BOX INC (BOX) saw its loss widen to $40.09 million, or $0.30 a share for the quarter ended Apr. 30, 2017. In the previous year period, the company reported a loss of $38.58 million, or $0.31 a share. On the other hand, adjusted net loss for the quarter narrowed to $16.74 million, or $0.13 a share from a loss of $22.69 million or $0.18 a share, a year ago. Revenue during the quarter surged 30.02 percent to $117.22 million from $90.16 million in the previous year period. Gross margin for the quarter expanded 299 basis points over the previous year period to 72.08 percent. Operating margin for the quarter stood at negative 34.11 percent as compared to a negative 42.81 percent for the previous year period.
Operating loss for the quarter was $39.98 million, compared with an operating loss of $38.59 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $16.63 million compared to operating loss of $22.71 million in prior year period.
"Companies around the world are in the midst of digital transformation. The winners will be organizations that use technology to power new ways to connect and collaborate around their information," said Aaron Levie, co-founder and chief executive officer of Box. "Box's cloud content management platform is a powerful change agent for our 74,000 paying customers worldwide. Our strong fiscal first quarter results are a solid foundation for the year as we focus on innovation and our global go-to-market objectives to seize our massive market opportunity."
For the second-quarter 2017, BOX INC forecasts revenue to be in the range of $121 million to $122 million. The company expects diluted loss per share to be in the range of $0.32 to $0.31. On an adjusted basis, the company expects diluted loss per share to be in the range of $0.13 to $0.12 for the second-quarter.
For fiscal year 2017, BOX INC forecasts revenue to be in the range of $502 million to $506 million. The company expects diluted loss per share to be in the range of $1.25 to $1.21. The company expects diluted loss per share to be in the range of $0.48 to $0.44 on adjusted basis.
Operating cash flow turns positive
BOX INC has generated cash of $8.54 million from operating activities during the quarter as against cash outgo of $4.23 million in the last year period. The company has spent $0.76 million cash to meet investing activities during the quarter as against cash outgo of $4.39 million in the last year period. It has incurred net capital expenditure of $0.76 million on net basis during the quarter, down 93.10 percent or $10.22 million from year ago period.
The company has spent $1.51 million cash to carry out financing activities during the quarter as against cash inflow of $5.45 million in the last year period.
Cash and cash equivalents stood at $183.69 million as on Apr. 30, 2017, up 0.55 percent or $1 million from $182.69 million on Apr. 30, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
