Box thanks enterprise market for healthy earnings

Money financingFile sharing and content management firm Box has released its annual financials demonstrating healthy growth over the fiscal year.

Box’s focus on the enterprise market saw top-line revenues grow 40% year-on-year to $303 million, with the fourth quarter accounting for $85 million, an increase of 36% from the same period 12 months earlier.

“In the fourth quarter, we delivered strong year-over-year revenue growth of 36% and billings growth of 59%,” said Dylan Smith, Box co-founder and CFO. “These top-line results, coupled with our positive cash flow from operations, reflect our progress towards achieving positive free cash flow in the fourth quarter of fiscal year 2017.”

Over the course of 2015, Box grew its strategic partnerships with Microsoft, Salesforce and IBM, as well as launching a number of new products including Box KeySafe. Last month, Box announced three new integrations with Microsoft that enable collaboration across devices and platforms. Box now supports integrations with Microsoft Office Online with real time co-authoring, Office for iOS and

Building on the industry trends of mobility and security, the partnership also saw the company update its mobility offering, Box for Enterprise Mobility Management, with Microsoft Intune.

“Just as sales reps update pitches while in the field, or construction workers share the latest blueprints with their corporate team, employees access, edit and share content from mobile devices every day,” said Chris Yeh SVP, Product at Box in his blog “Box provides a solution that ensures nothing prohibits these new ways of working when a device is stolen or lost, when unsanctioned mobile apps are downloaded, or when a user attempts to access content on a jailbroken device.”

With a continued focus on the enterprise market, Box expects another strong 12 months with revenue estimated to be in the range of $390 million to $394 million, with Q1 accounting for $88 million to $89 million.