Box Inc (NYSE: BOX) stock fell over 7.3% after the company issued a conservative second-quarter revenue forecast, though posted better than expected results for the first quarter of 2018. BOX expects second-quarter revenue to be in the range of $146 million and $147 million. Analysts on average were expecting $146.1 million, according to Thomson Reuters. Box expects to report a loss for the second quarter of 5 to 6 cents per share, excluding certain items, while the analysts expects to report a loss for the year of 7 cents per share, excluding certain items. Further, Box expects to report a loss for the year of 16 to 19 cents per share, excluding certain items, on $603 to 608 million in revenue. The analysts had expected a loss of 19 cents per share on $605.7 million in revenue, according to Thomson Reuters.

Meanwhile, Box competes with Dropbox Inc, Microsoft Corp’s OneDrive and Google’s Drive. Dropbox had beaten expectations for quarterly results and topped estimates for paying subscribers in its first financial report posted earlier this month.

BOX in the first quarter of FY 18 has reported the adjusted loss per share of 7 cents, beating the analysts’ estimates for the adjusted loss per share of 8 cents. The company had reported the adjusted revenue growth of 20 percent to $140.5 million in the first quarter of FY 18, beating the analysts’ estimates for revenue of $139.7 million. The company’s billings revenue in the first quarter has totaled $116.7 million, above the FactSet analyst estimate of $113.1 million. BOX’s software had 59.9 million registered users and 10.4 million of them paying for it.

Furthermore, in the first quarter, BOX has added 3,000 paying business customers, for a total of 85,000. Box said Dubai Airports and Komatsu were adopting its software. The enactment of the General Data Protection Regulation, or GDPR, is “helping at a macro level”. The company has also spent 9 percent more from last year to attract them. BOX is also investing in cyber security, compliance and administrative technology and plans to add more sales personnel as it expands in markets such as Germany, Australia and Canada.

Additionally, Box said former Hewlett Packard Enterprise sales and marketing executive Sue Barsamian is joining its company’s board. Last quarter, Levie said BOX was changing its sales compensation system to focus more on getting customers to adopt multiple products.