Box Inc (NYSE:BOX) stock rose 8.12% (As on August 28, 11:52:19 AM UTC-4, Source: Google Finance) after the company delivered second-quarter financial results that surpassed estimates and it raised its full-year forecast. Box delivered net income of $20.5 million in the quarter, up from $10.8 million one year ago. Recently, Box announced it had acquired a startup called Alphamoon that offers intelligent document processing tools in order to boost its AI capabilities. Alphamoon’s technology helps to extract metadata from documents by running them through powerful AI algorithms, so as to make them more searchable and accessible. It also boasts optical recognition technology, which makes it possible to scan paper documents and quickly make them digital. This will enable Box to help its customers get boxes of paper-based documentation online, so the information within them can then be leveraged by AI.

BOX in the second quarter of FY 25 has reported the adjusted earnings per share of 44 cents, beating the analysts’ estimates for the adjusted earnings per share of 40 cents. The company had reported the adjusted revenue growth of 3 percent to $270 million in the second quarter of FY 25, beating the analysts’ estimates for revenue of $269.5 million. Remaining performance obligations (RPO) increased by 12% year-over-year to $1.272 billion. Billings for the quarter were $256.4 million, a 10% increase from the previous year. The non-GAAP gross profit was $220.2 million, or 81.6% of revenue. Net cash provided by operating activities was $36.3 million, an 11% increase year-over-year. Non-GAAP free cash flow was $32.7 million, a 59% increase from the previous year.

Additionally, Box has announced a $100 million expansion of its stock repurchase program, reflecting its commitment to returning capital to shareholders.

The company said it’s now forecasting total revenue of $1.086 billion and $1.09 billion, just ahead of the $1.08 billion analyst outlook. The increased guidance is partly thanks to the weakening of the U.S. dollar versus the Japanese yen. He explained that around a third of Box’s revenue comes from customers outside of the U.S., and that 60% of those are based in Japan. Previously, Box had guided for full-year revenue of between $1.075 billion and $1.08 billion. For the current quarter, Box said it’s eyeing earnings of 41 to 42 cents per share on revenue of between $274 million and $276 million. Wall Street is looking for earnings of 40 cents per share on lower sales of $217.6 million.