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  "documentTitle": "Box, Inc. (BOX)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2021-08-06 00:00:00",
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      "text": "Box traded at a discount to peers due to a weak combination of growth + profitability",
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      "text": "In the software space, there is a positive correlation between strong growth + profitability and higher valuation.\nDespite spending significantly to grow revenue, Box failed to achieve strong top line results, indicating the Company was overspending in the pursuit of growth.\nDue to this combination of poor growth and profitability, Box traded at a significantly lower valuation multiple than peers.",
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      "kind": "paragraph",
      "text": "Box did an extremely poor job balancing growth and profitability, leading to a valuation multiple discount relative to the Peer Group.",
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      "text": "Source: Company filings, Capital IQ, Bloomberg.",
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      "kind": "title",
      "text": "Box Lagged Peers Prior to Starboard's Involvement",
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