Business
Dropbox Announces Fiscal 2020 Third Quarter Results
Revenue of $487.4 Million, Up 14% Year-over-year Net Cash Provided by Operating Activities of $200.9 Million and Free Cash Flow of $187.0 Million GAAP and
About this update from Dropbox, Inc.
[{"type":"text","content":"\nRevenue of $487.4 Million, Up 14% Year-over-year\n\nNet Cash Provided by Operating Activities of $200.9 Million and Free Cash Flow of $187.0 Million\n\nGAAP and Non-GAAP Operating Income of $30.0 Million and $112.2 Million, Up 261% and 100% Year-over-year\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nDropbox, Inc. (NASDAQ: DBX), today announced financial results for its third fiscal quarter ended September 30, 2020.\n\n\"In Q3, we saw momentum across the business with strong operating income, profitability, and free cash flow,\" said Dropbox Co-founder and Chief Executive Officer Drew Houston. \"Our margin expansion demonstrates the strength of our business model and execution against our long-term targets. We believe the opportunity to redesign work has never been bigger, and now, as a Virtual First company, we'll truly live our mission as we build better products for distributed teams.\"\n\nThird Quarter Fiscal 2020 Results\n\n\nTotal revenue was $487.4 million, an increase of 14% from the same period last year. On a constant currency basis, year-over-year growth would have been 14%.(1)\n\n\n\nTotal ARR ended at $1.981 billion, an increase of $49.8 million quarter-over-quarter and an increase of 12% year-over-year. On a constant currency basis, year-over-year growth would have been 13%.(2) \n\n\n\nPaying users ended at 15.25 million, as compared to 14.00 million for the same period last year. Average revenue per paying user was $128.03, as compared to $123.15 for the same period last year.\n\n\n\nGAAP gross margin was 78.8%, as compared to 75.5% in the same period last year. Non-GAAP gross margin was 80.0%, as compared to 76.7% in the same period last year.\n\n\n\nGAAP operating margin was 6.2%, as compared to (4.3)% in the same period last year. Non-GAAP operating margin was 23.0%, as compared to 13.1% in the same period last year.\n\n\n\nGAAP net income (loss) was $32.7 million, as compared to ($17.0) million in the same period last year. Non-GAAP net income was $110.2 million, as compared to $55.9 million in the same period last year.\n\n\n\nNet cash provided by operating activities was $200.9 million, as compared to $149.7 million in the same period last year. Free cash flow was $187.0 million, as compared to $102.5 million in the same period last year.\n\n\n\nGAAP net income (loss) per share attributable to common stockholders ...