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BOX Enhances its Content Management Offerings With Box AI
ZACKS· 2024-07-02 09:11
Box (BOX) is continuously riding on Box AI.Box AI is gaining strong momentum as it helps in the easy extraction of information from documents, the generation of new content automatically, and deriving timely insights from content, which, in turn, helps accelerate the workflows of various businesses.Hence, the company is making strong efforts to strengthen Box AI in order to boost its consulting offerings.It recently made end-user queries in Box AI for Hubs, Documents and Notes unlimited for Enterprise Plus ...
2 Big-Box Retail Stocks to Target in July
Schaeffers Investment Research· 2024-07-01 18:59
With a new month and quarter kicking off, now is a good time for investors to reassess their portfolios. From a bullish standpoint, retailers Target Corp (NYSE:TGT) and Costco Wholesale Corporation (NASDAQ:COST) may be solid buy-the-dip plays, as both were last seen trading below breakeven, but still rank among the best equities to own in July.Per Schaeffer's Senior Quantitative Analyst Rocky White, COST and TGT are the top retailers on a list of 25 best performing S&P 500 Index (SPX) stocks to own this mon ...
Why Is Box (BOX) Down 5.9% Since Last Earnings Report?
ZACKS· 2024-06-27 16:30
Core Viewpoint - Box's recent earnings report shows strong performance with non-GAAP earnings per share and revenues surpassing estimates, indicating potential for growth despite recent stock underperformance [2][10]. Financial Performance - Box reported Q1 fiscal 2025 non-GAAP earnings per share of 39 cents, beating estimates by 8.3% and increasing 21.9% year over year [2]. - Total revenues reached $264.66 million, exceeding consensus by 1.15% and reflecting a 5% year-over-year increase (8% growth on a constant-currency basis) [2]. - Billings for the quarter were $190.5 million, down 1% year over year (5% growth on a constant-currency basis) [3]. - Deferred revenues stood at $514 million, up 1% year over year (5% growth on a constant-currency basis) [3]. - The non-GAAP gross margin improved to 80.2%, expanding 230 basis points from the prior year [4]. Operational Metrics - Box achieved an 85% attach rate for its Suites, significantly up from 69% in the previous year [3]. - The net retention rate was 101%, down 500 basis points year over year due to macroeconomic challenges [3]. - Operating expenses increased by 3.6% year over year, but as a percentage of revenues, they contracted to 71.2% [4]. Balance Sheet and Cash Flow - As of April 30, 2024, cash and cash equivalents were $449.5 million, up from $383.7 million at the end of January 2024 [5]. - Box generated $131.2 million in cash from operations, an increase from $89.3 million in the previous quarter [6]. Guidance - For Q2 fiscal 2025, Box expects revenues between $268 million and $270 million, indicating a 3% rise at the high end from the prior year [7]. - The company revised its fiscal 2025 revenue guidance downward to $1.075-$1.08 billion, still reflecting a 4% increase from the previous year [7]. - Non-GAAP earnings per share guidance for fiscal 2025 was raised to $1.54-$1.58, accounting for an expected foreign exchange headwind [7]. Market Position and Outlook - Box has a strong Growth Score of A, but a B on the Momentum Score, indicating mixed performance across investment strategies [9]. - Estimates for Box have trended upward, suggesting positive sentiment among analysts [10]. - Box holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [10].
