- NYSE:BOX's billings grew 33% Y/Y in FQ4 to $82M. That's markedly slower than revenue growth of 61% (to $62.6M), and also below the 46% growth seen over the first 9 months of FY15.
- Top-line guidance (possibly conservative, given the guidance history of peers) is strong: FQ1 revenue of $63M-$64M vs. a $61.8M consensus, and FY16 (ends Jan. '16) revenue of $281M-$285M vs. a $276.9M consensus. But op. loss is still expected to equal 56%-58% of FQ1 revenue and 50%-52% of FY16 revenue, after amounting to 79.5% of revenue in FY15.
- Hurting EPS: GAAP operating expenses rose 33% Y/Y to $93.8M, thanks in part to a $5.4M increase in stock compensation spend (IPO-related). Sales/marketing spend (often criticized) rose 18% to $55.4M (equal to 88% of revenue); R&D rose 33% to $18M, and G&A 100% to $20.4M.
- Box ended FQ4 with 45K+ paid customers, up slightly from 44K+ at the end of FQ3. Paid customers are said to include over 22% of the Global 2000. With billings outpacing revenue, the deferred revenue balance rose 33% Y/Y to $120.1M.
- Shares have fallen to $17.88 AH.
- FQ4 results, PR
- Update (5:10PM ET): On the CC, CEO Aaron Levie states FQ4 EPS would've beat consensus by $0.34 (rather than missed by $0.48) if not for an incorrect estimate. The remarks haven't helped Box's shares: They're now down 16.5% AH.