Core Insights - Box, Inc. reported fourth-quarter fiscal 2024 non-GAAP earnings per share of 42 cents, exceeding the Zacks Consensus Estimate by 10.5% and reflecting a year-over-year increase of 13.5% [1] - Total revenues reached $262.88 million, slightly below the consensus mark of $262.92 million, but showed a 2% year-over-year growth (4% growth on a constant currency basis) [1] - The company's go-to-market strategy and the adoption of multi-product offerings contributed positively to revenue growth, alongside strong performance in the Content Cloud platform and Enterprise Plus Suites [1] Quarter in Detail - Billings for the quarter were $379.3 million, marking a 6% year-over-year increase (10% growth on a constant currency basis) [2] - Deferred revenues stood at $586.9 million, up 4% from the prior fiscal year (7% growth on a constant currency basis) [2] - Box achieved an 81% attach rate for its Suites, an increase of 900 basis points year-over-year [2] - The net retention rate was 101%, down 700 basis points year-over-year due to macroeconomic challenges [2] - Remaining performance obligations as of January 31, 2024, were $1.305 billion, reflecting a 5% year-over-year increase (9% growth on a constant currency basis) [2] Operating Results - Non-GAAP gross margin was 78.4%, a contraction of 10 basis points from the same quarter last year [3] - Operating expenses totaled $178.99 million, up 1.8% year-over-year, with a contraction of 40 basis points in relation to revenues, bringing the percentage to 68.1% [3] - The non-GAAP operating margin was 26.7%, expanding 70 basis points from the prior-year quarter [3] Balance Sheet & Cash Flow - As of January 31, 2024, cash and cash equivalents were $383.7 million, an increase from $377.9 million as of October 31, 2023 [4] - Short-term investments rose to $96.9 million from $61.8 million in the previous fiscal quarter [4] - Accounts receivables increased to $281.5 million from $166.9 million at the end of the prior fiscal quarter [4] - Non-current debt was $370.8 million, slightly up from $370.3 million in the previous quarter [4] - Cash generated from operations was $89.3 million, up from $71.8 million in the previous fiscal quarter [4] - Free cash flow for the quarter was $81.3 million [5] Guidance - For the first quarter of fiscal 2025, Box expects revenues between $261 million and $263 million, indicating a potential 4% rise at the high end from the prior fiscal year's figure [5] - Non-GAAP earnings per share guidance is set between 35-36 cents, accounting for an expected foreign exchange headwind of 4 cents [5] - The non-GAAP operating margin for the first quarter is projected to be 25% [5] - For fiscal 2025, revenue is expected to be in the range of $1.08-$1.085 billion, suggesting a 5% increase from the last fiscal year's high end [6] - Non-GAAP earnings per share for the full fiscal year is anticipated to be between $1.53-$1.57, including a foreign exchange headwind of 10 cents [6] - The non-GAAP operating margin for the full fiscal year is expected to be 27% [6]

Box, Inc. (NYSE:BOX) Q4 2024 Earnings Conference Call March 5, 2024 5:00 PM ET Company Participants Cynthia Hiponia - Vice President, Investor Relations Aaron Levie - Co-Founder and Chief Executive Officer Dylan Smith - Co-Founder and Chief Financial Officer Conference Call Participants Joshua Baer - Morgan Stanley Pinjalim Bora - JPMorgan Steven Enders - Citi John Messina - Raymond James Richard Hilliker - UBS Sebastien Naji - William Blair George Iwanyc - Oppenheimer Rishi Jaluria - RBC Capital Markets Op ...

Box Inc.’s stock rose about 2% after hours Tuesday after the software company reported its first $1 billion fiscal year and announced a $100 million share-buyback program. “Customers in financial services are upgrading to Box AI,” Box Chief Executive Aaron Levie said in an interview, referring to a new suite of capabilities that will integrate advanced AI models into the Box Content Cloud. The company also announced integration with Microsoft Corp.’s MSFT, -2.96% Azure OpenAI on Box AI. “AI and data and ...

