Cloud-based collaboration platform Box posted first-quarter results that slightly beat expectations, but investor reaction was muted. SiliconANGLE reported on Monday that Box shares fell 2 percent in after-hours trading after the earnings release.

Box reported first-quarter adjusted earnings per share of 37 cents and revenue of $305.9 million. Estimates were 36 cents and $304 million. Net income rose to $17.7 million from $8.1 million a year earlier.

Box also raised its fiscal 2027 revenue forecast to $1.28 billion from $1.275 billion.

But its guidance for the quarter called for earnings per share of 39 cents, below the market estimate of 40 cents.

Box is positioning AI as a growth engine. Chief Executive Aaron Levie (아론 레비) said, "Companies are adopting Box Premium Intelligent Context Management Platform to use unstructured data in AI workloads," and added, "Enterprise customers are using Enterprise Advanced to connect organizational content to AI agents and, based on that, are pushing workflow automation and faster decision-making."

Concerns persist that large language models and autonomous AI agents could weaken demand for existing enterprise software, and Box is not immune. Box shares are down 14 percent so far this year. Over the same period, the S&P 500 index has risen more than 9 percent.