Box, Inc. (BOX) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Unless otherwise indicated, all references to financial measures are made on a non-GAAP basis. Thank you. With that, let me turn the call over to Aaron. Thanks, everyone, for joining us today. Building on the momentum and strong results we delivered in the first half of FY26, third quarter revenue exceeded our guidance, growing 9% year over year and producing operating margins of 28.6%. We drove a net retention rate of 104% ahead of our expectations of 103% driven by both price per seat increases and seat expansion. Our ongoing strategic investments and go to market and products are driving growth reflected in our Q3 billings growth of 12% year over year and RPO growth of 18% year over year. Our strong financial results clearly demonstrate that our intelligent content management platform is building momentum in the market. Just a few weeks ago, I met with dozens of CIOs and IT leaders in New York, and what struck me was how the conversations have evolved over time, where the vast majority of these discussions now focus on new use cases for Box around using AI agents for extracting structured data and insights from documents, using AI agents to automate knowledge worker tasks, or leveraging AI agents to democratize access to expertise across their organizations. The full power of AI agents is delivered when you can begin to augment knowledge worker tasks with infinitely scalable automation. But as companies try to do this, they quickly come to the same conclusion. The key to success is ensuring agents have access to the right data in the right format and can process it effectively and securely at scale. And when trying to solve this problem, most enterprises experience how difficult this can be. Enterprises are understanding that not only do you have to excel at every...