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Jun 30, 2023
Dropbox Q2 2023 Earnings Report
Dropbox's Q2 2023 earnings surpassed expectations across all metrics, driven by the introduction of AI-powered product experiences and a focus on improving the core Dropbox product.
Key Takeaways
Dropbox reported a solid Q2 2023, exceeding guidance across all metrics. Total revenue reached $622.5 million, up 8.7% year-over-year, and ARR ended at $2.500 billion, an increase of 7.2% from the same period last year. The company introduced new AI-powered product experiences and remains focused on improving the product experience within core Dropbox.
Total revenue was $622.5 million, up 8.7% year-over-year.
Total ARR ended at $2.500 billion, an increase of 7.2% from the same period last year.
Paying users ended at 18.04 million, compared to 17.37 million for the same period last year.
GAAP operating margin was 9.1%, while non-GAAP operating margin was 34.2%.
Forward Guidance
Dropbox will provide forward-looking guidance in connection with this quarterly earnings announcement on its conference call, webcast, and on its investor relations website.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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