![](\"https:\/\/mms.businesswire.com\/media\/20260525357806\/en\/589878\/5\/box_blue_%282%29.jpg\")
<\/a><\/a>\n\u201cBox delivered a strong start to FY27 as organizations are increasingly turning to our Intelligent Content Management platform to unlock more value from their unstructured data with AI,\u201d said Aaron Levie, co-founder and CEO of Box. \u201cCustomers are adopting Enterprise Advanced to manage and connect their organization\u2019s unique content to AI agents allowing them to securely build intelligent workflows, automate work, and accelerate decision-making at scale. We are continuing to innovate rapidly across our platform and are excited by the opportunity ahead as we remain at the center of customers\u2019 broader AI ecosystems.\u201d<\/p>
\n\u201cWe delivered robust first quarter results, exceeding our guidance on revenue, billings, operating margin and net retention rate,\" said Dylan Smith, co-founder and CFO of Box. \u201cContinued customer adoption of Enterprise Advanced and our Box AI solutions are driving accelerating revenue growth and expanding operating margins. We remain focused on executing against the significant opportunity in front of us and on delivering long-term value for our shareholders.\u201d<\/p>
\nFiscal First Quarter Financial Highlights<\/b><\/p>
\nAll comparisons are against the prior year comparable quarter<\/i><\/p> \nGrowth on a constant currency basis and impact from foreign exchange is determined by comparing current period reported results with the current results calculated using the equivalent rates in the prior period, excluding the effect of hedging.<\/p> \nFor more information on the non-GAAP financial measures and key metrics discussed in this press release, please see the section titled, \u201cAbout Non-GAAP Financial Measures and Other Key Metrics,\u201d and the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures at the end of this press release.<\/p> \nRecent Business Highlights<\/b><\/p> \nUpdate on Share Repurchase Plan<\/b><\/p> \nIn the first quarter of fiscal year 2027, Box repurchased 4.8 million shares for approximately $114 million. As of April 30, 2026, approximately $445 million of buyback capacity was remaining under Box\u2019s current share repurchase plan. Box remains committed to opportunistically returning capital to its shareholders through an ongoing stock repurchase program.<\/p> \nOutlook<\/b><\/p> \nApproximately 35% of Box\u2019s revenue is generated outside of the U.S., of which approximately 70% is in Japanese Yen. The following guidance includes the expected impact of FX headwinds, assuming present foreign currency exchange rates.<\/p> \nAll forward-looking non-GAAP financial measures contained in this section titled \u201cOutlook\u201d exclude estimates for stock-based compensation expense, acquired intangible assets amortization, and as applicable, other special items. Box has provided a reconciliation of GAAP to non-GAAP net income per share and operating margin guidance at the end of this press release.<\/p> \nQ2 FY27 Guidance<\/b><\/p> \nFull Year FY27<\/b><\/p> \nWebcast and Conference Call Information<\/b><\/p> \nBox\u2019s management team will host a conference call today beginning at 2:00 p.m. (PT) \/ 5:00 p.m. (ET) to discuss Box\u2019s financial results, business highlights and future outlook. A live audio webcast of this call will be available through Box\u2019s Investor Relations website at www.boxinvestorrelations.com<\/a> for a period of 90 days after the date of the call. Prepared remarks will be available on the Box Investor Relations website after the call ends.<\/p> \nThe conference call can be accessed by registering online at https:\/\/events.q4inc.com\/attendee\/791043542<\/a> at which time registrants will receive dial-in information as well as a conference ID.<\/p> \nBox has used, and intends to continue to use, its Investor Relations website (www.box.com\/investors<\/a>), as well as certain X accounts (@box and @levie), as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Information on or that can be accessed through Box\u2019s Investor Relations website, these X accounts, or that is contained in any website to which a hyperlink is provided herein is not part of this press release, and the inclusion of Box\u2019s Investor Relations website address, these X accounts, and any hyperlinks are only inactive textual references.<\/p> \nThis press release, the financial tables, as well as other supplemental information including the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures, are also available on Box\u2019s Investor Relations website. Box also provides investor information, including news and commentary about Box\u2019s business and financial performance, Box\u2019s filings with the Securities and Exchange Commission, notices of investor events and Box\u2019s press and earnings releases, on Box\u2019s Investor Relations website.<\/p> \nForward-Looking Statements<\/b><\/p> \nThis press release contains forward-looking statements that involve risks, uncertainties, and assumptions, including statements regarding Box\u2019s expectations regarding its growth and profitability, the size of its market opportunity, its investments in go-to-market programs, the demand for its products, the potential of AI and its impact on Box, the timing of recent and planned product introductions, enhancements and integrations, the short- and long-term success, market adoption and retention, capabilities, and benefits of such product introductions and enhancements, the success of strategic partnerships and acquisitions, the impact of macroeconomic conditions on its business, its ability to grow and scale its business and drive operating efficiencies, the impact of fluctuations in foreign currency exchange rates