Note that in Q3 of last year, operating margin included a 70 basis point benefit from data center equipment sales. As a reminder, this year our annual customer conference, BoxWorks, has moved from Q4 to Q3. This shifts approximately 3 million in expenses into Q3, representing an additional 100 basis point headwinds to operating margin when comparing to the year-ago period.

Aug 26, 2025 / receipt, needs a key / Dylan Smith, CFO | earnings call 2025-08-26 | transcript 3ffcbb10-5235-4663-af61-7709c34fe4af | chars 20747-21122 | segment 20

Our rigorous approach to expense management, coupled with gross margin expansion, continues to generate additional leverage in our operating model.

Aug 27, 2024 / receipt, needs a key / Dylan Smith, CFO | earnings call 2024-08-27 | transcript 10ef16de-f737-46e5-8ded-375942cc7e39 | chars 18831-18978 | segment 18

We also expect to incur incremental facilities, T&E, and events expenses as pandemic restrictions loosen and as we return to a hybrid office-based environment.

Mar 2, 2022 / receipt, needs a key / Dylan, CFO | earnings call 2022-03-02 | transcript 1288b5ed-62de-45aa-85fb-d97ab42304a0 | chars 22570-22729 | segment 21

And then on the FY23 operating margin target of 22, like on the surface, it doesn't actually show the OPEX leverage because of the strong gross margin expansion, but then you talked about the FX impact travel and expenses coming back. I assume there's some wage inflation increases. You talked about sales and marketing investments. So is there any additional context or quantification of some of those factors that are impacting some of the different OPEX lines? Just any other color would be helpful. Thanks.

Mar 2, 2022 / receipt, needs a key / Dylan, CFO | earnings call 2022-03-02 | transcript 1288b5ed-62de-45aa-85fb-d97ab42304a0 | chars 48059-48569 | segment 48

So on that, I think you nailed the dynamics exactly. And to break those apart, on the FX side of things, expect that to be a roughly one percentage point impact to operating margin next year. And that really shows up across all line items of the P&L. So kind of understates the true leverage that we're driving in the business. And then in terms of some of those expenses like T&E events, facilities, would say that the savings that we realized as we moved into this environment was in the 200 to 300 basis point range. We expect some of that to come back, but not all of it because of the continued focus that we have on cost discipline.

Mar 2, 2022 / receipt, needs a key / Dylan, CFO | earnings call 2022-03-02 | transcript 1288b5ed-62de-45aa-85fb-d97ab42304a0 | chars 48576-49214 | segment 48

Yeah, so I would say that, you know, certainly for the coming year, the current year, based on the timing of when we expect to return to offices and just some of the other dynamics of COVID kind of gradually abating, we expect to stay at the kind of levels we've seen over the last few quarters for the first half of the year. Going forward, once we do return to an office-based environment, As mentioned, do expect some of these expenses to return. But I think based on some of the success and ways that we've been able to move certain types of conversations, demand generation, things we might have needed to travel for, have customer basic events for online, even steady state, we do expect that to be more efficient.

Mar 2, 2021 / receipt, needs a key / Dylan, CEO | earnings call 2021-03-02 | transcript d34b9b91-2856-4008-9393-afb6e7408fa1 | chars 46682-47402 | segment 47

So those are really where we're getting more of the growth from and obviously seeing, you know, less demand on a relative basis. And, you know, some consumer sectors, obviously, you know, almost nothing in hospitality, travel, et cetera.

Dec 1, 2020 / receipt, needs a key / Aaron, CEO | earnings call 2020-12-01 | transcript 79c14077-0563-455c-8c77-5ae8541817b7 | chars 31306-31543 | segment 31

Seat expansion and Enterprise Advanced momentum driving improved net retention rate

ir_statement / Sep 17, 2026 / receipt

Delivering leverage through margin expansion

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Investing strategically in innovation and GTM to drive long-term profitable growth

ir_statement / Sep 17, 2026 / receipt

Driving double-digit growth and significant margin expansion

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Enterprise Advanced momentum unlocking additional seat expansion and price per seat uplift

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Cost discipline funding investments to fuel strategic growth initiatives

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Enhanced AI capabilities driving customer expansion and product stickiness

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Enterprise Advanced and AI, supported by our partner ecosystem, fueling growth in seats, price per seat, and platform consumption

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Drive a ~25% CAGR of partner-touched revenue by curating high-quality relationships with key SIs, ISVs, and Marketplaces

ir_statement / Sep 17, 2026 / receipt

Increase both price per seat and net seat growth by 5-6% annually as customers adopt new high-value AI capabilities

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Increase platform revenue at a ~30% CAGR as we disrupt vertical LOB applications and legacy ECM markets with AI-powered workflows

ir_statement / Sep 17, 2026 / receipt

Expanding seat penetration by unlocking powerful new use cases

ir_statement / Sep 17, 2026 / receipt