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Box is cash flow positive once more, with 26% revenue growth

Box posted its third-quarter income after the bell on Wednesday.

The cloud control industry reported $129.three million in revenue, up 26% from ultimate 12 months. This beat analyst estimates of $128.64 million.

The corporate additionally reported an adjusted unfavorable 13 cents in keeping with percentage, in line with Wall Street estimates. This compares to unfavorable 14 cents from ultimate 12 months.

Last quarter, buyers have been involved that the corporate quickly misplaced its cash flow positive standing, however Box has since regained it.

The corporate posted unfastened cash flow of $6.three million, up $17 million from the similar length ultimate 12 months.

Box CEO Aaron Levie says they’re in a “really really good spot from a cash generation standpoint.”

He mentioned that this quarter additionally they “launched a whole bunch of a new technology around machine learning and AI.” He’s regarding a brand new multimedia-focused toolkit they introduced referred to as Box Skills.

Box now has 80,000 undertaking and govt shoppers. In its newest quarter, it added companies like Foster Farms and in addition the U.S. Food and Drug Administration.

Box says its revenue for the 12 months is anticipated to be between $505 million and $506 million.

Box’s inventory is up 43% previously 12 months.

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