The stock fell $2.43, or 14%, to $15.50 in after-hours action.
The company posted a loss of 3 cents a share, adjusted for one-time items, on revenue of $163 million.
It had been expected to lose 5 cents a share on revenue of $161.5 million, according to Wall Street estimates.
The company lowered its guidance for full-year revenue to $688 million to $692 million vs. analyst estimates of just over $700 million.
The cloud storage provider is pursuing larger strategic sales, but "these deals often have longer sales cycles, which is reflected in our updated guidance," said CEO Aaron Levie in a press release announcing the results.