Posted on Thursday, Apr 22nd 2021
With the global lockdown conditions continuing, the global content and collaboration services player Box (NYSE: BOX) is delivering strong performance. It recently also announced several product upgrades and acquired a digital signature technology firm to announce its foray into the digital signature market.
Box’s fourth-quarter revenues grew 8% to $198.9 million, ahead of the market’s expectations of $196.57 million. On an adjusted basis, EPS was $0.22, ahead of the market’s forecast of an EPS of $0.17.
For the fiscal year, revenues grew 11% to $770.8 million and EPS was $0.70.
Box expects to end the first quarter with revenues of $200-$201 million with a loss per share of $0.06-$0.05. For the current year, Box expects revenues of $840-$848 million with a loss per share of $0.25-$0.20. The market expects revenues of $844.87 million with an EPS of $0.80 for the year and revenues of $200.48 million and an EPS of $0.17 for the first quarter.
Box’s Product Upgrades
Box recently introduced Box Shuttle, an easier, faster, and less costly solution to migrate content, permissions, and metadata to the Box Content Cloud. Box Shuttle will allow customers to get access to content management experts for strategy and execution, change management processes to drive adoption, and technology to accelerate digital transformation. It is
now the lowest-cost full-service content migration program in the cloud content management market.
Earlier this year, Box announced a new product offering that will seamlessly integrate Google Workspace. Google Cloud and Box are working together to now provide interoperability between Google Workspace and Box so that users can see seamless collaboration and productivity for thousands across their joint customers.
Box for Google Workspace Essentials enables organizations to purchase Google Workspace collaboration and communication solutions to work specifically with Box so that users can access their Google Docs, Sheets, and Slides in Box. Organizations will be able to leverage the benefit of Google’s productivity tools along with Box’s security and compliance capabilities. Box’s SignRequest Acquisition
Recently, Box announced its acquisition of the Netherlands-based, SignRequest for $55 million. Founded in 2014 by Geert Jan Persoon, Michaël Krens, and Nick Dessens, SignRequest helps customers sign documents on their online platform. Box also previewed its e-signature capability Box Sign, which has been developed on SignRequest’s technology. Box Sign will be included in Box’s business and enterprise plans and is natively embedded in a cloud content management platform. It will allow customers to modernize the way they work by digitizing processes that are important, while also ensuring that their agreements are securely managed and governed in its content cloud.
According to a Fortune Business Insights report, the
global digital signature market is estimated to grow at 29% CAGR to reach $8 billion by 2027. The market is dominated by players like DocuSign and Adobe. Box plans to address this market with its latest acquisition. Box itself believes that the digital signature market will grow to more than $20 billion in the years to come as more companies globally will adopt the solution for multiple users. It expects improved security features to become more important to ensure compliance with regulations like HIPPA for health-care applications and FINRA for financial transactions. As of now, Box does not plan to compete with DocuSign and Adobe, and will continue to offer integrations with these vendors for document signatures. Instead, it believes its digital signature strategy needs to focus on bringing “ e-signature to the masses.“
Its stock is currently trading at $22 with a market capitalization of $3.52 billion. It touched a 52-week high of $26.47 in March and a 52-week low of $14.90 in April last year.
Disclosure: All investors should make their own assessments based on their own research, informed interpretations, and risk appetite. This article expresses my own opinions based on my own research of product-market fit, channel execution, and other factors. My primary interest is in product strategy. While this may have bearing on stock movements, my writings tend to focus on long-term implications. The information presented is illustrative and educational, but should not be regarded as a complete analysis nor recommendation to buy or sell the securities mentioned herein. I am not a registered investment adviser and I am not receiving compensation for this article. This segment is a part in the series : Cloud Stocks . Smartsheet Acquiring Bootstrapped Startups to Drive Growth . Bootstrapped Unicorn Atlassian is Acquiring Capital Efficient Startups . Netflix Price Hike Ruffles Competition . How Will Carbon Black Differentiate? . 