Cloud storage firm Box has reported a 61% increase in revenue to $62.6m for the fiscal fourth quarter ending 31 January 2015, a significant increase from the $38.8m reported for the same period in 2014.
Net loss attributable to shareholders increased to $52.9m, or $2.64 per share, in Q4, compared to $43.5m, or $3.46 cents per share, a year earlier.
The company’s operating expenses increased 33% to $93.8m in Q4, compared to $70.6m for the same period last year.
Box expects its fiscal first quarter revenue to be in the range of $63m to $64m. The company currently has over 45,000 customers globally.
Box co-founder and CEO Aaron Levie said: "The opportunity to transform how people work has never been greater, with organizations demanding technology that helps employees be more mobile and collaborative, while keeping information secure.
"Box’s solid fiscal 2015 results – with 74% revenue growth year over year – highlight our continued execution as we help our more than 45,000 customers transition to the cloud and strengthen our position as the secure platform of choice for enterprise content collaboration."
Box said it has been investing heavily to strengthen security for managing data in its cloud platform.
The company announced earlier this month that it is acquiring Subspace, a start-up which helps IT departments enable employee productivity with secure collaboration and access to data on any device.
