Box (BOX) Reports In-Line Q3 EPS, Revs Beat

Box (NYSE: BOX) reported Q3 EPS of ($0.01), in-line with the analyst estimate of ($0.01). Revenue for the quarter came in at $177.2 million versus the consensus estimate of $174.63 million.

"With these solid results and our delivery of key product and go-to-market initiatives, we are in a strong position to continue to improve our balance between growth and profitability,” said Aaron Levie, co-founder and CEO of Box. “In Q3, we launched Box Shield, major new Relay enhancements, and deeper integrations with IBM, Microsoft Teams, and Slack. These new products and capabilities will enable our customers to expand their use of Box for frictionless security and compliance, seamless internal and external collaboration and workflows, and a more productive workplace by leveraging a best-of-breed IT stack. And with Box Suites, we are making it easier than ever for customers to adopt the full power of Box.”

“We continue to build the foundation to drive more profitable growth,” said Dylan Smith, co-founder and CFO of Box. “In Q3, we delivered operational efficiencies on our path to achieving our first full year of non-GAAP profitability in FY20, and we are committed to delivering significant improvements in operating margin in FY21 and beyond.

GUIDANCE:

Box sees Q4 2020 EPS of $0.04-$0.05, versus the consensus of $0.04. Box sees Q4 2020 revenue of $181-182 million, versus the consensus of $180.76 million.

Box sees FY2020 EPS of $0.01, versus the consensus of $0.01. Box sees FY2020 revenue of $693.7-694.7 million, versus the consensus of $690.9 million.

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

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