Assertion Partly supported AI assessment confidence: 85% certainty 4/5 debate potential 1/5

Appel: Box defines implied ACV as customers spending over $5k ARR

David Appel · 3 Frameworks to Help Forecast & Inform your Board in Your First Three Year · Jul 24, 2023 · at 5:33

This episode carries David Appel's own address, with nobody on the show putting questions to them. It still counts as said, and it is kept out of every score on their page.

David Appel, head of the SaaS vertical at Sage, explains how different SaaS companies define their core financial metrics.

0:00 / 0:08exact quote · 8.3s

720p mp4 · rendered on demand · StarZero watermark

“Implied ACV. Does anybody know what implied ACV is? Customers that spend over 5000 dollars a year in ARR with them.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

Box defines implied ACV as customers that spend over $5,000 per year in ARR.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

David Appel's claim is partially true. In its Form S-1 registration statement and subsequent Form 10-K/10-Q filings, Box did establish a $5,000 threshold for Annual Contract Value (ACV)—specifically filtering for 'customers with contract value of $5,000 or more' to measure its retention rate cohort. However, Box itself never defined or used the term 'implied ACV' in its SEC filings or investor materials; 'implied ACV' is an external SaaS analyst and industry benchmark term applied to Box's disclosed $5,000 threshold rather than an internal company-defined metric.

Box's Form S-1 and Form 10-K filings define its retention rate cohort starting with 'customers with contract value of $5,000 or more as of 12 months prior to such period end (Prior Period ACV)'.
Across Box's Form S-1, Form 10-K, Form 10-Q filings, and investor presentations, the term 'implied ACV' is never used or defined as an official metric by Box.
'Implied ACV' is an industry/analyst term (e.g., in KeyBanc/Pacific Crest SaaS benchmark reports) derived from Box's $5,000 ACV retention disclosure.

Checked against

[1] sec.gov [2] edgar-online.com [3] sec.gov [4] q4cdn.com [5] sec.gov [6] q4cdn.com [7] sec.gov [8] sec.gov

"Box" "retention rate" "customers with contract value of $5,000" "Box" "implied ACV" OR "ACV" "5,000" OR "$5,000" S-1 OR 10-K site:sec.gov/Archives/edgar/data/1372612 "implied" "ACV" "Box, Inc." "implied ACV" OR "average contract value" OR "annual contract value" "$5,000" "Box" "paying organizations" "$5,000" S-1 OR "Form S-1" "Box" "implied ACV"

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Box Implied ACV

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