BOX INC
For the period ended Jan 31, 2026. Filed Mar 9, 2026.
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FY2026 · Filed Mar 9, 2026
BOX$42.55+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| Year Ended January 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $115,383 | $244,621 | $129,032 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 32,908 | 22,103 | 51,241 |
| Stock-based compensation expense | 233,716 | 219,003 | 198,783 |
| Amortization of deferred commissions | 53,343 | 52,561 | 54,227 |
| Deferred income taxes | (31,544) | (171,225) | (75,292) |
| Induced conversion expense | — | 10,139 | — |
| Other | (5,551) | (2,101) | 2,478 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (31,215) | (14,478) | (21,876) |
| Deferred commissions | (56,449) | (52,333) | (44,482) |
| Operating lease right-of-use assets, net | 21,541 | 23,279 | 35,174 |
| Other assets | (3,313) | (5,386) | 7,256 |
| Accounts payable, accrued expenses and other liabilities | 6,805 | 6,391 | (1,179) |
| Operating lease liabilities | (26,111) | (28,062) | (49,349) |
| Deferred revenue | 46,937 | 27,745 | 32,714 |
| Net cash provided by operating activities | 356,450 | 332,257 | 318,727 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of short-term investments | (104,363) | (121,338) | (169,416) |
| Maturities of short-term investments | 102,600 | 119,896 | 107,950 |
| Sales of short-term investments | — | 3,567 | — |
| Purchases of property and equipment | (6,074) | (2,573) | (4,703) |
| Proceeds from sales of property and equipment | 309 | 8,395 | 2,860 |
| Capitalized internal-use software costs | (35,174) | (27,633) | (16,561) |
| Other | — | (3,525) | (2,922) |
| Net cash used in investing activities | (42,702) | (23,211) | (82,792) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from issuance of 2029 Convertible Notes, net of issuance costs | — | 447,795 | — |
| Partial repurchase of 2026 Convertible Notes | — | (191,713) | — |
| Purchase of 2029 Capped Calls | — | (52,486) | — |
| Settlement of 2026 Capped Calls | — | 30,313 | — |
| Principal payments on borrowings | — | (30,000) | — |
| Principal payments upon maturity of 2026 Convertible Notes | (205,000) | — | — |
| Repurchases of common stock | (289,845) | (211,060) | (177,131) |
| Payments of dividends to preferred stockholders | (15,000) | (15,000) | (14,943) |
| Proceeds from exercise of stock options | 1,455 | 19,050 | 1,343 |
| Proceeds from issuances of common stock under employee stock purchase plan | 27,168 | 25,910 | 26,860 |
| Employee payroll taxes paid for net settlement of stock awards | (85,278) | (79,256) | (74,651) |
| Principal payments of finance lease liabilities | — | (2,141) | (30,176) |
| Other | (3,022) | (3,774) | (4,198) |
| Net cash used in financing activities | (569,522) | (62,362) | (272,896) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 6,352 | (4,831) | (7,822) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (249,422) | 241,853 | (44,783) |
| Cash, cash equivalents, and restricted cash, beginning of period(1) | 626,110 | 384,257 | 429,040 |
| Cash, cash equivalents, and restricted cash, end of period(1) | $376,688 | $626,110 | $384,257 |
(1)
Restricted cash is included in other current assets in the consolidated balance sheets for the periods presented.
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