Published on 29 May 2024 on Zacks via Yahoo Finance

BOX Q1 Earnings & Revenues Surpass Estimates, Increase Y/Y

Box, Inc. BOX reported first-quarter fiscal 2025 non-GAAP earnings per share of 39 cents, which beat the Zacks Consensus Estimate by 8.3%. The figure jumped 21.9% year over year.Total revenues of $264.66 million surpassed the consensus mark by 1.15%. The top line increased 5% year over year (8% growth on a constant-currency basis).Solid momentum in the Content Cloud platform and the growing adoption of Enterprise Plus Suites drove top-line growth. The growing momentum of Box AI was also positive.

Q4 in Detail

Billings were $190.5 million for the reported quarter, decreasing 1% year over year (5% growth on a constant-currency basis).Deferred revenues were $514 million in the fiscal first quarter, increasing 1% from the prior-year quarter (5% growth on a constant-currency basis).BOX saw an 85% attach rate for its Suites, significantly up from 69% in the year-ago quarter.  Box’s net retention rate was 101% at the end of the fiscal first quarter, down 500 bps year over year due to macroeconomic challenges.The remaining performance obligations as of Apr 30, 2024, were $1.212 billion, up 3% on a year-over-year basis (8% growth on a constant-currency basis).