When Box Inc. (NYSE: BOX) released its fiscal fourth-quarter earnings report after the markets closed on Wednesday, it said it had a net loss of $0.26 per share on $85 million in revenue. That compares to consensus estimates that called for a net loss of $0.29 per share on $81.7 million in revenue.
Billings in the fourth quarter were a record $130.2 million, an increase of 59% from the previous fourth quarter.
In terms of guidance for the fiscal first quarter, the company expects to have a net loss in the range of $0.24 to $0.23 per share and revenue in the range of $88 million to $89 million. The consensus estimates call for a net loss of $0.24 per share on $86.89 million in revenue.
On the books, cash, cash equivalents and marketable securities totaled $193.1 million at the end of the quarter, compared to $330.4 million in the same period last year.
Dylan Smith, Box co-founder and chief financial officer, commented:
In the fourth quarter, we delivered strong year-over-year revenue growth of 36% and billings growth of 59%. These top-line results, coupled with our positive cash flow from operations, reflect our progress towards achieving positive free cash flow in the fourth quarter of fiscal year 2017. With strong strategic partnerships, expanding cross-selling opportunities, and a large market opportunity still ahead of us, we are well-positioned for both continued growth and future profitability.
Shares of Box traded up 10% at $13.79 early Thursday, before retreating. The consensus analyst price target of $17.86 and a 52-week trading range of $8.82 to $20.60.
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