Dropbox's (DBX) expanding AI-powered product portfolio has been playing a key catalyst in driving up the paid user base. It exited the first quarter of 2024 with 18.16 million paying users, marking sequential growth of roughly 35,000. As of Mar 31, 2024, DBX had more than 700 million registered users. Dropbox's strategy of leveraging AI to develop products that organize all cloud content is a positive. Its longterm growth prospect is driven by a strong partner base that includes the likes of Google, Slack, ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? Devel ...

Shares of Dropbox (DBX) have gained 3.3% over the past four weeks to close the last trading session at $23.73, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $30 indicates a potential upside of 26.4%. The average comprises nine short-term price targets ranging from a low of $24 to a high of $37, with a standard deviation of $4.58. While the lowest estimate indicates an increase ...

Investing in the internet is still a spectrum for growth as a seemingly unlimited number of businesses can benefit from what is one of the greatest inventions of our lifetime.There will always be up-and-coming or emerging investments in this regard and after posting strong Q1 results on Thursday, several internet-related stocks are starting to stand out.Dropbox (DBX)  - Zacks Rank #2 (BUY) Current Stock Price: $23 Serving more than 700 million registered users across 180 countries, Dropbox’s cloud-based pla ...

Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Dropbox, Inc. 1800 Owens Street San Francisco, California 94158 (415) 930-7766 (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices) Securities registered pursuant to Section 12(b) of the Act: Class A Common Stock, p ...

Dropbox (DBX) reported first-quarter 2024 non-GAAP earnings of 58 cents per share, beating the Zacks Consensus Estimate by 18.37% and increasing 38.1% year over year.Revenues of $631.3 million increased 3.3% year over year and beat the consensus mark by 0.40%.Total annual recurring revenues came in at $2.556 billion, up 3.6% year over year.Quarter DetailsDropbox exited the first quarter of 2024 with 18.16 million paying users, marking a sequential growth of roughly 35,000. The average revenue per paying use ...

About this content About Emily Jarvie 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 in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 increased by 3.3% year-over-year to $631 million, slightly above guidance [8] - Total ARR grew to $2.556 billion, up 3.6% year-over-year, with a constant currency growth rate of 2.8% [8] - Gross margin was 84.6%, benefiting from an increase in the useful life of servers, resulting in approximately $10 million of benefit in Q1 [9] - Operating expenses decreased by approximately 8% year-over-year to $303 million, leading to an operating margin of 36.5%, ahead of guidance [9] - Net income for Q1 was $197 million, up 35% year-over-year, with diluted EPS of $0.58 [31] Business Line Data and Key Metrics Changes - The core FSS business is focused on improving Teams offerings, with higher net revenue retention rates and opportunities for license expansion [4] - The Document Workflow group, including Form Swift, Sign, and DocSend, performed better than anticipated, indicating a positive trend [24] - The mobile channel has not fully recovered, but there have been improvements in top funnel metrics [25] Market Data and Key Metrics Changes - The company added approximately 35,000 net new paying users in Q1, bringing the total to 18.16 million users [8] - There is observed pressure in the SMB market, particularly in tech and manufacturing verticals, affecting demand [19] Company Strategy and Development Direction - The company is focused on enhancing product experiences for core FSS users while investing in AI-enabled products like Dash [28] - There is a strategic emphasis on reducing friction in onboarding processes and improving customer feedback integration into product development [5][6] - The company is committed to returning a significant portion of free cash flow to shareholders through share repurchases [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledges ongoing macroeconomic challenges and an uncertain demand environment, particularly in the SMB space [24] - The company remains disciplined in operations and capital allocation, focusing on efficiency and long-term value creation [34] - There is optimism about the potential of AI-enabled experiences and the evolution of the core FSS business [79] Other Important Information - The company repurchased over 11 million shares for $279 million in Q1, with approximately $1.1 billion remaining under the current repurchase authorization [10] - The company is monitoring a recent security incident related to its Sign business, which represents a low single-digit percentage of total revenue [33] Q&A Session Summary Question: Feedback on AI products in Dash - Early feedback indicates positive engagement and improvements in search latency and onboarding success [14] Question: Bundling opportunities and pricing changes - The company is focused on optimizing the bundling strategy and addressing price sensitivity in the market [16][57] Question: Health of SMBs and its impact on demand - Management notes that SMBs are more price-sensitive post-downturn, impacting top-of-funnel metrics [18][59] Question: Document Workflow business performance - The Document Workflow business showed stability, with increased usage driven by seasonal factors like tax season [64] Question: Security incident response - The company has taken proactive measures to address the security incident and expects limited impact on revenue [76]

Dropbox Announces Fiscal 2024 First Quarter Results First Quarter Revenue of $631.3 Million, up 3.3% year-over-year; on a constant currency basis, up 3.2% year-over-year GAAP Operating Margin of 22.7% and Non-GAAP Operating Margin of 36.5% Net Cash Provided by Operating Activities of $175.5 Million and Free Cash Flow of $166.3 Million SAN FRANCISCO, Calif. - May 9, 2024 - Dropbox, Inc. (NASDAQ: DBX), today announced financial results for its first quarter ended March 31, 2024. "In Q1, our core business deli ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium also includes the Zacks Style Scores.What are the Zacks Style Scores?Developed alongsid ...