Box, Inc. (NYSE:BOX) Q3 2020 Earnings Conference Call - Final Transcript

Nov 26, 2019 • 05:00 pm ET


Box, Inc. (NYSE:BOX) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. And welcome to the Box, Inc. Third Quarter Fiscal 2020 Financial Results Conference Call. [Operator Instructions]. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Ms. Alice Lopatto, Head of Investor Relations. Thank you. Please go ahead.

Alice Lopatto

Good afternoon. Welcome to Box's third quarter fiscal 2020 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 webcast and will also be available for replay on our Investor Relations website at Our webcast will be audio-only. However, supplemental slides are now available for download on our website. We'll 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 Q4 and FY '20 financial guidance and our expectations regarding our financial performance for fiscal 2020 and future periods, our timing of and market adoption of our products, our markets and market size, our operating leverage, our expectations regarding maintaining positive free cash flow, growth margins, future profitability and unrecognized revenue and remaining performance obligations, our planned investments and growth strategies, our ability to achieve our long term revenue and other operating model targets and expected timing and benefits of our new products, pricing and partnerships.

These statements reflect our best judgment based on factors currently known to us and actual events or results may differ materially. Please refer to the press release and the risk factors in documents we file with the Securities and Exchange Commission, including our most recent quarterly report on Form 10-Q, for information on risks and uncertainties that may cause actual results to differ materially. These forward-looking statements are being made as of today, November 26th, 2019, 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 considered in addition to 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 of our website. Unless otherwise indicated, all references to financial measures are on non-GAAP basis.

With that, let me hand it over to Aaron.

Aaron Levie

Thanks, Alice. And thanks everyone for joining the call today. Q3 was an exciting quarter for us as we significantly expanded our cloud content management product offering with the release of Box Shield. We hosted our 9th Annual Customer Conference, BoxWorks, where we received overwhelming demand for our new products. And this past quarter, we delivered solid financial results. In Q3, we