Box, Inc. (NYSE:BOX) Q2 2018 Earnings Conference Call - Preliminary Transcript

Aug 30, 2017 • 05:00 pm ET


Box, Inc. (NYSE:BOX) Q2 2018 Earnings Conference Call - Preliminary Transcript


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Good afternoon. My name is Mike and I will be your conference operator today. At this time, I would like to welcome everyone to the Box Second Quarter Fiscal 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. [Operator Instructions].

I will now turn the call over to Stephanie Wakefield, Vice President of Investor Relations. You may begin your conference.

Stephanie Wakefield

Good afternoon and welcome to Box's second quarter fiscal year 2018 earnings conference call. On the call today, we have Aaron Levie, our CEO; and Dylan Smith, our CFO. Following our prepared remarks, we will take questions. Today's call is being web cast and will also be available for replay on our Investor Relations website at Our web cast will be audio only. However, supplemental slides are now available for download on our web site. We will also post the highlights of today's call on Twitter at the handle @boxincir.

On this call, we will be making forward-looking statements, including our Q3 and full year 2018 financial guidance, and our expectations regarding our financial results, market adoption of our products, our market size, our operating leverage, our expectations regarding achieving and maintaining positive free cash flow and future profitability, our planned investments and growth strategies, our ability to achieve long term revenue and other operating model targets and expected timing and benefits from our new products and partnerships. These statements reflect our best judgments based on factors currently known to us and actual events or results may differ materially.

Please refer to the press release and the risk factor documents we file with the SEC, including the most recent Form 10-Q quarterly report for information on risks and uncertainties that may cause actual results to differ materially. These forward-looking statements are being made as of today, August 30, 2017 and we disclaim any obligation to update or revise them, should they change or cease to be up-to-date.

In addition, during today's call, we will discuss non-GAAP financial measures. These non-GAAP financial measures should be taken in consideration, in addition to, but not as a substitute for or in isolation from, our GAAP results. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP results, in our earnings press release and in the related powerpoint presentation, which can be found on the Investor Relations page on our website. Unless otherwise indicated, all references to financial measures are on a non-GAAP basis.

With that, let me hand it over to Aaron.

Aaron Levie

Thanks Stephanie and thanks everyone for joining the call. The second quarter was another strong performance for Box. We delivered year-over-year revenue growth of 28% and grew billings 31%. Our new investments this year in sales and marketing started to yield results as we generated our largest amount of pipeline to-date for a single quarter in Q2. These results demonstrate the significant need for cloud content management in all industries,