Cloud file syncing and sharing software company Box today reported strong financial figures for the fourth quarter of fiscal year 2016, which ended on January 31.

Box reported a $0.26 non-GAAP net loss on $85 million in revenue for the quarter. Analysts were expecting a loss of $0.29 per share on $81.77 million in revenue. Revenue was up 36 percent year over year, according to a statement.

Box said it had 57,000 paying business customers at the end of the quarter, up from 54,000 paying business customers as of October 31.

Box forecast a non-GAAP loss of $0.23 to $0.24 on $88-89 million in revenue for the first quarter of its 2017 fiscal year, which will end on April 30.

The stock was up more than 12 percent in after-hours trading following a day of the stock going up in anticipation of strong earnings.

Box went public in January 2015. Competitors include Google, Microsoft, and Dropbox.