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  "documentTitle": "Box, Inc. (BOX)",
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  "presentationDate": "2021-08-06 00:00:00",
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  "notes": "Uses a quote from the CEO to highlight the gap between management's stated goals and actual performance.",
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      "text": "Box meaningfully missed its Net Retention Rate target of 106%",
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      "text": "At the October 2019 Investor Day, management published a target of >106% net retention in FY2021, which was higher than FY2020, as a first step in reinvigorating revenue growth. However, the Company failed to achieve this target.",
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      "text": "\"...so in our most recent quarter, on that metric, we reported 106%. And I think the kind of commitment in what Mark [Wayland, Chief Revenue Officer] was saying was we're going to improve that rate from here.\"",
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      "text": "“...so in our most recent quarter, on that metric, we reported 106%. And I think the kind of commitment in what Mark [Wayland, Chief Revenue Officer] was saying was we're going to improve that rate from here.” — CEO Aaron Levie, 2019 BoxWorks, October 2019",
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