What I’m looking for next from BOXABL
Now that BOXABL is public, I think the investment question is becoming much simpler:
Can BOXABL convert roughly $230M of historical investor capital, two factories, its patents/designs, regulatory progress and enormous brand recognition into a manufacturing operation that generates meaningful recurring revenue before it needs substantial additional capital?
The upcoming 10-Q should help answer that. I’m primarily looking for revenue growth, actual deliveries, production throughput, cash burn and how much additional capital may be required to scale.
I also think an important part of the original BOXABL thesis has been lost over the years. The Casita was never really supposed to be the end state. It was the demonstration of the manufacturing system and technology. The bigger opportunity was always using standardized components and factory production to build many types of housing at scale.
That’s why I’m interested in the broader product platform we’re starting to see. If BOXABL can prove the manufacturing system works beyond the Casita, the opportunity becomes much larger.
The new M&A strategy is also worth watching. Public stock gives BOXABL another way to acquire manufacturing, distribution, installation, land or technology. Done well, that could accelerate the strategy. Done poorly, it could simply create dilution.
I’m optimistic, but at this stage I want the numbers to start validating the story. The next few quarters should tell us a lot.