We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Box, Inc. (BOX - Free Report) reported fourth-quarter fiscal 2021 earnings per share of 22 cents, which surpassed the Zacks Consensus Estimate by 29.4%. Further, the figure surged significantly from earnings of 7 cents per share in the year-ago quarter.
Total revenues were $198.9 million, surpassing the consensus mark of $196.5 million. Further, the top line increased 8% year over year and was above the company’s guidance of $196-$197 million.
Solid demand for Box Shield and Box Relay, which bolstered the company’s Suite adoption rate, contributed well to top-line growth.
Further, Box witnessed several wins and expansions with companies like Arena Pharmaceuticals, Asahi Group Holdings, Pan-American Life Insurance Group and Twilio in the reported quarter. This remained a major positive.
Additionally, increasing average customer contract durations benefited the results.
The company’s rich technology partner ecosystem and high volume of large enterprise deals will likely continue to be strong driving forces in the near term.
Billings and Deferred Revenues
Billings were $310.1 million in the reported quarter, which increased 10%year over year.
Deferred revenues were $465.6 million, improving 10% from the prior-year quarter.
Non-GAAP gross profit for the fiscal fourth quarter was 145.6 million, up 10.9% year over year. As a percentage of revenues, the figure expanded 200 basis points (bps).
Box’s operating expenses (general & administrative, sales & marketing, and research & development) of $143.6 million decreased 7.6% year over year. As a percentage of revenues, the figure contracted to 72.2% from 84.7% in the year-ago quarter.
On a non-GAAP basis, the company recorded operating margin of 18%, which expanded significantly from 7% in the prior-year quarter.
Balance Sheet and Cash Flow
As of Jan 31, 2021, cash and cash equivalents were 595.1 million compared to $275.4 million as of Oct 31, 2020.
Further, accounts receivables amounted to $228.3 million at the end of the fiscal fourth quarter compared with $115.7 million at the end of the fiscal third quarter.
Net cash provided by operations in the reported quarter was $57.5 million, up from $45.1 million in the previous quarter. Further, the company generated free cash flow of $41 million in the fiscal fourth quarter.
Guidance
For the first quarter of fiscal 2022, Box expects revenues between $200 million and $201 million. The Zacks Consensus Estimate for the same is pegged at $197.09 million.
On a non-GAAP basis, the company projects earnings per share of 16-17 cents. The Zacks Consensus Estimate for the same is pegged at 16 cents per share.
For fiscal 2022, Box’s revenues are expected to be $840-$848 million. The Zacks Consensus Estimate for the same is pegged at $836.51 million.
On a non-GAAP basis, the company projects earnings per share of 76-81 cents. The consensus mark for the same is pegged at 72 cents.
Long-term earnings growth rates for CrowdStrike, Workday and Analog Devices are currently pegged at 25%, 25.36% and 12.25%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Box (BOX) Q4 Earnings & Revenues Beat Estimates, Rise Y/Y
Box, Inc. (BOX - Free Report) reported fourth-quarter fiscal 2021 earnings per share of 22 cents, which surpassed the Zacks Consensus Estimate by 29.4%. Further, the figure surged significantly from earnings of 7 cents per share in the year-ago quarter.
Total revenues were $198.9 million, surpassing the consensus mark of $196.5 million. Further, the top line increased 8% year over year and was above the company’s guidance of $196-$197 million.
Solid demand for Box Shield and Box Relay, which bolstered the company’s Suite adoption rate, contributed well to top-line growth.
Further, Box witnessed several wins and expansions with companies like Arena Pharmaceuticals, Asahi Group Holdings, Pan-American Life Insurance Group and Twilio in the reported quarter. This remained a major positive.
Additionally, increasing average customer contract durations benefited the results.
The company’s rich technology partner ecosystem and high volume of large enterprise deals will likely continue to be strong driving forces in the near term.
Billings and Deferred Revenues
Billings were $310.1 million in the reported quarter, which increased 10%year over year.
Deferred revenues were $465.6 million, improving 10% from the prior-year quarter.
Box, Inc. Price, Consensus and EPS Surprise
Box, Inc. price-consensus-eps-surprise-chart | Box, Inc. Quote
Operating Results
Non-GAAP gross profit for the fiscal fourth quarter was 145.6 million, up 10.9% year over year. As a percentage of revenues, the figure expanded 200 basis points (bps).
Box’s operating expenses (general & administrative, sales & marketing, and research & development) of $143.6 million decreased 7.6% year over year. As a percentage of revenues, the figure contracted to 72.2% from 84.7% in the year-ago quarter.
On a non-GAAP basis, the company recorded operating margin of 18%, which expanded significantly from 7% in the prior-year quarter.
Balance Sheet and Cash Flow
As of Jan 31, 2021, cash and cash equivalents were 595.1 million compared to $275.4 million as of Oct 31, 2020.
Further, accounts receivables amounted to $228.3 million at the end of the fiscal fourth quarter compared with $115.7 million at the end of the fiscal third quarter.
Net cash provided by operations in the reported quarter was $57.5 million, up from $45.1 million in the previous quarter. Further, the company generated free cash flow of $41 million in the fiscal fourth quarter.
Guidance
For the first quarter of fiscal 2022, Box expects revenues between $200 million and $201 million. The Zacks Consensus Estimate for the same is pegged at $197.09 million.
On a non-GAAP basis, the company projects earnings per share of 16-17 cents. The Zacks Consensus Estimate for the same is pegged at 16 cents per share.
For fiscal 2022, Box’s revenues are expected to be $840-$848 million. The Zacks Consensus Estimate for the same is pegged at $836.51 million.
On a non-GAAP basis, the company projects earnings per share of 76-81 cents. The consensus mark for the same is pegged at 72 cents.
Zacks Rank & Stocks to Consider
Box currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector are CrowdStrike Holdings Inc. (CRWD - Free Report) , Workday, Inc. (WDAY - Free Report) and Analog Devices, Inc. (ADI - Free Report) , each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rates for CrowdStrike, Workday and Analog Devices are currently pegged at 25%, 25.36% and 12.25%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>