BOX - Box GAAP EPS of $0.02 beats by $0.05 revenue of $251.9M beats by $2.57M

2023-05-30 16:08:50 ET

• Box press release ( NYSE: BOX ): Q1 GAAP EPS of $0.02 beats by $0.05 .
• Revenue of $251.9M (+5.6% Y/Y) beats by $2.57M .

• Q2 FY24 Guidance

• Revenue is expected to be in the range of $260 million to $262 million, up 7% year-over-year at the high-end of the range, or 11% growth on a constant currency basis.

• GAAP operating margin is expected to be approximately 3%, and non-GAAP operating margin is expected to be approximately 24%.

• GAAP net income per share attributable to common stockholders is expected to be in the range of $0.01 to $0.02. GAAP EPS guidance includes an expected negative impact of $0.05 from unfavorable exchange rates.

• Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.34 to $0.35. Non-GAAP EPS guidance includes an expected negative impact of $0.05 from unfavorable exchange rates.

• Full Year FY24 Guidance

• Revenue is expected to be in the range of $1.045 billion to $1.055 billion, up 6% year-over-year at the high-end of the range, or 10% growth on a constant currency basis.
• GAAP operating margin is expected to be approximately 5%, and non-GAAP operating margin is expected to be 25.5%.
• GAAP net income per share attributable to common stockholders is expected to be in the range of $0.17 to $0.23. FY24 GAAP EPS guidance includes an expected negative impact of $0.20 from unfavorable exchange rates.
• Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $1.44 to $1.50. This represents an increase from Box’s previous guidance provided on March 1, 2023, which was $1.42 to $1.48. FY24 non-GAAP EPS guidance includes an expected negative impact of $0.20 from unfavorable exchange rates.

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