8-K
filed February 15, 2024, 6:59 PM ET
ticker DBX
CIK 0001467623
earnings
confidence high
sentiment neutral
materiality 0.70
Dropbox Q4 revenue $635M (+6% YoY); ARR growth slows to 0.3%
DROPBOX, INC.
2023-FY EPS reported
$1.31
revenue$2,501,600,000
- Q4 GAAP net income $227M ($0.66 diluted EPS) vs $328M last year; includes $158.8M real estate gain.
- Non-GAAP EPS $0.50 vs $0.40; free cash flow $190.3M vs $181.7M.
- Total ARR $2.523B, up just 0.3% YoY (3.8% constant currency); paying users 18.12M, down 0.05M QoQ.
- FY 2023 revenue $2.502B (+7.6% YoY); non-GAAP operating margin 32.8% vs 30.9%.
- CEO cites Q4 headwinds; investing in AI-powered Dash and focusing on core FSS profitability.
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 the quarter ended December 31, 2023 results: revenue $635.0 million, net income $227.3 million, EPS $0.66.
- Period
- the quarter ended December 31, 2023
- Revenue
- $635.0 million
- Net income
- $227.3 million
- EPS
- $0.66
- Result
- reported results
Exact text from the filing
Fourth Quarter Fiscal 2023 Results • Total revenue was $635.0 million, an increase of 6.0% from the same period last year. On a constant currency basis, year-over-year growth would have been 6.2%. (1) Total revenue increased $2.0 million quarter-over-quarter. • Total ARR was $2.523 billion, a slight increase of 0.3% from the same period last year. On a constant currency basis, year-over-year growth would have been 3.8%. (2) Total ARR decreased $2.2 million quarter-over-quarter. • Paying users was 18.12 million, as compared to 17.77 million for the same period last year. Average revenue per paying user was $138.83, as compared to $134.53 for the same period last year. Paying users decreased 0.05 million quarter-over-quarter. • GAAP gross margin was 80.8%, as compared to 80.7% for the same period last year. Non-GAAP gross margin was 82.3%, as compared to 82.0% for the same period last year. • GAAP operating margin was 42.1%, as compared to (13.4%) for the same period last year. In the fo
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
DROPBOX, INC. reported the fiscal year ended December 31, 2023 results: revenue $2.502 billion, net income $453.6 million, EPS $1.31.
- Period
- the fiscal year ended December 31, 2023
- Revenue
- $2.502 billion
- Net income
- $453.6 million
- EPS
- $1.31
- Result
- reported results
Exact text from the filing
Full Year Fiscal 2023 Results • Total revenue was $2.502 billion, an increase of 7.6% year over year. On a constant currency basis, year-over-year growth would have been 9.3%. (1) • Average revenue per paying user was $139.38, as compared to $134.51 in the prior year. • GAAP gross margin was 80.9%, consistent with the prior year. Non-GAAP gross margin was 82.5%, as compared to 82.3% in the prior year. • GAAP operating margin was 21.5%, as compared to 7.8% in the prior year. Non-GAAP operating margin was 32.8%, as compared to 30.9% in the prior year. • GAAP net income was $453.6 million, as compared to $553.2 million in the prior year. Non-GAAP net income was $685.0 million, as compared to $573.9 million in the prior year. • Net cash provided by operating activities was $783.7 million as compared to $797.3 million in the prior year. Free cash flow was $759.4 million as compared to $763.5 million in the prior year. • GAAP diluted net income per share attributable to common stockholders w
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.