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Dropbox EPS will likely be near $0.18 while revenue will be around $483.64 million, according to analysts. 2020 was a transformational year for Dropbox as the world abruptly shifted to working from home due to the pandemic. We adjust our exchange rates used to calculate Total ARR on an annual basis, at the beginning of each fiscal year. Dropbox should post a narrower loss in 2021, but its high stock-based compensation expenses -- which gobbled up 14% of its revenue in 2020 -- should prevent it … The Zacks Consensus Estimate for … Non-GAAP gross margin was 78.3%, as compared to 75.4% in the same period last year. To reflect foreign-exchange impact and lower interest rates, Dropbox brought down its 2020 free-cash-flow forecast to a range of $460 million to $470 million. Further information on risks that could affect Dropbox’s results is included in our filings with the Securities and Exchange Commission ("SEC"), including our Form 10-K for the year ended December 31, 2019. 4 min read Dropbox DBX is set to report first-quarter 2020 results on May 7. In the year 2017, the numbers increased to 2.1% for the paying users. Dropbox was started in 2007 by MIT graduate Drew Houston who continues to helm the company. Condensed Consolidated Statements of Operations. Non-GAAP operating margin was 16.1%, as compared to 10.1% in the same period last year. All Rights Reserved. These amounts are presented net in the table above. other expenses, Three Months Ended March 31, 2020 and 2019, Reconciliation of GAAP net income (loss) to Non-GAAP net income and Non-GAAP diluted net income per share, Reconciliation of free cash flow and supplemental cash flow disclosure, Net cash provided by operating activities, Capital expenditures related to our new corporate headquarters, net of tenant improvement allowances(1), Key employee holdback payments related to the acquisition of HelloSign(2). Following the event, a replay will be made available at the same location. Management also believes that these non-GAAP financial measures provide useful supplemental information to investors and others in understanding and evaluating Dropbox's operating results and future prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies. First Quarter 2020 Earnings Release 315.4 KB. Dropbox Inc. (NASDAQ: DBX) reported second quarter 2020 earnings results today. (2) On March 19, 2020, one of the Company's co-founders resigned as a member of the board and as an officer of the Company, resulting in the reversal of $23.8 million in stock-based compensation. Average revenue per paying user was. Dropbox will provide forward-looking guidance in connection with this quarterly earnings announcement on its conference call, webcast, and on its investor relations website at investors.dropbox.com. (3) Non-GAAP diluted net income per share is calculated based upon 419.3 million and 417.7 million diluted weighted-average shares of common stock for the three months ended March 31, 2020 and 2019, respectively. Guidance will come on the company's conference call. I’m incredibly proud of our team as we continue to build products that help facilitate distributed work at scale. (Source: “Dropbox, Inc. (DBX) CEO Drew Houston on Q1 2020 Results – Earnings Call Transcript,” Seeking Alpha, May 7, 2020.) GAAP net income was $17.5 million, or $0.04 per share, compared to a net loss of $21.4 million, or $0.05 per share, last year. Published on May 07, 2020 Dropbox reports first profitable quarter during COVID-19 crisis ... Next Dropbox announces Q1 2020 results; Share 'close share' @ i18n} Twitter Facebook LinkedIn Copy Link Related Articles. DBX Financial Model 40.5 KB. Management encourages investors and others to review Dropbox's financial information in its entirety and not rely on a single financial measure. For periods that we are in a GAAP net income position, the weighted average shares used in the computation are the same as the shares used in our non-GAAP diluted net income per share computation. Dropbox EPS in the same period a year … SAN FRANCISCO--(BUSINESS WIRE)--May 7, 2020-- Dropbox, Inc. (NASDAQ: DBX), the world's first smart workspace, today announced financial results for its first fiscal quarter ended March 31, 2020. “We had a strong first quarter as we rallied together to support our customers and our community during this unprecedented public health crisis,” said Dropbox Co-founder and Chief Executive Officer Drew Houston. (2) We calculate total annual recurring revenue ("Total ARR") as the number of users who have active paid licenses for access to our platform as of the end of the period, multiplied by their annualized subscription price to our platform. Dropbox's bottom line is in the black for the first time since the company debuted on the Nasdaq in 2018. Dropbox had a solid year in 2020 and continues to do well in 2021 as this chart shows: Screenshot by author. Additional information will be made available in our quarterly report on Form 10-Q and other future reports that we may file with the SEC from time to time, which could cause actual results to vary from expectations. Dropbox is the world's first smart workspace that helps people and teams focus on the work that matters. You can read more about our Q1 2020 results here. Dropbox, Inc. (DBX) Q1 2020 Earnings Call Transcript DBX earnings call for the period ending March 31, 2020. The 2020 Ford Rangers were built in Michigan between Feb. 28 and March 18, 2020, and the 2020 Ford F-150s were built in Michigan and Kansas City from Feb. 18 to March 19, 2020. Some of the limitations of FCF are that FCF does not reflect our future contractual commitments, excludes investments made to acquire assets under finance leases, includes capital expenditures related to our new corporate headquarters, and may be calculated differently by other companies in our industry, limiting its usefulness as a comparative measure. A Division of NBCUniversal. Words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plans," and similar expressions are intended to identify forward-looking statements. Of the total amount reversed, $21.5 million related to expense recognized prior to December 31, 2019. Dropbox … The related expenses are recognized within research and development expenses over the required service period of three years. Dropbox calculates constant currency Total ARR growth rates by applying the current period rate to prior period results. Management believes these non-GAAP financial measures reflect Dropbox's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in Dropbox's business, as they exclude expenses that are not reflective of ongoing operating results. The number of weekly active users of Dropbox's redesigned desktop app is up about 60% since March, the company said in a blog post on Thursday. Dropbox Inc. reported its first-ever net income, in a quarter when demand for cloud software was bolstered by a shift to working from home. FCF differs from GAAP net cash provided by operating