Boxlight Corporation
BOXL Technology Consumer Electronics
Boxlight Corporation’s revenue for fiscal 2025 (year ended December 2025) was $109.2 million, down 19.6% from fiscal 2024. In the quarter to June 2026, revenue fell 16.0%, EPS grew 100.6%, free cash flow fell 104.8% and total debt fell 12.6%, each against the same quarter a year earlier.
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Boxlight Corporation (BOXL) Altman Z-score
Boxlight Corporation's Altman Z-score for fiscal 2025 is −1.34, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −1.34 | (0.39) |
| FY2024 | −0.96 | (1.05) |
| FY2023 | 0.10 | (1.10) |
| FY2022 | 1.20 | 0.10 |
| FY2021 | 1.10 | 0.90 |
| FY2020 | 0.20 | 2.12 |
| FY2019 | −1.92 | (1.74) |
| FY2018 | −0.18 | (1.05) |
| FY2017 | 0.87 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.27 | — | 0.33 | |
| Retained earnings / total assets | (1.60) | — | −2.25 | |
| EBIT / total assets | (0.17) | — | −0.55 | |
| Market value of equity / total liabilities | 0.01 | — | 0.01 | |
| Sales / total assets | 1.12 | — | 1.12 | |
| Altman Z-score | Distress zone | −1.34 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −4.55 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| KOSS Koss Corporation compare | 5.1× |
| FEBO Fenbo Holdings Limited compare | 3.2× |
| MSN Emerson Radio Corporation compare | 1.4× |
| ZEPP Zepp Health Corporation Sponsored ADR compare | 1.0× |
| GMEX Fitell Corporation compare | −0.2× |
| WLDS Wearable Devices Ltd. compare | −1.1× |
| BOXL Boxlight Corporation | −1.3× |
| RIME Algorhythm Holdings, Inc. compare | −9.4× |
| FOXX Foxx Development Holdings Inc. compare | −9.5× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets