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Box, Inc. (NYSE: BOX) is a leading cloud content management company that empowers enterprises to revolutionize their work by securely connecting their people, information, and applications. Founded in 2005, Box has grown to power more than 87,000 businesses globally, including industry giants like AstraZeneca, General Electric, Procter & Gamble, and The Gap. Headquartered in Redwood City, California, Box has a global presence with offices across the United States, Europe, and Asia.
Box provides a robust, cloud-based content services platform that offers storage and workflow collaboration services tailored for enterprise customers. Initially recognized as a file-sync and sharing provider, Box has significantly expanded its product portfolio to meet evolving business needs. Recent enhancements include advanced tools for governance, data protection, and e-signature capabilities, which streamline workflow management and promote seamless collaboration.
The company's mission is to secure and simplify the management of content for organizations of all sizes. By integrating with major applications and providing strong data protection, Box ensures that enterprises can operate efficiently and securely. Box's innovative solutions continue to set industry standards, providing clients with the tools they need to succeed in a digital-first world.
Recent Achievements and Current Projects:
- Enhanced security features ensuring compliance with global data protection regulations.
- Introduction of new e-signature capabilities to streamline document workflows.
- Expanded partnerships with leading companies to broaden the ecosystem of integrated applications.
- Ongoing development of AI-driven tools to improve content management and accessibility.
With a track record of robust financial performance and a commitment to innovation, Box stands as a pivotal player in the cloud content management sector, delivering valuable solutions to companies worldwide.
For the latest updates and detailed information about Box, Inc., visit Box's official website.
Box (NYSE:BOX) has introduced the all-new Box Shuttle, a cost-effective solution for migrating large content volumes to the Box Content Cloud. It assists organizations in moving from legacy systems, enhancing digital transformation efforts. Box Shuttle allows migration from over 15 source systems at speed rates of hundreds of terabytes per day, while preserving permissions and metadata. With over 100,000 clients, Box aims to simplify cloud transitions for businesses, especially as remote work demands rise.
Box, Inc. (NYSE:BOX) has announced a definitive agreement to acquire SignRequest, a cloud-based e-signature company, for $55 million. This acquisition aims to enhance Box's offerings with Box Sign, an integrated e-signature solution that streamlines digital transactions in the Box content cloud. The initiative is part of Box's strategy to modernize business processes and accelerate digital transformation for its customers, leveraging SignRequest's technology. The deal is expected to close in Box's first fiscal quarter ending April 30, 2021.
Box, Inc. (NYSE:BOX) will report its financial results for the fourth quarter and fiscal year ending January 31, 2021, post-market on March 2, 2021. A conference call and webcast will occur at 2:00 p.m. PT to discuss these results and business updates. Interested parties can register for the call online. The company, a leader in cloud content management, serves notable clients like AstraZeneca and Morgan Stanley. Further details on Box's operations and financial performance will be available during the call.
Box announced the pricing of $315 million in 0% convertible senior notes due January 2026, with an option for initial purchasers to acquire an additional $30 million. The notes will mature unless converted or repurchased and will not bear regular interest. The initial conversion rate is set at approximately $25.80 per share, representing a 45% premium over the last sale price on January 11, 2021. Net proceeds are estimated at $306.3 million, intended for working capital and potential acquisitions.
Box, Inc. (NYSE: BOX) announced plans to offer $300 million of convertible senior notes due 2026 in a private placement. An additional $45 million may be purchased by initial note purchasers. The notes will be unsecured and will accrue semiannual interest. Proceeds will fund capped call transactions, working capital, debt repayment, and potential acquisitions. However, no specific acquisitions are confirmed. The company highlights that the offering's structure may impact the market price of its shares due to hedging activities.
Box announced a five-year, $6.2 million contract with the Defense Contract Management Agency (DCMA) in September 2020, enhancing its position as a leader in cloud content management. The DCMA will utilize Box's platform to support the U.S. Department of Defense, ensuring efficient procurement and contract management across 300,000 contracts valued over $7 trillion. Box’s compliance with federal regulations and partnerships with agencies like the U.S. Air Force illustrate its capability to modernize government operations, aiming to improve flexibility, reduce operating costs, and meet future technology needs.
Box (NYSE: BOX) has been selected by the U.S. Department of the Air Force to enhance secure collaboration and processes for the Air Education and Training Command and Air Combat Command. Key initiatives include creating a centralized electronic flight bag, sharing large files, launching workflows via Box Relay, and ensuring secure access to content. Box is FedRAMP compliant and has achieved Department of Defense SRG Impact Level 4 Authorization. This partnership illustrates Box's role in supporting the digitization of military operations.
Box, Inc. reported financial results for Q3 FY21, ending October 31, 2020. Revenue reached $196 million, an increase of 11% year-over-year. Remaining performance obligations were $755.9 million, up 19%. Box improved its operating margins, expecting a non-GAAP operating margin of at least 14% for the full year, a significant uptick from 1% last year. Non-GAAP net income per share was $0.20, a turnaround from a $0.01 loss in Q3 FY20. Outlook for Q4 projects revenue between $196 million and $197 million.
Box (NYSE:BOX) has been recognized as a Leader in the 2020 Gartner Magic Quadrant for Content Services Platforms, marking a significant achievement in a competitive market. The assessment evaluated 18 vendors based on their vision and execution capabilities. Box's success is attributed to its focus on simplicity, ease of adoption, and cloud readiness, which aligns with current market trends accelerated by the COVID-19 pandemic. This recognition follows earlier accolades, including the Gartner Customers' Choice for Content Services Platforms and Content Collaboration Tools.
Box, Inc. (NYSE:BOX), a leader in cloud content management, announced that its management team will present at the Wells Fargo TMT Summit on December 2, 2020, at 4:00 PM ET. Speakers include co-founder and CEO Aaron Levie and co-founder and CFO Dylan Smith. The event will be webcast live and available for replay for 90 days afterward. Box simplifies work for organizations globally and has notable clients including AstraZeneca and Morgan Stanley. Visit Box's website for more details.
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