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Oct 31, 2025
Box Q3 2026 Earnings Report
Box reported strong third quarter fiscal year 2026 financial results, with revenue up 9% year-over-year and billings up 12%.
Key Takeaways
Box delivered strong third quarter fiscal year 2026 results, with revenue reaching $301.1 million, an increase of 9% year-over-year. The company's remaining performance obligations grew by 18% to $1.5 billion, and billings increased by 12% to $296.0 million. GAAP diluted EPS was $0.05, while non-GAAP diluted EPS was $0.31. The company also announced a $150 million expansion of its stock repurchase program.
Revenue for Q3 fiscal year 2026 was $301.1 million, marking a 9% increase year-over-year, or 8% on a constant currency basis.
Remaining performance obligations (RPO) reached $1.5 billion, an 18% increase year-over-year, or 19% on a constant currency basis.
Billings for the quarter were $296.0 million, up 12% as reported and on a constant currency basis.
GAAP diluted EPS was $0.05, and non-GAAP diluted EPS was $0.31, with both impacted by unfavorable foreign exchange rates and non-cash deferred tax expenses.
Forward Guidance
For Q4 fiscal year 2026, Box expects revenue of approximately $304 million, up 9% year-over-year, and non-GAAP diluted EPS of approximately $0.33. For the full fiscal year 2026, revenue is projected to be approximately $1.175 billion, up 8% year-over-year, with non-GAAP diluted EPS of approximately $1.28.
Positive Outlook
- Q4 FY26 revenue expected to be approximately $304 million, up 9% year-over-year, or 8% on a constant currency basis, including a positive impact of approximately 100 basis points due to FX.
- Q4 FY26 non-GAAP operating margin expected to be approximately 30%, including a positive impact of 20 basis points due to FX.
- Full Year FY26 revenue expected to be approximately $1.175 billion, up 8% year-over-year, including a positive impact of approximately 70 basis points due to FX.
- Full Year FY26 non-GAAP operating margin expected to be approximately 28%, including a positive impact of approximately 10 basis points due to FX.
- Weighted-average diluted shares outstanding for Q4 FY26 expected to be approximately 147 million, and for Full Year FY26 approximately 149 million.
Challenges Ahead
- Q4 FY26 GAAP net income per share attributable to common stockholders expected to be approximately $0.06, including a negative impact of $0.08 from unfavorable foreign exchange rates and non-cash deferred tax expenses.
Historical Earnings Impact
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