BOX INC

For the period ended Jan 31, 2025. Filed Mar 10, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 10, 2025

BOX$42.55+2.2%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEM ENTS OF CASH FLOWS

	Year Ended January 31,
	2025	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$244,621	$129,032	$26,783
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	22,103	51,241	65,988
Stock-based compensation expense	219,003	198,783	185,632
Amortization of deferred commissions	52,561	54,227	53,522
Deferred income taxes	(171,225)	(75,292)	1,647
Induced conversion expense	10,139	—	—
Other	(2,101)	2,478	2,312
Changes in operating assets and liabilities
Accounts receivable, net	(14,478)	(21,876)	(8,931)
Deferred commissions	(52,333)	(44,482)	(54,987)
Operating lease right-of-use assets, net	23,279	35,174	40,155
Other assets	(5,386)	7,256	(5,710)
Accounts payable, accrued expenses and other liabilities	6,391	(1,179)	(1,899)
Operating lease liabilities	(28,062)	(49,349)	(44,555)
Deferred revenue	27,745	32,714	38,025
Net cash provided by operating activities	332,257	318,727	297,982
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short-term investments	(121,338)	(169,416)	(102,088)
Maturities of short-term investments	119,896	107,950	240,000
Sales of short-term investments	3,567	—	—
Purchases of property and equipment	(2,573)	(4,703)	(5,034)
Proceeds from sales of property and equipment	8,395	2,860	601
Capitalized internal-use software costs	(27,633)	(16,561)	(12,064)
Other	(3,525)	(2,922)	(815)
Net cash (used in) provided by investing activities	(23,211)	(82,792)	120,600
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of convertible notes, net of issuance costs	447,795	—	—
Partial repurchase of convertible notes	(191,713)	—	—
Purchase of capped calls related to convertible notes	(52,486)	—	—
Settlement of capped calls related to convertible notes	30,313	—	—
Principal payments on borrowings	(30,000)	—	—
Repurchases of common stock	(211,060)	(177,131)	(274,172)
Payments of dividends to preferred stockholders	(15,000)	(14,943)	(15,057)
Proceeds from exercise of stock options	19,050	1,343	7,729
Proceeds from issuances of common stock under employee stock purchase plan	25,910	26,860	24,458
Employee payroll taxes paid for net settlement of stock awards	(79,256)	(74,651)	(93,910)
Principal payments of finance lease liabilities	(2,141)	(30,176)	(40,353)
Other	(3,774)	(4,198)	(5,190)
Net cash used in financing activities	(62,362)	(272,896)	(396,495)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(4,831)	(7,822)	(9,935)
Net increase (decrease) in cash, cash equivalents, and restricted cash	241,853	(44,783)	12,152
Cash, cash equivalents, and restricted cash, beginning of period(1)	384,257	429,040	416,888
Cash, cash equivalents, and restricted cash, end of period(1)	$626,110	$384,257	$429,040
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes, net of tax refunds	$13,648	$8,450	$7,044

(1)

Restricted cash is included in other current assets in the consolidated balance sheets for the periods presented.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.