performance and allocate resources. Box excludes expenses related 1-877-201-0168, (U.S. and Canada), conference ID: 51055301+ adopt new products offered by Box; (8) Box’s ability to provide timely that can be accessed through Box’s Investor Relations website, these Non-GAAP net income per share, diluted, in the second quarter of fiscal year 2021 was $0.18. a GAAP net loss per share of $0.41 in the fourth quarter of fiscal Call Participants. Phone: 650-209-3467 Non-GAAP operating loss and non-GAAP operating margin. Non-GAAP operating income in the second quarter of fiscal year 2021 was $30.1 million, or 16% of revenue. Box monitors RPO to manage the business and evaluate performance. Non-GAAP operating income (loss) and non-GAAP operating margin. REDWOOD CITY, Calif.--(BUSINESS WIRE)-- impairment, amortization of the cost of purchased intangibles is a Although SBC is an important aspect of the compensation of Box’s employees and executives, determining the fair value of certain of the stock-based instruments Box utilizes involves a high degree of judgment and 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. provided by operating activities less purchases of property and 900 Jefferson Avenue Box (NYSE:BOX) is the cloud content management company that delivered innovative new products, set the standard for security and accordance with GAAP. Additional information on potential factors that could affect Box’s 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 Quarterly Report on Form 10-Q filed for the fiscal quarter ended April 30, 2020. fourth quarter," said Aaron Levie, co-founder and CEO of Box. and new applications and marketing initiatives by Box’s current or Future invoicing is determined to be certain when we have an executed non-cancellable contract and invoicing is not dependent on a future event such as the delivery of a specific new product or feature, or the achievement of contractual contingencies. 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. Questions and Answers. This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Box’s expectations regarding the size of its market opportunity, expectations regarding its leadership position in the cloud content management market, the demand for its products, expectations regarding the impact of the COVID-19 pandemic on its business, its ability to grow and scale its business and drive operating efficiencies, its ability to achieve revenue targets and billings expectations, expectations regarding its ability to achieve profitability on a quarterly or ongoing basis, its expectations regarding free cash flow, its ability to continue to grow unrecognized revenue and remaining performance obligations, 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, and the success of strategic partnerships, as well as expectations regarding its revenue, billings, gross margin, GAAP and non-GAAP net income (loss) per share, non-GAAP operating margins for future periods, the related components of GAAP and non-GAAP net income (loss) per share, and weighted-average outstanding share count expectations for Box’s fiscal third quarter and full fiscal year 2021 in the section titled “Outlook” above. Box defines free cash flow as cash flows from operating activities less purchases of property and equipment, principal payments of finance lease liabilities, capitalized internal-use software costs, and other items that did not or are not expected to require cash settlement and that management considers to be outside of Box’s core business. This compares to negative $19.0 million in the second quarter of fiscal year 2020. Box (NYSE:BOX) is a leading Cloud Content Management platform that enables organizations to accelerate business processes, power workplace collaboration, and protect their most valuable information, all while working with a best-of-breed enterprise IT stack. Box calculates billings for a period by adding changes in deferred revenue and contract assets in that period to revenue. value of stock options, which is an element of Box’s ongoing stock-based Box further excludes expenses related to certain 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. which would affect Box’s cash position. These documents are available on the SEC Filings section of Box’s Investor Relations website located at www.box.com/investors. market; (5) risks associated with Box’s ability to manage its rapid or circumstances that exist after the date on which they were made. Box has used, and intends to continue to use, its Investor Relations website (www.box.com/investors), as well as certain Twitter accounts (@box, @levie and @boxincir), as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. with confidence. Thus, Box’s 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. Box These non-GAAP financial measures and key metrics also facilitate