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Redeemable Convertible Preferred Stock and Stockholders' Deficit | 3 Months Ended
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Apr. 30, 2024
Stockholders' Equity Note [Abstract] |
Redeemable Convertible Preferred Stock and Stockholders' Deficit | Note 7. Redeemable Convertible Preferred Stock and Stockholders’ Deficit Series A Convertible Preferred Stock On April 7, 2021, we entered into an investment agreement with a group of investors led by KKR & Co. Inc. (collectively "KKR") relating to the issuance and sale of 500,000 shares of our Series A Convertible Preferred Stock, par value $0.0001 per share, for an aggregate purchase price of $500 million, or $1,000 per share. There have been no changes to the terms and conditions of the Series A Preferred Stock for the three months ended April 30, 2024 from those disclosed in Item 8. Financial Statements and Supplementary Data in our Form 10-K for the year ended January 31, 2024. During the three months ended April 30, 2024, we paid cash dividends to our Series A Preferred Stockholders in the amount of $3.8 million and as of April 30, 2024, we had accrued dividends of $1.2 million on the Series A Preferred Stock. Accrued dividends are recorded against additional paid-in capital due to Box being in an accumulated deficit position. Share Repurchase Plan Our Board of Directors has authorized a share repurchase plan to opportunistically repurchase shares of our outstanding Class A common stock in open market transactions and on March 4, 2024, our Board of Directors authorized the repurchase of an additional $100 million shares of our Class A common stock. We periodically enter into pre-set trading plans adopted in accordance with Rule 10b5-1 to effect repurchases under our share repurchase plan. During the three months ended April 30, 2024, we repurchased 1.4 million shares at a weighted average price of $27.10 per share for a total amount of $37.2 million. As of April 30, 2024, $126.4 million remained available for additional repurchases.

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