Box reported revenue for the first quarter of its fiscal year of $202.4 million, an increase of 10% from the first quarter of fiscal year 2021. Non-GAAP gross profit for the first quarter of fiscal year 2022 was $147.9 million, or 73% of revenue. This compares to a non-GAAP gross profit of $134.1 million, or 73% of revenue, in the first quarter of fiscal year 2021. GAAP net loss per share, basic and diluted, in the first quarter of fiscal year 2022 was $0.09 on 161.7 million weighted-average shares outstanding. Non-GAAP net income per share, diluted, in the first quarter of fiscal year 2022 was $0.18.
“Our vision for the Content Cloud is resonating with our customers. They recognize the strategic importance of securing, automating, integrating, and collaborating on content, and are investing in the full power of Box,” said Aaron Levie, co-founder and CEO of Box. “The strategy we’ve been executing on is yielding positive results as reflected in our strong start to FY22 and we’re poised to build on our leadership and drive our next phase of growth.”
“Q1 was an excellent start to the year, highlighted by strong billings, RPO, and revenue growth, in addition to increased profitability,” said Dylan Smith, Box’s co-founder and CFO. “As we build on this momentum and continue to focus on driving profitable growth, we’re well positioned to accelerate revenue growth over time and achieve our long-term financial targets.”
