The software manufacturer Box rose in price after the report

This week, the provider of cloud storage and data exchange services Box Inc. (BOX), presented the results of the third quarter of the 2022 fiscal year, which became the driver of the stock growth. At the auction on December 6, the 

BOX stock was worth $26.18. In recent years, the Box business has evolved from a cloud data storage service to a set of tools for collaboration, data exchange, cybersecurity, and business process optimization. In addition, successful market conditions allow Box to increase its software sales. 

The digital transformation taking place worldwide, the increasing demand for cybersecurity solutions, and the spread of remote work are all positive factors. As a result, more and more customers are turning to Box solutions to ensure secure content management and collaboration. 

Box’s revenue grew by 14% year-on-year in the third quarter, to $224 million. Deferred revenue increased by 21% to $429 million, and the indicator, which includes sales to new and existing customers and subscription renewals, jumped by 25% to $231 million. 

Adjusted gross and operating margins increased to 75% and 21%, respectively, compared to 73% and 18% in the same quarter a year earlier. Adjusted earnings per share increased by 10% to $0.22, and free cash flow increased by 19% to $31.2 million. Box management also raised its forecast for the entire 2022 fiscal year and now expects revenue growth of 13% year-on-year, to $868-870 million. 

The adjusted operating margin was approximately 20% and adjusted earnings per share range from $0.83 to $0.84. In addition, increased cash flow generation and cash balance allow Box to increase the repurchase program by $200 million.