BOX INC
For the period ended Jan 31, 2024. Filed Mar 11, 2024.
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FY2024 · Filed Mar 11, 2024
BOX$42.55+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| Year Ended January 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $129,032 | $26,783 | $(41,459) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 51,241 | 65,988 | 78,234 |
| Stock-based compensation expense | 198,783 | 185,632 | 178,974 |
| Amortization of deferred commissions | 54,227 | 53,522 | 45,866 |
| Deferred income taxes | (75,292) | 1,647 | (1,910) |
| Other | 2,478 | 2,312 | 2,934 |
| Changes in operating assets and liabilities | |||
| Accounts receivable, net | (21,876) | (8,931) | (27,224) |
| Deferred commissions | (44,482) | (54,987) | (59,240) |
| Operating lease right-of-use assets, net | 35,174 | 40,155 | 41,825 |
| Other assets | 7,256 | (5,710) | (16,495) |
| Accounts payable, accrued expenses and other liabilities | (1,179) | (1,899) | 17,605 |
| Operating lease liabilities | (49,349) | (44,555) | (47,389) |
| Deferred revenue | 32,714 | 38,025 | 63,097 |
| Net cash provided by operating activities | 318,727 | 297,982 | 234,818 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of short-term investments | (169,416) | (102,088) | (170,000) |
| Maturities of short-term investments | 107,950 | 240,000 | — |
| Purchases of property and equipment, net of sale proceeds | (1,843) | (4,433) | (4,702) |
| Capitalized internal-use software costs | (16,561) | (12,064) | (5,785) |
| Acquisitions, net of cash acquired | (2,732) | — | (59,395) |
| Other | (190) | (815) | 514 |
| Net cash (used in) provided by investing activities | (82,792) | 120,600 | (239,368) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Series A convertible preferred stock, net of issuance costs | — | (103) | 485,080 |
| Repurchases of common stock | (177,131) | (274,172) | (561,571) |
| Payments of dividends to preferred stockholders | (14,943) | (15,057) | (9,619) |
| Proceeds from issuance of common stock under employee equity plans | 28,203 | 32,187 | 25,373 |
| Employee payroll taxes paid for net settlement of restricted stock units | (74,651) | (93,910) | (57,383) |
| Principal payments of finance lease liabilities | (30,176) | (40,353) | (50,391) |
| Other | (4,198) | (5,087) | (4,350) |
| Net cash used in financing activities | (272,896) | (396,495) | (172,861) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (7,822) | (9,935) | (1,212) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (44,783) | 12,152 | (178,623) |
| Cash, cash equivalents, and restricted cash, beginning of period (1) | 429,040 | 416,888 | 595,511 |
| Cash, cash equivalents, and restricted cash, end of period (1) | $384,257 | $429,040 | $416,888 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Cash paid for interest | $1,683 | $2,754 | $4,690 |
| Cash paid for income taxes, net of tax refunds | $8,450 | $7,044 | $2,009 |
(1)
Restricted cash is included in other current assets in the consolidated balance sheets for the periods presented.
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