Box, Inc. today announced preliminary financial results for the fourth quarter and fiscal year 2025, which ended January 31, 2025. For Q4 FY25, revenue was $280 million, up 6.3% year-over-year, meeting Wall Street expectations. GAAP operating margin was 6.4%, and non-GAAP operating margin was 27.3%. GAAP net income per share was $1.12, and non-GAAP net income per share was $0.42, beating analyst estimates of $0.41.
For the full fiscal year 2025, revenue grew 5% year-over-year to $1.09 billion. The company achieved a non-GAAP operating margin of 28% for FY25, expanding by 320 basis points. Remaining Performance Obligations (RPO) increased 12% year-over-year to $1.466 billion, or 14% in constant currency, driven by strong contract durations. Billings for Q4 FY25 were $398.6 million, up 5% year-over-year, or 7% in constant currency, but were impacted by a larger-than-expected foreign exchange headwind of 150 basis points.
Box's Board of Directors authorized an additional $150 million expansion of its stock repurchase program on March 3, 2025, following $43 million in repurchases in Q4 FY25, with $52 million of buyback capacity remaining. For Q1 FY26, Box projects revenue between $274 million and $275 million, which is below analysts' estimates of $279.6 million, and non-GAAP EPS between $0.25 and $0.26, including a $0.06 impact from a stronger U.S. dollar.
Full-year FY26 revenue guidance is $1.155 billion to $1.160 billion, representing approximately 7% year-over-year growth (6% in constant currency). Non-GAAP EPS guidance for FY26 is $1.13 to $1.17, which includes a significant $0.52 headwind from incremental non-cash deferred tax expenses. The company emphasized its balanced approach to cost discipline and strategic investments in its Intelligent Content Management platform.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.