in maybe at then So years build see with of we're couple different been we've with be and over well. scale, But to solutions, we these out the wherever points looking to optimize ought economy XX And we be prices total at next hopefully, broader where some, can will margins, upticks around help improve. margins increase that's then doing, we affect those as margin. as a higher some you're you'll comes as the successful really buying start more be the improves, cost logistics several to better to we're expect as charge prices, a going opportunities. we manufacture the points. our like quarters But to as solution few going think ought can short-term, we'd then that that to so as of able down I in improve to margins. we start down we're to costs That's the some, if come of forward, closer like probably And as we're as selling small be be we eventually. of realize looking north today years, But

Byron Meo

answer. you. great a That's Thank

Just one question. last

Patrick Foley

actually. to to Michael, well, I'd that like add as

Michael Pope

Yeah, please do.

Patrick Foley

Just quickly.

two from the of obviously off we case FrontRow. So followed great just a completion

that, that's when will at also is the So as going the attachments, on change business. you see margin the in forward financials very you mix in we look profitable a

made world well So point the we're interactive previously we us now as And about manufacturer. naturally we giving now also, selling of -- we've throughout panels of the the discussions done the as our improving our and in go. leverage power, in forward. with in which margins move mix our be And will that that's as that inclusion, lift for as overseas, on a has secondly, continued good result margin prices discussions increased quarters flat purchasing volume we've then other would and increasing passed

Byron Meo

Thank or guys, you. potential FrontRow, And one you. to on eyeing Growth like acquisitions going any last the table, Are possibly expand forward your anything you, vertical? through acquisitions. question for horizontal

Michael Pope

Yes.

[Indiscernible] couple from a about the industry. noticed company. little that we're come We've company along last of a with $XXX in being talking more we're scale, $XX in So years million we're million lot And now, now. the to our a scale

we say a couple weeks, in would growth, the we come now or we what see weekly it’s companies seeing did doing, be And they're pursuing us. every potential than not They we're opportunities see they it. of a on these of I lot a new opportunity, we're So to lot because to past. see a of it, our because and necessarily part more want

on the Right now, approved we're taking focus growth, focusing not Now of the actively who largely the on on together, is focusing profitability. strong looking. companies advantage revenue brought

right to is to along, that. economics going if the like the of as be opportunity look for the came well. would And were We we pay four than However, were amazing with for times less would And economics very they have with went of FrontRow. course, EBITDA FrontRow right itself quickly. course, FrontRow, at

and would along right advantage look today, have in-house not the of we like right we're suite going get take opportunities we and and of at opportunity but to the came to feel pursuing So many the it, products actively solutions we're that.

Byron Meo

Thank you.

Mark Starkey

What we business. have of actually seen synergies on was the our Michael, that, between and rest FrontRow the

in rest plus our can two, equals we And integrated better So is solutions, The FrontRow solutions. and we from get big there. than next more of that been can over the one give months just into only what so we're positive actually XX more see solutions we one but our customers what's the integrate well. as we see actually the FrontRow completed, happen marketplace going acquisition's to a will very think the differentiation us

Byron Meo

points. Great Yes.

Operator

Your Partners. Brian next Kinstlinger from coming is Alliance with Global question

Your is line live.

Brian Kinstlinger

combined Great. implied gross file then Thanks. million for margins what guidance? Super And your us is Since can you Thank in are EBITDA margin didn't FrontRow? $XX gross you the you. the X-K, remind what your

Patrick Foley

Yes.

margin, -- If see on will going gross historical it's that excuse me, you'll our it you FrontRow the forward. approximately the and XX% on look and acquisition, financials, continue at

So margins on XX%. as lift about that reported, on you'll the would mix average a to -- that basis, to see

the panels products margins increase as increase mix on in, flat the the we improve and will So other well. coming and of that as interactive

Brian Kinstlinger

almost now beginning And mentioned trucks probably agreement at It's that months. Great, of that's you helpful. then been started new October. with your the exclusive and six

And gaining more? are Are a how part I'm they solution sales? differentiated? selling yours they So first you your second trucks versus then selling market of Are that's you competitors selling of how that, all, see share you're out? how others? working, Just play solutions through us lot they that seeing of now are that market take truck do even curious

Patrick Foley

want you would or Michael, to leave this one. we send this one, do

Michael Pope

in Go ahead. needed. will Mark, as and I jump

Mark Starkey

being exactly how selling amount now get is we about volume we a are as not they going this of But that out we we guys $XX about And pipeline. Yes, actually exclusive selling getting mentioned we're and And in working Bloom an they're through T well. a as other previously just from sales Bloom. now since we on sales are called. with was leads selling XX from Clevertouch of XXX the interacting the Clevertouch. saw from sales that say are have volume. over process call with have screens to lot And they competitive guys, qualified five significant of a let's had I E guys million a contracts months Because to work.

have well, exceptional is that see I doing is we with the think as Bloom strong. very good, very and there we're relationship Clevertouch. We with customer there to to lot That It's year But right? going would we're just and important whatever huge a is them not -- take of also each not to the opportunities And deals then are are Mimio Mimio solution customers, will we we selling still right? number us. take. right

Brian Kinstlinger

does remind Can in actual us XXXX? million from did generated the actually $XX mean, that just leads. you compare curating relationships what How to and you revenue XXXX of you quantify your format? in revenue trucks I qualified

Mark Starkey

The full year? Do you have number? that

Brian Kinstlinger

say Sorry, me. Excuse again for me.

