The earnings call highlighted strong financial performance, successful product launches, and strategic partnerships, driving optimism for future growth. However, challenges with FX impacts and a flat net retention rate indicate areas needing attention.

Company Guidance

During the Box Third Quarter Fiscal 2025 Earnings Conference Call, the company provided comprehensive guidance for the fourth quarter and the full fiscal year. The guidance included expectations for Q4 revenue of approximately $279 million, representing a 6% year-over-year growth, with a noted 90 basis points FX headwind. Q4 non-GAAP operating margin is anticipated to be around 27.5%, reflecting an 80 basis point improvement year-over-year, despite a 100 basis points FX impact. Non-GAAP EPS for Q4 is projected to be approximately $0.41. For the full fiscal year, Box anticipates revenue of about $1.09 billion, a 5% year-over-year increase, and an FX headwind of 190 basis points. The company expects FY '25 billings growth of approximately 4% and a non-GAAP operating margin of about 28%, a 330 basis point improvement from the prior year. Additionally, non-GAAP EPS is expected to be around $1.70, marking a 16% increase year-over-year, considering a $0.13 FX headwind and a $0.05 impact from deferred tax expenses. The call also highlighted significant investments in their Intelligent Content Management platform and strategic partnerships, all contributing to their optimistic growth outlook.

Strong Revenue and Margin Growth

Q3 revenue grew 5% year-over-year, or 6% in constant currency, with a record gross margin of 82% and operating margin of 29%, up 440 basis points from a year ago.

Successful Launch of Box AI and Enterprise Plus

Box AI and Enterprise Plus drove strong customer demand with significant expansion within major clients, contributing to the overall positive financial performance.

Record Operating Income and EPS

Record operating income of $80 million, up 24% year-over-year, and record EPS of $0.45, above guidance expectations.

New Product Launches and Strategic Partnerships

Unveiled the most transformational product lineup in Box history, launched Enterprise Advanced, and announced partnerships with Anthropic, OpenAI, Google, and AWS.

Expansion of Suites Attach Rate

Q3 Suites attach rate in large deals was 83%, up from 79% last year, with Suites customers representing 59% of revenue, up from 51%.

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Box (BOX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BOX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2025	2025 (Q4)	0.41 / -	0.42	―	―	―
Dec 03, 2024	2025 (Q3)	0.42 / 0.45	0.36	25.00% (+0.09)
Aug 27, 2024	2025 (Q2)	0.40 / 0.44	0.36	22.22% (+0.08)
May 28, 2024	2025 (Q1)	0.38 / 0.39	0.32	21.88% (+0.07)
Mar 05, 2024	2024 (Q4)	0.39 / 0.42	0.37	13.51% (+0.05)
Dec 05, 2023	2024 (Q3)	0.38 / 0.36	0.31	16.13% (+0.05)
Aug 29, 2023	2024 (Q2)	0.35 / 0.36	0.28	28.57% (+0.08)
May 30, 2023	2024 (Q1)	0.27 / 0.32	0.23	39.13% (+0.09)
Mar 01, 2023	2023 (Q4)	0.34 / 0.37	0.24	54.17% (+0.13)
Nov 30, 2022	2023 (Q3)	0.30 / 0.31	0.22	40.91% (+0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BOX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 03, 2024	$34.42	$31.77	-7.70%
Aug 27, 2024	$28.82	$31.94	+10.83%
May 28, 2024	$25.04	$27.20	+8.63%
Mar 05, 2024	$27.25	$29.60	+8.62%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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