on its future results, its net retention rate, its ability to achieve revenue targets and billings expectations, its revenue and billings growth rates, its ability to expand operating margins, its long-term financial targets, its ability to maintain profitability on a quarterly or ongoing basis, its free cash flow, its ability to continue to grow unrecognized revenue and remaining performance obligations, its revenue, billings, GAAP and non-GAAP gross margins, GAAP and non-GAAP net income per share, GAAP and non-GAAP operating margins, the related components of GAAP and non-GAAP net income per share, weighted-average outstanding share count expectations for Box\u2019s fiscal second quarter and full fiscal year 2027 in the section titled \u201cOutlook\u201d above, equity burn rate, any potential repurchase of its common stock, whether, when, in what amount and by what method any such repurchase would be consummated, and the share price of any such repurchase. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: (1) adverse changes in general economic or market conditions, including those caused by changes in tariffs, sanctions, international treaties, export\/import laws and other trade restrictions, the Russia-Ukraine conflict and the ongoing conflicts in the Middle East, inflation, and fluctuations in foreign currency exchange rates; (2) delays or reductions in information technology spending; (3) factors related to Box\u2019s highly competitive market, including but not limited to pricing pressures, industry consolidation, entry of new competitors and new applications and marketing initiatives by Box\u2019s current or future competitors; (4) the development of the intelligent content management market; (5) the risk that Box\u2019s customers do not renew their subscriptions, expand their use of Box\u2019s services, or adopt new products offered by Box on a timely basis, or at all; (6) Box\u2019s ability to provide timely and successful enhancements, integrations, new features and modifications to its platform and services; (7) actual or perceived security vulnerabilities in Box\u2019s services or any breaches of Box\u2019s security controls; (8) Box\u2019s ability to realize the expected benefits of its third-party partnerships; and (9) Box\u2019s ability to successfully integrate acquired businesses and achieve the expected benefits from those acquisitions. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Box. While Box believes these estimates are meaningful, they could differ from the actual amounts that Box ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2026. Box assumes no obligations and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended April 30, 2026.<\/p> \nAdditional information on potential factors that could affect Box\u2019s financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings Box makes with the Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K filed for the fiscal year ended January 31, 2026. These documents are available on the SEC Filings section of Box\u2019s Investor Relations website located at www.boxinvestorrelations.com<\/a>. Box does not assume any obligation to update the forward-looking statements contained in this press release to reflect events that occur or circumstances that exist after the date on which they were made.<\/p> \nAbout Non-GAAP Financial Measures and Other Key Metrics<\/b><\/p> \nTo supplement Box\u2019s consolidated financial statements, which are prepared and presented in accordance with GAAP, Box provides investors with certain non-GAAP financial measures and other key metrics, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to common stockholders, non-GAAP net income per share attributable to common stockholders, billings, remaining performance obligations, non-GAAP free cash flow and free cash flow margin. The presentation of these non-GAAP financial measures and key metrics is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures and key metrics, please see the reconciliation of these non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures at the end of this press release.<\/p> \nBox uses these non-GAAP financial measures and key metrics for financial and operational decision-making (including for purposes of determining variable compensation of members of management and other employees) and as a means to evaluate period-to-period comparisons. Box\u2019s management believes that these non-GAAP financial measures and key metrics provide meaningful supplemental information regarding Box\u2019s performance by excluding certain expenses that may not be indicative of Box\u2019s recurring core business operating results. Box believes that both management and investors benefit from referring to these non-GAAP financial measures and key metrics in assessing Box\u2019s performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures and key metrics also facilitate management's internal comparisons to Box\u2019s historical performance as well as comparisons to Box\u2019s competitors' operating results. Box believes these non-GAAP financial measures and key metrics are useful to investors both because they (1) allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) are used by Box\u2019s institutional investors and the analyst community to help them analyze the health of Box\u2019s business.<\/p> \nA limitation of non-GAAP financial measures and key metrics is that they do not have uniform definitions. Further, Box\u2019s definitions will likely differ from the definitions used by other companies, including peer companies, and therefore comparability may be limited. Thus, Box\u2019s non-GAAP financial measures and key metrics should be considered in addition to, and not as a substitute for, or in isolation from, measures prepared in accordance with GAAP. Additionally, in the case of stock-based compensation expense, if Box did not pay a portion of compensation in the form of stock-based compensation expense, the cash salary expense included in cost of revenue and operating expenses would be higher, which would affect Box\u2019s cash position. The accompanying tables have more details on the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures.