Still mum on IPO

Box updates its S-1 filing with more revenue, less loss

Box updated its S-1 filing on Wednesday to reflect its most recent financials for the third quarter of its fiscal year, which ends on January 31, 2015.

Box has grown its revenue since last year with the company taking in $153.8 million compared to last year’s $85.4 million for the nine-month period ending October 31. Its net loss went down from $125.2 million to $121.5 million during that same time frame as well.

The startup is still spending a lot on sales and marketing with the company taking in $152.4 million compared to last year’s $124.1 million.

While the numbers are better than they used to be, Box is still being quiet when it comes to going public.

A Box spokesperson wrote to Gigaom: “Our plan continues to be to go public when it makes the most sense for Box and the market. As always, investing in our customers, technology, and future growth remains our top priority.”

Here’s a look at some of its numbers:
Screen Shot 2014-12-10 at 3.36.31 PM

The company claims that it now has 32 million registered users, which is up from March’s S-1 filing that logged in 25 million registered users. It’s also now saying it has 44,000 paying organizations as opposed to the 34,000 paying organizations it said it had in March.

In November, Box CEO and co-founder Aaron Levie told Bloomberg Television that the company “should not have filed when we did.”

Listen to Levie’s thoughts on competition in the cloud space and the API economy on an August episode of the Structure Show:

Story developing

One Response to “Box updates its S-1 filing with more revenue, less loss”