Home / Gadgets / Box is cash flow positive once more, with 26% revenue growth

Box is cash flow positive once more, with 26% revenue growth

Box posted its third-quarter profits after the bell on Wednesday.

The cloud control industry reported $129.three million in revenue, up 26% from closing yr. This beat analyst estimates of $128.64 million.

The corporate additionally reported an adjusted adverse 13 cents consistent with proportion, in line with Wall Street estimates. This compares to adverse 14 cents from closing yr.

Last quarter, traders have been involved that the corporate quickly misplaced its cash flow positive standing, however Box has since regained it.

Box posted unfastened cash flow of $6.three million, up $17 million from the similar length closing yr.

CEO Aaron Levie says they’re in a “really really good spot from a cash generation standpoint.”

He mentioned that this quarter additionally they “launched a whole bunch of a new technology around machine learning and AI.” He’s regarding a brand new multimedia-focused toolkit they introduced referred to as Box Skills.

Box now has 80,000 undertaking and executive consumers. In its newest quarter, it added companies like Foster Farms and in addition the U.S. Food and Drug Administration.

Box says its revenue for the yr is anticipated to be between $505 million and $506 million. The corporate’s inventory is up 43% prior to now yr.

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