Box -10.6% on Q4 report with in-line revenue, downside revenue guidance

Feb. 28, 2018 5:00 PM ETBox, Inc. (BOX)By: Brandy Betz, SA News Editor17 Comments
  • Box (NYSE:BOXplunges 10.6% aftermarket following Q4 results that met revenue estimates with a 24.3% Y/Y increase and beat on EPS, narrowing the net loss by four cents on the year to $0.24. 
  • Box changed from ASC 605 to ASC 606 and that's reflected in the guidance. 
  • Q1 guidance: Revenue expected from $139M to $140M (consensus: $144.30M). Under old 605 standard, revenue was expected from $142M to $143M, which makes either scenario a downside. In-line EPS expected from -$0.09 to -$0.048 in ASC 606 and 605 (consensus: -$0.08). 
  • FY18 guidance: Downside revenue expected from $602M to $608M in 606 (consensus: $625.67) and $613M to $619M in 605.  In-line EPS from -$0.20 to -$0.16 in 606 (consensus: -$0.20) and downside EPS from -$0.28 to -$0.24 in 605. 
  • Key metrics: Billings, $204.6M (+28% Y/Y); Deferred revenue, $320.9M (+33%); cash flow from operations, $48.7M (+$34M); operating expenses, $133.9M; FCF, $13.3M (+$3.2M); cash and equivalents, $208.1M. 
  • Earnings call is scheduled for 5 PM ET with a webcast available here
  • Press release         
  • Previously: Box beats by $0.02, revenue in-line (Feb. 28)

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