BOX (Box, Inc.) Stock Financials & Earnings

BOXBox, Inc.

Mkt Cap$4B

Technology·Software - Infrastructure·🇺🇸 United States·NYSE

Revenue (TTM)$1.2B

Net Income (TTM)$101M

EPS (TTM)$0.59

Free Cash Flow (TTM)$242M

Gross Margin79.2%

Op. Margin7.1%

Net Margin8.6%

FCF Margin20.5%

P/S Ratio (TTM)3.0x

P/E Ratio (TTM)35.1x

YoY Rev Growth+8.0%

Employees—

Earnings Reports

▶Q4 2026NEW

Box, Inc. provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service pl...

CEO Aaron LevieIPO Jan 23, 2015www.box.com

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 24	$252M	$190M	$8M
Q2 24	$261M	$194M	$10M
Q3 24	$262M	$192M	$11M
Q4 24	$263M	$200M	$21M
Q1 25	$265M	$206M	$18M
Q2 25	$270M	$215M	$20M
Q3 25	$276M	$220M	$23M
Q4 25	$280M	$221M	$18M
Q1 26	$276M	$216M	$6M
Q2 26	$294M	$232M	$21M
Q3 26	$301M	$240M	$25M
Q4 26	$306M	$245M	$31M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 24	3.8x	95.3x
Q2 24	4.4x	90.7x
Q3 24	3.4x	69.8x
Q4 24	3.7x	29.7x
Q1 25	3.7x	28.1x
Q2 25	3.8x	27.1x
Q3 25	4.3x	30.6x
Q4 25	4.4x	19.8x
Q1 26	4.0x	18.9x
Q2 26	4.2x	20.8x
Q3 26	4.1x	20.6x
Q4 26	3.2x	36.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 24	$125M	$123M
Q2 24	$33M	$34M
Q3 24	$72M	$70M
Q4 24	$89M	$90M
Q1 25	$131M	$130M
Q2 25	$36M	$36M
Q3 25	$63M	$62M
Q4 25	$102M	$102M
Q1 26	$127M	$127M
Q2 26	$46M	$44M
Q3 26	$73M	$71M
Q4 26	$0	$0

Capital Expenditures

CapEx

Quarter	CapEx
Q1 24	$2M
Q2 24	$2M
Q3 24	$2M
Q4 24	$947K
Q1 25	$1M
Q2 25	$398K
Q3 25	$271K
Q4 25	$628K
Q1 26	$349K
Q2 26	$2M
Q3 26	$2M
Q4 26	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+5.6%	+2.4%
Q2 24	+6.3%	+3.6%
Q3 24	+4.6%	+5.7%
Q4 24	+2.5%	+2.1%
Q1 25	+5.1%	+1.3%
Q2 25	+3.3%	-0.7%
Q3 25	+5.5%	+0.9%
Q4 25	+6.3%	+8.2%
Q1 26	+4.4%	+9.4%
Q2 26	+8.9%	+9.5%
Q3 26	+9.1%	+9.3%
Q4 26	+9.4%	+5.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 24	$47M	18.8%
Q2 24	$53M	20.4%
Q3 24	$51M	19.5%
Q4 24	$47M	18.0%
Q1 25	$51M	19.3%
Q2 25	$55M	20.4%
Q3 25	$56M	20.1%
Q4 25	$57M	20.4%
Q1 26	$55M	19.9%
Q2 26	$61M	20.7%
Q3 26	$59M	19.7%
Q4 26	$2K	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 24	$63M	$49M	$71M
Q2 24	$63M	$50M	$71M
Q3 24	$61M	$32M	$88M
Q4 24	$62M	$31M	$86M
Q1 25	$63M	$33M	$93M
Q2 25	$65M	$34M	$95M
Q3 25	$68M	$34M	$95M
Q4 25	$69M	$37M	$97M
Q1 26	$72M	$38M	$99M
Q2 26	$72M	$38M	$102M
Q3 26	$74M	$37M	$103M
Q4 26	$77M	$38M	$100M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 24	5.6%	9.4%	15.0
Q2 24	6.3%	8.2%	14.5
Q3 24	4.6%	10.6%	15.2
Q4 24	2.5%	14.4%	16.9
Q1 25	5.1%	10.0%	15.1
Q2 25	3.3%	9.5%	12.8
Q3 25	5.5%	10.6%	16.1
Q4 25	6.3%	12.8%	19.1
Q1 26	4.4%	8.2%	12.6
Q2 26	8.9%	11.6%	20.5
Q3 26	9.1%	13.0%	22.1
Q4 26	9.4%	10.2%	19.6

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 24	$481M	$36M	$517M
Q2 24	$396M	$49M	$445M
Q3 24	$378M	$62M	$440M
Q4 24	$384M	$97M	$481M
Q1 25	$450M	$117M	$566M
Q2 25	$407M	$76M	$482M
Q3 25	$609M	$89M	$698M
Q4 25	$625M	$98M	$723M
Q1 26	$690M	$101M	$790M
Q2 26	$660M	$100M	$760M
Q3 26	$635M	$96M	$731M
Q4 26	$375M	$103M	$478M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 24	150M	-0.1%
Q2 24	150M	-0.3%
Q3 24	148M	-1.6%
Q4 24	146M	-0.9%
Q1 25	149M	+1.7%
Q2 25	147M	-1.5%
Q3 25	149M	+1.7%
Q4 25	150M	+0.9%
Q1 26	150M	-0.6%
Q2 26	151M	+1.0%
Q3 26	150M	-0.7%
Q4 26	146M	-2.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 15	$187K	1K
FY 16	$221K	1K
FY 17	$267K	1K
FY 18	$284K	2K
FY 19	$307K	2K
FY 20	$340K	2K
FY 21	$399K	2K
FY 22	$403K	2K
FY 23	$398K	2K
FY 24	$410K	3K
FY 25	$388K	3K
FY 26	$404K	3K