Box published its third quarter financial results Tuesday, with revenue coming in above expectations.
The cloud content management company's Q3 non-GAAP net loss per share was 1 cent, compared to a net loss of 6 cents a year prior. Revenue for the third quarter of fiscal year 2020 was $177.2 million, an increase of 14 percent year-over-year.
Wall Street was expecting a net loss of 1 cent per share on revenue of $174.63 million.
"With these solid results and our delivery of key product and go-to-market initiatives, we are in a strong position to continue to improve our balance between growth and profitability," CEO Aaron Levie said in a statement.
Levie highlighted Box's Q3 launch of Box Shield, its new Relay enhancements and deeper integrations with IBM, Microsoft Teams and Slack.
Box's billings for the third quarter were $171.9 million, an increase of 10 percent from the year prior.
For Q4, Box expects revenue in the range of $181 million to $182 million. Non-GAAP net income per share is expected to be in the range of 4 cents to 5 cents.
Autodesk also published its Q3 results on Tuesday, coming out ahead of market expectations.
The company's non-GAAP diluted EPS was 78 cents on revenue of $843 million, up 28 percent year-over-year.
Wall Street was looking for earnings of 72 cents per share on revenue of $825.77 million.
"Our strong performance continued in Q3 as revenue, billings, ARR, earnings and free cash flow came in above expectations," CEO Andrew Anagnost said in a statement. "We continue to demonstrate the cash generating power of our business model, and this quarter drove a record last twelve months free cash flow of nearly $1 billion. The breadth and depth of our product portfolio in Construction paved the way for another strong quarter. In Manufacturing, we continue to displace competitors and grow faster than the overall market."
Recurring revenue represented 96 percent of Autodesk's total Q3 revenue. Meanwhile, total billings increased 55 percent to $1.01 billion.
For Q4, Autodesk is expecting revenue in the range of $880 million to $895 million.
Veeva, a SaaS provider for the life sciences industry, also beat Q3 expectations.
Third quarter non-GAAP fully diluted net income per share was 60 cents, compared to 45 cents one year ago. Total revenues for the third quarter were $280.9 million, up from $224.7 million one year ago, an increase of 25 percent year-over-year.
Wall Street was expecting earnings of 54 cents per share on revenue of $274.78 million.
"We delivered great results, significantly expanded in new and existing areas, and welcomed Crossix and Physicians World to the Veeva team," CEO Peter Gassner said in a statement. "Our focus on innovation, customer success, and ability to execute across multiple large markets sets us up for strong growth well into the future."
Subscription services revenues for the third quarter were $226.8 million, up from $178.2 million one year ago, an increase of 27 percent year-over-year.
For Q4, Veeva expects revenues between $296 and $299 million and non-GAAP fully diluted net income per share between 51 cents and 52 cents.