$BOX (-0.1%) Box reported earnings

Q3 FY2025 results ended on October 31st 2024

- Revenue: $275.9M, +5% YoY

- Net Income: $12.9M vs $10.7M YoY

- Operating Income: $23.4M vs $11.4M YoY

- Free Cash Flow: $57.4M, -2% YoY

CEO Aaron Levie: "We delivered strong Q3 financial results and unveiled the most transformational product line-up in Box history. Now businesses of all sizes will be able to realize the full value of their content and leverage the data inside their files to drive innovation."

Revenue & Growth

- Remaining Performance Obligations: $1.28B, +13% YoY

- Billings: $264.7M, +4% YoY

- Constant Currency Revenue Growth: 6% YoY

Profits & Financials

- GAAP Gross Margin: 79.9% vs 73.5% YoY

- Non-GAAP Gross Margin: 81.9% vs 76.3% YoY

- GAAP Operating Margin: 8.5% vs 4.4% YoY

- Non-GAAP Operating Margin: 29.1% vs 24.7% YoY

Business Highlights

- Raised $460M through convertible notes due 2029

- Introduced Enterprise Advanced suite with Box Forms and Box AI Studio

- Released Box Hubs for content publishing

- Expanded AWS partnership for AI with Amazon Bedrock

- Partnership with Slalom for AI/ML solutions

Future Outlook

- Q4 Revenue: $279M, +6% YoY expected

- Q4 Non-GAAP Operating Margin: ~27.5%

- FY25 Revenue: $1.09B, +5% YoY expected

- FY25 Non-GAAP Operating Margin: 28%