Box Inc (NYSE: BOX) is a cloud content management company that provides a SaaS platform for organizations to store, manage, share, and secure unstructured data across the full content lifecycle. Revenue comes almost entirely from subscription fees, recognized ratably over contract terms, with billings of $1.22 billion for the year ended January 31, 2026, up 10% year over year. Box serves over 100,000 paying organizations as of January 31, 2026, competing directly against Microsoft SharePoint, Microsoft OneDrive, Google Drive, OpenText Documentum, and Dropbox. The platform is offered in 25 languages and targets enterprise IT buyers with use cases spanning secure collaboration, e-signature, workflow automation, content governance, and AI-assisted document interaction. Net retention rate was approximately 104% as of January 31, 2026, up from 102% as of January 31, 2025, reflecting modest expansion within the existing customer base. Research and development expenses were $294.5 million for the year ended January 31, 2026.

Revenue model

Subscription fees under multi-seat, term-based contracts, recognized ratably over the contract period. Customers expand usage through additional seats and conversion to multi-product Suites. Box also offers Box Platform as a PaaS product for developers building custom content applications via API.

Products and services

Box Intelligent Content Management (ICM) platform, including: Box Drive (desktop sync), Box Mobile (iOS, Android, Apple Vision Pro), Box AI (document Q&A and content intelligence powered by Azure OpenAI, Google Vertex AI, Anthropic Claude, and Amazon Titan via Bedrock), Box Sign (e-signature), Box Relay (workflow automation), Box Shield (security and governance), and Box Platform (PaaS/API layer for custom application development).

Customers and end markets

Over 100,000 paying organizations as of January 31, 2026, including enterprises, government institutions, and educational organizations. Customers purchase via individual team deployments, targeted IT-sponsored enterprise agreements, organization-wide seat agreements, or Box Platform licenses. No individual customer concentration disclosed in the excerpts.

Value-chain role

SaaS platform provider sitting between enterprise end users and underlying cloud infrastructure. Box manages the content layer, handling security, compliance, access control, and AI-assisted content workflows, while integrating with third-party applications through open APIs.

Geographic exposure

Platform offered in 25 languages as of January 31, 2026. Billings growth was favorably impacted by approximately 170 basis points from foreign currency exchange rate fluctuations for the year ended January 31, 2026. Specific revenue breakdown by geography not provided in the excerpts.

Competitors

Microsoft (SharePoint), Microsoft (OneDrive), Google (Drive), OpenText (Documentum), Dropbox

Source: SEC 10-K, filed 2026-03-09

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