<\/p> \nNon-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to common stockholders, and non-GAAP net income per share attributable to common stockholders. <\/i>Box defines these non-GAAP financial measures as the respective GAAP measures, excluding expenses related to stock-based compensation (\u201cSBC\u201d), acquired intangible assets amortization, and as applicable, other special items. Although SBC is an important aspect of the compensation of Box\u2019s employees and executives, determining the fair value of certain of the stock-based instruments Box utilizes estimation and the expense recorded may bear little resemblance to the actual value realized upon the vesting or future exercise of the related stock-based awards. Management believes it is useful to exclude SBC in order to better understand the long-term performance of Box\u2019s core business and to facilitate comparison of Box\u2019s results to those of peer companies. Management also views amortization of acquired intangible assets, such as the amortization of the cost associated with an acquired company\u2019s developed technology and trade names, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense that is not typically affected by operations during any particular period. Box excludes the following expenses as they are considered by management to be special items outside of Box\u2019s core operating results: (1) expenses related to certain litigation, (2) expenses associated with a non-recurring workforce reorganization, consisting primarily of severance and other personnel-related costs, and (3) expenses related to acquisitions. In addition to these expenses, Box excludes the following items to calculate non-GAAP net income attributable to common stockholders: (1) amortization of debt issuance costs, (2) induced conversion of convertible notes, (3) the income tax benefit from the release of a valuation allowance on deferred tax assets, (4) non-recurring benefits of federal research and development (\u201cR&D\u201d) credits carryforwards and related uncertain tax positions, (5) the income tax effects of non-GAAP adjustments, and (6) undistributed earnings attributable to preferred stockholders. Non-GAAP gross margin and non-GAAP operating margin are defined as non-GAAP gross profit and non-GAAP operating income as a percentage of revenue, respectively. Non-GAAP net income per share attributable to common stockholders is defined as non-GAAP net income attributable to common stockholders divided by the weighted-average outstanding shares.<\/p> \nBillings.<\/i> Billings reflect, in any particular period, (1) sales to new customers, plus (2) subscription renewals and (3) expansion within existing customers, and represent amounts invoiced for all products and professional services. Box calculates billings for a period by adding changes in deferred revenue and contract assets in that period to revenue. Box believes that billings help investors better understand sales activity for a particular period, which is not necessarily reflected in revenue as a result of the fact that Box recognizes subscription revenue ratably over the subscription term. Box considers billings a significant performance measure. Box monitors billings to manage the business, make planning decisions, evaluate performance and allocate resources. Box believes that billings offers valuable supplemental information regarding the performance of the business and helps investors better understand the sales volumes and performance of the business. Although Box considers billings to be a significant performance measure, Box does not consider it to be a non-GAAP financial measure because it is calculated using exclusively revenue, deferred revenue, and contract assets, all of which are financial measures calculated in accordance with GAAP.<\/p> \nRemaining performance obligations.<\/i> Remaining performance obligations (\u201cRPO\u201d) represent, at a point in time, contracted revenue that has not yet been recognized. RPO consists of deferred revenue and backlog. Backlog is defined as non-cancellable contracts deemed certain to be invoiced and recognized as revenue in future periods. Future invoicing is determined to be certain when we have an executed non-cancellable contract or a significant penalty that is due upon cancellation. While Box believes RPO is a leading indicator of revenue as it represents sales activity not yet recognized in revenue, it is not necessarily indicative of future revenue growth as it is influenced by several factors, including seasonality, contract renewal timing, average contract terms and foreign currency exchange rates.<\/p> \nInvestors:<\/i> Revenue of $306 Million, up 11% Year-Over-Year, up 10% in Constant Currency\n
\n
\n
\n
\nRemaining Performance Obligations of $1.6 Billion, up 12% Year-Over-Year, up 16% in Constant Currency
\nGAAP Operating Margin of 9% and Non-GAAP Operating Margin of 27.7%
\nGAAP N…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11329","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/11329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11329"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/11329\/revisions"}],"predecessor-version":[{"id":11330,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/11329\/revisions\/11330"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}