BOX (BOX) Q2 FY2027 earnings: revenue $321 million, up 9.2% on the year

BOX Inc. (BOX) reported revenue of $321 million for Q2 FY2027, the quarter ended 31 July 2026, up 9.2% on the same quarter a year earlier. Net income was $19 million, up 43.0% on the year, and diluted earnings per share $0.09. The figures are the company's own, from the 10-Q it filed with the SEC on 26 August 2026.

Revenue$321 millionup 9.2%

Net income$19 millionup 43.0%

Diluted EPS$0.09

QuarterQ2 FY2027ended 31 July 2026

What management said

Guidance figures: 2 raised, 2 lowered, 4 kept.

Billings growth accelerates significantly: Q2 billings of $309.5 million, up 17% reported or 16% constant currency, accelerating sharply from Q1's 5% growth (13% constant currency).
Net retention rate improved to 106%: Net retention rate improved to 106%, reflecting strong customer expansion and successful upselling of Enterprise Advanced capabilities to existing customer base.
Enterprise Advanced drives growth acceleration: Enterprise Advanced continues driving revenue acceleration in constant currency for fifth consecutive quarter, as enterprises adopt AI capabilities for secure content management and AI agent integration.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2027	Q1 FY2027	Q2 FY2026	Change on the year
Revenue	321	306	294	+9.2%
Cost of revenue	67.2	62.7	61.5	+9.2%
Gross profit	254	243	232	+9.2%
Gross margin	79.1%	79.5%	79.1%
Research and development	78.4	75.9	71.7	+9.3%
Operating income	32.6	27.4	20.6	+58.6%
Operating margin	10.2%	9.0%	7.0%
Interest expense	2.4	2.4	2.7	-10.3%
Pre-tax income	31.9	27.5	23.7	+34.2%
Income tax	12.6	9.8	10.3	+22.7%
Effective tax rate	39.7%	35.6%	43.4%
Net income	19.2	17.7	13.4	+43.0%
Net margin	6.0%	5.8%	4.6%
Diluted EPS	$0.09	$0.08	$0.05	+80.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2027	Q1 FY2027	Q2 FY2026	Change on the year
Operating cash flow	70.8	140	46.0	+54.1%
Capital expenditure	0.1	1.3	2.1	-94.2%
Free cash flow	70.7	139	43.9	+61.1%
Free cash flow margin	22.0%	45.4%	14.9%
Cash from investing	-14.0	-6.1	-8.5	n/a
Cash from financing	-90.6	-126	-65.3	n/a
Depreciation and amortisation	9.9	9.3	7.7	+28.4%
Share-based compensation	61.4	56.3	60.8	+1.0%
Buybacks	69.3	116	39.9	+73.5%
Diluted shares, weighted	140m	140m	151m	-7.5%
Shares outstanding at period end	137m	138m	145m	-5.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2027	Q1 FY2027	Q2 FY2026	Change on the year
Shareholders' equity	-351	-338	-269	n/a
Redeemable equity	497	497	495	+0.4%
Debt	452	452	450	+0.5%
Operating lease liabilities	73.1	79.2	n/a	n/a
Other liabilities	733	732	949	-22.8%
Total liabilities and equity	1,404	1,422	1,625	-13.6%
Goodwill	81.0	81.7	80.8	+0.3%
Intangible assets	103	98.6	n/a	n/a
Investments	101	98.2	100	+1.2%
Cash and equivalents	343	379	658	-47.9%
Receivables	214	192	190	+12.7%
Other assets	562	572	596	-5.8%
Total assets	1,404	1,422	1,625	-13.6%

Questions

What was BOX's revenue in Q2 FY2027?

BOX (BOX) reported revenue of $321 million for Q2 FY2027, the quarter ended 31 July 2026, up 9.2% on the same quarter a year earlier.

How much did BOX earn in Q2 FY2027?

Net income for Q2 FY2027 was $19 million, up 43.0% on the year, and diluted earnings per share $0.09.

When did BOX report Q2 FY2027 results?

BOX filed its 10-Q for the quarter ended 31 July 2026 with the SEC on 26 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026 †	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	262	263	265	270	276	280	276	294	301	306	306	321
Cost of revenue	69.2	62.7	58.3	55.5	55.6	58.8	60.7	61.5	61.6	60.9	62.7	67.2
Gross profit	192	200	206	215	220	221	216	232	240	245	243	254
Gross margin	74%	76%	78%	79%	80%	79%	78%	79%	80%	80%	79%	79%
R&D	61.0	61.9	62.7	65.4	67.9	68.9	72.3	71.7	73.9	76.6	75.9	78.4
Operating income	11.4	21.2	18.0	20.3	23.4	17.9	6.3	20.6	25.1	31.2	27.4	32.6
Operating margin	4%	8%	7%	8%	8%	6%	2%	7%	8%	10%	9%	10%
Interest expense	n/a	n/a	0.8	0.8	1.6	2.9	2.7	2.7	2.7	2.6	2.4	2.4
Pre-tax income	13.2	25.6	21.9	25.0	17.3	21.0	13.1	23.7	27.4	34.4	27.5	31.9
Tax rate	19%	-288%	21%	18%	25%	-823%	38%	43%	56%	-137%	36%	40%
Net income	10.7	99.2	17.2	20.5	12.9	194	8.2	13.4	12.1	81.7	17.7	19.2
Net margin	4%	38%	7%	8%	5%	69%	3%	5%	4%	27%	6%	6%
Diluted EPS	$0.04	$0.57	$0.08	$0.10	$0.05	$1.12	$0.02	$0.05	$0.05	$0.47	$0.08	$0.09
Operating cash flow	71.8	89.3	131	36.3	62.6	102	127	46.0	73.0	110	140	70.8
Capital expenditure	2.5	0.2	1.3	0.4	0.3	0.6	0.3	2.1	1.7	1.9	1.3	0.1
Free cash flow	69.3	89.1	130	35.9	62.3	102	127	43.9	71.3	108	139	70.7
Buybacks	51.0	21.2	32.1	107	30.0	42.4	49.7	39.9	76.9	123	116	69.3
Shares outstanding	144m	144m	146m	143m	144m	144m	145m	145m	144m	141m	138m	137m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 July 2026, filed 26 August 2026, accession 0001193125-26-368289: the filing on EDGAR. All of BOX Inc.'s filings: EDGAR company page.

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