Shareholder letter / filing capturedNo transcript↓ Falling
AI Surface Over Time
A historical globe of Box’s named AI products, capabilities, partnerships, use cases, and executive themes across the latest 4 quarters, with each theme anchored to when it first appeared.
154 normalized themesLatest: Q4 FY2026
Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026Positioned by first-seen quarter
Enterprise Advanced customers already account for 10% of revenue
Evidence snippet
Box Q4 FY2026
Announced the general availability of Box Extract
Evidence snippet
Box Q4 FY2026
revenue and billings above our guidance
Evidence snippet
Box Q4 FY2026
new fleet of next-generation AI agents
Evidence snippet
AI Thesis
Box is actively commercializing AI across its Intelligent Content Management platform. Key product launches include Enterprise Advanced (now representing 10% of revenue), Box Extract (GA), Box Shield Pro (GA), Box AI Studio (with support for Anthropic, Google and OpenAI models), and Box AI Agents (available in ServiceNow Marketplace). The company emphasized developer enablement (documentation site, MCP server, interactive API playground) and multiple ecosystem integrations (Anthropic MCP Apps, Atlassian MCP Gallery, Figma Make, ServiceNow). Financially, Box reported Q4 revenue of $305.9M (+9% YoY), strong non-GAAP gross margin (82.3%) and non-GAAP operating income of $93.7M, with non-GAAP free cash flow of $97.5M. Guidance targets Q1 FY27 revenue of ~$304M and FY27 revenue of ~$1.275B, with non-GAAP EPS guidance of $0.36 (Q1) and $1.55 (FY). Overall tone is bullish driven by product execution and strategic model/marketplace partnerships, with moderate attention to FX and macro risks.
Quarterly Movement
Movement Read
Falling: Box is currently showing weaker or slower AI narrative momentum than the prior quarter.
Momentum currently reads -21.5%.
Evidence Snippets
Executive signal
Enterprise Advanced customers already account for 10% of revenue
Transcript / release tone extraction
Tone evidence
Announced the general availability of Box Extract
Transcript / release tone extraction
Narrative evidence
Enterprise Advanced customers already account for 10% of revenue
Narrative signal extraction
Narrative evidence
general availability of Box Extract
Narrative signal extraction
AI Products
Enterprise Advanced
Box Extract
Box Shield Pro
Box AI Studio
Box AI Agents
Box Connector
Strategic AI Partnerships
Anthropic
Google
OpenAI
Atlassian
Figma
ServiceNow
AI Capabilities
agentic AI
AI-powered chat
advanced search
data extraction
metadata extraction
content insights
intelligent workflow automation
visual interfaces for AI interactions
AI Primitives
generative AI models
Claude Opus
Sonnet
Gemini
GPT-5.2
Major Customers
Enterprise Advanced customers account for 10% of revenue
Box served as an early launch partner supporting Anthropic, Google and OpenAI models in Box AI Studio
Customer Use Cases
metadata extraction from content
AI-powered data extraction in ServiceNow workflows
visual interfaces for conversational AI over enterprise content
integrating Box content into Jira workflows
bringing enterprise content into Figma creative workflows
intelligent workflow automation for enterprise content
Developer Tools
Box developer documentation site
Box developer documentation MCP server
interactive API playground
AI Initiatives
Enterprise Advanced launch
general availability of Box Extract
general availability of Box Shield Pro
Box AI Studio model support
Box AI Agents availability in ServiceNow Marketplace
developer documentation site with AI-powered chat
Management Focus Topics
Enterprise AI monetization
Intelligent Content Management
agentic AI security
developer platform for AI
foundation model integrations
Narrative Risk Signals
foreign exchange headwinds
macroeconomic conditions and IT spending
security vulnerabilities risk
competitive market pressures
Monetization Signals
Enterprise Advanced customers account for 10% of revenue