Core Insights - Box reported revenue of $262.88 million for the quarter ended January 2024, reflecting a year-over-year increase of 2.5% [1] - Earnings per share (EPS) for the quarter was $0.42, up from $0.37 in the same quarter last year [1] - The revenue slightly missed the Zacks Consensus Estimate of $262.92 million by 0.02%, while the EPS exceeded the consensus estimate of $0.38 by 10.53% [1] Financial Metrics - Billings for the quarter were $379.28 million, surpassing the average estimate of $371.54 million from six analysts [2] - The billings growth rate was 6%, exceeding the five-analyst average estimate of 4.2% [2] - Remaining performance obligations (RPO) at period end were $1.31 billion, matching the two-analyst average estimate [2] Stock Performance - Box shares have returned +6.5% over the past month, outperforming the Zacks S&P 500 composite's +3.6% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]

Box (BOX) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.53%. A quarter ago, it was expected that this online storage provider would post earnings of $0.38 per share when it actually produced earnings of $0.36, delivering a surprise of -5.26%.Over the last four quarters, the compa ...

Core Insights - Box, Inc. has announced a new integration with Microsoft Azure OpenAI Service to enhance its Box AI capabilities, providing advanced large language models to its customers [1][3] - Box AI is now generally available for customers on Enterprise Plus plans, allowing over 115,000 enterprises to leverage generative AI for improved content management and workflow efficiency [5][8] Integration and Collaboration - The collaboration with Microsoft, which spans over a decade, aims to bring AI to enterprises while ensuring data security, privacy, compliance, and governance [2][4] - Box AI is built on a platform-neutral framework, allowing it to connect with powerful AI models and meet strict compliance requirements across various industries [3] Use Cases and Applications - Financial services can utilize Box AI to extract insights from reports, aiding in market trend analysis and risk assessment [3] - Life Sciences organizations can expedite analysis of clinical trial data, enhancing understanding of trial outcomes [3] - Public sector agencies can derive insights from constituent feedback and policy research to inform decision-making [3] - Insurance companies can improve efficiency in claims processing through key information extraction [3] - Legal firms can streamline legal research by quickly identifying relevant information in complex texts [3] Customer Adoption and Feedback - Thousands of enterprises have adopted Box AI since its beta launch, using it to extract information, generate content, and derive insights [5] - Customers, such as nonprofit organizations, have highlighted the value of Box AI in enhancing their technology stack and maintaining business continuity during challenges like the pandemic [6] Microsoft 365 Integrations - Box has developed multiple integrations with Microsoft 365 and Teams to enhance productivity, including real-time collaboration on documents and streamlined sharing of Box content [7] Pricing and Availability - Box AI is included in all Enterprise Plus plans, offering individual users 20 queries per month, with an option for 2,000 additional queries at the company level [8]

Box, Inc. (BOX) is scheduled to report fourth-quarter fiscal 2024 results on Mar 5.For fourth-quarter fiscal 2024, Box expects revenues between $262 million and $264 million, suggesting a 3% rise at the high end of the range from the prior fiscal year’s reported figure. The constant currency growth rate is pegged at 5%. The Zacks Consensus Estimate for the same is pegged at $262.9 million, indicating 2.5% growth from the last fiscal year quarter’s reported value.Box anticipates non-GAAP earnings per share i ...

