Box, an online file sharing and personal cloud content management service, has reported a non-GAAP net loss of $1.65 per share for the quarter. According to initial reports, analysts were anticipating it to be $1.17. And in after hours trading, the shares fell more than 16%.

However, according to a CNBC report, Aaron Levie, Box CEO told that consensus was a result of a wrong share count. He also said that the loss should have been $1.99. He said that performance of the company was better than expected.

According to Levie, the analysts who revealed the wrong data were given the correct information. Box is reporting huge losses compared to revenue.

Revenue was $62.6 million in the quarter, 61% more compared to the previous year. And net loss was $46.7 million, which increased from $43.3 million year after year. The numbers of full year are $216.4 million and $182 million respectively. In the quarter, cash burned was $15.6 million and $84.9 million in the year. One time charge of $2.9 million associated with the settlement of a legal dispute was also included in the quarter’s results.

Levie said that they aim for a market, which is worth as much as $25 billion. “And we absolutely want to continue to address it aggressively with increased investment in our sales and marketing teams. As revenue grows, these will get more efficient over time and become smaller as a percentage of revenue”, he added.

There have been 45,000 paying customers of the company at the end of the year. It is somewhat higher than 44,000 at the end of the previous quarter. According to Box, it has captured 22% of the Global 2000 list.