Box, Inc. (BOX), a company that provides a cloud content management platform, has soared 9.35% in aftermarket trading session. As a result, BOX stock is trading at $25.60 at the time of the writing. The rise could be attributed to the announcement of quarterly results. On Tuesday, BOX closed the day at $23.41 after declining 3.14% during the regular trading session.
Why BOX Rising?
In the late hours of Tuesday, BOX released the operational results for the third quarter of the fiscal year 2022. The quarter ended on 31st October 2021. The company generated total revenue of $224 million during the quarter against $196 million for the same quarter of 2020. The total operating expense for the three months was $172 million against $141.8 million for the same period of 2020. The net loss suffered by the company during the quarter was $13.86 million (or $0.12 per basic and diluted share) against $5.28 million (or $0.03 per basic and diluted share) for the same quarter of 2020.
Financial Guidance
BOX also reported the financial guidance for the fourth quarter of fiscal 2022. The company expected the revenue to be in the range of $227 to $229 million. The GAAP operating margin was expected to be about 1%, while the non-GAAP operating margin was expected to be about 21%. The GAAP basic and diluted loss per share is expected to stand between $0.06 and $0.05. The non-GAAP diluted net income per share is expected to fall in the range of $0.22 to $0.23.
Executive Commentary
Aaron Levie, co-founder and CEO of BOX, while commenting on the results said that the strong quarterly results depict the long term growth strategy by the company as more and more customers are turning toward the company’s content cloud. He believed that the company’s leadership in the content cloud market is driving acceleration toward the growth and expansion of its customer footprint.
Future Outlook for BOX
During the last three months, BOX stock has declined approximately 10%. Looking ahead, it appears that the stock is in a good shape to attract potential investors. So, investors should keep a close eye on the fluctuations of BOX stock to make an informed decision regarding their investment.
