DROPBOX, INC. (DBX): restructuring charge — Dropbox Q4 revenue $598.8M (+5.9% YoY); records $162.5M real estate impairment; acquires FormSwift for ~$95M

DROPBOX, INC.

2022-FY EPS reported $1.52 revenue$2,324,900,000

Q4 revenue $598.8M (+5.9% YoY; +9.2% constant currency); ARR $2.514B (+11.2% YoY).
GAAP net income $328.3M includes $420.2M one-time tax benefit; GAAP EPS $0.93; non-GAAP EPS $0.40.
Recorded $162.5M real estate impairment in Q4 2022; cumulative impairment of $604M since Virtual First shift.
Acquired FormSwift for ~$95M (cash) on Dec 15, 2022 to expand document workflow capabilities.
Free cash flow $181.7M in Q4, up 12.6% YoY; full-year FCF $763.5M.

item 2.02 item 2.06 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DROPBOX, INC. reported financial results for fourth quarter and fiscal year ended December 31, 2022.

Period: fourth quarter and fiscal year ended December 31, 2022
Result: reported results

Exact text from the filing

On February 16, 2023, Dropbox, Inc. ("Dropbox" or the "Company") issued a press release and will hold a conference call announcing its financial results for the quarter and fiscal year ended December 31, 2022.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

DROPBOX, INC. announced a impairment with charges of $162.5 million and $175.2 million affecting corporate office real estate assets.

Type: impairment
Charge: $162.5 million and $175.2 million
Affected area: corporate office real estate assets

Exact text from the filing

the Company recorded additional impairment charges related to its corporate office real estate assets of $162.5 million and $175.2 million during the fourth quarter and full-year 2022, respectively.

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

DROPBOX, INC. filing history →

Source: SEC EDGAR

accession 0001467623-23-000006

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