activities in that it treats capital expenditures as a reduction to net cash provided by operating activities. Got a confidential news tip? The company said that coronavirus quarantines and the encouragement of remote work will help its business even as the lockdowns end. "Certainly, a huge percentage of the world is being forced into a remote work state for the first time, but I think the effects of it will persist well beyond when we typically go back into the office," Houston said on Thursday's call. Dropbox's management uses these non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short and long-term operating plans, and to evaluate Dropbox's financial performance and the ability to generate cash from operations. Dropbox’s Q1 earnings results Dropbox generated revenue of $455 million—an increase of 18.0% from the first quarter of 2019. We helped many of our customers through this transition. Dropbox has generated $0.00 earnings per share over the last year and currently has a price-to-earnings ratio of 138.8. Dropbox compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable GAAP financial measures. Q1 2020 Earnings Recap By Dropbox Team. https://www.cnbc.com/2020/05/07/dropbox-dbx-earnings-q1-2020.html We frequently do photo shoots and have to send clients 20-30 high-res files at a time…Dropbox Business makes it easy to manage the big, heavy data every day. Dropbox DBX is set to report first-quarter 2020 results on May 7.For the quarter, the company expects revenues between $452 million and $454 million. In the year 2015, there were less than 1.4% of users who paid for the Dropbox services availed. Condensed Consolidated Statements of Cash Flows, Reconciliation of GAAP to Non-GAAP results, (In millions, except for percentages, which may not foot due to rounding), Acquisition- During these events, a live webcast will be accessible from the Dropbox investor relations website at http://investors.dropbox.com. Dropbox has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Thursday, May 6th, 2021 based off prior year's report dates. GAAP gross margin was 77.3%, as compared to 74.5% in the same period last year. We just send links to our clients, and they immediately get what they need. Analysts polled by FactSet had been looking for $481 million in free cash flow for the year. Data is a real-time snapshot *Data is delayed at least 15 minutes. related and Description: Dropbox provides cloud-based file storage, sharing, and project collaboration services for individuals and, to a lesser extent, enterprise customers. The company beat estimates for revenue and adjusted earnings. We’ve built an enduring business and I remain confident in our future.”. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Adjustments to reconcile net income (loss) to net cash provided by operating activities: Changes in operating assets and liabilities: Tenant improvement allowance reimbursement, Business combinations, net of cash acquired, Proceeds from sales of short-term investments, Proceeds from maturities of short-term investments, Shares repurchased for tax withholdings on release of restricted stock, Proceeds from issuance of common stock, net of repurchases, Principal payments on finance lease obligations, Effect of exchange rate changes on cash and cash equivalents, Property and equipment acquired under finance leases, Amortization of acquired intangible assets, Income tax effects of non-GAAP adjustments, Weighted-average shares used to compute Non-GAAP diluted net income per share, Paying users ended at 14.6 million, as compared to 13.2 million for the same period last year. The company expects to have a profit for the full year, Ajay Vashee, its finance chief, said on a conference call with analysts. The company had positive free cash flow in 2016 after a year of negative free cash flow, according to the prospectus for its initial public offering. Dropbox shares rose about 2% in after-hours trading after the company showed its first quarterly profit. Dropbox Q1 2020 Earnings Infographic During the quarter, Dropbox added new features to its deep integration with Zoom and with the shift to remote work, the company saw a 20 times increase in Zoom integration usage heading into April versus February levels. Today, Dropbox will discuss the quarterly financial results that were distributed earlier. First Quarter 2020 Earnings Call . Non-GAAP net income also excludes net gains and losses on equity investments, and includes the income tax effect of the aforementioned adjustments, including the tax effects of acquired intangible assets. The payments began in the current quarter, and will be paid evenly in quarterly installments over the remaining required service period. Notably, the stock surpassed the IPO pricing of $21 in 2018. ET and can be accessed by dialing (877) 300-7844 from the United States or (786) 815-8440 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the Dropbox investor relations website at investors.dropbox.com. The company is expected to report earnings of $0.19/share on revenue of $483.6 million. Revenue grew 18% in the quarter, down from 19% growth in the fourth quarter. In Q1/2020, Dropbox reported revenue growth of 18% to US$455 million, with record gross margins of 77%. Dropbox should post a narrower loss in 2021, but its high stock-based compensation expenses -- which gobbled up 14% of its revenue in 2020 -- should prevent it … Net cash provided by operating activities include tenant improvement allowances related to our new corporate headquarters, and represents cash received from our landlord to partially offset this build-out. Dropbox assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by applicable law. Notwithstanding the after-hours move, Dropbox shares are up about 22% for the year. The shares of Dropbox (NASDAQ: DBX) rose 19.96% or $3.74 to close at $22.45 after the Cloud storage company posted better-than-anticipated fiscal 2019 fourth-quarter results.The company also reaffirmed Q1, FY 2020 outlook. Non-GAAP diluted net income per share differs from GAAP diluted net loss per share in that the numerator utilizes the non-GAAP net income as described above, and the weighted average shares used in the computation include certain shares that are excluded from the GAAP diluted net loss per share calculation because their effect would have been anti-dilutive. Dropbox. However, comparing results against estimates isn't straightforward given that the coronavirus spread during the quarter. Sign up for free newsletters and get more CNBC delivered to your inbox. Following the completion of the call, a telephonic replay will be available through 11:59 PM ET on May 14, 2020 at (855) 859-2056 from the United States or (404) 537-3406 internationally with recording access code 9115979. For the quarter, the company expects revenues between $452 million and … Dropbox Earnings Estimates and Actuals by Quarter Dropbox CEO: We've seen more demand, engagement up. ... 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