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Oct 31, 2022
Box Q3 2023 Earnings Report
Reported strong financial results, achieving its first $1 billion revenue run rate quarter and record operating profitability.
Key Takeaways
Box, Inc. announced strong third quarter results with revenue growth of 12% year-over-year and record operating margins. The company delivered its first $1 billion revenue run rate quarter and achieved record operating profitability on both GAAP and Non-GAAP bases.
Revenue for the third quarter of fiscal year 2023 was $250.0 million, a 12% increase from revenue for the third quarter of fiscal year 2022.
Remaining performance obligations as of October 31, 2022, were $1.056 billion, an 11% increase.
GAAP operating income in the third quarter of fiscal year 2023 was $13.4 million, or 5.3% of revenue.
Non-GAAP operating income in the third quarter of fiscal year 2023 was $60.0 million, or 24.0% of revenue.
Box
Box
Forward Guidance
The following guidance includes the impact of any expected FX headwinds, assuming present foreign currency exchange rates.
Positive Outlook
- Revenue is expected to be in the range of $255 million to $257 million, up 10% year-over-year at the high end of the range, or 15% growth on a constant currency basis.
- GAAP operating margin is expected to be approximately 6.5%, and non-GAAP operating margin is expected to be approximately 24.5%.
- GAAP net income per share attributable to common stockholders is expected to be in the range of $0.06 to $0.07. GAAP EPS guidance includes an expected negative impact from FX of $0.05.
- Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.34 to $0.35. Non-GAAP EPS guidance includes an expected negative impact from FX of $0.05.
- Weighted-average basic and diluted shares outstanding are expected to be approximately 144 million and 149 million, respectively.