Box investors came into Wednesday's quarterly report with high expectations after the stock's 32 percent rally this year. Even though the company's fiscal first-quarter results topped estimates, the shares dropped as much as 10 percent Thursday morning.
Here are the key numbers from the report:
- Earnings: Excluding certain items, loss of 7 cents per share vs. loss of 8 cents per share as expected by analysts, according to Thomson Reuters.
- Revenue: $140.5 million vs. $139.7 million as expected by analysts, according to Thomson Reuters.
Revenue increased 20 percent in the quarter, according to a statement. The company's billings revenue in the quarter totaled $116.7 million, above the FactSet analyst estimate of $113.1 million.
The stock, which has surged 50 percent in the past year, fell almost 10 percent to $24.49 in morning trading.
Box's software had 59.9 million registered users, with 10.4 million of them paying for it, chief financial officer Dylan Smith told analysts on the company's quarterly conference call.