Box’s Average Revenue Per User (ARPU) (2017-2021)

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This statistic highlights Box’s Average Revenue Per User (ARPU) Worldwide from 2017 onwards.
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This statistic highlights Box’s Average Revenue Per User (ARPU) Worldwide from 2017 onwards.

Box Inc is an American multinational technology company. The company focuses on file-sharing services and cloud content management for businesses. It uses a Software as a Service (SaaS) cloud-based platform.

Box’s Average Revenue Per User (ARPU) Worldwide

Q1 2020 Q2 2020 Q3 2020 Q4 2020
Average Revenue Per User $9.7 $13.84 $13.02 $21.01
(Actual Figures)
Box’s Average Revenue Per User (ARPU) has increased from $9.7 to $21.01 during the period Q1 2020 to Q4 2020, which was a 116% increase. Similarly, there was an increase of 42% between Q1 2020 and Q2 2020 when the ARPU increased from $9.7 to $13.84. But, between Q2 2020 and Q3 2020 the company witnessed a 5% decrease in its Average Revenue Per User (ARPU), from $13.84 in Q2 2020 to $13.02 in Q3 2020. Between Q3 2020 and Q4 2020, the company witnessed the highest ARPU growth rate among all quarters of 61%, from $13.02 to $21.01.
The COVID-19 pandemic has forced companies and educational institutions to break away from their traditional methods of functioning and adopt the work-from-home model. This, in turn, has led to a windfall for Information and Communication Technology (ICT) providing companies including those companies providing cloud services. Box Inc appears to have benefitted from this development which is reflected in the increase in its Average Revenue Per User statistic.
Box Inc’s revenue increased from $608.38 million in FY 2019 to $183,561 in FY 2020. The increase in revenue was primarily driven by expansion within its existing customers as they broadened its deployment of product offerings with strong attach rates of add-on products at a higher price per seat. During the three months ended April 30, 2021, the company has experienced strong growth in the Japanese market, driving an increase in revenue from non-U.S. customers. This increase is partly offset by customers partially churning their deployment with Box.

The company’s total revenue is expected to increase further with the acquisition of e-signature startup SignRequest for $55 million in  February 2021. Also, the company announced the general availability of a new integration with ServiceNow’s Legal Service Delivery application to modernize legal operations. This new integration benefits customers by bringing together ServiceNow’s advanced workflows expertise to minimize manual processes while ensuring confidential legal content is secured on Box’s Content Cloud.

Company Overview

Box Inc is a public limited company founded by Dylan Smith and Aaron Levie, in 2005. It is headquartered in Red City, California. As of 2021, the number of employees of the company worldwide was 1,850. The stocks of Box Inc are listed on the New York Stock Exchange under the ticker symbol “BOX”. Box Inc’s key managerial persons are Aaron Levie (Chairman and CEO), Ben Kus (CTO), Dylan Smith (CFO), and Stephanie Carullo (COO). The competitors of Box are Dropbox, Google Drive, Microsoft OneDrive for Business, Apple iCloud, Egnyte, Citrix ShareFile, Hightail, and Dropbox Business.

Box Inc made its first acquisition in October 2009, buying Increo Solutions for its document collaboration and preview technology. As of December 2013, eight investors invested $100 million in Box Inc through a Series F funding round. The list of investors included DFJ Growth, Itochu Technology Ventures, Macnica Networks Corp., Mitsui & Co, Telefónica Digital, Telstra, and Telstra Ventures. The company, in November 2014, acquired two-man medical-imaging software startup MedXT for $3.84 million. As of February 2015, Box Inc acquired a cloud management service company Airpost. Box’s Inc clients include GE, IBM, Procter & Gamble, and Schneider Electric. On January 23, 2015, Box held its initial public offering on the NYSE. The IPO raised $175 million and established a market capitalization of about $1.6 billion. In 2018, the company acquired an enterprise search company Butter.ai.

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