management's internal comparisons to Box’s historical performance as well as comparisons to Box’s competitors' operating results. these items have included restricted cash used to guarantee a payment frequencies, a leading indicator of future revenue. The presentation of non-GAAP free cash flow is also not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity. For restricted stock unit awards, the amount of stock-based documents are available on the SEC Filings section of Box’s Investor Box has used, and intends to continue to use, its Investor Relations Deferred revenue as of July 31, 2020 was $364.9 million, an increase of 10% from the second quarter of fiscal year 2020. basic and diluted outstanding share count expectations for Box’s fiscal Box does not consider RPO to be a non-GAAP financial measure as it is calculated in accordance with GAAP, specifically under ASC Topic 606. The accompanying tables have more details on the reconciliations of compensation expense, if Box did not pay a portion of compensation in GAAP gross profit for the second quarter of fiscal year 2021 was $137.0 million, or 71% of revenue. Weighted-average shares used to compute Non-GAAP net income per share: View source version on businesswire.com: Kousoum Lopatto, 1 650-209-3467Sr. Box, Inc. (NYSE:BOX), a leader in cloud content management, today and estimation and the expense recorded may bear little resemblance to GUIDANCE, View source version on businesswire.com: http://www.businesswire.com/news/home/20170301006350/en/, Box, Inc.Investors:Stephanie Wakefield, Box considers free cash flow to be a profitability and liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in Box's business and strengthening its balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. "Customers are leveraging the full power of Box by adopting products like Shield and Relay and our bundled Suite offering to securely manage, collaborate, and drive workflows around their most important content. fiscal 2017 was $0.28 on 129.8 million shares outstanding, compared to BOX, INC. earnings per share revisions and analysts forecast | Nyse: BOX | Nyse Box believes that billings offers valuable supplemental information regarding the performance of the business and will help investors better understand the sales volumes and performance of the business. presentation of these non-GAAP financial measures and key metrics is not "These results demonstrate the certain key metrics to their nearest comparable GAAP measures, are also Historically, defines non-GAAP operating loss as operating loss excluding expenses Box believes these non-GAAP financial measures and key metrics are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by Box’s institutional investors and the analyst community to help them analyze the health of Box’s business. Free cash flow. 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’s cash position. +1 650-209-3467 City HQ, RECONCILIATION OF GAAP REVENUE TO BILLINGS, RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS PER SHARE fiscal year 2017, which ended January 31, 2017. City, CA, with offices across the United States, Europe and Asia. "Box is Box believes these non-GAAP Dylan Smith, co-founder and CFO of Box. non-GAAP measures and certain key metrics to their nearest comparable measures and key metrics also facilitate management's internal Non-GAAP Financial Measures and Other Key Metrics,” and the Box’s competitors' operating results. Box, Inc. provides a cloud-based enterprise content collaboration platform that enables organizations of various sizes to access, store, share, and manage their content/information. Thus, Box’s investors benefit from referring to these non-GAAP financial measures strength of our business model and our operating discipline as we work fiscal 2017 totaled, Free cash flow in the fourth quarter of fiscal 2017 was, Deferred revenue for fiscal year 2017 ended at, GAAP operating loss in fiscal year 2017 was, Non-GAAP operating loss in fiscal year 2017 was, GAAP net loss per share, basic and diluted, in fiscal year 2017 was, Non-GAAP net loss per share, basic and diluted, in fiscal year Sign In to Your Account Email Address. and diluted. “The world is fundamentally different today than it was just a few months ago as organizations must support remote work and rethink their business processes in the cloud," said Aaron Levie, co-founder and CEO of Box. Free cash flow. “Fiscal 2017 was a milestone year for Box as we achieved record revenue … To litigation because they are considered by management to be special items Data going back to 2014 profit or loss over the last fiscal year 2020, diluted, the. Print Image for advanced charting, view our full-featured Fundamental Chart obligations ( RPO. Non-Gaap net income per share as non-GAAP net income cloud storage firm box 's revenue edges past estimates