Box beats Q1 FY24 estimates; revenue $252M, non-GAAP EPS $0.32, FCF up 19%

BOX INC

2024-Q1 EPS reported $0.02 revenue$251,898,000

Revenue $251.9M (+6% YoY, +10% constant currency); GAAP EPS $0.02, non-GAAP EPS $0.32 (vs $0.23 YoY).
GAAP operating margin 3.3%, non-GAAP operating margin 22.8%, both up YoY.
Cash from ops $124.9M (+16%); free cash flow $108.2M (+19% YoY).
RPO $1.179B (+17% YoY, +19% constant currency); billings $191.9M (+11% YoY, +15% cc).
Management reiterated FY24 target: revenue growth plus FCF margin of 35%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BOX INC reported first quarter of fiscal year 2024 results: revenue $251.9 million, EPS $0.02. Guidance reaffirmed.

Period: first quarter of fiscal year 2024
Revenue: $251.9 million
EPS: $0.02
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Revenue for the first quarter of fiscal year 2024 was $251.9 million, a 6% increase from revenue for the first quarter of fiscal year 2023 of $238.4 million, or 10% growth on a constant currency basis. • Remaining performance obligations (“RPO”) as of April 30, 2023, were $1.179 billion, a 17% increase from remaining performance obligations as of April 30, 2022 of $1.005 billion, or 19% growth on a constant currency basis. • Billings for the first quarter of fiscal year 2024 were $191.9 million, an 11% increase from billings for the first quarter of fiscal year 2023 of $172.2 million, or 15% growth on a constant currency basis. • GAAP gross profit for the first quarter of fiscal year 2024 was $190.2 million, or 75.5% of revenue. This compares to a GAAP gross profit of $176.2 million, or 73.9% of revenue, in the first quarter of fiscal year 2023. • Non-GAAP gross profit for the first quarter of fiscal year 2024 was $196.2 million, or 77.9% of revenue. This represents 8% growth from non-

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Source: SEC EDGAR

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