Business
Dropbox Announces Fourth Quarter and Fiscal 2021 Results
Fourth Quarter Revenue of $565.5 Million, Up 12.2% Year-over-year; on a constant currency basis, Up 10.8% Year-over-year GAAP and Non-GAAP Operating Income
About this update from Dropbox, Inc.
[{"type":"text","content":"\nFourth Quarter Revenue of $565.5 Million, Up 12.2% Year-over-year; on a constant currency basis, Up 10.8% Year-over-year\nGAAP and Non-GAAP Operating Income of $70.2 Million and $168.0 Million, Up 120.3% and 31.7% Year-over-year\nNet Cash Provided by Operating Activities of $162.7 Million and Free Cash Flow of $161.4 Million\n\nFiscal 2021 Revenue of $2.158 Billion, Up 12.7% Year-over-year; on a constant currency basis, Up 11.1% Year-over-year\nNet Cash Provided by Operating Activities of $729.8 Million and Free Cash Flow of $707.7 Million\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nDropbox, Inc. (NASDAQ: DBX), today announced financial results for its fourth quarter ended December 31, 2021.\n\n“2021 was a strong year for Dropbox. I’m proud of the progress our team made on evolving our core offerings and expanding our product portfolio to align to our customers’ growing needs, all during our first year as a Virtual First company,” said Dropbox Co-Founder and Chief Executive Officer Drew Houston. “We improved our non-GAAP operating margin by nearly 9 points, grew free cash flow by over 40% year-over-year, and delivered our first full year of GAAP profitability. Looking ahead to 2022, I’m excited about the opportunity we have to help our customers organize their digital lives and deliver value to our shareholders.”\n\nFourth Quarter Fiscal 2021 Results\n\n\nTotal revenue was $565.5 million, an increase of 12.2% from the same period last year. On a constant currency basis, year-over-year growth would have been 10.8%.(1)\n\n\n\nTotal ARR ended at $2.261 billion, an increase of $43.1 million quarter-over-quarter and an increase of 11.8% year-over-year. On a constant currency basis, year-over-year growth would have been 10.2%.(2)\n\n\n\nPaying users ended at 16.79 million, as compared to 15.48 million for the same period last year. Average revenue per paying user was $134.78, as compared to $130.17 for the same period last year.\n\n\n\nGAAP gross margin was 79.5%, as compared to 79.0% in the same period last year. Non-GAAP gross margin was 80.9%, as compared to 80.1% in the same period last year.\n\n\n\nGAAP operating margin was 12.4%, as compared to (68.8%) in the same period last year. Non-GAAP operating margin was 29.7%, as compared to 25.3% in the same period last year.\n\n\n\nGAAP net income (loss) was $124.6 million, as compared to ...