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Box Inc. Class A (BOX-0.43%) has submitted its 10-K filing for the fiscal year ended January 31, 2025.
The filing details the company's financial performance, reporting a revenue of $1.090 billion, an increase from $1.038 billion in the previous year. This growth was driven by seat expansion within existing customers and the strong adoption of multi-product Suites offerings.
Cost of revenue decreased to $228.1 million from $260.6 million, primarily due to reduced depreciation and data center expenses following the company's migration to public cloud infrastructure.
Operating expenses increased to $782.4 million, up from $726.4 million, with research and development expenses rising due to increased headcount and higher capitalized software costs.
Box reported a net income of $244.6 million, significantly up from $129.0 million in the prior year, aided by a $201.2 million release of a valuation allowance on deferred tax assets.
The company generated $332.3 million in cash from operating activities, with a free cash flow of $304.6 million, reflecting effective cost management and operational efficiencies.
Box's remaining performance obligations were $1.466 billion, indicating a strong pipeline of contracted revenue yet to be recognized.
The filing also highlights Box's continued focus on expanding its product offerings, including the launch of Box AI, Box Hubs, and enhancements to its document processing capabilities.
Box's strategic initiatives include expanding its international footprint, particularly in Japan, and leveraging partnerships with key technology providers to enhance its platform capabilities.
The company faces risks related to competition, data privacy regulations, and economic conditions, which could impact its growth and financial performance.
Box does not anticipate paying dividends on its common stock in the foreseeable future, preferring to reinvest in growth and strategic initiatives.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Box Inc. Class A annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.