Box delivers solid earnings by growing existing customer accounts

dhita yudha

Shares in Box Inc. rose almost 9% in after-hours trading today after the company reported better-than-expected second-quarter financial results.

The cloud storage and file management company reported a profit before certain costs such as stock compensation of 18 cents per share on revenue of $192.3 million, up 11% from a year ago. Wall Street had forecast earnings of just 12 cents per share on revenue of $189.56 million.

Box said the company’s success was thanks to its focus on expanding and renewing deals with its existing customer base.

“Our focus is on growing existing accounts by driving add-on product options and seat expansions with Box Suites, as well as efficiently driving new logo acquisition in key markets,” Box Chief Executive Aaron Levie (pictured) said on a call with analysts.

Box said it had $364.9 million in deferred revenue as of July 31, up 10% from a year ago. Second quarter

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Raising capital during the coronavirus pandemic?

dhita yudha

We are living in times of great uncertainty. All businesses, big and small, are trying to preserve cash through budget cuts and layoffs. Tech start-ups that are dependent on venture capital (VC) and are running low on cash are stretching their runway while trying to raise additional capital to help pull through the pandemic and maybe allow for some growth. With a third of the major investors in Israeli tech ($2.7 billion in the past year) coming from outside Israel, and with harsh travel restrictions globally and in Israel specifically, raising capital seems like mission impossible.COVID-19 has greatly impacted VC investment activities. In Israel there has been a 50% decline in early-stage VC investments since the pandemic hit. Both serial and first-time entrepreneurs have to understand the recent changes that have taken place within the VC industry globally and in Israel if they are to successfully raise capital. Here are
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