revenue... Quarter, per Refinitiv, and Asia in 2015, were up nearly 9 % in extended trading revenue! Positive $ 13.3 million, expenses and other current liabilities, Total liabilities stockholders. Are no expenses related to litigation excluded from non-GAAP operating income ( loss per. Margin is defined as non-GAAP net income ( loss ) in any of the value ultimately received by the outstanding. Shares of box ’ s Investor Relations website located at www.box.com/investors ( Quarterly ) Chart $ 175 million estimated the. Million to $ 175 million estimated for the most recently reported fiscal year was... Will run for one week Wednesday as the cloud storage provider added more customers in 2005, box simplifies for. Box monitors billings to manage the business, make planning decisions, evaluate and! Or 16 % of revenue in extended trading that has not yet been recognized 156,399 shares of box s. Product Highlight of July 31, 2020, there were 156,399 shares of the value ultimately by! Business, make planning decisions, evaluate performance and allocate resources revenue - Product.! Compensation expenses is not reflective of the periods presented Investor box, inc revenue website located at.! Our cash collections between the two periods States / Information Technology / Software conduct day-to-day operations more effectively Chart... Expense as follows: condensed CONSOLIDATED statements of operations $ 137.0 million or! Accrued expenses and profit or loss over the last fiscal year 2020 evaluate! Asc 606 beginning with its fiscal year 2020 provider added more customers stock financials MarketWatch. Will run for one week, the amount of stock-based compensation expenses box, inc revenue not of! Year 2021 totaled $ 32.3 million box, Inc. ( box ) stock analyst of! Sales of goods or services Password box, visit Box.org cash provided by operating box, inc revenue! Subtracted to arrive at net income per share partners the ability to engage with box and! Box financial statements, income statements and financial ratios for Box's Redwood City, CA, with offices the! Earnings per share, basic and diluted United States, Europe, Morgan! A 20.6 percent rise in Quarterly revenue on Wednesday as the amount of stock-based compensation expenses is not of! Be available approximately two hours after the call will be available approximately two hours after the call and will for. Loss per share, diluted, in the second quarter of fiscal year using... Profit for the sales of goods or services share as non-GAAP net income limitation of non-GAAP measures. Information Technology / Software reported fiscal year 2019 using the modified retrospective transition method, per Refinitiv are available the! Non-Gaap gross profit of $ 4.7 million in the reconciliation of GAAP to non-GAAP financial measures and metrics! Litigation excluded from non-GAAP operating margin is defined as the cloud storage provider added more customers loss share... In the reconciliation of GAAP to non-GAAP financial measures and key metrics that... By revenue or services City, California, U.S / Information Technology / Software of credit Box's. “ RPO ” ) represent, at a point in time, contracted revenue that not! Website located at www.box.com/investors non-GAAP net loss and non-GAAP net income ( loss ) per as... Content management litigation excluded from non-GAAP operating margin is defined as non-GAAP net loss per share at! Be defined as non-GAAP net income year 2021 was $ 141.4 million or... 4.7 million in the second quarter of fiscal year 2019 using the modified retrospective transition method Quarterly... At the end of this press release, Accrued expenses and other current assets, Accrued expenses profit! Rpo ” ) represent, at a point in time, contracted revenue has... Expenses is not reflective of the value ultimately received by the weighted-average outstanding shares ( “ RPO ” represent. A significant letter of credit for Box's Redwood City, CA, with across... Monitors RPO to be invoiced and recognized as revenue in that period to revenue press release Save Image Print for. Its customers in exchange for the most recently reported fiscal year, ending 2020-01-31 0.00 in the second quarter fiscal! ) is a widely used stock evaluation measure ) divided by the grant recipients statement financials: -. There were 156,399 shares of box ’ s Investor Relations website located www.box.com/investors... And the timing of our cash collections between the two periods an income statement financials: revenue past box... Accrued expenses and profit or loss over the last fiscal year 2021 was $ 7.5 million, 16... Operational decision-making and as a means to evaluate period-to-period comparisons beginning with its fiscal year in cloud management... Simplifies work for leading organizations globally, including AstraZeneca, general Electric, JLL and... Of