Q1 27 EPS
$0.37
BEAT +2.01%
Est. $0.36
Q1 27 Revenue
$305.9M
BEAT +0.61%
Est. $304.1M
vs S&P Since Q1 27
+4.1%
BEATING MARKET
BOX +1.8% vs S&P -2.3%
Market Reaction
Did BOX Beat Earnings? Q1 2027 Results
Box kicked off fiscal 2027 on a confident note, posting Q1 revenue of $305.94 million, up 10.7% year-over-year and ahead of the $304.09 million consensus estimate, while non-GAAP diluted EPS of $0.37 topped the $0.36 consensus by 2.01%, marking the c… Read more Box kicked off fiscal 2027 on a confident note, posting Q1 revenue of $305.94 million, up 10.7% year-over-year and ahead of the $304.09 million consensus estimate, while non-GAAP diluted EPS of $0.37 topped the $0.36 consensus by 2.01%, marking the company's fifth consecutive quarter of beating EPS expectations. Heading into the print, investors were watching closely for signs of momentum, and Box delivered, with accelerating adoption of its Enterprise Advanced tier and Box AI solutions cited as the primary growth catalysts. GAAP operating margin expanded sharply to 9.0% from 2.3% a year ago, while non-GAAP operating margin climbed to 27.7% from 25.3%, as the prior-year period's $7.12 million workforce reorganization charge did not meaningfully recur. Remaining performance obligations rose 12% to $1.60 billion, underscoring healthy forward visibility despite persistent yen-driven FX headwinds. Looking ahead, Box guided Q2 revenue to approximately $319 million and full-year FY27 revenue to approximately $1.28 billion, with non-GAAP EPS of approximately $1.56 for the full year.
Key Takeaways
- • Customer adoption of Enterprise Advanced tier
- • Box AI solutions driving accelerating revenue growth
- • Expanding operating margins through operating efficiencies
- • Strong net retention rate exceeding guidance
BOX Forward Guidance & Outlook
For Q2 FY27 (three months ending July 31, 2026), Box expects revenue of approximately $319 million (up 9% YoY, 10% constant currency), GAAP operating margin of approximately 10.0%, non-GAAP operating margin of approximately 28.5%, GAAP diluted EPS of approximately $0.11, and non-GAAP diluted EPS of approximately $0.39. For full-year FY27 (ending January 31, 2027), Box expects revenue of approximately $1.280 billion (up 9% YoY, 10% constant currency), GAAP operating margin of approximately 9.0%, non-GAAP operating margin of approximately 28%, GAAP diluted EPS of approximately $0.40, and non-GAAP diluted EPS of approximately $1.56. Weighted-average diluted shares are expected to be approximately 139 million for both periods. FX headwinds are expected to impact Q2 revenue by approximately 170 basis points and full-year revenue by approximately 90 basis points.
BOX YoY Financials
Q1 2027 vs Q1 2026, source: SEC Filings
“Box delivered a strong start to FY27 as organizations are increasingly turning to our Intelligent Content Management platform to unlock more value from their unstructured data with AI.”
— Aaron Levie, Q1 2027 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% |