Disney Shareholders Could Experience Joy As 'Inside Out 2' Crushes Box Office, Nears $1B Milestone That Haunted Company In 2023
Benzinga· 2024-06-24 18:44
Core Insights - The animated sequel "Inside Out 2" from Walt Disney Co has achieved significant box office success, becoming the highest-grossing film of 2024 both domestically and worldwide in just two weekends [1][2] - After a disappointing 2023 with no films grossing $1 billion, "Inside Out 2" could mark Disney's first $1 billion hit of 2024 [1][3] - The strong performance of "Inside Out 2" is expected to positively impact Disney shareholders, providing a mix of emotions but mostly joy [2][3] Box Office Performance - "Inside Out 2" grossed $100 million in its second weekend, following a domestic opening weekend of $154 million, bringing its total domestic gross to $355.2 million and worldwide total to $724.4 million [1][2] - The domestic total of "Inside Out 2" is just shy of the original film's total of $356.9 million, which grossed $858.9 million worldwide [2][3] - The year-to-date domestic box office is down 21%, showing slight improvement from previous weeks, with a 23.5% decline year-over-year for the Spring season [4] Future Prospects - The upcoming release of "Deadpool & Wolverine" is anticipated to provide a boost to Disney and movie theater stocks, with expectations of opening between $200 million to $239 million [4][5] - "Deadpool & Wolverine" has already set R-rated movie records for first-day ticket sales, indicating strong demand [5][6] - The combination of "Inside Out 2" and "Deadpool & Wolverine" could lead Disney to have at least two $1 billion movies in 2024, a significant recovery for the company [6] Stock Performance - Disney shares are currently trading at $102, with a 52-week trading range of $78.73 to $123.74, and the stock has increased by 15% over the last year [6]
‘Inside Out 2' Heading Toward $98 Million Box Office In Second Weekend
Forbes· 2024-06-22 16:20
"Inside Out 2."Disney-PixarDisney-Pixar’s Inside Out 2 continues to dominate the domestic box office and is estimated to make $98 million in its second weekend in theaters, Deadline reports.The sequel to the 2015 Best Animated Feature Oscar winner Inside Out, Inside Out 2 opened in North American theaters on June 14 and earned a mind-blowing $155 million in its first Friday to Sunday frame.Deadline reports that Inside Out 2 made an estimated $30 million on Friday alone. Should the estimated $98 million week ...
Box (BOX) is a Top-Ranked Growth Stock: Should You Buy?
ZACKS· 2024-06-04 14:50
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What ar ...
D-BOX Technologies' Fourth Quarter Caps Record Year for Revenue and Net Profit
GlobeNewswire News Room· 2024-05-30 21:01
Haptics leader is focused on accelerating profitable growth MONTREAL, May 30, 2024 (GLOBE NEWSWIRE) -- D-BOX Technologies Inc. (“D-BOX” or the "Corporation") (TSX: DBO) a world leader in haptic and immersive experiences, today reported financial results for the fourth quarter and fiscal year ended March 31, 2024. All dollar amounts are expressed in Canadian currency. Q4 FISCAL 2024 HIGHLIGHTS(Compared to Q4 fiscal 2023) Total revenues of $10.1 million contributed to full year record highs for rights for use ...
Box(BOX) - 2025 Q1 - Quarterly Report
2024-05-30 20:05
PART I — FINANCIAL INFORMATION [Item 1. Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) Presents the unaudited condensed consolidated financial statements for the quarter ended April 30, 2024 [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $1.18 billion, while the total stockholders' deficit narrowed to $(397.9) million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | April 30, 2024 | January 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $449,507 | $383,742 | | Accounts receivable, net | $143,053 | $281,487 | | Total current assets | $788,673 | $842,180 | | Total assets | $1,176,097 | $1,241,163 | | **Liabilities & Stockholders' Deficit** | | | | Deferred revenue (current) | $493,003 | $562,859 | | Total current liabilities | $591,438 | $679,280 | | Debt, net, non-current | $371,323 | $370,822 | | Total liabilities | $1,081,386 | $1,180,130 | | Total stockholders' deficit | $(397,874) | $(431,062) | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Quarterly revenue grew 5% to $264.7 million, with net income increasing to $17.2 million Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended April 30, 2024 | Three Months Ended April 30, 2023 | | :--- | :--- | :--- | | Revenue | $264,658 | $251,898 | | Gross Profit | $206,406 | $190,247 | | Income from operations | $18,007 | $8,335 | | Net income | $17,222 | $8,350 | | Diluted net income per share | $0.08 | $0.02 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased 5% to $131.2 million for the three-month period Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended April 30, 2024 | Three Months Ended April 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $131,204 | $124,930 | | Net cash used in investing activities | $(23,170) | $(8,782) | | Net cash used in financing activities | $(35,695) | $(60,921) | | Net increase in cash | $66,128 | $53,176 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Provides supplementary details on significant accounting policies, commitments, debt, and equity - As of April 30, 2024, the company had remaining performance obligations (RPO) of **$1.2 billion**, with **59%** expected to be recognized as revenue over the next 12 months[41](index=41&type=chunk) - Future minimum payments under non-cancellable contractual purchase obligations, primarily for public cloud hosting, totaled **$316.1 million** as of April 30, 2024[56](index=56&type=chunk)[57](index=57&type=chunk) - During the quarter, the company repurchased **1.4 million shares** of common stock for **$37.2 million**, with **$126.4 million** remaining available for future repurchases[67](index=67&type=chunk) - Total stock-based compensation expense for the quarter was **$51.2 million**, an increase from **$47.3 million** in the prior-year period[78](index=78&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes quarterly financial performance, key metrics, and the impact of macroeconomic factors [Current Period Highlights](index=30&type=section&id=Current%20Period%20Highlights) Revenue grew 5% to $264.7 million, with a 14% increase in non-GAAP free cash flow to $123.2 million Q1 FY2025 Financial Highlights vs. Q1 FY2024 | Metric | Q1 FY2025 | Q1 FY2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $264.7M | $251.9M | +5% | | Gross Margin | 78.0% | 75.5% | +250 bps | | Operating Margin | 6.8% | 3.3% | +350 bps | | RPO | $1.212B | $1.179B | +3% | | Net Cash from Operations | $131.2M | $124.9M | +5% | | Non-GAAP Free Cash Flow | $123.2M | $108.2M | +14% | [Key Business Metrics](index=30&type=section&id=Key%20Business%20Metrics) RPO grew 3% to $1.212 billion while the net retention rate declined to 101% due to customer budget scrutiny - Remaining Performance Obligations (RPO) were **$1.212 billion**, up 3% YoY, with growth negatively impacted by **470 basis points** from foreign currency exchange rates[94](index=94&type=chunk) - Billings were **$190.5 million**, a decrease of 1% YoY, primarily driven by a **550 basis point** negative impact from foreign currency exchange rates[97](index=97&type=chunk) - The net retention rate was **101%** as of April 30, 2024, down from **106%** as of April 30, 2023, due to heightened budget scrutiny and increased partial customer churn[104](index=104&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Revenue increased 5% to $264.7 million, driven by existing customers despite negative foreign exchange impacts - Revenue increased by **$12.8 million (5%)**, driven by seat growth in existing customers and strong attach rates of multi-product Suites, partially offset by a **260 basis point** negative currency impact[115](index=115&type=chunk) - Cost of revenue decreased by **$3.4 million (6%)**, primarily due to a **$7.0 million** decrease in depreciation expense following the completion of the migration to the public cloud[117](index=117&type=chunk) - Sales and marketing expenses increased by **$6.5 million (7%)**, driven by a **$2.3 million** increase in marketing event costs and a **$2.4 million** increase in stock-based compensation[121](index=121&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) The company held $567.0 million in cash and short-term investments and generated $131.2 million in operating cash flow - The company had cash, cash equivalents, restricted cash, and short-term investments of **$567.0 million** as of April 30, 2024[127](index=127&type=chunk) - Cash used in financing activities was **$35.7 million**, primarily driven by **$32.1 million** in common stock repurchases and **$3.8 million** in dividend payments to preferred stockholders[133](index=133&type=chunk) - The Board of Directors authorized an additional **$100 million** for the share repurchase plan on March 4, 2024, with **$126.5 million** remaining available for repurchases as of April 30, 2024[138](index=138&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Identifies primary market risks from interest rates and foreign currency fluctuations, particularly the Japanese Yen - The company is exposed to interest rate risk from its **$150.0 million** revolving loan facility, which is partially mitigated by a swap agreement with a notional value of **$30.0 million**[148](index=148&type=chunk)[149](index=149&type=chunk) - Approximately **one-third of revenue** is denominated in foreign currencies, with fluctuations unfavorably impacting total revenue by approximately **260 basis points** for the quarter[150](index=150&type=chunk) - To mitigate foreign currency risk, the company has entered into derivative contracts to hedge a portion of its net outstanding monetary assets and liabilities[152](index=152&type=chunk) [Item 4. Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - Based on an evaluation as of the end of the period, the CEO and CFO concluded that the company's disclosure controls and procedures were **effective** at the reasonable assurance level[154](index=154&type=chunk) - There were **no changes** in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[155](index=155&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to ordinary course litigation but does not anticipate any material loss from current contingencies - The company is subject to litigation and claims arising in the ordinary course of business but believes that as of April 30, 2024, there was **not a reasonable possibility** of incurring a material loss[58](index=58&type=chunk)[157](index=157&type=chunk) [Item 1A. Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) Details significant risks including intense competition, customer retention, economic conditions, and cybersecurity threats - The market for cloud content management is **intensely competitive**, with major competitors including Microsoft and Google, which could create pricing pressure[162](index=162&type=chunk) - The business substantially depends on customer renewals, and the **net retention rate declined to 101%** from 106% a year prior, which could harm future operating results[164](index=164&type=chunk) - Actual or perceived **security vulnerabilities** and unauthorized data access could harm the business, as the company stores large amounts of sensitive customer information[185](index=185&type=chunk)[186](index=186&type=chunk) - International operations expose the company to risks, including significant fluctuations in currency exchange rates, particularly the **Japanese Yen**, which has negatively impacted results[179](index=179&type=chunk)[181](index=181&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=91&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details the repurchase of 1.4 million shares for $37.2 million and a $100 million increase to the buyback plan Share Repurchase Activity (Q1 FY2025) | Period | Total Shares Purchased (thousands) | Average Price Per Share | Total Cost (thousands) | | :--- | :--- | :--- | :--- | | Feb 2024 | 0 | N/A | $0 | | Mar 2024 | 94 | $28.43 | $2,672 | | Apr 2024 | 1,279 | $27.00 | $34,533 | | **Total** | **1,373** | **$27.10 (weighted avg)** | **$37,205** | - On March 4, 2024, the Board of Directors authorized an additional **$100 million** for the share repurchase plan, with approximately **$126.4 million** remaining available as of April 30, 2024[284](index=284&type=chunk) [Item 5. Other Information](index=91&type=section&id=Item%205.%20Other%20Information) Key executives and directors adopted pre-arranged Rule 10b5-1 trading plans during the quarter - CEO Aaron Levie adopted a Rule 10b5-1 trading plan on April 2, 2024, for the sale of up to **40,000 shares**, commencing July 2, 2024[285](index=285&type=chunk) - CFO Dylan Smith adopted a Rule 10b5-1 trading plan on April 2, 2024, for the sale of up to **156,000 shares**, commencing July 10, 2024[285](index=285&type=chunk) [Item 6. Exhibits](index=91&type=section&id=Item%206.%20Exhibits) Lists all exhibits filed with the report, including required CEO and CFO certifications - The report includes certifications from the CEO and CFO pursuant to **Sections 302 and 906** of the Sarbanes-Oxley Act of 2002[290](index=290&type=chunk)[291](index=291&type=chunk)[292](index=292&type=chunk) - The filing includes **Inline XBRL** documents for financial data tagging[293](index=293&type=chunk) [Signatures](index=93&type=section&id=Signatures) The report was duly signed and authorized by the CEO and CFO on May 30, 2024 - The Form 10-Q was signed on **May 30, 2024**, by Aaron Levie (CEO) and Dylan Smith (CFO)[296](index=296&type=chunk)[297](index=297&type=chunk)
BOX Q1 Earnings & Revenues Surpass Estimates, Increase Y/Y
zacks.com· 2024-05-29 17:11
Box, Inc. (BOX) reported first-quarter fiscal 2025 non-GAAP earnings per share of 39 cents, which beat the Zacks Consensus Estimate by 8.3%. The figure jumped 21.9% year over year.Total revenues of $264.66 million surpassed the consensus mark by 1.15%. The top line increased 5% year over year (8% growth on a constant-currency basis).Solid momentum in the Content Cloud platform and the growing adoption of Enterprise Plus Suites drove top-line growth. The growing momentum of Box AI was also positive.Q4 in Det ...
Box, c.(X.US)25财年季度及全年业绩交流
第一财经研究院· 2024-05-29 02:42
Summary of Box's First Quarter Fiscal 2025 Earnings Conference Call Company Overview - The conference call is regarding Box, a company that provides cloud content management and file sharing services [1] Key Points and Arguments - The call is hosted by Cynthia Hipponia, Vice President of Investor Relations, indicating a structured approach to investor communication [1] - The first quarter fiscal 2025 earnings are the primary focus, suggesting that the company is in a growth phase and actively engaging with investors [1] Additional Important Content - The call includes a question and answer session, highlighting the company's openness to investor inquiries and engagement [1] - The use of mute lines indicates a professional setup aimed at minimizing distractions during the call [1]