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