NYSE$BOX

Box Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Box reported strong results, achieving revenue growth and exceeding guidance for growth and profitability.

Box, Inc. announced strong financial results for the fourth quarter and fiscal year 2022. The company achieved revenue of $233.4 million, a 17% increase year-over-year. Box also delivered a combined revenue growth plus free cash flow margin outcome of 33% in fiscal 2022.

  • Revenue for the fourth quarter of fiscal year 2022 was $233.4 million, a 17% increase from revenue for the fourth quarter of fiscal year 2021 of $198.9 million.
  • Remaining performance obligations as of January 31, 2022, were $1.1 billion, a 19% increase from remaining performance obligations as of January 31, 2021 of $896.9 million.
  • Billings for the fourth quarter of fiscal year 2022 were $337.9 million, a 9% increase from billings for the fourth quarter of fiscal year 2021 of $310.1 million.
  • Non-GAAP operating income in the fourth quarter of fiscal year 2022 was $48.5 million, or 21% of revenue.

Headline financials

Total Revenue

$233M

Previous: $199M+17.3%
EPS (adj)

$0.24

Previous: $0.22+9.1%
Billings

$338M

Previous: $310M+9.0%
Free Cash Flow

$33.3M

Previous: $41M-18.8%
Net Income

-$4.33M

Previous: -$4.94M+12.5%
Operating Income

-$166K

Previous: -$3.28M+94.9%
Gross Profit

$169M

Previous: $140M+20.2%
Cash & Equivalents

$416M

Previous: $595M-30.0%
Total Assets

$1.39B

Previous: $1.35B+3.0%
Stock-Based Comp

$47.5M

Previous: $38.9M+22.2%

Revenue & EPS history

Box · Revenue · Quarterly

$233M

Q4 2022+17.3%vs Q4 2021
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

Box provides guidance for Q1 FY23 and full year FY23.

Tailwinds

  • Revenue is expected to be in the range of $233 million to $235 million, up 16% year-over-year at the high-end of the range.
  • GAAP operating margin is expected to be approximately 1%, and non-GAAP operating margin is expected to be approximately 21%.
  • GAAP basic and diluted net loss per share attributable to common stockholders are expected to be in the range of $0.05 to $0.04.
  • Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.24 to $0.25.
  • Weighted-average basic and diluted shares outstanding are expected to be approximately 146 million and 152 million, respectively.

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 Q4 2022

Historical avgQ4 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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