Fri, Aug 30, 8:07 PM (137 days ago)
For the quarter ended July 31, 2024, Box, Inc. reported revenue of $270.0 million, a 3% increase year-over-year, with a gross profit of $214.5 million and gross margin rising to 79.4%. Operating income improved to $20.3 million, reflecting a 7.5% operating margin. Net income reached $20.5 million, up from $10.8 million in the prior year, with earnings per share of $0.10. Cash flow from operations was $36.3 million, an 11% increase, while non-GAAP free cash flow surged 59% to $32.7 million. The company’s remaining performance obligations totaled $1.272 billion, a 12% increase, indicating strong future revenue potential despite macroeconomic pressures affecting customer spending and churn rates. Box continues to invest in product innovations, including cloud services and AI capabilities. However, uncertainties remain regarding global economic conditions, competitive pressures, and regulatory changes, which may impact future growth and profitability. The company is also actively managing risks associated with cybersecurity and compliance with evolving data protection laws.