The two announced the availability of two new product integrations with IBM Case Manager and IBM Datacap. After announcing its tie-up with IBM last year, Box has seen additional sales commitments from IBM that are expected to last over a decade. The market was projecting the year’s revenues at $392 million with a net loss of $0.88 per share.ĭuring the quarter, Box continued to expand its relationships with key enterprise vendors. It expects to end the current fiscal year with revenues of $390 million-$394 million with a net loss of $0.85-$0.83 per share. During the current quarter, Box’s sales and marketing spend was a comparatively modest $63.3 million.įor the current quarter, Box forecast revenues of $88 million-$89 million compared versus analyst estimate of $86.9 million. In earlier years, Box’s sales and marketing spend had outpaced its revenue. It also managed to reduce its spending during the quarter. The company expects to be free cash flow positive by the end of the fourth quarter of the current fiscal year. Net loss for the year fell from $11.48 per share a year ago to $1.67 per share.īox finally appears to be focusing on improving its profitability. The results were better than the Street’s forecast of revenues of $81.77 million and a net loss of $0.29 per share.īox ended the year with revenues growing 40% to $302.7 million and billings increasing 50% to $369.1 million.
Its streak of losses continues as it ended the quarter with a loss of $0.26 per share compared with a net loss of $1.65 reported a year ago. Things haven’t looked much better since with the stock continuing to languish at less than listing levels.īox’s fourth quarter revenues increased 36% over the year to $81.8 million with billings growing 59% to a record $130.2 million.
The company’s valuation plunged to less than half after it went public early last year.
The company may have beat the Street’s forecast, but the market is still cautious with its valuation. Last week, cloud-based storage services provider Box (NYSE: BOX) announced its fiscal 2016 revenues.
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