{
  "docId": "019dd923-622b-71dc-a6da-20e710622d80",
  "docSlug": "0ffe179c4c4e",
  "documentTitle": "Box, Inc. (BOX)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-08-06 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 45,
  "pageCount": 184,
  "prevPage": 44,
  "nextPage": 46,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 7,
  "notes": "The slide uses a red dashed trend line to visually emphasize the deceleration.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bar_chart_vertical",
    "callout_box",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-20e710622d80/45",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-20e710622d80",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-20e710622d80.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-20e710622d80#slide-45",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Box’s revenue growth rate continues to decline despite repeated promises from management regarding a reacceleration of revenue growth.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6ee-7118-870f-e3a1c8b829ba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.45,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Revenue Growth Over Time",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bdddf6a6-c4e9-4efa-9454-c3cb3f950862",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "revenue growth: 10.1%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-e6ee-7118-870f-eae5dca0e940",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "Box's revenue growth rate continues to decline despite repeated promises from management regarding a reacceleration of revenue growth.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "de8dc628-dd73-40a3-8527-ee8ae3a9d5c6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.45,
        "x": 0.52,
        "y": 0.55
      },
      "kind": "quote",
      "text": "The company's revenue performance has been nothing to celebrate this year. ~11% revenue growth in FY'21, while almost the entirety of the software space is parading the past year as the year of digital transformation acceleration...",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "40bb81dd-9bf8-4597-96a6-ebec19748f41",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.52,
        "y": 0.25
      },
      "kind": "quote",
      "text": "…if growth has been decelerating dramatically while Box spent like a drunken sailor, we wonder how Box can improve margins while stabilizing growth, given the low gross margins and low sales efficiency",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd2e3527-ed89-4ad4-8684-9895db609ccb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“...if growth has been decelerating dramatically while Box spent like a drunken sailor, we wonder how Box can improve margins while stabilizing growth, given the low gross margins and low sales efficiency” — D.A. Davidson, November 2019; “The company’s revenue performance has been nothing to celebrate this year. ~11% revenue growth in FY’21, while almost the entirety of the software space is parading the past year as the year of digital transformation acceleration, has left BOX shares at a standstill and is head-scratching as the pandemic should logically be a major tailwind for BOX” — Craig-Hallum, March 2021",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-e6ee-7118-870f-e7e18d7fc4f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.02,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: Company filings, Bloomberg, Wall Street research. Note: Market data as of 8/4/21.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "111dee1d-aba0-4e26-9339-881889a560b3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.9,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "title",
      "text": "Box has struggled to reinvigorate revenue growth",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d7d07657-c7e8-4b7d-8a11-c236cbf95d25",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.05,
        "y": 0.07
      },
      "kind": "title",
      "text": "Annual Revenue Growth Continues to Decelerate",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e1a4efd2-0581-4543-95be-bfba311cc0b4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "6d9a1df5-904e-469c-9950-f6e39d3a9b5c",
      "evidence": "Contrasts management promises with declining growth data and critical analyst quotes.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}