Business
Dropbox Announces Third Quarter Fiscal 2021 Results
Third Quarter Revenue of $550.2 Million, Up 12.9% Year-over-year GAAP and Non-GAAP Operating Income of $77.3 Million and $161.0 Million, Up 157.7% and 43.5%
About this update from Dropbox, Inc.
[{"type":"text","content":"\nThird Quarter Revenue of $550.2 Million, Up 12.9% Year-over-year\nGAAP and Non-GAAP Operating Income of $77.3 Million and $161.0 Million, Up 157.7% and 43.5% Year-over-year\nNet Cash Provided by Operating Activities of $231.5 Million and Free Cash Flow of $221.5 Million\n\n SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nDropbox, Inc. (NASDAQ: DBX), today announced financial results for its third quarter ended September 30, 2021.\n\n“Q3 was another solid quarter with record free cash flow, strong revenue growth, and great progress against our strategic objectives as we focus on delivering more value to our customers and shareholders,” said Dropbox Co-Founder and Chief Executive Officer Drew Houston. “We shipped several new product experiences to help our customers with today’s challenges of distributed and remote work, and I’m confident in our future as we work toward our vision of building one organized place for content and all the workflows around it.”\n\nThird Quarter Fiscal 2021 Results\n\n\nTotal revenue was $550.2 million, an increase of 12.9% from the same period last year. On a constant currency basis, year-over-year growth would have been 10.7%.(1)\n\n\n\nTotal ARR ended at $2.218 billion, an increase of $52.1 million quarter-over-quarter and an increase of 12.0% year-over-year. On a constant currency basis, year-over-year growth would have been 10.4%.(2)\n\n\n\nPaying users ended at 16.49 million, as compared to 15.25 million for the same period last year. Average revenue per paying user was $133.79, as compared to $128.03 for the same period last year.\n\n\n\nGAAP gross margin was 79.6%, as compared to 78.8% in the same period last year. Non-GAAP gross margin was 81.0%, as compared to 80.0% in the same period last year.\n\n\n\nGAAP operating margin was 14.0%, as compared to 6.2% in the same period last year. Non-GAAP operating margin was 29.3%, as compared to 23.0% in the same period last year.\n\n\n\nGAAP net income was $75.6 million, as compared to $32.7 million in the same period last year. Non-GAAP net income was $147.1 million, as compared to $110.2 million in the same period last year.\n\n\n\nNet cash provided by operating activities was $231.5 million, as compared to $200.9 million in the same period last year. Free cash flow was $221.5 million, as compared to $187.0 million in the same period last year.\n\n\n\nGA...