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Microsoft Teams Lags Far Behind Zoom . Analysis of ServiceNow's Gekkobrain Acquisition . Google Attempts to Gain Ground in Cloud and AI . Atlassian Expands Beyond IT Offerings . Amazon Addresses Margin Pressures Through Product Upgrades . Twilio Leverages Segment Platform for Product Expansion . Shopify Expands PaaS Integrations . Analysis of Zendesk's $4.1B Momentive Acquisition . HubSpot Becomes a Stickier Platform . Analysis of Alteryx's Acquisitions . Wix Focuses on Fitness Services Providers . Pure Storage Partners with Microsoft Azure to Address Chip Shortage Concerns . Analysis of Salesforce's LevelJump Acquisition . Qualys Expands Solutions to Address Ransomware . Veeva Eyes Data Cloud . Splunk Expands Partner Capabilities . Coupa Continues to Build on its PaaS . MongoDB Focuses on Winning Government Contracts . DocuSign Targets $50B Market Opportunity in Agreement Cloud . Smartsheet Focuses on PaaS Growth . 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Okta's Widening Losses Worry Investors, But Growth Metrics Remain Strong . Nutanix Plans to Take on VMWare . Newly Public HashiCorp Focuses on a $73B Infrastructure-as-a-Code Market . Coupa Focuses on Key Products to Restart Decelerating Performance . Smartsheet's Product Line-up Fails to Accelerate Growth . DocuSign Targets a $50 Billion Market Opportunity . Pure Storage Takes on Dell in Top Tier Storage Market . Analysis of PagerDuty's Catalytic Acquisition . Splunk Impresses with Enterprise Customer Growth . Analysis of Qualtrics's Acquisition of SurveyVitals . Analysis of DigitalOcean's Nimbella Acquisition . Squarespace Eyes Video Offerings for SMBs . MongoDB is Leveraging Alliance with Amazon for Growth . Rapid7's Cross-Sell Capabilities Deliver Results . CrowdStrike Expands Partnerships to Address Cyber Attack Fears . Upstart Focuses on the Automobile Market for Growth . Zoom Adds Contact Center Capabilities to Enhance its UCaaS Stack . Tuya Struggles Amid Macro Economic Conditions . Analysis of Fastly's Fanout Acquisition . Analysis of BlackLine's FourQ Systems Acquisition . Analysis of IBM's Neudesic Acquisition . Analysis of Snowflake's Streamlit Acquisition . Google's Acquisition of Mandiant Fuels its Cloud Strategy . Microsoft Expands its Healthcare Cloud Offerings . Amazon Battles Margin Pressures . Atlassian Faces Stiff Competition . GoDaddy Targets a $126B TAM Opportunity . Bill.com Builds Value Added Services to Expand Wallet Share . Analysis of ON24's VIBBIO Acquisition . Twilio's Growth is Driven by Segment . Freshworks' Bots Make Customer Interactions Easier . Who Will Buy Zendesk? . Analysis of Shopify's Deliverr Acquisition . Wix Focuses on Profitability Amid Mounting Losses . Dynatrace Targets $50B Addressable Market . Analysis of Salesforce's Troop.Ai Acquisition . Analysis of Workday's VNDLY Acquisition . Nutanix Stumbles on Supply Chain Issues . Veeva Targets $13 Billion TAM . RingCentral Maintains UCaaS Leadership Through Partnerships and Innovation . Okta Bounces Back Stronger Despite Security Event . Adobe Strengthens its Creative Cloud Portfolio and Gets Ready for the Metaverse . Analysis of Zoom's Acquisition of Solvvy . Smartsheet Expands its Capabilities for Marketers . Toast Addresses Changing Restaurant Industry Dynamics . UiPath Simplifies Intelligent Automation . Informatica Focuses on Vertical Specific Offerings for Growth . Samsara Expands Farm-Focused Vertical Offerings . ForgeRock Leverages AI for Growth . Marqeta Struggles, Tries to Recover Through an API Strategy . Confluent Expands Ecosystem with Microsoft and AWS . Couchbase Focuses on Improving Efficiencies for Developers . Sprinklr's Deepening Integrations with TikTok and Amazon . Analysis of IBM's Randori Acquisition . Expensify Tests Other Services for Growth . monday.com Builds Capabilities for its App Marketplace . Snowflake Leverages the Streamlit Acquisition . Google Hones its Search Tech . Microsoft's Momentum in Commercial and Cloud Keeps it Steady . Amazon's Twin Engines of AWS and Prime Make it Resilient . Analysis of ServiceNow’s Hitch Works Acquisition . Twilio’s Strategy Post Segment Acquisition . HubSpot's Marketplace Strategy Continues to Thrive . Analysis of GoDaddy's Dan.com Acquisition . Freshworks Looks to Freshchat for Product Portfolio Expansion . Zendesk Agrees to be Bought Out . Tenable Provides Visibility into Internet-based Assets . Qualys Leverages Partner Network to Drive Go-to-Market Agenda . Bill.com Banks on its Organic Flywheel Amid Economic Turbulence . ON24 Targets $44 Billion Addressable Market . Palo Alto Network's Transformation Strategy Delivers Results . Atlassian’s Ecosystem Strategy Keeps it Steady . Okta Struggles with Auth0 Integration . Salesforce Targets Vertical Focused Offerings to Battle Economic Conditions . Workday Grows Strong Despite Recession . Nutanix's Subscription Model Delivers Results . Veeva Believes R&D Segment Will Deliver under Economic Uncertainty . RingCentral Focuses on Hardware Integration . MongoDB Addresses Economic Concerns Through Product Upgrades . Rapid7 Focuses on Simplifying View for Security Teams . Analysis of Smartsheet's Outfit Acquisition . HashiCorp Struggles to Maintain DecaCorn Valuation Amid Stock Conditions . Coupa Helps Maximize Savings Efficiency to Tackle Global Economic Conditions . DocuSign Focuses on Integrations