View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cloud
December 3, 2015

Box losses widen in Q3 despite revenue growth

News: Increased spending on sales, marketing and R&D results in increased losses.

By James Nunns

Cloud storage firm Box has reported a widening loss despite revenue increases in its third quarter 2016 financials.

The company‘s revenue rose 38% year-over-year with billings growth of 37%, this brought revenue to $78.7 million while billings were at $89.4 million.

Despite this a non-GAAP operating loss in the third quarter was reported at $37.9 million, which equals 48% of the revenue. In 2015 this loss was $34.2 million, or 60% of revenue.

The loss has been attributed to an increased level of spending in marketing and research and development. A rise of 16% to $64 million in spending on sales and marketing was reported, with R&D spend at $26.3 million, more than double the previous quarter.

Box said that it has more than 41 million registered users. Although the majority don’t pay for the services, the company said that its base of paying customers grew by 4,000 since the last quarter to 54,000.

Content from our partners
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business
When it comes to AI, remember not every problem is a nail

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU