Free Post Earnings Research Report: Box Achieved Record Quarterly Revenues; Net Loss Narrowed

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LONDON, UK / ACCESSWIRE / June 27, 2018 / If you want access to our free earnings report on Box, Inc. (NYSE: BOX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BOX. The Company reported its first quarter fiscal 2019 operating and financial results on May 30, 2018. The online storage provider reported better than expected revenues and earnings results. Additionally, the Company provided guidance for the upcoming quarter and full fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Box most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the first quarter of the fiscal year 2019, ended April 30, 2018, Box’s revenues were a record $140.5 million, reflecting an increase of 20% compared to $117.2 million in Q1 FY18. The Company’s revenue numbers beat analysts’ estimates of $139.5 million.

For Q1 FY19, Box reported a GAAP operating loss of $35.9 million, or 26% of revenues, compared to a GAAP operating loss of $40.0 million, or 34% of revenues, in Q1 FY18. The Company’s non-GAAP operating loss was $9.2 million, or 7% of revenues, in the reported quarter compared to a non-GAAP operating loss of $16.6 million, or 14% of revenues, in the prior year’s same quarter.

Box’s GAAP net loss was $36.6 million, or $0.26 loss per diluted share, in Q1 FY19 compared to a GAAP net loss of $40.1 million, or $0.30 loss per diluted share, in Q1 FY18. The Company’s non-GAAP net loss was $0.07 per diluted share in the reported quarter versus a non-GAAP net loss per share of $0.13 in the year earlier comparable quarter. Box’s earnings surpassed Wall Street’s estimates for a loss of $0.08 per share.

Operating Results

Box’s deferred revenues were $286.9 million as of April 30, 2018, reflecting an increase of 28% from April 30, 2017. The Company’s billings were $116.7 million in the reported quarter, up 17% compared to the year ago corresponding period.

During Q1 FY19, Box grew its paying customer base to more than 85,000 businesses, including new or expanded deployments with leading organizations such as Blackboard, City of Philadelphia, DARPA, Dignity Health, Hitachi High Technologies, Mitsubishi Motors Corp., and Pokémon.

During Q1 FY19, Box closed 35 deals over $100,000 compared to 26 in Q1 FY18. The Company closed 4 deals over $500,000 versus 2 in the year ago same period; and 1 deal over $1 million in-line with a year ago.

Cash Matters

During Q1 FY19, Box’s net cash provided by operating activities totaled $18.4 million compared to $8.5 million in Q1 FY18. The Company’s free cash flow was $7.3 million in the reported quarter versus $4.0 million in the year earlier comparable quarter.

Outlook

For the second quarter of the fiscal year 2019, Box is forecasting revenues to be in the range of $146 million to $147 million. The Company’s GAAP and non-GAAP diluted earnings per share (EPS) are expected to be in the ranges of negative $0.28 to negative $0.27 and negative $0.06 to negative $0.05, respectively, for the upcoming quarter.

For the full fiscal year 2019, Box is projecting revenues to be in the band of $603 million to $608 million. The Company is estimating GAAP and non-GAAP diluted EPS to be in the ranges of negative $1.07 to negative $1.04 and negative $0.19 to negative $0.16 for FY19.

Stock Performance Snapshot

June 26, 2018 – At Tuesday’s closing bell, Box’s stock advanced 1.57%, ending the trading session at $25.85.

Volume traded for the day: 3.92 million shares.

Stock performance in the last three-month – up 26.28%; previous six-month period – up 25.24%; past twelve-month period – up 35.06%; and year-to-date – up 22.40%

After yesterday’s close, Box’s market cap was at $3.92 billion.

The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.3% at the end of the session.

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