Wed, Nov. 30, 4:25 PM
- Results – revenue $102.8M (+30.7% Y/Y, $2.16M above estimates), EPS -$0.14 ($0.05 above estimates), deferred revenue $192.6M (+36% Y/Y), cash flow from operations +$10.5M Y/Y, billings $112.4M (+26% Y/Y), operating loss $17.3M (vs. $37.9M loss Y/Y), net cash used in operating activities $6.8M (vs. $17.3M Y/Y), free cash flow -$10.9M (vs. -$37.8M Y/Y)
- Q4 projections – revenue $108M-$109M (consensus $108.75M), EPS -$0.14 to -$0.13 (consensus -$0.16)
- FY 2017 projections – revenue $397M-$398M (prior $394M-$396M, consensus $395.17M), EPS -$0.60 to -$0.59 (prior -$0.69 to -$0.67, consensus -$0.68)
- Box (NYSE:BOX) co-founder and CEO Aaron Levie: "We reached a significant milestone with our first $100 million quarter. We also hosted our most successful BoxWorks to date and announced a new strategic partnership with Google. With our track record of product innovation and continued momentum with new and existing customers, Box is uniquely positioned to help businesses modernize how they manage information and transform how they work."
- Prior quarters overview
- Conference call
- Press release
Wed, Nov. 30, 4:06 PM
Tue, Nov. 29, 5:35 PM
Mon, Nov. 28, 11:31 AM
- Supposition Box (NYSE:BOX) could eventually become a takeover target by Microsoft is issued today by Rafi Kronzon, CEO of New York-based technology services and support firm Cartwheel, noting, "Microsoft is letting Box come into the Office 365 space. I suspect Microsoft will someday acquire Box or Dropbox."
- Also this morning, Drexel Hamilton's Brian White restates a Buy position and $18 target (current price $15.72) on Box ahead of Q3 earnings expected Wednesday. Firm estimates revenue at $100.7M and loss per share at $0.19.
- Box shares to $15.72.
Tue, Oct. 18, 10:06 PM
- Among a cache of Colin Powell emails released by hackers was a presentation prepared in May for the Salesforce.com (NYSE:CRM) board (on which sits Powell) titled "M&A Target Review."
- Partial presentation slides
- The 60-slide document identified 14 possible acquisition targets. Among them were Adobe Systems (NASDAQ:ADBE), whose market cap of $53.7B is above that of Salesforce, and Pegasystems (NASDAQ:PEGA), with a $2.3B valuation.
- The list also included Demandware, which Salesforce ended up buying, and LinkedIn, which the company lost in a bidding war with Microsoft.
- Others: Workday (NYSE:WDAY), ServiceNow (NYSE:NOW), NetSuite (NYSE:N), Tableau (NYSE:DATA), Veeva Systems (NYSE:VEEV), BOX, Zendesk (NYSE:ZEN), HubSpot (NYSE:HUBS).
- CEO Marc Benioff earlier this month when fending off complaints about his interest in Twitter: “We look at a lot of things and we pass on almost everything."
Thu, Sep. 15, 2:45 PM
- Analyst Brian White maintains a Buy rating and $18 target (current price $14.86), noting Box (BOX +2%) is focused on product innovation and forming strategic partnerships.
- For an SaaS company, White sees the company's present valuation disproportionately lower than its peers.
- He projects CY 2016 revenue of $395.9M and sees an extended runway for growth.
Tue, Sep. 6, 12:52 PM
- Box Relay is part of a redesigned Box (BOX +1.9%) platform expected to be detailed tomorrow.
- Box co-founder and CEO Aaron Levie: "Workflow in the enterprise is broken – complex, fragmented software and manual processes are getting in the way of productivity. The all new Box is a place where all of your work comes together. Box Relay delivers on this vision by providing anyone with an easy way to create, track and manage routine processes without ever having to leave Box. Box Relay is enterprise workflow made simple."
- IBM Analytics' (IBM +0.2%) general manager of collaboration solutions, Inhi Cho: "As businesses embark on the journey to become cognitive, the ability for teams to collaborate and iterate on content, surface new insights, and collaborate naturally are key. Our successful partnership with Box is helping companies along this journey. This first joint solution from IBM and Box enables businesses to create a simpler digital workflow across different functions to help reduce the time spent managing projects and boost team productivity. This is possible by combining the power of IBM Cloud with Box’s leading content management platform."
- Box Relay is set for a beta launch in Q4 and general availability in H1 2017 as an add-on feature for business users.
- Press release
- IBM and Box
- IBM blog post
Wed, Aug. 31, 6:14 PM
- Box (NYSE:BOX) recorded 34% Y/Y billings ($107M) growth and 40% Y/Y deferred revenue ($183M) growth. Operating loss came in at $17.9M (19% of revenue) vs. $32.7M (45% of revenue) Y/Y. Net cash used in operating activities was $4.9M, a 77% Y/Y improvement ($21.7M in Q2 2016). Free cash flow was negative $8M vs. negative $39.8M Y/Y.
- Projects Q3 revenue of $100M-$101M and raises FY 2017 revenue estimate from $391M-$395M to $394-$396M. Projects basic and diluted Q3 loss per share of $0.35-$0.36 and $0.19-$0.20, respectively. Projects both basic and diluted FY 2017 loss per share of $0.67-$0.69, up from previously estimated $0.75-$0.78 loss.
- Earnings deck
- Conference call
- Press release
Wed, Aug. 31, 4:07 PM
Tue, Aug. 30, 5:35 PM
Mon, Aug. 15, 12:21 PM
- The report notes Dropbox (Private:DROPB) management's willingness to evaluate public valuation and the viability of a listing.
- Last November, Dropbox CEO Drew Houston stated the company "had no plans to go public anytime soon."
- Valuation for the company is around $10B based on a 2014 funding round. Comparably, competitor Box (BOX +3.2%) has a present market capitalization of $1.64B.
- Dropbox is not profitable, registers positive free cash flows, counts 500M registered users and 200,000 enterprise customers.
Thu, Jun. 2, 3:00 PM
Thu, Jun. 2, 9:15 AM
Wed, Jun. 1, 5:41 PM
Wed, Jun. 1, 4:41 PM
- Box Inc. (NYSE:BOX) is 7.4% lower after hours despite a Q1 earnings beat and earnings guidance above consensus, but billings short of expectations.
- Revenues hit a record $90.16M after growing 37%. Operating losses narrowed, as did net loss on a GAAP and non-GAAP basis.
- But billings came in at $75.9M (up 9% Y/Y) while analysts were looking for $84M. The company said billings were affected by increasing seasonality, and a focus on annual payment durations this year vs. multi-year prepayments.
- Box added more than 5,000 new paying customers, growing that base to 62,000 businesses, including 59% of the Fortune 500.
- It's guiding to Q2 revenues of $94M-$95M (in line) and non-GAAP EPS of $-0.20 to -$0.19 vs. an expected -$0.22. For the full year, it forecasts revenue of $391M-$395M (in line) and EPS of -$0.78 to -$0.75 vs. an expected -$0.84.
- Conference call to come at 5 p.m. ET.
Wed, Jun. 1, 4:08 PM
- Box (NYSE:BOX): FQ1 EPS of -$0.18 beats by $0.06.
- Revenue of $90.16M (+37.4% Y/Y) beats by $1.51M.
- Shares -10%.