Box Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Box Inc. has filed its 2024 10-K, providing a comprehensive overview of its financial performance, executive compensation, and risk factors for the fiscal year ending January 31, 2024.</b>

AI Summary

BOX INC (BXCAP) filed a Annual Report (10-K) with the SEC on March 11, 2024. Box Inc. filed its 2024 Form 10-K on March 11, 2024, for the fiscal year ending January 31, 2024. The filing details various financial activities including Research and Development, Selling and Marketing, and General and Administrative expenses across fiscal years 2021-2023. Key financial instruments mentioned include Convertible Debt Securities, Revolving Credit Facility, and Common Stock (Class A). The company's capitalization requirements and share repurchase plans are noted as of January 31, 2024. Executive bonus plans and equity incentive plans, including Restricted Stock Units (RSUs) and Employee Stock Options, are detailed for fiscal years 2021-2024.

Why It Matters

For investors and stakeholders tracking BOX INC, this filing contains several important signals. This 10-K filing provides investors with crucial details on Box Inc.'s financial health, operational expenses, and capital structure, enabling informed investment decisions. The detailed breakdown of expenses, debt, and equity instruments offers insights into the company's strategic financial management and future growth potential.

Risk Assessment

Risk Level: medium — BOX INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not present immediate red flags or significant negative trends that would elevate the risk level beyond medium without further analysis of the specific financial figures and risk factors.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess Box Inc.'s financial stability and growth prospects.

Key Numbers

• 01372612 — Central Index Key (Box Inc. CIK)
• 7372 — SIC Code (Services-Prepackaged Software)
• DE — State of Incorporation (Delaware)
• 001-36805 — SEC File Number (Box Inc. SEC File Number)

Key Players & Entities

• BOX INC (company) — Filer
• 0000950170-24-029241 (other) — Accession Number
• 20240131 (date) — Fiscal Year End
• 20240311 (date) — Filing Date
• 900 JEFFERSON AVE (address) — Business Address
• REDWOOD CITY (location) — Business Address City
• CA (location) — Business Address State
• 94063 (other) — Business Address Zip

FAQ

Industry Context

Box Inc. operates in the software industry, specifically focusing on cloud content management and collaboration services.

Regulatory Implications

As a publicly traded company, Box Inc. is subject to the regulations of the Securities and Exchange Commission (SEC), requiring regular filings like the 10-K.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Examine the executive compensation details for alignment with company performance.
3. Review the risk factors section for potential challenges and mitigation strategies.

Key Dates

• 2024-01-31: Fiscal Year End — End of reporting period for the 10-K
• 2024-03-11: Filing Date — Date the 10-K was filed with the SEC

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share BOX New York S

Filing Documents

• box-20240131.htm (10-K) — 3150KB
• box-ex10_16.htm (EX-10.16) — 180KB
• box-ex21_1.htm (EX-21.1) — 13KB
• box-ex23_1.htm (EX-23.1) — 11KB
• box-ex31_1.htm (EX-31.1) — 13KB
• box-ex31_2.htm (EX-31.2) — 13KB
• box-ex32_1.htm (EX-32.1) — 13KB
• box-ex97_1.htm (EX-97.1) — 49KB
• img14963555_0.jpg (GRAPHIC) — 341KB
• img14963555_1.jpg (GRAPHIC) — 205KB
• img14963555_2.jpg (GRAPHIC) — 6KB
• img14963555_3.jpg (GRAPHIC) — 13KB
• img14963555_4.jpg (GRAPHIC) — 14KB
• img14963555_5.jpg (GRAPHIC) — 190KB
• img17489633_0.jpg (GRAPHIC) — 150KB
• 0000950170-24-029241.txt (&nbsp;) — 13643KB
• box-20240131.xsd (EX-101.SCH) — 1822KB
• box-20240131_htm.xml (XML) — 1971KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 46 Item 1C. Cybersecurity 46 Item 2.

Properties

Properties 47 Item 3.

Legal Proceedings

Legal Proceedings 47 Item 4. Mine Safety Disclosures 47 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 48 Item 6. Reserved 50 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 51 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 67 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 68 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 100 Item 9A.

Controls and Procedures

Controls and Procedures 100 Item 9B. Other Information 100 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 100 PART III Item 10. Directors, Executive Officers and Corporate Governance 101 Item 11.

Executive Compensation

Executive Compensation 101 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 101 Item 13. Certain Relationships and Related Transactions, and Director Independence 101 Item 14. Principal Accountant Fees and Services 101 PART IV Item 15. Exhibits, Financial Statement Schedules 102 Item 16 Form 10-K Summary 102

Signatures

Signatures 107 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial and operating results; including expectations regarding revenue, deferred revenue, billings, remaining performance obligations, gross margins, operating income, and net retention rate; our ability to maintain an adequate rate of revenue and billings growth and our expectations regarding such growth; our market opportunity, business plan and ability to effectively manage our growth; the effects of global economic conditions on our business and the impact of foreign exchange rates on our business; our ability to maintain profitability and expand or maintain positive cash flow; our ability to achieve our long-term and short-term gross and operating margin objectives; our ability to grow our remaining performance obligations; our expectations regarding our revenue mix; our ability to maintain, protect and enhance our brand and intellectual property; costs associated with defending intellectual property infringement and other claims and the frequency of such c

BUSINESS

Item 1. BUSINESS Overview Box is the Content Cloud: a secure and intelligent content platform. Box gives organizations a single platform for their unstructured data – which typically represents about 90% of all data within an organization. This data is content – from blueprints to wireframes, videos to documents, proprietary formats to PDFs – and it is the source of an organization's unique value. The Box Content Cloud enables our customers to securely manage the entire content lifecycle, from the moment a file is created or ingested to when it is shared, edited, published, approved, signed, classified, and retained. Box keeps content secure and compliant, while also allowing easy access and sharing of this content from anywhere, on any device – both within the organization and with external partners. With our Software-as-a-Service (SaaS) platform, users can work with their content as they need – from secure external collaboration and sharing, to workspaces and portals, to e-signature processes and content workflows – improving employee productivity and accelerating business processes. IT teams can establish a space for compliant content management, and developers can easily create customized portals for white-labeled content collaboration. Administrators have a plethora of security, data protection, and compliance features they can activate to provide users with a better way meet legal and regulatory requirements, internal policies, and industry standards and regulations. The Box platform enables a broad range of high-value business use cases – and integrates with more than 1,500 leading business applications. With hundreds of file formats and media types supported, Box is compatible with multiple application environments, operating systems, and devices – ensuring that workers can securely access their critical business content whenever and wherever they need it. Our go-to-market strategy includes selling the entire platform to an organization with the full

View Full Filing

View this 10-K filing on SEC EDGAR