Box reported $1.70B of remaining performance obligations at 31 Jul 2026, up 13% from a year earlier and up 6% from the previous quarter. That is 1.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.31.
Net new backlog added in the latest quarter: $100M.
Over the last twelve months it turned about 78% of its opening backlog into revenue (12-month conversion).
53% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 35.0% of the backlog.
Twelve-month book-to-bill: 1.16, i.e. 1.16 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +4 points — orders are running ahead of revenue.
By backlog size it ranks 199th among US filers the cockpit tracks.
Box backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Jul 2026
$1.70B
$1.23B
1.4 yrs
$596M
30 Apr 2026
$1.60B
$1.21B
1.3 yrs
$606M
31 Jan 2026
$1.71B
$1.18B
1.5 yrs
$657M
31 Oct 2025
$1.50B
$1.15B
1.3 yrs
$546M
31 Jul 2025
$1.50B
$1.13B
1.3 yrs
$547M
30 Apr 2025
$1.50B
$1.10B
1.4 yrs
$574M
31 Jan 2025
$1.50B
$1.09B
1.4 yrs
$609M
31 Oct 2024
$1.30B
$1.07B
1.2 yrs
$491M
31 Jul 2024
$1.30B
$1.06B
1.2 yrs
$502M
30 Apr 2024
$1.20B
$1.05B
1.1 yrs
$514M
31 Jan 2024
$1.30B
$1.04B
1.3 yrs
$587M
31 Oct 2023
$1.10B
$1.03B
1.1 yrs
$472M
Questions
What is Box's backlog?
Box reported $1.70B of remaining performance obligations at 31 Jul 2026, up 13% from a year earlier and up 6% from the previous quarter. That is 1.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.31.
How fast does Box's backlog turn into revenue?
Over the last twelve months Box recognised revenue equal to about 78% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.