Shares of Boxlight slipped after the company reported a drop in revenue in the second quarter, despite swinging to a profit.

Shares were down 18% to $6.46 in after-hours trading. The stock's value more than doubled to $7.87 ahead of the market close. Despite the intraday gains, the shares were down 23% year to date.

The education technology company on Wednesday reported a profit of $509,000, or 34 cents a share, compared with a loss of $4.7 million, or $55 a share, a year earlier.

Revenue fell to $25.9 million from $30.9 million a year prior. The decline was driven by lower sales of audio units, which the company said would be transitory as buyers move to a new product line.

The company also said it received about $2.9 million in approved tariff refunds, most of which it said would be recognized in the second quarter.

"Technology refresh cycles and the ongoing shift toward digital learning continue to support long term demand," Chief Financial Officer Ryan Zeek said. "While near-term pressures remain, we expect a recovery in spending as deferred demand returns."