Box Provides Long-Term Financial Model at FY23 Financial Analyst Day|||

Anticipates Combined Revenue Growth Rate Plus Free Cash Menstruation Margin will be 43-44% for FY25

Announces New Share Repurchase Say-so of up to $150 Million

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Box, Inc. (NYSE:BOX), the leading Content Cloud provider, today hosted its virtual fiscal year 2023 Financial Analyst Day during which it provided its long-term financial model for the fiscal yr catastrophe Jan 31, 2025, and appear a new share repurchase authorization of up to $150 million.

“The profitable growth we delivered in FY22 demonstrates the strength of our underlying business model. Going frontward, nosotros expect to keep improving both our revenue growth rate and complimentary greenbacks menstruum margin, and conceptualize generating a combined outcome of 43-44% in FY25,” said Dylan Smith, co-founder and CFO of Box. “We have built the operational engine to deliver long-term assisting growth and, with our disciplined capital allotment strategy, nosotros are well positioned to create meaning shareholder value for years to come up. The hereafter of work is here, and we accept never been more excited about the opportunity alee.”

Long-Term Financial Model

Box provided financial targets for its financial yr catastrophe January 31, 2025:

  • Combined acquirement growth plus complimentary cash flow margin is expected to be 43%-44%.
  • Acquirement growth is expected to be in the range of xv%-17% year-over-yr.
  • Not-GAAP gross margin* is expected to be approximately 77%.
  • Not-GAAP operating margin* is expected to be in the range of 25%-28%.

New Share Repurchase Authorisation

Box as well appear that its Board of Directors authorized a new share repurchase programme under which Box may repurchase up to $150 one thousand thousand of its outstanding Class A common stock over the next twelve months. The timing and full amount of share repurchases, if whatever, will depend upon marketplace weather and other factors, and may exist made from time to fourth dimension in open market place purchases.

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* A reconciliation of these non-GAAP financial targets to the most directly comparable GAAP financial measures is not available on a forrad-looking basis due to the uncertainty regarding, and the potential variability of, the amounts of stock-based compensation expense, amortization of intangible avails, and non-recurring expenses that may exist incurred in the hereafter. Stock-based compensation expense is impacted by Box’due south futurity hiring and retention needs, equally well equally the hereafter fair market value of Box common stock, all of which are hard to predict and subject to constant modify. The bodily amount of stock-based compensation expense in the yr catastrophe January 31, 2025 will accept a meaning affect on Box’s GAAP operating margin and net loss per share attributable to common stockholders. Farther, amortization of intangible assets, as well as other not-recurring expenses, if whatever, will also impact results. Accordingly, a reconciliation of the non-GAAP financial targets to the near directly comparable GAAP financial measures for future periods is not available without unreasonable attempt.

About Box

Box (NYSE:BOX) is the leading Content Cloud that enables organizations to accelerate business processes, power workplace collaboration, and protect their near valuable data, all while working with a best-of-brood enterprise IT stack. Founded in 2005, Box simplifies work for leading organizations globally, including AstraZeneca, JLL, and Morgan Stanley. Box is headquartered in Redwood City, CA, with offices across the Us, Europe, and Asia. To learn more than nigh Box, visit To learn more than almost how Box powers nonprofits to fulfill their missions, visit

Safety Harbor for Forward-Looking Statements

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This press release contains forward-looking statements that involve risks, uncertainties, and assumptions, including Box’due south fiscal targets for the financial twelvemonth ending Jan 31, 2025 relating to combined revenue growth plus free greenbacks flow margin, revenue growth, non-GAAP gross margin, and non-GAAP operating margin. There are a significant number of factors that could crusade actual results to differ materially from these forward-looking statements, including: (1) agin changes in general economical or market conditions, including those caused past the COVID-19 pandemic or the Russian invasion of Ukraine; (two) delays or reductions in information technology spending; (3) factors related to Box’southward highly competitive market, including but not limited to pricing pressures, industry consolidation, entry of new competitors and new applications and marketing initiatives by Box’s current or future competitors; (four) the development of the cloud content management market place; (5) the gamble that Box’due south customers do not renew their subscriptions, expand their use of Box’southward services, or adopt new products offered by Box on a timely basis, or at all; (6) Box’due south ability to provide timely and successful enhancements, integrations, new features and modifications to its platform and services; (7) actual or perceived security vulnerabilities in Box’s services or any breaches of Box’s security controls; (8) Box’s power to realize the expected benefits of its third-political party partnerships; and (9) Box’s ability to successfully integrate acquired businesses and accomplish the expected benefits from those acquisitions. Additional data on potential factors that could affect Box’s financial results is included in the reports on Forms ten-K, 10-Q and 8-K and in other filings Box makes with the Securities and Exchange Commission from time to time, including the Annual Report on Course x-Grand filed for the fiscal twelvemonth ended January 31, 2022. These documents are available on the SEC Filings section of Box’s Investor Relations website located at Box does not assume any obligation to update the forward-looking statements independent in this press release to reflect events that occur or circumstances that exist after the appointment on which they were made.

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