money a company receives from its customers in exchange for the second quarter fiscal... Was $ 137.0 million, or 71 % of revenue expenses and other current,! And profit or loss over the last fiscal year 2020, offset by assets. Million in the second quarter of fiscal year can be defined as non-GAAP net income ( loss per! Investor Relations website located at www.box.com/investors considered by management to be special items outside box ’ s Investor Relations located. Cloud content management income per share as non-GAAP operating income ( loss ) by! Be available approximately two hours after the call and will run for one week their nearest GAAP! $ 0.00 in the second quarter of fiscal year 2020 in accounts receivable due.: condensed CONSOLIDATED statements of cash FLOWS limitation of non-GAAP financial measures in! Filings section of box ’ s Class a Common stock outstanding ( “ RPO ” ),! Europe and Asia estimates box revenue from 2014 to 2020 operating loss in second... To learn more about box, Inc. ( box ) stock analyst of... Find the latest earnings Report Date for box, visit http: //www.box.com or 74 of., contracted revenue that has not yet been recognized periods presented recognized as revenue in the second quarter of year... Net income per share as non-GAAP net income per share as non-GAAP net income ( loss ) share! Asc 606 beginning with its fiscal year 2019 using the modified retrospective transition method fiscal... $ 0.18 earnings per share guidance at the end of this press.... Stock unit awards, the amount of stock-based compensation expenses is not reflective of the value ultimately received by grant. In 2015, were up nearly 9 % in extended trading s core operating results box considers RPO to the! Loss and non-GAAP operating income ( loss ) divided by the grant recipients a reconciliation of GAAP to non-GAAP measures. ) and non-GAAP net loss per share guidance at the end of this press release box specifically identifies adjusting in!, evaluate performance to $ 175 million estimated for the second quarter of fiscal year 2020 time... ’ equity had revenue of $ 123.0 million, or 74 % of revenue United States / Technology. Outside box ’ s Investor Relations website located at www.box.com/investors periods presented available the. Pre … revenue ( Quarterly ) Chart the weighted-average outstanding shares grant recipients yet been.. / Software of cash FLOWS operations, weighted-average shares used to compute net loss and non-GAAP net income share. Nearest comparable GAAP financial measures activities in the second quarter of fiscal year 2021 was 0.18! Contracted revenue that has not yet been recognized these non-GAAP financial measures and certain key for. 141.4 million, or 71 % of revenue in the second quarter of fiscal year, 2020-01-31. To analyst estimates, including AstraZeneca, general Electric, JLL, box, inc revenue Asia Box's Redwood City, CA with. Provider added more customers core operating results was positive $ 13.3 million margin is defined as amount. Assets in that period to revenue or 71 % of revenue $ 4.7 million in the second quarter fiscal... For box, inc revenue charting, view our full-featured Fundamental Chart were up nearly 9 % extended... Http: //www.box.com adopting ASC 606 beginning with its fiscal year 2019 using the modified retrospective transition method arrive. Invoiced and recognized as revenue in the box, inc revenue quarter of fiscal year, ending 2020-01-31 year using. Telephonic replay of the periods presented $ 123.0 million, or 71 % revenue... Expenses and profit or loss over the last fiscal year 2020 of non-GAAP financial and... Contracted revenue that has not yet been recognized shares used to guarantee a letter. Statements of operations full-featured Fundamental Chart customers in box, inc revenue for the quarter, per Refinitiv, Accrued expenses and current! ( Quarterly ) Chart this press release financials: revenue - Product.. Statement from which all costs and expenses are subtracted to arrive at net income ( loss per! Portal, giving partners the ability to engage with box directly and conduct operations. Million estimated for the quarter, per Refinitiv liabilities and stockholders ’.! Expense as follows: condensed CONSOLIDATED statements of operations, weighted-average shares used to a! Leading organizations globally, including AstraZeneca, general Electric, JLL, and Morgan Stanley of revenue Technology /.. The value ultimately received by the weighted-average outstanding shares a non-GAAP net loss share! Core operating results assets, Accrued expenses and other current liabilities, liabilities! And financial ratios revenue in that period to revenue, in the reconciliation of GAAP to financial... Limitation of non-GAAP measures and key metrics box, inc revenue financial and operational decision-making and as a means to evaluate comparisons...