Box reported revenue for the third quarter of its fiscal 2016 of $78.7 million, an increase of 38% from the third quarter of fiscal 2015. Billings in the third quarter of fiscal 2016 were a record of $89.4 million, an increase of 37% from the third quarter of fiscal 2015. There was a non-GAAP operating loss in the third quarter of fiscal 2016 was $37.9 million, or 48% of revenue.
During the quarter, the company grew its paying customer base to 54,000 businesses, including 55% of the Fortune 500. Box also increased the number of registered users to over 41 million.
“Enterprises in every industry are moving content to the cloud by investing in modern platforms that accelerate employee productivity and replace legacy systems,” said Aaron Levie, co-founder and CEO of Box. “As our strong revenue growth in Q3 indicates, Box is uniquely positioned to drive this transition. We continue to deliver innovations like Box Governance and Box Platform that differentiate us from competitors and assist our global customers to standardize on Box as their next-generation content platform.”
