Box reported Q1 revenue of $305.9 million but saw shares fall after CEO Aaron Levie predicted AI agents will transform enterprise workflows.
Box Inc (BOX) shares declined roughly 4% after the company reported first-quarter results. Revenue grew 11% year over year to $305.9 million, while net retention improved to 105% from 102%. The gains were driven by Enterprise Advanced, Box’s premium AI and automation suite, which contributed to the majority of $100,000-plus deals.
CEO Aaron Levie used the earnings call to outline a vision where AI agents outnumber human workers, reshaping enterprise data and workflow management. The shift reflects broader industry trends moving from chatbots to fully automated digital workforces. Box is positioning itself as the secure content layer for this “agentic enterprise.”