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How Box (BOX) makes money
Box (BOX) made $321M of revenue in the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier. Of every dollar of revenue, 79¢ was left as gross profit, 10¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q2 FY27 | % of revenue |
|---|---|---|
| Revenue | $321M | 100.0% |
| Cost of revenue | $67.2M | 20.9% |
| Gross profit | $254M | 79.1% |
| Operating expenses | $221M | 68.9% |
| Operating profit | $32.6M | 10.2% |
| Income tax | $12.6M | 3.9% |
| Net earnings | $19.2M | 6.0% |
| Operating cash flow | $70.8M | 22.1% |
| Free cash flow | $70.7M | 22.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 FY27 | $321M | +9% |
| Q1 FY27 | $306M | +11% |
| Q4 FY26 | $306M | +9% |
| Q3 FY26 | $301M | +9% |
| Q2 FY26 | $294M | +9% |
| Q1 FY26 | $276M | +4% |
| Q4 FY25 | $280M | +6% |
From Box's 10-Q filed Aug 26, 2026 (on EDGAR).
Questions
How does Box make money?
Box (BOX) made $321M of revenue in the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier. Of every dollar of revenue, 79¢ was left as gross profit, 10¢ was left as operating profit, 6¢ was left as net earnings.
What is Box's profit margin?
Net earnings were $19.2M, 6.0% of revenue, in the second quarter fiscal 2027; the operating margin was 10.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.