Box Inc reported a solid Q4 2025 with revenue of approximately $279.5 million, up 6% year over year and 8% in constant currency, underscored by robust gross margins and the execution of its AI-driven product strategy. The company launched Enterprise Advanced late in the quarter, signaling a strategic shift toward more expansive, multi-product deals that increasingly embed BoxAI capabilities such as metadata extraction, no-code apps, Box Forms, and DocGen. Management flagged AI as a defining macro trend and positioned Box as an AI-first enterprise platform designed to extract structured data from unstructured content, automate workflows, and accelerate decision-making across the enterprise. For FY2026, Box guided to roughly $1.155–$1.16 billion revenue (about 6% growth), 81% gross margin, ~28% non-GAAP operating margin, and $1.13–$1.17 non-GAAP EPS, reflecting ongoing investments in Box AI, partner ecosystems, and Europe/Japan go-to-market expansion. The balance sheet remains strong with approximately $724 million of cash, access to buybacks (roughly $150 million additional authorization announced), and a net debt position of about $96 million, complemented by sustained free cash flow generation (~$93 million in FY2025). The quarter benefited from a 12% YoY rise in RPO to $1.5 billion and a 102% net retention rate, with suites representing 60% of revenue and an 87% attach rate for large deals. Management emphasized the AI-enabled data extraction and workflow automation as the core growth engines for enterprise-wide adoption. This note synthesizes Q4 fundamentals, management commentary, and the implications for investors in Box’s AI-first growth trajectory.