Box hits $62.6M in revenue in first quarterly earnings report

Cloud file sharing company Box delivered solid financial results in its first earnings release as a public company today, announcing that it brought in $62.6 million in revenue in the fourth quarter of its 2015 fiscal year, which ended on January 31. The revenue figure beats the average estimate from analysts of $57.99 million for the quarter.

The company registered a $1.65 per share non-GAAP net loss, according to a statement — missing analysts’ expectations of $1.17 per share net loss.

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(Box PR later reached out to VentureBeat to note that that analyst consensus — reported on VentureBeat and on other sites — was incorrect. “The consensus estimates for EPS shared by Thomson Reuters (-$1.17 per share) were incorrect because they included three analysts that calculated EPS estimates with the wrong share count given that we closed the IPO on 1/28/15 (four days prior to the close of the quarter),” a spokeswoman wrote to VentureBeat in an email. “The correct consensus estimate for EPS was -$1.99, as reported by FactSet. Today, we reported a $1.65 net loss per share based on 20 million shares outstanding in Q4, which beat the actual consensus by more than 30 cents per share.”)

Box stock was down more than 10 percent in after-hours trading, hovering below the $20.20 price the stock debuted at on the NYSE.

On a GAAP basis, Box had a $46 million loss for the fourth quarter of the fiscal year, according to today’s earnings statement. And in the fiscal year as a whole, Box lost $168.2 million on $216.4 million in revenue.

Revenue for the fiscal year increased by 74 percent year over year, up from $124.1 million.

The company’s quarterly revenue growth on a year-to-year basis continues to slip. This quarter, it came in 61.32 percent.

The number of paying organizations is up. Box now claims it has more than 45,000. In December, Box claimed more than 44,000 paying customers.

Box, established in 2005, debuted on the New York Stock Exchange just two months ago, after raising $175 million in its initial public offering.

Box competes with Dropbox, Google, and Microsoft, among others.

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Company news in the quarter included open-sourcing the ClusterRunner code-testing tool.