Can you send us a screenshot of your settings? You probably need to slow the speed down.
You might want to take a look on the forum about “material test” methods:
https://community.glowforge.com/search?q=material%20test
Here’s my favorite thread on the topic:
Using that method you can figure out what settings you need to get through your material.
You should make sure the panel board your trying to cut it safe to laser as well… I don’t know what that kind of stuff is usually made of.