Free Post Earnings Research Report: Dropbox’s Revenue Surged 28%; Non-GAAP Soared 300%

Stock Monitor: pdvWireless Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 11, 2018 / If you want access to our free earnings report on Dropbox, Inc. (NASDAQ: DBX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DBX. Dropbox reported its first quarter fiscal 2018 operating and financial results on May 10, 2018. The file sharing and storage Company outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dropbox most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the first fiscal 2018, Dropbox’s total revenue surged 28% to $316.3 million compared to $247.9 million. The Company’s reported numbers topped analysts’ estimates of $309 million.

During Q1 2018, Dropbox’s Paying users totaled 11.5 million compared to 9.3 million for Q1 2017. The Company’s average revenue per paying user was $114.30 in the reported quarter compared to $110.79 for the year earlier same quarter.

For Q1 2018, Dropbox’s GAAP gross margin was 61.9% compared to 62.3% in Q1 2017. The Company’s reported quarter non-GAAP gross margin was 74.2% versus 63.5% in the year earlier comparable quarter. Gross margin expanded due to the Company’s continued focus on unit costs and utilization efficiencies as well as a change in the useful life of certain hardware.

Dropbox’s GAAP operating margin was 147.3% compared to 13.5% in Q1 2017. The Company’s non-GAAP operating margin was 10.9% in the reported quarter compared to 2.2% in the year earlier same quarter.

Dropbox’s GAAP net loss was $465.5 million, or $2.13 per diluted share, compared to net loss of $33.1 million, or $0.17 per diluted share, in Q1 2017. The Company’s reported quarter GAAP operating margin and net loss included a $418.7 million stock-based compensation charge due to the achievement of the liquidity event-related performance condition in connection with Dropbox’s initial public offering (IPO) for two-tier restricted stock units that met their service-based vesting condition as of the end of Q1 2018, and a $13.9 million employer payroll tax charge related to these restricted stock units.

During Q1 2018, Dropbox’s non-GAAP net income was $30.9 million or $0.08 per diluted share, compared to $5.2 million, or $0.02 per diluted share, in Q1 2017. The Company’s reported numbers surpassed Wall Street’s estimates for earnings of $0.04 per share.

Cash Matters

Dropbox’s cash, cash equivalents, and short-term investments were $846.0 million at the end of Q1 2018. The Company’s net cash provided by operating activities was $61.8 million compared to $61.6 million in the year earlier corresponding quarter. Dropbox’s free cash flow was $51.9 million compared to $56.5 million in Q1 2017.

Initial Public Offering and Private Placement

On March 27, 2018, Dropbox completed its IPO and a concurrent private placement where 40,761,905 shares of Class A common stock were sold at $21 per share, including 26,822,409 shares by the Company and 9,177,591 shares by selling stockholders in its IPO, and 4,761,905 shares by the Company in a private placement to Salesforce Ventures LLC. As a result of Dropbox’s IPO and the concurrent private placement, the Company received total gross proceeds of $776.7 million. The proceeds from the exercise of the underwriters’ option, totaled $108.4 million.

Outlook

For the second quarter of 2018, Dropbox is forecasting revenue to be in the range of $328 million to $331 million, and non-GAAP operating margin to be in the range of 9% to 10%. For the full-year 2018, the Company is estimating revenue to be in the range of $1.34 billion to $1.36 billion, non-GAAP operating margin to be in the range of 9% to 10% and free cash flow to be in the range of $340 million to $350 million.

Stock Performance Snapshot

June 08, 2018 – At Friday’s closing bell, Dropbox’s stock declined 1.02%, ending the trading session at $29.96.

Volume traded for the day: 1.76 million shares.

Stock performance for year-to-date – up 5.20%

After last Friday’s close, Dropbox’s market cap was at $12.50 billion.

The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.2% at the end of the session.

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