BOX INC Earnings Per Share Disclosure
Note 12. Net Income per Share Attributable to Common Stockholders
The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except per share amounts):
|
|
Year Ended January 31, |
|
|||||||||
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
|||
Numerator: |
|
|
|
|
|
|
|
|
|
|||
Net income |
|
$ |
115,383 |
|
|
$ |
244,621 |
|
|
$ |
129,032 |
|
Accretion and dividend on series A convertible preferred stock |
|
|
(17,138 |
) |
|
|
(17,143 |
) |
|
|
(17,105 |
) |
Undistributed earnings attributable to preferred stockholders |
|
|
(11,192 |
) |
|
|
(25,911 |
) |
|
|
(12,780 |
) |
Net income attributable to common stockholders, basic and diluted |
|
$ |
87,053 |
|
|
$ |
201,567 |
|
|
$ |
99,147 |
|
|
|
|
|
|
|
|
|
|
|
|||
Denominator: |
|
|
|
|
|
|
|
|
|
|||
Weighted-average number of shares used to compute net income per share attributable to common stockholders, basic |
|
|
144,195 |
|
|
|
144,228 |
|
|
|
144,203 |
|
Dilutive effect of awards issued under employee equity plans |
|
|
3,460 |
|
|
|
3,434 |
|
|
|
3,549 |
|
Dilutive effect of shares related to the convertible senior notes |
|
|
1,500 |
|
|
|
981 |
|
|
|
834 |
|
Weighted-average number of shares used to compute net income per share attributable to common stockholders, diluted |
|
|
149,155 |
|
|
|
148,643 |
|
|
|
148,586 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income per share attributable to common stockholders, basic |
|
$ |
0.60 |
|
|
$ |
1.40 |
|
|
$ |
0.69 |
|
Net income per share attributable to common stockholders, diluted |
|
$ |
0.58 |
|
|
$ |
1.36 |
|
|
$ |
0.67 |
|
The dilutive effect was computed using the if-converted method for convertible instruments and the treasury stock method for all other potential common shares.
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because the impact of including them would have been antidilutive (in thousands):
|
|
Year Ended January 31, |
|
|||||||||
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
|||
Options to purchase common stock |
|
|
— |
|
|
|
— |
|
|
|
7 |
|
Restricted stock units |
|
|
210 |
|
|
|
3 |
|
|
|
57 |
|
Employee stock purchase plan |
|
|
— |
|
|
|
107 |
|
|
|
664 |
|
Shares related to convertible preferred stock |
|
|
18,566 |
|
|
|
18,540 |
|
|
|
18,587 |
|
Shares related to the convertible senior notes |
|
|
— |
|
|
|
227 |
|
|
|
— |
|
Total |
|
|
18,776 |
|
|
|
18,877 |
|
|
|
19,315 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 9, 2026 | Showing above |
| 2025 | Mar 10, 2025 | |
| 2024 | Mar 11, 2024 | |
| 2023 | Mar 13, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.