NYSE$BOX
Box Inc · Q2 2025 earnings
Q2 2025 earnings · · Investor relations
Briefing
Reported a strong second quarter with accelerated billings growth and record gross margin, operating margin, and EPS.
Box's Q2 2025 earnings showcased a 3% year-over-year revenue increase to $270 million, with a notable 6% growth in constant currency. The company achieved a GAAP operating margin of 7.5% and a record non-GAAP operating margin of 28.4%. GAAP net income per share was $0.10, and non-GAAP net income per share reached a record $0.44. Additionally, Box expanded its stock repurchase program by $100 million.
- Revenue reached $270 million, a 3% increase year-over-year (6% in constant currency).
- GAAP operating margin was 7.5%, while non-GAAP operating margin hit a record 28.4%.
- GAAP net income per share was $0.10, and non-GAAP net income per share reached a record $0.44.
- Billings increased by 10% year-over-year to $256.4 million.
Headline financials
Revenue & EPS history
Box · Revenue · Quarterly
$270M
Forward guidance
Box provided guidance for Q3 FY25 and full year FY25, including revenue, operating margin, and EPS expectations, taking into account foreign exchange headwinds and deferred tax expenses.
Tailwinds
- Q3 FY25 Revenue is expected to be in the range of $274 million to $276 million, up 5% year-over-year, or 6% growth on a constant currency basis.
- Q3 FY25 GAAP operating margin is expected to be approximately 7.5%, and non-GAAP operating margin is expected to be approximately 28%.
- Q3 FY25 GAAP net income per share attributable to common stockholders is expected to be in the range of $0.07 to $0.08.
- Q3 FY25 Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.41 to $0.42.
- Full Year FY25 Revenue is expected to be in the range of $1.086 billion to $1.09 billion, up 5% year-over-year, or 7% growth on a constant currency basis.
Headwinds
- Q3 FY25 GAAP EPS guidance includes an expected negative impact of $0.02 from unfavorable exchange rates and $0.01 from the recognition of deferred tax expenses in international countries.
- Q3 FY25 Non-GAAP EPS guidance includes an expected negative impact of $0.02 from unfavorable exchange rates and $0.01 from the recognition of deferred tax expenses in international countries.
- Full Year FY25 GAAP EPS guidance includes an expected negative impact of $0.12 from unfavorable exchange rates and $0.05 from the recognition of deferred tax expenses in international countries.
- Full Year FY25 non-GAAP EPS guidance includes an expected negative impact of $0.12 from unfavorable exchange rates and $0.05 from the recognition of deferred tax expenses in international countries.
- FX is expected to be a 170 basis point headwind to full fiscal year 2025 revenue growth.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
+0.1%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-1.6%
Avg return
30 days after
52%
23 / 44 earnings
Positive
+17.1%
Q1 2026
Best reaction
-23.2%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +10.0% | +6.4% | +0.4% | |
| Q3 2026 | +6.6% | +3.6% | -4.4% | |
| Q2 2026 | +4.4% | +4.7% | +3.9% | |
| Q1 2026 | +17.1% | +21.2% | +8.1% | |
| Q4 2025 | -3.2% | -3.9% | -10.9% | |
| Q2 2025 | +11.4% | -0.2% | -0.6% | |
| Q1 2025 | +7.6% | +2.8% | -2.8% | |
| Q4 2024 | +6.2% | +6.3% | -0.9% | |
| Q3 2024 | -9.5% | -9.5% | -8.0% | |
| Q2 2024 | -11.5% | -12.9% | -20.2% | |
| Q1 2024 | +1.6% | +4.7% | +5.9% | |
| Q4 2023 | -12.3% | -14.9% | -19.7% | |
| Q3 2023 | +7.3% | +3.4% | +14.3% | |
| Q2 2023 | -3.8% | -9.6% | -16.8% | |
| Q1 2023 | +8.1% | +5.4% | +5.0% | |
| Q4 2022 | +4.9% | +4.6% | +13.8% | |
| Q3 2022 | +6.8% | +6.7% | +10.8% | |
| Q2 2022 | -2.8% | -1.0% | -2.4% | |
| Q1 2022 | +0.6% | +3.5% | +8.8% | |
| Q4 2021 | -1.6% | -2.2% | +26.4% | |
| Q3 2021 | -9.5% | -9.4% | -3.4% | |
| Q2 2021 | +12.3% | +8.9% | -3.4% | |
| Q1 2021 | -0.2% | -0.8% | +10.0% | |
| Q4 2020 | +1.6% | +12.3% | -10.8% | |
| Q3 2020 | +13.1% | +10.7% | +4.7% | |
| Q2 2020 | +3.3% | +6.9% | +16.7% | |
| Q1 2020 | -7.1% | -5.8% | -4.9% | |
| Q4 2019 | -16.8% | -19.8% | -20.6% | |
| Q3 2019 | +4.1% | +10.3% | -2.9% | |
| Q2 2019 | -8.8% | -5.5% | -9.3% | |
| Q1 2019 | -5.8% | -4.2% | -8.3% | |
| Q4 2018 | -23.2% | -21.7% | -14.4% | |
| Q3 2018 | -7.7% | -13.3% | -7.3% | |
| Q2 2018 | +1.8% | -1.1% | +0.2% | |
| Q1 2018 | +10.3% | +3.1% | -1.8% | |
| Q4 2017 | -4.7% | -5.2% | -7.4% | |
| Q3 2017 | -1.5% | -3.7% | -9.4% | |
| Q2 2017 | +5.0% | +6.2% | +18.3% | |
| Q1 2017 | -9.7% | -6.7% | -17.8% | |
| Q4 2016 | +5.5% | — | — | |
| Q3 2016 | -3.6% | — | — | |
| Q2 2016 | -0.3% | — | — | |
| Q1 2016 | +8.1% | — | — | |
| Q4 2015 | -7.3% | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — |
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