BOX
Box, Inc.30.01
+0.30+1.01%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '26
Q&A rebuts AI threats, boosts platform thesis
Q&A dismissed AI disruption fears, with Levie arguing agents amplify Box's content platform role as their secure file system amid exploding unstructured data. Enterprise Advanced, now 10% of revenue, showed persistent 30%-40% pricing uplifts mainly from Enterprise Plus upgrades, fueling NRR stability at 104% in Q1 toward 104%-105% FY27 via seats and pricing. Management highlighted applied AI adoption in regulated verticals like data extraction, strong Q4 linearity from commercial strength, and API/AI unit monetization tailwinds. No walk-backs; answers reaffirmed prepared optimism. Agents need files. Investors await Analyst Day for multi-year growth details.
Key Stats
Market Cap
4.30BP/E (TTM)
24.01Basic EPS (TTM)
1.25Dividend Yield
0%Recent Filings
10-K
FY2026 results
Box delivered FY2026 revenue of $1.18B, up 8% y/y, driven by seat growth and strong multi-product Suites attach rates including Enterprise Plus and Advanced. RPO hit $1.71B, surging 17% y/y with short-term up 12% and long-term 22%, fueled by expansions, renewals, and new logos; non-cancellable backlog reached $1.06B. Billings climbed 10% to $1.22B on customer momentum, while operating income held steady at $83M (7.1% margin) despite $234M in stock-based comp. Cash from operations rose 7% to $357M, non-GAAP FCF edged up 3% to $313M; $293M share repurchases left $59M authorized. Q4 accelerated key metrics amid annual strength. Cybersecurity threats loom large.
8-K
Box Q4 revenue $306M, up 9%
10-Q
Q3 FY2026 results
Box revenue climbed 9% y/y to $301.1M in Q3 FY2026 ended October 31, 2025, with gross margin steady at 79.6% despite higher cloud costs; operating income edged up to $25.1M from $23.4M. YTD revenue rose 7% to $871.4M, but operating income fell to $52.0M from $61.7M due to workforce reorganization charges. Cash from operations hit $246.1M YTD, free cash flow not disclosed in the 10-Q; cash equivalents stood at $633.2M against $655.2M total convertible notes. Japan contributed 26% of revenue. Solid backlog growth offsets competition from Microsoft and Google.
8-K
Box Q3 revenue up 9%
10-Q
Q2 FY2026 results
Box's Q2 FY2026 revenue climbed 9% y/y to $294M, fueled by seat expansions and strong uptake of multi-product Suites, though partially offset by some customer churn; gross margin held steady at 79.1% amid higher public cloud costs. Operating income edged up to $20.6M (7.0% margin), but net income dipped to $13.4M due to elevated taxes and interest on convertible notes, with diluted EPS at $0.05 on 151M shares—consistent with reported figures. Cash swelled to $658M, bolstered by $173M YTD operating cash flow, while free cash flow (derived as operating cash minus capex and software capitalization) reached $154M; total debt stands at $654M across 2026 and 2029 notes, with $75M revolver undrawn. Japan contributed 26% of revenue, underscoring geographic momentum. Yet competition from Microsoft and Google keeps pricing pressure in check.
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