Box (BOX) financial statements
Box reported revenue of $1.2B in fiscal 2026, up 12.8% a year over 9 years.
Net income was $115M and the operating margin 7.1%, against -37.8% in 2017.
Free cash flow was $350M, and the company returned $290M in net buybacks.
The diluted share count rose 17% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Box's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $399M | $506M | $608M | $696M | $771M | $874M | $991M | $1.0B | $1.1B | $1.2B |
| Cost of revenue | $112M | $135M | $174M | $216M | $225M | $249M | $253M | $261M | $228M | $245M |
| Gross profit | $286M | $371M | $435M | $481M | $546M | $625M | $738M | $777M | $862M | $933M |
| Research and development | $116M | $137M | $164M | $200M | $201M | $219M | $244M | $249M | $265M | $295M |
| Selling, general and admin | $321M | $388M | $405M | $420M | $382M | $434M | $458M | $478M | $518M | $555M |
| Operating income | -$151M | -$154M | -$134M | -$139M | -$38M | -$28M | $37M | $51M | $80M | $83M |
| Interest expense | — | — | — | — | — | — | $5M | $4M | $6M | $11M |
| Pre-tax income | -$151M | -$154M | -$133M | -$143M | -$42M | -$37M | $34M | $63M | $85M | $99M |
| Income tax | $914,000 | $715,000 | $1M | $1M | $1M | $4M | $8M | -$66M | -$159M | -$17M |
| Net income | -$152M | -$155M | -$135M | -$144M | -$43M | -$41M | $27M | $129M | $245M | $115M |
| EPS (diluted) | -$1.19 | -$1.16 | -$0.95 | -$0.98 | -$0.28 | -$0.35 | $0.06 | $0.67 | $1.36 | $0.58 |
| Diluted shares | 127M | 134M | 141M | 148M | 156M | 156M | 150M | 149M | 149M | 149M |
| Gross margin | 71.9% | 73.3% | 71.5% | 69.0% | 70.8% | 71.5% | 74.5% | 74.9% | 79.1% | 79.2% |
| Operating margin | -37.8% | -30.4% | -22.1% | -20.0% | -4.9% | -3.2% | 3.7% | 4.9% | 7.3% | 7.1% |
| Net margin | -38.1% | -30.6% | -22.1% | -20.7% | -5.6% | -4.7% | 2.7% | 12.4% | 22.4% | 9.8% |
Balance sheet
Fiscal years, from Box's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $177M | $208M | $218M | $196M | $595M | $586M | $231M | $256M | $287M | $171M |
| Receivables | $120M | $162M | $175M | $209M | $228M | $256M | $265M | $281M | $293M | $325M |
| Total current assets | $322M | $399M | $429M | $458M | $879M | $917M | $807M | $842M | $1.1B | $891M |
| Property, plant and equipment | $117M | $124M | $138M | $191M | $160M | $106M | $70M | $31M | $25M | $24M |
| Goodwill | $16M | $16M | $19M | $19M | $19M | $74M | $74M | $77M | $77M | $82M |
| Total assets | $494M | $554M | $650M | $960M | $1.4B | $1.4B | $1.2B | $1.2B | $1.7B | $1.5B |
| Total current liabilities | $298M | $394M | $463M | $577M | $613M | $719M | $716M | $679M | $922M | $803M |
| Long-term debt | $40M | $40M | $40M | $40M | $298M | $367M | $369M | $371M | $449M | $451M |
| Total liabilities | $419M | $539M | $619M | $938M | $1.2B | $1.3B | $1.2B | $1.2B | $1.5B | $1.3B |
| Shareholders' equity | $75M | $15M | $31M | $22M | $151M | -$395M | -$524M | -$431M | -$297M | -$299M |
| Net debt | -$137M | -$168M | -$178M | -$156M | -$297M | -$49M | -$59M | -$13M | $28M | $76M |
Cash flow
Fiscal years, from Box's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2M | $35M | $55M | $45M | $197M | $235M | $298M | $319M | $332M | $356M |
| Capital spending | $15M | $12M | $15M | $5M | — | — | $5M | $5M | $3M | $6M |
| Free cash flow | -$17M | $24M | $41M | $39M | — | — | $293M | $314M | $330M | $350M |
| Stock-based compensation | $78M | $97M | $119M | $146M | $154M | $179M | $186M | $199M | $219M | $234M |
| Share buybacks (net) | — | — | — | — | — | -$562M | -$274M | -$177M | -$211M | -$290M |
| Net borrowing | — | — | — | — | $30M | — | — | — | — | — |
| Free cash flow margin | -4.4% | 4.7% | 6.7% | 5.6% | — | — | 29.6% | 30.3% | 30.2% | 29.8% |
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Open BOX in InvestinglyQuestions
What was Box's revenue in 2026?
$1.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does Box generate?
$350M in fiscal 2026 (operating cash flow minus capital spending).
From Box's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.