Box Posts Q3 Revenue of Revenue of $102.8 Million, Up 31%

Box posted record revenue of $102.8 million for the third quarter of its fiscal 2017, an increase of 31% from the third quarter of fiscal 2016. Deferred revenue for the third quarter of fiscal 2017 ended at $192.6 million, an increase of 36% from the third quarter of fiscal 2016. GAAP operating loss in the third quarter of fiscal 2017 was $37.8 million, or 37% of revenue. This compares to GAAP operating loss of $55.0 million, or 70% of revenue, in the third quarter of fiscal 2016.

"In the third quarter, we delivered record revenue of $102.8 million, up 31% year-over-year, and continued to improve operational efficiencies throughout the business," said Aaron Levie, co-founder and CEO of Box. "We reached a significant milestone with our first $100 million quarter. We also hosted our most successful BoxWorks to date and announced a new strategic partnership with Google. With our track record of product innovation and continued momentum with new and existing customers, Box is uniquely positioned to help businesses modernize how they manage information and transform how they work.”

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