FollowBox Inc. plunged in mid-morning trade Thursday after the enterprise software firm reported late Wednesday Q4 earning that trailed analyst projections by a wide margin despite better-than-expected quarterly revenue. BOX shares are now down 15.3% at $17.39, at the lower end of the 52-week range of $16.41 – $24.73.
GAAP net loss during the three months ended Jan 31 was $52.9 million, or $2.64 per share, compared to $43.5 million or $3.46 a year ago. The per share result narrowed because of a higher share count.
Excluding one-time items, its non-GAAP operating loss was $1.65 per share compared to a loss of $2.85 a year ago but trailing the Capital IQ consensus of a loss of $1.28 per share.
Revenue grew 61% over year-ago levels to $62.6 million, topping analyst estimates by around $4.61 million.
For the current quarter ending next month, the company is projecting revenue in a range of $63 million to $64 million, beating Wall Street expectations of $61.8 million. For the full fiscal year ending next January, it sees revenue rising to $281 million to $285 million, exceeding the analyst consensus of around $276.9 million.
