Dropbox Announces Fiscal 2024 Second Quarter Results Second Quarter Revenue of $634.5 Million, up 1.9% year-over-year; on a constant currency basis, up 1.8% year-over-year GAAP Operating Margin of 20.0% and Non-GAAP Operating Margin of 35.9% Net Cash Provided by Operating Activities of $230.6 Million and Free Cash Flow of $224.7 Million SAN FRANCISCO, Calif. - August 8, 2024 - Dropbox, Inc. (NASDAQ: DBX), today announced financial results for its second quarter ended June 30, 2024. "In Q2, we improved the f ...

Although it is always a good idea to monitor volume change and price resilience, some stocks — especially those categorized as overhyped stocks to sell when they reach new highs — have more fishy fundamentals than others, particularly if there is a possibility of a recession. The global equity sell-off on Monday certainly hinted at a hard landing scenario. Citi (NYSE:C) economist Andrew Hollenhorst wisely noted that "Once you start to worry about [a] recession, you are usually in a recession." Despite inter ...

Core Viewpoint - Dropbox is set to report its Q2 2024 results, with expected revenues between $628 million and $631 million, indicating a slight growth from the previous year [1][2] Financial Performance - The Zacks Consensus Estimate for earnings is 52 cents per share, reflecting a 1.96% increase from the same quarter last year [2] - Dropbox has consistently beaten earnings estimates over the past four quarters, with an average earnings surprise of 13.14% [2] User Growth and Product Development - The company has expanded its AI-powered product portfolio, contributing to an increase in its paid user base, which reached 18.16 million as of March 31, 2024, with a sequential growth of approximately 35,000 users [3] - As of the same date, Dropbox had over 700 million registered users, with around 575,000 business teams, indicating that 34% of paying users are business teams [4] Product Features and Integrations - New features have been added to enhance security, organization, and sharing capabilities, including real-time co-authoring with Microsoft 365 and advanced data protection [5] - Updates to solutions like DocSend and Replay have been implemented, improving user experience and functionality [6] Market Performance - Dropbox shares have declined 27% year-to-date, underperforming the broader technology sector and its industry peers [8] - The stock is currently trading at a forward Price/Sales ratio of 2.76X, significantly lower than the industry average of 5.38X, suggesting it may be undervalued [9] Strategic Partnerships and Innovations - The company benefits from a strong partner ecosystem, including collaborations with Google, Microsoft, and NVIDIA, enhancing its AI capabilities and product offerings [11][13] - Dropbox Dash has seen strong adoption, improving search functionality and user experience [12] Financial Outlook - The company expects free cash flow to be between $910 million and $950 million for 2024, up from $759 million in 2023, indicating a strong liquidity position [14] Conclusion - Dropbox's innovative portfolio and strong partnerships present positive growth prospects, although growth may be modest in the near term [15]

About this content Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Use of technology Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments ...

Disney (DIS) Questionable leadership, disappointing long-term returns, and activist initiatives that went nowhere suggest that investors may want to stay away from Disney stock. A potential strike will only make things worse. Workhorse is one of the many EV stocks that captured investors' imaginations as long as they didn't look at pesky things like fundamentals and long-term viability. Workhorse has commercial vehicles, but it's never a good sign when the company publishes a press release about regaining c ...

Dropbox's expanding AI-powered product portfolio has been a key catalyst in driving up the paid user base. Its strategy of leveraging AI to develop products that organize all cloud content on a single platform is a positive. Image Source: Zacks Investment Research Dropbox is benefiting from an innovative portfolio and strong partner base that includes the likes of Google, Slack, Adobe, Atlassian, Zoom, Microsoft (MSFT) , Salesforce (CRM) and NVIDIA (NVDA) . Dash's latest enhancements improve search function ...

Core Insights - The venture capital landscape is showing signs of recovery, with Q2 2024 investor activity metrics exceeding previous years, up 21.7% year-over-year from 2023, surpassing 2021's record levels [8] - Founders are experiencing increased engagement, with pitch deck activity rising 10.8% year-over-year, indicating a potential for securing funding [9][10] Group 1: Investor and Founder Activity - Investor pitch deck interactions increased by 19.2% year-to-date from 2023, while founder links created rose by 10% [10] - Year-over-year, investor deck engagement is up 7.7% from 2021, and founder links created have surged by 28.4% [3] - In H1 2024, investor activity levels consistently surpassed all previous tracked years from 2018 to 2024, indicating sustained momentum [11] Group 2: Key Metrics - DocSend's Pitch Deck Interest (PDI) metrics serve as leading indicators for fundraising activity, reflecting both investor demand and founder supply [4][12] - The average time investors spend on pitch decks is a critical metric, suggesting a closer scrutiny of deals by VCs [5] - The average number of pitch deck links created by founders indicates the supply of startups seeking funding, while investor interactions reflect the demand for investments [12] Group 3: Market Conditions - The increase in funding opportunities is attributed to new technologies like AI and macroeconomic factors, including potential interest rate cuts [10] - May 2024 saw venture funding reach $31 billion, marking a 29% year-over-year increase, with AI being the leading sector for funding [10]

Dropbox (DBX) closed at $21.87 in the latest trading session, marking a -0.68% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 1.18%. Shares of the online file-sharing company have appreciated by 2.32% over the course of the past month, underperforming the Computer and Technology sector's gain of 8.46% and the S&P 500's gain of 4.44%. Market participants will be closely following the finan ...

The online file-sharing company's shares have seen a decrease of 4.76% over the last month, not keeping up with the Computer and Technology sector's gain of 4.06% and the S&P 500's gain of 2.83%. For the full year, the Zacks Consensus Estimates project earnings of $2.12 per share and a revenue of $2.54 billion, demonstrating changes of +7.07% and +1.66%, respectively, from the preceding year. Our research reveals that these estimate alterations are directly linked with the stock price performance in the nea ...

Dropbox (DBX) shares ended the last trading session 5.6% higher at $22.13. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.5% loss over the past four weeks. This online file-sharing company is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +2%. Revenues are expected to be $629.65 million, up 1.2% from the year-ago quarter. For Dropbox, th ...