Box grows 8% to $1.18B on AI products, stronger retention; $48M tax benefit from R&D credits

Filed March 9, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 10, 2025 · ~1 min read

Key Changes

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  Revenue grew 8% to $1.18B (vs. 5% prior year); net retention improved to 104% from 102%; backlog jumped 23% to $1.06B driven by Suite conversions and longer contract terms.

  MD&A: Revenue & Retention verify on EDGAR →
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  Launched Box Shield Pro (AI-powered security), Box Archive (long-term storage), and Box Extract (metadata extraction); added API and AI unit pricing; achieved FedRAMP High certification.

  Business: Product Portfolio verify on EDGAR →
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  Recognized $48.4M tax benefit from adjusting federal R&D credit carryforwards and releasing uncertain tax position reserves; OBBBA law enacted July 2025 allows immediate R&D expensing.

  Notes: Income Taxes verify on EDGAR →