Box(BOX)2024-08-27 20:05Revenue and Growth - Revenue for Q2 FY25 was $270 million, a 3% increase year-over-year, or 6% growth on a constant currency basis[3]. - Q3 FY25 revenue guidance is expected to be between $274 million and $276 million, representing a 5% year-over-year increase[9]. - Full year FY25 revenue is expected to be in the range of $1.086 billion to $1.09 billion, up 5% year-over-year[11]. - Revenue for the three months ended July 2024 was $270,039,000, an increase of 3% compared to $261,428,000 for the same period in 2023[31]. - GAAP revenue for the three months ended July 31, 2024, was $270,039,000, compared to $261,428,000 for the same period in 2023, representing a growth of 2.3%[39]. Profitability Metrics - GAAP operating margin for Q2 FY25 was 7.5%, compared to 3.8% in Q2 FY24[3]. - Non-GAAP operating income for Q2 FY25 was a record $76.7 million, or 28.4% of revenue, up from 24.8% in Q2 FY24[3]. - Non-GAAP diluted net income per share for Q2 FY25 was $0.44, compared to $0.36 in Q2 FY24[3]. - GAAP net income attributable to common stockholders for the three months ended July 31, 2024, was $14,341,000, compared to $5,744,000 in the same period last year, marking a significant increase of 149.5%[36]. - Non-GAAP net income per share attributable to common stockholders for the three months ended July 31, 2024, was $0.44, compared to $0.36 in the prior year, indicating a growth of 22.2%[42]. Cash Flow and Financial Position - Box's cash and cash equivalents increased from $383,742,000 to $406,620,000, an increase of approximately 5.4%[29]. - Cash provided by operating activities for the six months ended July 2024 was $167,502,000, compared to $157,606,000 for the same period in 2023, indicating a growth of 6%[34]. - GAAP net cash provided by operating activities for the three months ended July 31, 2024, was $36,298,000, compared to $32,676,000 in the prior year, indicating an increase of 20.2%[37]. - The company reported a net cash used in financing activities of $121,407,000 for the three months ended July 2024, compared to $99,136,000 in the same period in 2023[34]. - The cash, cash equivalents, and restricted cash at the end of the period were $407,716,000, compared to $396,694,000 at the end of the previous year[34]. Performance Obligations and Billings - Remaining performance obligations (RPO) as of July 31, 2024, were $1.272 billion, a 12% increase from $1.138 billion a year ago[3]. - Billings for Q2 FY25 were $256.4 million, a 10% increase from $232.5 million in Q2 FY24[3]. - Billings for the three months ended July 31, 2024, were $256,435,000, compared to $232,501,000 in the same period last year, representing a growth of 10.3%[39]. - Remaining performance obligations (RPO) represent contracted revenue not yet recognized, indicating future revenue potential[26]. - Deferred revenue at the end of the period was $502,104,000, up from $479,293,000 at the end of the same period last year, reflecting a growth of 4.8%[39]. Expenses and Liabilities - Operating expenses for the three months ended July 2024 totaled $194,246,000, an increase of 5% from $184,540,000 in the same period last year[31]. - Research and development expenses for the three months ended July 2024 were $65,445,000, an increase from $63,316,000 in the same period last year[31]. - The company's deferred revenue decreased from $562,859,000 to $483,987,000, a reduction of about 14.0%[29]. - Box's total liabilities decreased from $1,180,130,000 to $1,066,992,000, reflecting a decrease of approximately 9.6%[29]. - Total stock-based compensation for the three months ended July 2024 was $55,111,000, slightly up from $53,346,000 in the same period last year[32]. Strategic Initiatives - The company announced a new $100 million expansion of its stock repurchase program[1]. - The acquisition of Alphamoon enhances Box's Intelligent Content Management platform capabilities[6].