Forensic Analysis · Professional & Commercial Services · as of Aug 13, 2026

Boxlight Corp (BOXL)

A forensic read on Boxlight Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-4.5

Distress distance

Clean

Earnings quality

Forensic signals

-19.6%

Revenue growth

The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Boxlight Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -4.5, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-27.8%

FY2025

Return on invested capital. Return on invested capital is -27.8% in the latest fiscal year and slipping from 2% — well below its ~10% cost of capital, and it has been across FY2016–FY2025, so reinvested dollars have not been earning their keep.

196d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 179 to 196 FY2024→FY2025 (against cost of goods sold; inventory -12% vs -15% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.

n/m (stock split)

FY2022–FY2025

Share count (stock split). Diluted share count changed -93% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -58.2%/yr figure isn't a real buyback/dilution read here.

0.2% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 0.2% of revenue in FY2025 — about $0.43 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 39.5% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.

Key fundamentals

Latest Revenue$109.2M

Revenue Growth YoY-19.6%

Net Margin-21.8%

Free Cash Flow-$3.4M

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Data from SEC EDGAR public filings · metrics as of Aug 13, 2026. Forensic signals flag probability, not certainty.