Box (BOX) Tops Q3 EPS by 6c; Guides

Box (NYSE: BOX) reported Q3 EPS of $0.20, $0.06 better than the analyst estimate of $0.14. Revenue for the quarter came in at $196 million versus the consensus estimate of $194.27 million.

“Our cloud content management product suite continues to gain momentum as more enterprises prioritize digital transformation and building around best-of-breed applications," said Aaron Levie, co-founder and CEO of Box. "In the quarter, we closed strategic deals with leading organizations, including USAA, Murata Manufacturing and the U.S. Air Force, and growing demand for products like Shield and Relay continue to accelerate adoption of our bundled Suite offerings."

“Our third quarter results demonstrate our ability to deliver strong profitable growth,” said Dylan Smith, co-founder and CFO of Box. “Our focus on driving more efficient growth allowed us to significantly improve operating margins and cash flow in Q3. We now expect our non-GAAP operating margin for the full year to be at least 14 percent of revenue, a 1,300 basis point improvement from one percent a year ago.”

GUIDANCE:

Box sees Q4 2021 EPS of $0.16-$0.18, versus the consensus of $0.15. Box sees Q4 2021 revenue of $196-197 million, versus the consensus of $198.75 million.

Box sees FY2021 EPS of $0.64-$0.66, versus the consensus of $0.58. Box sees FY2021 revenue of $768-769 million, versus the consensus of $768.99 million.

For earnings history and earnings-related data on Box (BOX) click here.

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