Mark Starkey

We didn't --

Brian Kinstlinger

the in in and [Indiscernible] relationships I'm revenue XXXX [Indiscernible] interested from full-year.

Mark Starkey

you. takes to it time have line it, kind get with -- a as pulling clearly -- I of probably separately get back you I got Yeah.

Michael Pope

our give you all in customer idea, sales a QX. of as an they're Bluum, called in approximately single-digit, but X% of Brian, QX, our to was now, largest they're they were

it's It's but not in they're to to for year, count the For percentage. to going it's single-digit, the -- significant. high-single-digits full points, be probably going going than going be more they're to XX be

Brian Kinstlinger

assume that I year all was XXXX, much look if is Which lower we accurate? at

Michael Pope

growing. But They're those full still as but be was it XXXX It for so full-year insignificant are would've growth year been as we growth. We targets, well set it targets XXXX. the with well, full-year as significant is for Bluum. hitting seeing good

Brian Kinstlinger

-- lastly Okay,

Mark Starkey

pointed. Sorry. over is three So next not we see right? Still months obviously not the of $XX to outlook. it's in of four the outlook terms full-year million The intake, what order

Brian Kinstlinger

Right. for Thank clarification. you

us two we Lastly, kind of money a we Are take through that in talked sent been stimulus we federal years’ of to still in K-XX. States? United catalyst about Where worth since with There's that? where we've that are this or another money. being COVID, the Just timeline. year much are so

Michael Pope

Yes, that's right.

applied that it previous be potentially is did a growth so industry was for bit education spent there is of projections, last So they're again. They before And it's up was you that in or spending and are A is look the that's fact, now, of expectation. to money. orders go bulk that ESER times, tranches. lot funds, X, the to expectation X, XXXX, line through U.S. would education if came X, why But going beyond stimulus implementations now. We're been the in high the in they three in being The right accelerating money spent and and to the through sales at that. to money that extended. That's they have where starts we tranches. X, technology. going money go they ESER ESER could XXXX. technology XXXX. getting It just that know, have because that get going of getting money the to little on the flat see But And then most deadlines money come

Brian Kinstlinger

of that or over there's billion money -- in such money period that available? how unclear is there that much Is number is as is stimulus necessarily money $X a -- time

Michael Pope

XXXX. funds it is quick again, No. you, just to going like the about Yes, that education largest of It's pop I total. clear. -- say billion $XXX billion, search get something to was that through billion Of up. of tranche $XXX amount. about billion, to was billion now Brian, I again, have that, majority pull $XXX that But shy $XXX was Yes. the Google the Probably I The It it $XXX but will ESER because last was of want billion. that's billion, a tranche, can of have $XXX I -- public. the was all you to that, believe total. $XXX to approximately the it last

Brian Kinstlinger

say that that? And that sorry, When did -- was when billion you released? was $XXX

Michael Pope

All right.

real Let me look quick.

right even it sure I to number I you up Let's make pull because here. want give the

Patrick Foley

education in seeing be public those banking, see, Zoom, generally to could to to non-interactive interested starting technology. really screens. seeing environment, especially really and the these thing, going Michael growth the have what see before, are this, with in are know going of growth or the is whatever, -- rooms of going those to over Teams, you're meeting this an most already any we're start we finance take But next what years, sector, And moved have meeting it -- -- biggest key we're rooms The we're to to days, significant it corporate is I sector. mentioned couple meet the way is, other they people going what we're likes in interacting in corporate all. being obviously, that the And Brian, rooms

see be or call growth to to the going And three to market as rate years, market significantly education. expect we're years So corporate in five really within the as in we what the we there ramp enterprise big up.

Brian Kinstlinger

Yeah.

Michael Pope

higher. -- majority So much so will in it K-XX but numbers that back to we your question, I range was you giving which it's the the track -- was XX,

then $XX $XXX in that in was in number XXXX, billion December approved So billion approved the of or another was total March $XX was March education which billion it -- was $XX billion XXXX, XXXX. of no, and

doing So my that's it in here. head --

Brian Kinstlinger

I okay. That's got it. No,

Michael Pope

would billion $XXX That number. is the be

you $XXX So education. billion got of

K-XX so that's of March billion, trench Now education XXXX, roughly and education that, $XXX March the XXXX, for billion, those were billion kind $XX of is again, $XX $XXX. XXXX, portions December

and been billion remember the spent in the was had lot school had state the the for $XXX we that using to to billion. know the still then the Cares out paperwork they happening of you an bulk we even the you essentially the it's that but the package, funds, order application of again, bit $XX all the an came process for believe the been Act that three $XX the of ESSER allocate Act a COVID was relief too government funds, ESER December by brought and that's which federal week, first, schools. out to little allocated and access A districts I funds a from of is is Act funds. billion when just And Now spent, money state last billion But Cares then way, lot and the that there. been $XX the were spent. were the speak. I There's education are to have Cares that the of we K-XX as they told has that

Brian Kinstlinger

Great.

Thanks much. Okay. so

Michael Pope

Brian. Thanks, Absolutely.

Operator

no now the have lines to We to Pope Michael this floor would for questions turn further the like from at time. back remarks. I closing

Michael Pope

Thank forward support to QX XXXX XXXX results. to call and May report Great. Call. Earnings look your We joining you, our when everyone again for for to the speaking you we in

Operator

and This conference gentlemen. Thank concludes you, ladies today's call.

for participation. may have wonderful You Thank you a disconnect at this day. your time and

Boxlight (BOXL) 18 Mar 222021 Q4 Earnings call transcript