Filing Flows › Box (BOX) › Q1 FY26
Box (BOX) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed May 29, 2025
Box (BOX) reported revenue of $276M for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -1% from the quarter before. Operating margin was 2.3%, net earnings $8.2M (3.0% of revenue).
Box, Q1 FY26: revenue $276M (+4% year over year), operating margin 2.3%, net earnings $8.2M, operating cash flow $127M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $276M | -1% | +4% |
| Gross profit | $216M | -2% | +4% |
| Operating profit | $6.3M | -65% | -65% |
| Net earnings | $8.2M | -96% | -52% |
| Operating cash flow | $127M | +24% | -3% |
| Free cash flow | $127M | +25% | -2% |
What changed
Revenue was $276.3M in Q1 FY26, up 4% year over year and down 1% from the previous quarter.
Gross margin was 78.0%, unchanged from a year earlier. Operating profit was $6.3M, a 2.3% margin (down 4.5 points year over year). Operating profit fell $11.7M even though revenue rose $11.6M versus a year earlier, so costs grew faster than sales. Operating expenses grew 11% against revenue growth of 4%. The fastest-growing cost line was Research & development (+15%). Net earnings were $8.2M, down 52% year over year. The effective tax rate was 37.7%. Non-operating items added $6.8M, 52% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $127.1M (down 3% year over year), 1551% of net earnings. Non-cash charges added back $6.9M of depreciation and amortization and $54.9M of share-based compensation. Working capital and other items added $57.1M. Capital expenditures of $349K left free cash flow of $126.7M.
Questions
What was Box's revenue in the first quarter fiscal 2026?
Box (BOX) reported revenue of $276M for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -1% from the quarter before.
Was Box profitable in the first quarter fiscal 2026?
Operating profit was $6.3M (2.3% of revenue) and net earnings $8.2M.
Source: Box 10-Q on SEC EDGAR.