Revenue Performance - Fourth quarter revenue was $263 million, a 2% increase from $256.5 million in the same quarter last year, or 4% growth on a constant currency basis [4]. - Fiscal 2024 revenue reached $1.04 billion, a 5% increase from $0.991 billion in fiscal 2023, or 7% growth on a constant currency basis [9]. - Total revenue for the three months ended January 31, 2024, was $262,878,000, a 2% increase from $256,476,000 in the same period of 2023 [44]. - Revenue is expected to be in the range of $1.08 billion to $1.085 billion, representing a 5% year-over-year increase at the high end of the range, or 6% growth on a constant currency basis [24]. - For Q1 FY25, revenue is expected to be in the range of $261 million to $263 million, representing a 4% year-over-year increase at the high end of the range [17]. Profitability Metrics - Fourth quarter GAAP operating margin was 8%, while non-GAAP operating margin was 26.7%, both exceeding guidance [1]. - Fiscal 2024 GAAP net income per share was $0.67, and non-GAAP net income per share was $1.46, both exceeding guidance [1]. - GAAP net income attributable to common stockholders for the three months ended January 31, 2024, was $84,082 thousand, significantly higher than $14,370 thousand in the same period last year [52]. - Non-GAAP net income attributable to common stockholders for the fiscal year ended January 31, 2024, reached $216,673 thousand, compared to $180,406 thousand in 2023, reflecting a growth of 20.1% [52]. - GAAP operating margin is projected to be approximately 7%, while non-GAAP operating margin is expected to be around 27% [24]. Cash Flow and Financial Position - Non-GAAP free cash flow in the fourth quarter was $81.8 million, a 10% increase from $74.7 million in the same quarter last year [9]. - The company reported a net cash provided by operating activities of $89,339,000 for the three months ended January 31, 2024, compared to $92,187,000 in the same period of 2023 [47]. - Cash and cash equivalents as of January 31, 2024, were $383,742,000, down from $428,465,000 a year earlier, indicating a decrease of 10.5% [44]. - Total current assets increased to $842,180,000 as of January 31, 2024, compared to $806,763,000 in 2023, reflecting a growth of 4.4% [44]. - The company’s total stockholders' deficit improved to $(431,062,000) as of January 31, 2024, from $(523,851,000) in 2023, showing a reduction of 17.6% [44]. Performance Obligations and Billings - Remaining performance obligations (RPO) as of January 31, 2024, were $1.305 billion, a 5% increase from $1.245 billion a year earlier, or 9% growth on a constant currency basis [4]. - Box considers billings a significant performance measure, reflecting sales to new customers, subscription renewals, and expansions within existing customers [35]. - Billings for the three months ended January 31, 2024, were $379,278 thousand, an increase from $357,095 thousand in the same period of 2023, representing a growth of 6.2% [52]. - Remaining performance obligations (RPO) represent contracted revenue not yet recognized, consisting of deferred revenue and backlog, and are monitored as a leading indicator of future revenue [36]. - Deferred revenue at the end of the period for January 31, 2024, was $586,871 thousand, up from $566,630 thousand at the end of January 31, 2023 [52]. Stock Repurchase and Compensation - The company announced a new $100 million expansion of its stock repurchase program [12]. - The company incurred total stock-based compensation expenses of $47,266,000 for the three months ended January 31, 2024, compared to $44,984,000 in the same period of 2023, an increase of 5.1% [44]. - Stock-based compensation for the fiscal year ended January 31, 2024, was $198,783 thousand, compared to $185,632 thousand in 2023, showing an increase of 7.3% [52]. Future Outlook - The company expects fiscal year 2025 revenue to be impacted by a 170 basis point headwind from foreign exchange rates [13]. - GAAP net income per share attributable to common stockholders is anticipated to be between $0.22 and $0.26, with a negative impact of $0.10 from unfavorable exchange rates and $0.06 from deferred tax expenses [24]. - Non-GAAP diluted net income per share is expected to range from $1.53 to $1.57, also reflecting a negative impact of $0.10 from unfavorable exchange rates and $0.06 from deferred tax expenses [24]. - The company expects GAAP net income per share for the three months ending April 30, 2024, to be in the range of $0.04 to $0.05 [54]. - Non-GAAP operating margin guidance for the fiscal year ending January 31, 2025, is projected to be 27.0% [56]. Product Development and Strategic Focus - Box AI is now generally available to customers on Enterprise Plus plans, integrating advanced AI models into the Box Content Cloud [10]. - Box is focused on enhancing its platform and services, with ongoing investments in product development and strategic partnerships to drive growth [24]. - Box's management believes non-GAAP financial measures provide meaningful supplemental information regarding performance by excluding certain expenses not indicative of core business results [29].

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Box, Inc. (NYSE:BOX), the leading Content Cloud, today announced that it will host its FY25 Financial Analyst Day on Tuesday, March 19, 2024. Members of Box’s executive management team will host a presentation followed by Q&A beginning at 11:00 a.m. PT. Registration for this virtual event is available here. A live video webcast of the event will be accessible at www.box.com/investors. An archive of the webcast will be available for replay beginning approximately one ...

Core Insights - Box (BOX) is expected to report quarterly earnings of $0.38 per share, a 2.7% increase year-over-year, with revenues projected at $262.92 million, reflecting a 2.5% year-over-year growth [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' projections [1] - Analysts emphasize the importance of earnings projections revisions in predicting investor reactions and stock price movements [1] Financial Metrics - Analysts forecast 'Billings' to reach $371.54 million, up from $357.10 million a year ago [2] - The consensus estimate for 'Billings growth rate' is 4.2%, down from 6% in the previous year [2] - 'Remaining performance obligations (RPO)' are expected to reach $1.31 billion, compared to $1.25 billion a year ago [2] Stock Performance - Over the past month, Box shares have declined by 2.5%, while the Zacks S&P 500 composite has increased by 3.9% [3] - Box holds a Zacks Rank of 3 (Hold), suggesting its performance will likely align with the overall market in the near term [3]