$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%
