Q2 25 EPS
$0.44
BEAT +10.00%
Est. $0.40
Q2 25 Revenue
$270.0M
BEAT +0.32%
Est. $269.2M
vs S&P Since Q2 25
-48.7%
TRAILING MARKET
BOX -17.4% vs S&P +31.3%
Market Reaction
Did BOX Beat Earnings? Q2 2025 Results
Box delivered a clean beat across the board in fiscal Q2 2025, posting adjusted EPS of $0.44 against a consensus estimate of $0.40, a 10% beat that marked the fourth consecutive quarter the company has topped Wall Street's EPS expectations. Revenue c… Read more Box delivered a clean beat across the board in fiscal Q2 2025, posting adjusted EPS of $0.44 against a consensus estimate of $0.40, a 10% beat that marked the fourth consecutive quarter the company has topped Wall Street's EPS expectations. Revenue came in at $270.04 million, edging past the $269.18 million estimate and rising 3.3% year-over-year, though the underlying demand picture looked stronger at 6% growth on a constant currency basis, as a weakening yen created a meaningful $0.05 per-share headwind. The real story was margin expansion, with non-GAAP operating margin climbing to 28.4% from 24.8% a year ago, fueled by infrastructure efficiencies and cost discipline. Billings jumped 10% to $256.44 million, signaling strengthening demand, while remaining performance obligations grew 12% to $1.27 billion. Looking ahead, Box guided Q3 revenue to $274 to $276 million and full-year FY25 revenue to approximately $1.09 to $1.09 billion, with some observers noting that Box's AI-driven product expansion into intelligent content management will be a key test of whether that growth trajectory can accelerate further.
Key Takeaways
- • Accelerated billings growth of 10% year-over-year
- • RPO growth of 12% year-over-year to $1.272 billion
- • Record non-GAAP gross margin of 81.6% and non-GAAP operating margin of 28.4%
- • Constant currency revenue growth of 6%
BOX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“As we enter the era of Intelligent Content Management, Box is delivering a singular platform that can power the lifecycle of content with intelligence built right in.”
— Aaron Levie, Q2 2025 Earnings Press Release
BOX Earnings Trends
BOX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BOX EPS Trend
Earnings per share: estimate vs actual
BOX Revenue Trend
Quarterly revenue: estimate vs actual
BOX Quarterly Results
12 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.36 | $0.37 | +2.01% | $305.9M | +0.61% |
| Q4 26 BEAT FY | $0.34 | $0.49 | +45.92% | $305.9M | +0.08% |
| FY Full Year | — | $1.44 | — | $1.18B | — |
| Q3 26 MISS | $0.31 | $0.31 | -1.21% | $301.1M | +0.73% |
| Q2 26 BEAT | $0.31 | $0.33 | +6.38% | $294.0M | +1.31% |
| Q1 26 BEAT | $0.26 | $0.30 | +17.19% | $276.3M | +0.55% |
| Q4 25 MISS FY | $0.42 | $0.42 | -0.59% | $279.5M | +0.12% |
| FY Full Year | — | $1.71 | — | $1.09B | — |
| Q3 25 BEAT | $0.42 | $0.45 | +6.46% | $275.9M | +0.30% |
| Q2 25 BEAT | $0.40 | $0.44 | +10.00% | $270.0M | +0.32% |
| Q2 24 BEAT | $0.35 | $0.36 | +2.86% | $261.4M | +0.12% |
| Q4 23 BEAT FY | $0.34 | $0.37 | +8.82% | $256.5M | +0.16% |
| FY Full Year | — | $1.20 | — | $990.9M | — |
| Q2 22 BEAT | $0.19 | $0.21 | +10.53% | $214.5M | +0.96% |
| Q1 22 BEAT | $0.17 | $0.18 | +5.88% | $202.4M | +0.98% |