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Box
🇺🇸 NYSE:BOX
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Jan 31, 2020

Box Q4 2020 Earnings Report

Box's Q4 performance saw revenue increase by 12% year-over-year, with significant contributions from add-on products and improved profitability.

Key Takeaways

Box, Inc. reported strong Q4 results, with revenue reaching $183.6 million, a 12% increase year-over-year. Billings were up 19% year-over-year, and the company achieved its first full year of non-GAAP profitability. The company also provided guidance for Q1 FY21 and full-year FY21.

Revenue for the fourth quarter of fiscal year 2020 was $183.6 million, an increase of 12% from the fourth quarter of fiscal year 2019.

Billings for the fourth quarter of fiscal year 2020 were $281.9 million, an increase of 19% from the fourth quarter of fiscal year 2019.

Non-GAAP operating income in the fourth quarter of fiscal year 2020 was $12.3 million, or 7% of revenue.

Non-GAAP net income per share, diluted, in the fourth quarter of fiscal year 2020 was $0.07.

Total Revenue
$184M
Previous year: $164M
+12.1%
EPS
$0.07
Previous year: $0.06
+16.7%
Total Revenue Growth
12%
Free Cash Flow
-$34K

Box

Box

Forward Guidance

For Q1 FY21, Box expects revenue in the range of $183.0 million to $184.0 million, GAAP basic and diluted net loss per share in the range of $0.25 to $0.23, and non-GAAP diluted net income per share in the range of $0.04 to $0.06. For the full year FY21, Box expects revenue in the range of $771.0 million to $777.0 million, GAAP basic and diluted net loss per share in the range of $0.78 to $0.71, and non-GAAP diluted net income per share in the range of $0.38 to $0.44.

Positive Outlook

  • Revenue is expected to be in the range of $183.0 million to $184.0 million for Q1 FY21.
  • Non-GAAP diluted net income per share is expected to be in the range of $0.04 to $0.06 for Q1 FY21.
  • Revenue is expected to be in the range of $771.0 million to $777.0 million for full Year FY21.
  • Non-GAAP diluted net income per share is expected to be in the range of $0.38 to $0.44 for full Year FY21.
  • Weighted-average basic and diluted shares outstanding are expected to be approximately 154 million and 160 million, respectively, for full Year FY21.

Challenges Ahead

  • GAAP basic and diluted net loss per share are expected to be in the range of $0.25 to $0.23 for Q1 FY21.
  • GAAP basic and diluted net loss per share are expected to be in the range of $0.78 to $0.71 for full Year FY21.
  • All forward-looking non-GAAP financial measures exclude estimates for stock-based compensation expense.
  • All forward-looking non-GAAP financial measures exclude estimates for intangible assets amortization.
  • All forward-looking non-GAAP financial measures exclude estimates for other special items.

Company Overview

Full financial data and analysis

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