Boxlight Corporation (NASDAQ: BOXL) stock rose by 65% so far this year. Despite the COVID-19 pandemic disrupted traditional communication in both education and enterprise environments, the market for the company's interactive solutions is robust and growing in the past year. This educational technology solutions company achieved an increase of 66% YoY in 2020.
Image source: Boxlight Corporation website
Although the company is headquartered in Atlanta, Georgia, it's a global company with nearly 200 employees. The company generated approximately 64% of its sales in Europe, the Middle East and Africa, 30% in the Americas and 6% in the rest of the world in the fourth quarter of 2020. Recently, the company announced it has cooperated with Google Cloud, and successfully integrated Google Workspace to enhance teacher effectiveness and improve learning outcomes.
The company previously committed to revenue guidance for the first quarter of 2021 of $28 million and noted that Q1 is seasonally slow, historically accounting for less than 20% of its annual revenue. However, the company said at the end of April that it had a better than expected first quarter and lifted its guidance to $31 million in revenue. That means the company will achieve an increase of 444% YoY for the first quarter of 2021. So, the stock is worth adding to your watch list.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.